Anyone a PFGBest Client? Start Looking for a New Broker

In case you haven’t heard, PFGBest accounts have been frozen by the NFA (National Futures Association) due to insufficient funds to carry out trades. More than $200 million in customer funds are missing. At this time, PFGBest cannot accept new clients nor can trades be placed through their service, with the exception of liquidating existing customer positions.

Within hours of this announcement, Russell R. Wasendorf , PFGBest President and COO, was found in critical condition in his car after attempted suicide. Employees were packing up because of the “impending doom” of PFGBest’s condition.

Less than a year ago, MF Global was in a similar position for misappropriating customer funds.

8 Comments

  • pfgbest ripoff says:

    The firm manages 3,486 accounts totaling an estimated $988 Million of assets under management. guess how much went into his pocket?

  • nubi says:

    never liked them before and less now even
    day trading futures i use different brokers who hope money is safe

  • boris says:

    ya nice huh? he was the only to ever see the company’s bank statements and would make forgeries to get the people’s moneys. nice way to make a living

  • julia says:

    missing more than $200 million in customer money, nice going Wasendorf!

    Brokers will make you Broker!!

  • nuryt says:

    i have seen a lot of talk about this in the news lately

    am looking for a new broker myself

    thanks for covering this topic and other stuff, very informative!

    good weekend.

  • udameme says:

    interactive brokers mine who i use and they good n cheappp no good for pfg not so best

  • trader ninja says:

    maybe if pfgbest would give out some free indicators like u guys they would be better off! i heard they are not great anyway. just how it all goes down…

  • Anderson Liberal says:

    yes, Rithmic is good and they have this site as well http://www.tradersplatform.com

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