Welcome To The Golden Minerals HUB On AGORACOM

Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

Free
Message: OT: My brokerage firm just closed down!

HybridTrading, the small US-based firm I have used for several years, has just closed its doors, due to "insufficient regulatory capital". This was a sudden announcement with no prior warning. My assets are being held by their custodian for the time being.

They are trying to determine which brokerage firm to transfer their customers' accounts to. (In the meantime, I have no access to my assets in the accounts I had with them.) Once that transfer is done, I can move my assets to the brokerage firm of my choice.

I suspect that we are going to see more of the same with other brokerage firms--not surprising, based on JS's many warnings over the past few months, but it leaves me with the question: is there any US broker that can weather this financial storm, which has truly only just begun? I want to keep at least some of my stock positions--and certificates, even if I can get them, won't do me any good if I'm ready to trade and there is nowhere to trade them.

Thanks in advance for any thoughts you might have on this.

Gg

1
Mar 18, 2008 08:21AM

Mar 18, 2008 08:29AM
Share
New Message
Please login to post a reply