Recent content by BidBuster

While they may not have been stealing customer funds and in their minds running an honest business, they were still an unlicensed broker/dealer which is illegal, in my mind that constitutes a level of fraud, even if the owners try to play the "we didn't know that was the rule" card. They...

So you know, inside scoop on this is that Tuco never actually extended a per share rate that low, but had a very large lot trader on a per ticket basis. They had to work out a special deal with the clearing firm to accomodate him but his volume was high enough to make it worth it (20-30 mil shs...

By the way, if it helps any, when you join a "Real" Exchange Member Broker Dealer Prop Firm such as the ones you mentioned, you are subject to the rules of that particular exchange. So the ones that are PHLX or Arca for instance (you will have to do the homework on who is who), do not require...

Those firms register with the SEC and become a member of an exchange, such as the PHLX, NAZ, ARCA, etc... By doing that there are specific guidelines for which they can legally operate with leverage, they follow the same rules for firms and specialists on the exchange floor for capital...