Originally Posted by
forextrader
Can I recommend that you be very very careful which broker you are depositing funds with. Financial markets are very jittery at the moment, and what appears to be a stable, financially sound broker, may in reality not be.
Recent failure of MF Global a prime example - I know folks who have money tied up with them. At the moment, the regulators (laughable) dont even know where the client money is !!!
I agree. There is no FDIC or SIPC to protect you here. For those actually looking to place currency bets, you can do the research and take your risks accordingly. For us point chasers, the risk/return doesn't seems to make sense. I would rather pay a couple percent through other methods than risk this.