This is why I don't have anything to do with the securities market anymore. The big guys can lie and cheat and all they get is a misery fine. A fine which they'll probably write off as the expense of doing "business."
Someone I know told me she was close to her broker & found out how they did things. If someone wanted to buy or sell say XYZ they would buy or sell it for them at some point that day. The broker, of course, made trades for themselves too. At the end of the day they allocate which trades went to who and the broker always took the better deals for themselves. (You know the lowest buys & the highest sales.) Ever wonder why you always seem to trade at the worst price of the day?
This is why I don't have anything to do with the securities market anymore. The big guys can lie and cheat and all they get is a misery fine. A fine which they'll probably write off as the expense of doing "business."
This system is doomed to fail. Thank God!
Someone I know told me she was close to her broker & found out how they did things. If someone wanted to buy or sell say XYZ they would buy or sell it for them at some point that day. The broker, of course, made trades for themselves too. At the end of the day they allocate which trades went to who and the broker always took the better deals for themselves. (You know the lowest buys & the highest sales.) Ever wonder why you always seem to trade at the worst price of the day?