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Can brokers piggyback on their customers?

  #9 (permalink)

Chicago, Illinois
 
Trading Experience: Intermediate
Platform: Ninja
Favorite Futures: ES
 
Posts: 76 since Mar 2013
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nathanologist View Post
Every time I've talked with anybody from my broker from the Sales to Customer Support to Trade Desk they've had no idea what my returns are. They don't seem to have access to my account balances or anything. So... I guess if you're making a lot of trade desk calls instead of software executions there might be an intercept along the way... But I don't think the average personnel have that kind of access.

If I owned a brokerage and wanted to do this, I would only copy the trades of the top couple customers. I doubt they'd have any interest in making less money when they could make more. I also don't think they'd give access to just anyone who works there. I would imagine if anyone did it, it would be the people at the top of the company.

The main question I had was if there was anything in place to keep this from happening. Doesn't sound like there is.

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