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-   -   Cy Group is not registered with FINRA (http://www.elitetrader.com/vb/showthread.php?t=240183)

HeSaidSheSaid Apr 4th, 2012 07:52 PM

Cy Group is not registered with FINRA
 
initially, I searched the FINRA website to see if Cy Group is registered with them, but nothing came up. then I sent email to FINRA to inquire about the group registration, they also confirmed the firm is not registered with them.


http://www.cygrouponline.com/


http://www.finra.org/

shneed Apr 4th, 2012 08:11 PM

now what?

rmorse Apr 4th, 2012 08:28 PM

They don't claim to be broker dealers on their website. What made you check?

EvOTraderV2 Apr 5th, 2012 09:22 AM

I think they're a sub of a CBSX b/d. CBSX firms are not registered with FINRA. FINRA is a different SRO and regulates mostly retail firms.

I personally have never dealt with them but they've been around a while. If they require a series 56, they are operating legally and your account will be registered with a heavily-regulated broker-dealer. If the accounts are off-shore and they are operating out of the US, then you may want to do your due diligence prior to selecting a firm to trade with.

disclaimer: I have no experience with the group. I have never traded with them and I'm not affiliated in any way, shape, form, scope or measure. Just putting out the facts.

t0pd0g Apr 8th, 2012 10:29 PM

They are NOT a sub of any CBSX BD. They are operating a unregistered and illegal BD in the US and these firms are aggressively being shut down by the SEC. BEWARE!

TD

Quote:

Quote from EvOTraderV2:

I think they're a sub of a CBSX b/d. CBSX firms are not registered with FINRA. FINRA is a different SRO and regulates mostly retail firms.

I personally have never dealt with them but they've been around a while. If they require a series 56, they are operating legally and your account will be registered with a heavily-regulated broker-dealer. If the accounts are off-shore and they are operating out of the US, then you may want to do your due diligence prior to selecting a firm to trade with.

disclaimer: I have no experience with the group. I have never traded with them and I'm not affiliated in any way, shape, form, scope or measure. Just putting out the facts.


shneed Apr 9th, 2012 01:54 AM

why do you care what type of a firm they are, do they owe you money something, did they mistreat you?


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