Can the broker know where I am physically trading from?

  • Thread starter Thread starter 3acor
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It's old and the links are taken down. This related to both opening accounts and accepting orders.
It's also why in the US a firm will require a broker to register in all the state and territories. A NY licensed broker has clients who vacation in Florida - his firm will want to become Florida registered to accept their orders.
If they accept an order originating from a state they are not registered in - the client has recision ability.

The PDF has the settlement of optionsXpress vs the individual providences.
 

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ETJ said:
It's old and the links are taken down. This related to both opening accounts and accepting orders.
It's also why in the US a firm will require a broker to register in all the state and territories. A NY licensed broker has clients who vacation in Florida - his firm will want to become Florida registered to accept their orders.
If they accept an order originating from a state they are not registered in - the client has recision ability.

The PDF has the settlement of optionsXpress vs the individual providences.
More...
Reading comprehension is just such a lost art these days. From your link "On August 11, 2005 provincial securities regulators for 10 Canadian provinces concluded a settlement agreement with optionsXpress, a Chicago based internet trading firm that permitted Canadians to open internet trading accounts and trade securities in the United States." Perhaps you can point out where it covered the location where traders happened to be when they initiated trades?
And you are just simply flat out completely incorrect that a broker in NY can't accept orders from a client when traveling in Florida unless also registered in FL. Where do you come up with this stuff?
 
What if you call the broker from your TELEPHONE in a country that you are not registered in, and ask them to place a trade for you? Will they refuse it because you are not in the country you are "registered to trade from"?

Does nobody in the world do anything non-Internet these days?

Call your broker and place a trade?

Good grief, LOL!

Why does everyone think they have to trade from an IP address? Pick up the phone and make a call if yer paranoid.
 
Sig said:
I'm just struggling to understand a single scenario where the location I'm trading from would constitute money laundering or even have anything to do with it? .
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Agree but the point I am making is if you call your broker and ask if you can hide your location you are setting off red flags. There are many reasons why a broker may be required to look at your IP address and/or regulators requesting it. Hiding the address and the reasons for it would form a piece of the puzzle.
 
eastern_warrior said:
...but the point I am making is if you call your broker and ask if you can hide your location you are setting off red flags.
More...

And if you call the police, and ask "What's the best way to dispose of a dead body?" You are setting off red flags.

My point:

No one mentioned calling their broker and asking silly questions. You came up with that on your own. Just as no one mentioned calling the police and asking silly questions.

Conclusions:

You and I are both correct. If you call your broker, or the police, and ask silly questions, you'll set off red flags.

Both of our "points" have the same exact relevancy to the original discussion.
 
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