brownsfan019, You got to be kidding. Either you are the STUPIDEST broker in the world, or you are very DISHONEST. I think it is a combination of BOTH. First of all, You are only a broker. You are only a tiny fish in the big ocean with thousands of other brokers. There are thousands of brokers that the trader can choose from. The trader picks the broker, the broker does not pick the trader. You as a broker need the customer(trader) more than we need you. You will starve to death and your children will starve to death and live in poverty without customers. You need customers more than the customer needs you. If you expect to get any customers of even keep the ones you have, then I suggest to you that you should NOT attack the people who feed your children and yourself. You will go hungry and live in poverty if you don't change your attidute. But I see that you listed your broker books and training CD's and other broker training material on ebay for sale. You posted in the classified section of this forum. So that tells me that you are hurting for money and you are not a successful broker. It's only a matter of time until you sell all your assets because all your customers have left you and the few that you have remaining will eventually leave you because of your bad personality and terrible customer service skills. DONT'T FORGET. YOU ARE ONLY ONE BROKER AMONG THOUSANDS. YOU NEED THE CUSTOMER MORE THAN THE CUSTOMER NEEDS YOU. THE BROKER DOES NOT CHOOSE THE CUSTOMER. THE CUSTOMER CHOOSES THE BROKER.
I'm sorry zoo, but I can only infer that you are a kid who has never even remotely been involved in business. You can flip "broker" for "customer" in your rant without any conflict at all. A broker chooses his customer. How do you think one broker charges $80 in commissions round trip and another charges $3? One chooses the high-end, advice-seeking client, the other chooses the do-it-yourself client. A broker seeks a client who will make him money. He has fixed costs--he maintains accounts with his clearing member or directly with the exchange. This costs big money. He pays for data fees, for back office staff, audits, insurance, etc. Do you have ANY clue how much insurance costs for a broker? It is *insane*. Most important, he is *covering* you! If you blow through your margin, it's THE BROKER who is responsible to the member or the exchange, not you. He's going to come after you to collect, but it's his money that he's out until he does (assuming he can!) Does it now make sense why a few other posters said they were happy to see a broker turn you down? If you blow your margin and put the broker in financial jeopardy, it's EVERYONE who suffers. You may cost ME money, and I'm just another customer like you. So, I would argue the exact opposite: There are thousands of customers. The broker gets to choose which one he wants. He will not go hungry if you decide to shop elsewhere. Time to realize--all business is bidirectional. You should already know this from trading. No one is going to sell you a contract because it's to YOUR advantage, just like no one is going to sell you brokerage services because it's to YOUR advantage. Welcome to the real world. Surprise! It's not all about you.
YOU: A broker seeks a client who will make him money. He has fixed costs--he maintains accounts with his clearing member or directly with the exchange. This costs big money. He pays for data fees, for back office staff, audits, insurance, etc. Do you have ANY clue how much insurance costs for a broker? It is *insane* You sure sound like a greedy used car salesman in the above statement. A broker has a duty and a contract with the SEC, and that is to look after the best interest of the client. You are not looking after the best interest if you publicly stated that you only care about own commissions and not the customers. You can lose your broker license because of the above statements. What is the name of your company again which you are a broker for? Your expenses are not my problem or any other traders problem. If you can't handle the expenses of being a broker because of your lack of customers, then I suggest you get out of the business. I certainly would not want a broker like you who complains about his business expenses. You sound unsuccessful in your last statement. And I could care less how much your broker insurance cost. That is your problem. Not the traders. Traders dont' worry about your bills, we only are here for one thing and that is to trade. So keep your business expenses to yourself and stop complaining like a woman. YOU: So, I would argue the exact opposite: There are thousands of customers. The broker gets to choose which one he wants. He will not go hungry if you decide to shop elsewhere. The broker does not choose the customer. The customer chooses the broker. You are wrong. There are 1000's of brokers in the world but only very few active traders. This is why brokers are getting out of the business daily. They can't make a living because of the competition of more friendly and better brokers. The internet has given the customer more knowledge to research bad brokers, such as the ridiculous comments you are making here. You can be checked out with a click of the mouse with broker public records. There are lots of bad brokers with criminal complaints filed with them on public websites. YOU: Welcome to the real world. Surprise! It's not all about you. WRONG!! It is all about me. It's about me and all the other traders in the world. Without traders, then you would not be a broker. So it is ABOUT ME!!! THE TRADER!! THE CUSTOMER. WITHOUT ME, YOU DIE OF HUNGER AND YOUR KIDS DIE OF HUNGER. SO I SUGGEST YOU CHANGE YOUR ATTITUDE. By the way, who are you a broker for? So we can be sure no to waste our time with you.
Zoo - I am not a broker jackass. Here's an idea - don't come on this forum asking for help and then when you get it, bitch and moan. Take your tiny piece of shit account somewhere and blow thru it so the rest of us can take your money. You are a piece of work.
Zoo - you don't have a fuckin clue. I am selling Stock Broker stuff on Ebay b/c I WAS a broker (see the post, I put it right in there smarty) and now I am a full-time trader. I really don't understand why people come on a forum asking for help and then when they get it, they act like a complete ass. This is why I think some people just stay away from ET. Why bother offering your advice to deal with fuck ups like this guy??? Not worth the time.
Mind - I don't know where some of these people come from and how they actually survive in life. Here, we have a post where some of us were trying to help the initial poster and then this 'zoo' comes on here acting like a real jerk with no substance to any of his posts. Like I said, it seems like the quality of posting around here keeps going down and the only area worth looking at is the journals pretty much. It's too bad b/c a board with actual, real life traders could be a useful one.
The problem is the barriers to entry are pretty low. Brokers offering $200 FX accounts or $500 daytrading margins are bound to attract everyone with a few bucks to their name who are SURE they're going to be millionaires in a week.