Your comment seems kidding but in reality, I have to believe that is it. Retail investors are always lamb to be slaughted especially, trade in short term. Even professionals suffer that much but they can find out and smell sth. but retail investors may only say nothing but Fu*k. I doubt that it may be common practice in the line that retail investors are never known.
My answer is yes. can be seen by professionals and definitly they would take advantage on that. I saw a post to complain his stop executed without any price posted. He phone the broker. The response say the quote is not available in public. Awch. In my knowledge, that is TD but other brokers do the same way I think.
Fighter, what did TD Waterhouse mean by "the quote is not available for public"? Does it mean they (or their buddy market makers) traded though under the table disregarding best bids/offers just to hit the stop price quote placed at TD Waterhouse?
I didnt remember what exact post was. but very surprised that the guy aware there was no price to hit his stop. then he phone the broker. the broker seems know public would argue and return response saying the price occured in internal system. I am no professional so I cannot judge that. But I can imagine. for reail investor, no matter how smart you are, you still have lot down side on your side. as to the broker, dont be too serious. Maybe I remember wrong but I can imagine most brokers do that way.
The following piece of information might be helpful for newbie traders: Fighter doesn't know anything about stops, and his rantings are best disregarded.
What security classes are you talking about here? In most securities, this is clearly illegal and if there is true evidence of this, I believe several securities class action (e.g., Garden City) will be more than glad to help out. Maybe Cuomo would be interested in following in the footsteps of Spitzer and would love to hear from the accuser. Having said that, in forex, there's no prohibition against a dealing desk doing this. (In an ECN model, there are legitimate common law claims if the ECN operator made this info avail to select participants.) But TDW did not trade forex. I believe TDW did only equities and options.