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Brokers, Broker Reliability, Online, Options, Data, News Discussion
mullokintyre
post Posted: Mar 17 2020, 02:54 PM
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In Reply To: nipper's post @ Mar 17 2020, 02:44 PM

Opportunity for whom,?
The depositor of the cash, the guvmint, the financial institution or the online scammers?? stun.gif

Mick



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sent from my Olivetti Typewriter.
 
nipper
post Posted: Mar 17 2020, 02:44 PM
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In Reply To: mullokintyre's post @ Mar 17 2020, 12:29 PM

QUOTE
prudent to look at putting money into multiple accounts to with multiple institutions to spread the risk....


and the opportunity !!



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
mullokintyre
post Posted: Mar 17 2020, 12:29 PM
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In Reply To: NPH's post @ Mar 16 2020, 09:01 PM

If you go back to the initial stages of the GFC, there some complications with accounts.
There was a limit to the amount of withdrawals for some funds, some balk accounts, and limits on how much the govt would guarantee bank deposits with the big four (thinkl from memory it was up to 1 mill).
It would be prudent to look at putting money into multiple accounts to with multiple institutions to spread the risk.
Mick



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sent from my Olivetti Typewriter.

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NPH
post Posted: Mar 16 2020, 09:01 PM
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Does anyone have an opinion on how safe deposits are with CMC markets? I have sizable profits in a CFD account

Rumors around Westpac solvency on Twitter

 
triage
post Posted: Mar 21 2019, 06:47 PM
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In Reply To: blacksheep's post @ Mar 21 2019, 01:14 PM

Good to see the plod involved. If the matter was left to the financial regulators ...



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"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog
 
blacksheep
post Posted: Mar 21 2019, 01:14 PM
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In Reply To: blacksheep's post @ Mar 20 2019, 11:47 AM

AFP raids broker's offices as retiree loses $270k in superannuation
QUOTE
Key points:
Australians are trading millions in the risky world of forex trading
A retiree in his 70s lost hundreds of thousands of dollars of superannuation through investments
Another client complained to authorities, but his case has dragged on for more than seven months

read more - https://www.abc.net.au/news/2019-03-21/reti...ection=business

QUOTE
]Forex trading is a highly complex and risky form of investment, which experts say is actually more akin to gambling[/u].


Terribly sad but I cannot understand people investing in something they have no experience in

QUOTE
$120,000 lost in one night
Fransisco Marques said he was cold-called by a ForexCT representative in April last year. Although he has no experience in forex trading, he was convinced to invest $500 with the offer that ForexCT would match it.

Within weeks, the 73-year-old former rigger, who lives in Melbourne's northern suburbs, was locked in a spiral that ultimately led to him investing $270,000 of his superannuation with the broker.




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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 

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nipper
post Posted: Mar 20 2019, 11:55 AM
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In Reply To: blacksheep's post @ Mar 20 2019, 11:47 AM

QUOTE
the opaque world
WYSIWYG ... or in this case: What You Can't See Is What You Can't Get Back



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Mar 20 2019, 11:47 AM
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Millions withheld from Australian online traders as broker has licence stripped and accounts frozen
QUOTE
A muscle-flaunting Melburnian who boasts about his sports car collection and playing poker with underworld figure Mick Gatto is at the centre of a company holding millions of dollars in clients' money that can not be accessed.

Key points:
Australians are trading millions in the risky world of forex trading
The accounts of forex trading broker Berndale Capital Securities and their former director Stavro D'Amore have been frozen by authorities
Berndale clients are chasing hundreds of thousands from the company and Mr D'Amore, who are appealing against ASIC's decision
Stavro D'Amore is the former director and chief executive of Melbourne-based Berndale Capital Securities, a company whose activities have caused such alarm that ASIC has intervened to freeze their accounts.

Prior to having its licence stripped late last year, Berndale operated as a broker operating in the opaque world of online foreign exchange — or forex — trading

read more - https://www.abc.net.au/news/2019-03-20/mill...ection=business



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 13 2019, 08:24 PM
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In Reply To: nipper's post @ Mar 13 2019, 07:55 PM

Agree. Not sure why people still use a broker - might benefit sophisticated high net worth investors who get special treatment in IPO allocations

I prefer to be in control of my money biggrin.gif although confess I did use a broker briefly when I first started to invest - learnt quickly he was not better than I in picking stocks and charged like a wounded bull.



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Mar 13 2019, 07:55 PM
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Posts: 7,065
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In Reply To: blacksheep's post @ Mar 13 2019, 07:37 PM

QUOTE
...... client money was used to cover off losses on bad bets on investment products by other clients......

keep ownership. Never "pool" . Understand what you are doing. There's a difference between trust and sales pitch.



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: blacksheep  
 
 


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