Customer funds in a segregated accout
Feb 04, 2019 at 09:04
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1 Replies
Feb 04, 2019 at 09:04
My broker says this:
'xxxxxx maintains client funds in segregated client accounts completely separated from xxxxxx' own funds. All client funds deposited at
xxxxxx are fully segregated in accordance with strict policies and procedures.'
What do you understand with this? Are all of the customer's money on a different account than the broker's or just the initial deposit? What happens to the capital gains (~profit) in case of bankruptcy?
No doubt that each individual customer's money are pooled together.
If the company fails, whom am I going to file my claim of refunds?
'xxxxxx maintains client funds in segregated client accounts completely separated from xxxxxx' own funds. All client funds deposited at
xxxxxx are fully segregated in accordance with strict policies and procedures.'
What do you understand with this? Are all of the customer's money on a different account than the broker's or just the initial deposit? What happens to the capital gains (~profit) in case of bankruptcy?
No doubt that each individual customer's money are pooled together.
If the company fails, whom am I going to file my claim of refunds?
Feb 21, 2019 at 07:33
niceGLer posted:
My broker says this:
'xxxxxx maintains client funds in segregated client accounts completely separated from xxxxxx' own funds. All client funds deposited at
xxxxxx are fully segregated in accordance with strict policies and procedures.'
What do you understand with this? Are all of the customer's money on a different account than the broker's or just the initial deposit? What happens to the capital gains (~profit) in case of bankruptcy?
No doubt that each individual customer's money are pooled together.
If the company fails, whom am I going to file my claim of refunds?
That’s the question on regulation; if you are working with a non-transparency broker, then the chance is too low to get back in.
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