Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Re: In the light of MF Global.../Gian

Hi Gian,
I would tend to agree with that.

That has always been one approach to bank accounts, no matter the size. Even though the FDIC hasn't as yet fallen on it's face, it does take some time to get your hands on the money and you do have to eat in the meantime !!!!

There was an era of Savings & Loan failures awhile back that seemed to bring the notion of spreading accounts among multiple banks to the forefront. But Banks fail all the time and I am not aware of any that were not covered by the FDIC.

My broker, Ox, sweeps excess cash into interest bearing accounts daily (not that the interest rates are worth worrying about these days) but if you are fortunate enough to exceed the FDIC limits, the funds are deposited into separate accounts such that the FDIC limits are not exceeded. I would like to have the problem of worrying about what to do if I were to exceed their deposit limitations, it is a big number that I no longer recall.