Sep. 8, 2023
During Covid I thought I would open a small online trading account myself and learn more about the market. Well I did, and as of last week, I called my regular broker of 20 years and closed my account with them. I am Canadian and will no longer participate in the US markets because, among others things: PFOF, regulatory bodies including Finra and SEC not doing their jobs, no significant penalties for those breaking the rules (such as they are), lack of respect for and ridicule towards retail investors. Market manipulation is rampant in the market, everyone seems to know about it and nothing is done. And of course, there’s the MMTLP fiasco (yes, where are the blue sheets?). I know I’m not the only one wanting nothing further to do with the market and I hope many others follow me as it appears there is little interest in fixing it.