Why would the President be my Broker?

[jinxu]

So I just found out that the president of my brokerage firm is managing my account. It used to be just some regular employee in the firm that was managing me. But now it's the president of the firm.

It seems kind of strange to me. Why would the president be managing my account and not one of the regular employee? Should I be worried. Or am I paranoid that the president is trying to figure out my trading secrets?

The excuse they gave me was the president manage some clients account to help out.

 

[southall]

Or am I paranoid that the president is trying to figure out my trading secrets?

My first thought was 'i didnt know Trump was a Broker'.

But seriously, no you are not being paranoid, they are going to reverse engineer your trading system and sell it to hedge funds who will then suck all of the liquidity out of it. I would immediately stop trading with this firm and move your account elsewhere

 

[traider]

So I just found out that the president of my brokerage firm is managing my account. It used to be just some regular employee in the firm that was managing me. But now it's the president of the firm.

It seems kind of strange to me. Why would the president be managing my account and not one of the regular employee? Should I be worried. Or am I paranoid that the president is trying to figure out my trading secrets?

The excuse they gave me was the president manage some clients account to help out.

Which broker is that? Let us know so we can avoid

 

[jinxu]

Which broker is that? Let us know so we can avoid

They're one of the sponsor's here for ET. Still paranoid so not sure if I could give out their name. But chances are they probably already know who I am.

 

[jinxu]

My first thought was 'i didnt know Trump was a Broker'.

But seriously, no you are not being paranoid, they are going to reverse engineer your trading system and sell it to hedge funds who will then suck all of the liquidity out of it. I would immediately stop trading with this firm and move your account elsewhere

Thanks. I'll look into that.

 

[Slartibartfast]

My first thought was 'i didnt know Trump was a Broker'.

But seriously, no you are not being paranoid, they are going to reverse engineer your trading system and sell it to hedge funds who will then suck all of the liquidity out of it. I would immediately stop trading with this firm and move your account elsewhere

Are they not all capable of doing that irregardless of size? Just look for the leaders.

I have a few accounts/brokers however the owner of the brokerage manages my largest account. He knows a ton about trading and has been an incredible asset to me the past few years. The money is in a segregated account.

I personally like having a broker who will ring me just for a chat sometimes.

 

[sandp500trader]

They're one of the sponsor's here for ET. Still paranoid so not sure if I could give out their name. But chances are they probably already know who I am.

Who is it? Is it a small brokerage?

 

[MarkBrown]

YOU GUYS REMEMBER - CYBERCORP?

https://www.cnet.com/news/charles-schwab-buys-cybercorp-cuts-commissions/

i was in their office and they monitored traders accounts and piggy backed the good ones. i saw that first hand with my own eyes.

thats why you need an omnibus account to buy in one and sell in the other not letting them see both sides of the trade.

 

[1NCOGN1TO]

YOU GUYS REMEMBER - CYBERCORP?

https://www.cnet.com/news/charles-schwab-buys-cybercorp-cuts-commissions/

i was in their office and they monitored traders accounts and piggy backed the good ones. i saw that first hand with my own eyes.

thats why you need an omnibus account to buy in one and sell in the other not letting them see both sides of the trade.

How can you protect yourself?

 

[MarkBrown]

How can you protect yourself?

thats why you need an omnibus account to buy in one and sell in the other not letting them see both sides of the trade.