Re: In the light of MF Global...
Hmmm, that is not what I want to hear.
I had discussed using a Broker in the Cayman islands as well. They told me they would not accept US citizens as customers, because the US crawls up thier behinds too much. There i some sort of treaty between us and the Caymans that allows them to do that.
Although, the broker I talked to there cleared through US FCMs anyway, so that kind of defeats the purpose.
So basically, I see that my choices are to either become a citizen of Uruguay, or some such country, or accept the fact that i can lose my entire account, even if I am not actually in a trade, or just not trade.
I am beginning to think the best thing to do is just pull my course off the market(since I won't need to fund my account anymore), and go work for a broker, thereby letting someone else risk thier money, instead of me.
I really don't like the idea of getting up, and taking the train into Chicago every day, but I dislike the idea of having my FCM go under, and being locked into a trade going against me for 6 weeks even more.