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Posts Made By:
djkiwi
Forum:
Brokers
January 5th, 2013, 06:44 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
Nikopol I agree 100%. This issue is merely...
Nikopol
I agree 100%. This issue is merely one of effective segregated bank account control and monitoring. If this had been in place and operating effectively the issue would never have occurred...
Forum:
Brokers
November 5th, 2012, 10:10 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
FCMReform Correct me if I'm wrong but I'm...
FCMReform
Correct me if I'm wrong but I'm not seeing any protection from regulators regarding the equally risky issue of hypothecation and the zero protection with UK subsidiaries? Any thoughts on...
Forum:
Brokers
October 18th, 2012, 05:24 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
FCMReform Many thanks for continuing to...
FCMReform
Many thanks for continuing to update this thread. From your posts I'm able to find out exactly what is going on in this thread in a few seconds than spending 10 minutes on google trying...
Forum:
Brokers
September 30th, 2012, 10:50 AM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
Additional financial disclosure requirements is...
Additional financial disclosure requirements is pointless in my opinion. All this shows is the CFTCs poor understanding of the risks faced by futures traders and the steps required to address these...
Forum:
Brokers
August 17th, 2012, 04:00 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
FCMReform Thanks for posting that. A couple...
FCMReform
Thanks for posting that. A couple of comments:
Frankly, after reading that I'm not sure Mr. Gallert really understands the issues. All this looks like is marketing to me. For...
Forum:
Brokers
August 15th, 2012, 06:54 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
FCMReform Actually, I doubt this would...
FCMReform
Actually, I doubt this would have made any difference as PFGs public disclosures would have been based on falsified financial data. Bear in mind they had audited financial...
Forum:
Brokers
August 13th, 2012, 07:42 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
FCMReform The costs will likely be...
FCMReform
The costs will likely be prohibitive pushing some of the smaller FCMs out of business unless they can pass on the costs to the trader via higher commission costs.
I'm not...
Forum:
Brokers
August 13th, 2012, 07:23 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
steved Because most other options are...
steved
Because most other options are not very appealing either i.e pick your poison. I mainly use IB for swing trading futures because ninjatrader ATM strategies are from what I can tell...
Forum:
Brokers
July 23rd, 2012, 12:45 AM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
traderwerks A couple of points. This not...
traderwerks
A couple of points. This not investment fraud. Investment fraud is where someone offers you to invest in something (say those nigerian scams) then they disappear and you never see your...
Forum:
Brokers
July 20th, 2012, 09:50 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
ThatManFromTexas My understanding is the...
ThatManFromTexas
My understanding is the cash sweep is treated the same as the IB cash sweep, i.e. if the TD customer doesn't select the FDIC account it goes into the SIPC insured equities cash...
Forum:
Brokers
July 20th, 2012, 09:06 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
ThatManFromTexas Thanks for clarifying that....
ThatManFromTexas
Thanks for clarifying that. It looks they have a blanket bond to cover fraud, which I was unfamiliar with. I will update that part with accurate info. They only cover $100k for...
Forum:
Brokers
July 20th, 2012, 07:06 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
ThatManFromTexas TD is an anomaly. If you...
ThatManFromTexas
TD is an anomaly. If you look at Note 4 in the opening post you will see the FDIC. The sweep is in fact to an FDIC insured account as it is not a securities cash account although...
Forum:
Brokers
July 20th, 2012, 05:26 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
eudamonia Not to quash your enthusiasm but...
eudamonia
Not to quash your enthusiasm but suspect this would be an extremely expensive and time consuming process. For a start even if Lloyds would cover futures you would need a sizable pool of...
Forum:
Brokers
July 20th, 2012, 02:51 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
Hi, Total loss because you have no...
Hi,
Total loss because you have no coverage
Why isn't it feasible to transfer every one or 2 days? It's just an online transfer from one account to the other plus tradestation have ACH....
Forum:
Brokers
July 20th, 2012, 02:17 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
Update to Article and Main Conclusions
Given additional information and potential risks derived about IB's prop trading operation this information has been included in the opening post:
OTHER RISKS
Note 10-Further investigation into...
Forum:
Brokers
July 12th, 2012, 10:41 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
Outlier. I agree with you about this. I wrote...
Outlier. I agree with you about this. I wrote about this here and it's worth updating the first post with this key point. At the end of the day IB and TD etc can say what they like but it's the...
Forum:
Brokers
July 12th, 2012, 10:26 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
aligator. As mentioned above I currently use IB...
aligator. As mentioned above I currently use IB for futures, also AMP for futures and TD for stocks. Frankly, the issue for me personally is am I going to reduce my uninsured cash in AMP and move it...
Forum:
Brokers
July 12th, 2012, 05:37 PM
Replies:
112
Futures Broker Due Diligence Notes post PFG
Views:
40,845
Posted By
djkiwi
Futures Broker Due Diligence Notes post PFG
After the PFG collapse I've been evaluating my futures brokers to determine whether my capital is adequately protected. I'm certainly not panicking but it is clear regulation is poor and the required...
Showing results 1 to 18 of 18
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