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TFC Commodity Trading Forum

MF Global segregated funds

Traders beware. I have discovered to my great dismay, that there is no such thing as "segregated funds." Segregated funds can be commingled with the broker's funds at any time and transferred out of the country, for example, to Sicily, at the whim of the CEO or any other thief at the brokerage company, for example, Governor Giaccomo Corzini (D, New Jersey). The trader is left with no funds, but during the civil proceedings, 20 years later, he may be able to recover some of his money, if he is still alive 20 years later. Neither the CFTC nor the SIPC will lift a finger to prevent these depredations in advance or to help you recover your money after it has been stolen by Obama's friend Corzini or other thieves. Your only protection is for you to have your broker wire your funds back to you each day at the end of the trading day and then for you to wire your funds back to your broker at the start of the following trading day. Of course, your broker will still have the opportunity to transfer your funds at will to his bank in Sicily during the trading day, but at least his window of opportunity for stealing your money will be reduced to 4 or 5 hours per day instead of 24 hours a day. There is no point in trying to figure out the direction of the price of corn when your filthy f...ing thieving broker is just going to steal your hard-earned money whenever he wants.

Here is the SIPC's own statement regarding your so-called "segregated funds" (read: "commingled funds"):

Assets held in or margin associated with commodities accounts are not eligible
for SIPC protection.

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MF Global segregated funds