Global Futures and Open E Cry

[pearce68 10]

Hi all,

 

I have an account with global futures, as they are an introducing broker my money is held by open e cry.

I have a £10,000 account and want to put more but just wanted to check with you guys how safe they are, what experiences have you had etc?

 

I am based in the uk and feel a bit edgy after the mf global fiasco!

 

Any feedback would be much appreciated.

Matt

[TheNegotiator 13]

Hi all,

 

I have an account with global futures, as they are an introducing broker my money is held by open e cry.

I have a £10,000 account and want to put more but just wanted to check with you guys how safe they are, what experiences have you had etc?

 

I am based in the uk and feel a bit edgy after the mf global fiasco!

 

Any feedback would be much appreciated.

Matt

 

Hi Matt,

 

I think open e cry are meant to be okay but then so were MF. I used to clear with those guys at one point so you just never know. The risk with a £10k account is that's probably your startup capital and so you can't spread it about or minimise the % of the capital held with them. I couldn't guarantee it and I haven't used them myself, but I think they are meant to be okay. If you have another £10k (or even £5k) why not open an account elsewhere?

[TheNegotiator 13]

Hi all,

 

I have an account with global futures, as they are an introducing broker my money is held by open e cry.

I have a £10,000 account and want to put more but just wanted to check with you guys how safe they are, what experiences have you had etc?

 

I am based in the uk and feel a bit edgy after the mf global fiasco!

 

Any feedback would be much appreciated.

Matt

 

Found this review by Brownsfan:-

 

http://www.traderslaboratory.com/forums/brokers-data-feeds/1904-review-open-ecry-futures-broker.html

[TheNegotiator 13]

Found this review by Brownsfan:-

 

http://www.traderslaboratory.com/forums/brokers-data-feeds/1904-review-open-ecry-futures-broker.html

 

Maybe he still uses them. If he does perhaps post in that thread and he could well reply to you

[pearce68 10]

Thanks Negotiator,

 

I guess its just a risk I have to take but I'll see how much capital I could raise for another broker. The main problem being that most of the big ones (IB) require a 10k minimum.

 

Just out of interest, who are you with?

 

Best regards.

[TheNegotiator 13]

Thanks Negotiator,

 

I guess its just a risk I have to take but I'll see how much capital I could raise for another broker. The main problem being that most of the big ones (IB) require a 10k minimum.

 

Just out of interest, who are you with?

 

Best regards.

 

Several but I wouldn't necessarily recommend you go with any as such. I think that there's no way to be absolutely sure that your money is safe so it's important to keep an eye on things and plan for the possibility of things going wrong.