This is not intended to bad mouth HLV trading but more of a question. I have traded there before and they wouldn't give me a 1099 because i was not profitable last year. So first thing that came to my mind is im going to take a capital loss. Guess what? HLV said they only give 1099 to those who are net profit. So this means my capital losses belongs to them and they will take the benefit of tax write off. The problem with this is if im profitable i pay the tax and if your not profitable they take the loss and the tax benefit of trader capital loss??? I'm just wondering if this is legal? Here is some statement of the agreement... I admit signing this is one of the dumbest thing i have ever done in my life. Not trying to bad mouth them, hlv does have some advantages like cheap commission. But, im wondering if this is legal? Can someone please answer. Here's that one line in my trader agreeement: "You understand and agree that all right, title and interest in and to the Company Account, the Trader Sub-Account and the profit and loss thereon are and shall be the property of the Company, except to the extent that you are entitled hereunder to receive a percentage of the net trading profits as per schedule A, obligated hereunder to bear the Trader Losses, and entitled to receive, upon the termination of this agreement, that portion, if any, of the Deposit Balance not required to re-pay Losses. Therefore, you should understand that any losses on securities transactions in the Company Account, including in the Trader Sub-Account, belong to the Company, and not to you, and so are not available to you to offset any ordinary income or capital gains that you may earn during any tax year. "