This morning I put in a low ball limit order on a thinly traded security. One of the OptionHouse brokers rejected it, and then put the order in from (I presume) his personal account.The security had not been trading at that level and it was unlikely my order would have been filled but at the time there were no other bids on level II. I plan on complaining to FINRA and the SEC. I can't say it cost me any money though it could have. Anyone know an attorney that might be interested in taking it up? I doubt its worth it. See my other thread on crooked brokers. I have screen caps to show an attorney.
In general, front-running is not done by placing nowhere-near-marketable orders in illiquid stuff. That wouldn't make any sense. Not to mention anyone working for a broker has to report all trades in his personal accounts. I'm not saying it's impossible; I'm just saying it would make no sense for someone to take on that kind of risk for no likely reward. You might want to ask them why the order was rejected in the first place. Actually, I just read your other thread. It's clear you enjoy creating fictional drama.
iv been with options house for almost 2 years and i can say their order execution isnt all that bad, esp the way you are saying. iv never had any issues other than referral program bs that they took long in giving me the free trades.
What proof do you have that the order was placed in the market by the broker? Was it rejected manually or verbally?
They don't care, this has been ramping up the past months. The firms are finding it hard to generate income these days, it's just the financial markets doing what they do. In retail you're at the bottom of the slush pile, OptionHouse have a zero minimum starting deposit, when you start depositing in the $millions someone "might" be interested but then you'd be using a more reliable firm anyway. There's just two possibilities, you get what you pay for -or- you play them at their own game, but the last one needs something very special. Now, people won't see any of this inside the core of the normal distribution (ie. income traders which more or less covers everyone in public forums), but your trade looks like it falls in the extreme sigma (capital generation), and then all the fun begins.
Has anyone noticed Etrade is worst off with optionHouse? Seems like option house reps have an attitude problem. Called in to report a problem and they gave me nothing but grief. Seems like they don't like their job. It's time to look for a new broker...