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Yes! I warned everyone in this post (last post of page): http://www.elitetrader.com/vb/showthread.php?threadid=235295&perpage=6&highlight=lake%20and%20street&pagenumber=13 "I hope I didn't imply they are crooks. I don't know them personally and have no knowledge if they have stolen...

Cmoss, I hope I didn't imply they are crooks. I don't know them personally and have no knowledge if they have stolen anyone's money yet. I don't think they have criminal intent, but they are taking shortcuts by not registering as a broker dealer. It is highly probable that the SEC will...

See this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=248221&perpage=6&pagenumber=1 Looks like people are having issue with them paying. The SEC is shutting down these unregistered firms left and right. Stick with a CBSX BD.

I have non-US friends who have traded at Nevis Trading for a long time and are very happy there. They have the best reputation of all the firms you list.....at least the ones I have heard of....have never heard of Affinity or Wasserman. Also, I know they have very low rates and great customer...

Yes and no. Lake Street trades through Broad Street International. The entity that was shut down was Broad Street US, a registered CBSX broker dealer that required traders to have a Series 56. What I hear is that Broad Street CBSX could no longer meet the financial requirements to stay a...

Glad to see it all worked out. This is why you should stick with a registered BD. There will always be the "Madoff" situations but overall a regulated entity is better than these fly by night unregistered LLCs.

Another unregistered LLC. Stay away. These firms are being shut down by the SEC and you will probably lose any money you have there.

If you have been following the industry and the ET Prop Trading forum, you would have known that these types of firms are aggressively being shut down by the SEC. Lake Street has been mentioned as the type of firm that the SEC is going after and I wouldn't be surprised if they have been shut down.

So you never, ever, ever, ever send them money??? What about for software and quotes? Is there a screening process or do they let everyone in? Is it a loss leader so when you lose $100 they come back to you and say "we would love to have you stay but you need to deposit a little cash if...

At least you guys don't have all your eggs in one basket. Are you moving all your clients away from Penson and to your other clearing relationships. If not, why?

I believe rmorse has stated on these boards that the firm he represents clears Penson.....blind faith I guess. The price of the stock is all you need to know. Stocks don't trade at $.16 cents for no reason. Wait til they get the notice from NSDQ that their stock is going to be...

You are exactly right....even though accounts are SIPC insured, people should read exactly what that means and how it is different for cash and securities. Also, when (and I'm not saying "if") Penson either files for bankruptcy and seeks protection there is a high probability that accounts will...

Picking up pennies and losing nickels.....but good luck.

Rebate trading with Citibank was so much fun. The stock moved 3 cents all day and you could trade tens of thousands (or hundred of thousands) shares a day and make great coin. The problem with trying to rebate trade BAC, NOK, etc is that they moved too much. They might have a 10-30 cent...

Busted! Ouch!

this Tradestation plug is excellent: www.daytradepairs.com

Benzinga is a total joke. Recycled garbage full of useless advertising. I challenge anyone to find something useful on that site.

Benzinga is a total joke. Recycled garbage full of useless advertising. I challenge anyone to find something useful on that site.

You really have no idea what you are talking about.

You should have done a search on Elitetrader first. They have a very bad reputation for doing exactly what you claim.