It is eveident from this forum of the disdain there is towards brokers.
actually they are more than happy to keep your portfolio under thier names and earn brokerage.
The only thing they do is manipulate and if at all give "advice" which helps them either pump up volume in a certain stock, provides them an advantageous position to appease a HNWI or just support one of their "bet horses " a few of them decide amongst themselves.
Short of naming and shaming this is a very common practice amongst these vermins today.
i have been trading in the market for over 15 years and this situation has percipitated over the past 3-4 years.
Brokers are supposed to be investment advisors... what advise do they give..
e.g. - sell a stock when it begins to run on a particular day and then re-buy same quantitiy at the end of the day at about 15 % premium. I am talking in quantities of 10,000 - 50,000 shares.
Buy particular shares many days after inital buy order was disssued at premium prices... it is done when the broker is " free" with no trades to exceute.
Using CDAX sometimes is not a viable option due to time zone differances and the inability to place buy orders of certain volumes sans cash in till.
These forums are filled with people highlighting short-coming in terms of the SEC and regulation / insider trading.
Have the regulators ever come down hard on the brokers ??? No
Have the regulators ever required Brokers to adhere to a certain levle of ethics and standard practices ?? No ( i guess this is reflective of the present state of the country)
Brokers just do nothing and earn money similar to our ministers....
there are numerous occasions of negligence and outright fruad that have occured, what have the internal compliance (if any) of these firms done.. what has the SEC done... nothing.
I think its high time on-line trading platforms are re-vamped.
Brokerage should only be paid when the broker proivdes advice and exceutes transactions.
Its high time these unethical bottom-dwelling scum called brokers are bought to task and a few are made examples of.