|
PureBytes Links
Trading Reference Links
|
I've been a client of Advantage for some time now and when their phones
started being forwarded to LFG I was definitely curious about the
situation. Advantage is under investigation for the method they were
capitalizing their corporation via investors. They are NOT under
investigation for any wrong doing regarding customer accounts.
They had their hearing on last Tuesday with a verdict possible on Wed. As
of Thursday ( I didn't check on Friday) the jury was still out. I'm told
this is a possibly good sign for Advantage because an open a shut case is
usually decided in one day.
The transfer to LFG has been remarkably smooth. I know this has taken a
lot of work on their part. But LFG has been calling me back with all my
fills and their order desk is very professionally run. This "bad"
situation has proven IMHO that the system can work. As soon as LFG found
out about Advantage, they quickly moved in and performed their fiduciary
responsibilities. This bad situation does have a happy ending for the end
user. Bravo LFG!!!
jim hill
-----Original Message-----
From: JMB [SMTP:traderguy@xxxxxxx]
Sent: Friday, June 19, 1998 10:15 AM
To: omega-list@xxxxxxxxxx
Subject: Re: Advantage Trading Group
On Thu, 18 Jun 1998 20:11:08 -0700, you wrote:
>Does anyone know what has happened to Advantage? All their phones have
been
>disconnected.
>
>Thanks,
>Kim.
Kim,
Several months ago I posted a message that "I was looking for an LFG /
LEO-WEB Broker."
I got a tremendous response from "Omega Listers", with a large
percentage of people who said they used.... Advantage Trading Group!
I mean a LOT!!
I didn't go with them, because "they seemed too good to be true", if
you know what I mean! You know... one of those famous sayings your
mother used to tell you!
Actually, my concern about this situation would be a hypothetical
question regarding IB's in general for those who may know?:
1) IF an IB were to "go belly up", what would happen to their
clients' accounts? Both short & long term??
2) Could those clients be harmed financially??
Needless to say, I feel sorry for ALL those "clients", that may be or
could be "burned" if something "terrible" were to happen to this or
any other broker!
PS. YES, I did FIND a broker that I am extremely happy with, so
please NO BROKER RESPONSES TO THIS MESSAGE, Thanks!
JMB
TraderGuy@xxxxxxx
|