In a not so stunning turn of events, it appears that another online brokerage has “misplaced” about $220 million in customer funds. According to a National Futures Association inquiry, PFG Best may have falsified deposit information by stating they had $225 million on deposit at U.S. Bank when in fact they only had $5 million.
As if market volatility is not enough reason for investors to consider other investment options, now they have to worry about their brokers stealing their funds. This is not an isolated incident. Remember, it was not so long ago that MF Global mysteriously lost clients money as well.
Read the entire story “Futures Broker PFG Best Freezes Accounts” and see further evidence how Wall Street is not your friend.
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