Dear all,
On Friday the 16th of march even before worldspreads going insolvent ,I had made a call to both the FSA
and the FSCS to find out what would happen IF?
I had a long discussion with one of the the advisors named David and this is my summary.
The straight comparison is done with MF Global .
I did a whole study on the MF Global Clients based in the uk and from my observation :
MF Global Went Insolvent on the 31st october and the uk clients are only started to get the funds back in the 1st week of march..
Now MF Global a total Mess of around 1.2 Billion and Worldspreads 12 Million
So on the basis of this that clients will start to be compensated by the August time.
As I have said in my previous Post I will be making a phone call dead on 12:00 and be posting all my finding
as soon as I finish the call.
Kind regards
Rav
I would be grateful for any information.
ReplyDeleteThank you.
Regards
PP
Thanks for this blog and all the information!
ReplyDeleteThanks very much for setting up this site. I appreiciate the information you're getting.
ReplyDeleteI figured it would take at least 6 months to get my money back - will that involve having to claim from the FSCS or will that be done by the administrators?
Broker that went Broke ....
ReplyDeleteIn Return fo this please can you just send this blog to as many boards and forums when you can
ReplyDeleteThanks
Rav
Rav, good luck with the proceedings and I will follow this for any information about WorldSpreads from a client point of view. Hopefully the shortfall in client funds isn't as large as is currently being estimated. If you need anything or you think that I can be of assistance in anyways you have my email address.
ReplyDeleteAll the best.
Joe Bond (@Joe_Trading)