No I surely wouldn't consider Fidelity a bucket shop. I never said that firms offering credit cards are bucket shops. I said I would never trade with a firm that did. I just find it to be in not good taste. Although it does have a bucket shop mentality to it
I never said it was particularly "High Class" to offer a credit card, These firms offer this as a convenience. Do yourself a favor and look up the definition of a bucker shop or read "Reminiscences of a Stock Operator".
EBO Iâm very well aware of what a "technical definition" of a bucket shop is. However, the word has taken on a more encompassing meaning since the time of Livermore where the corner store bucketed the trade. I know that by taking credit cards it doesnât make a firm a bucket shop by the hard as fast definition. However, it puts me in mind of the âstyleâ. I understand that institutions such as Fidelity do this as a supposed customer service. However, when I see that a firm offers credit cards I can easily see the corner bucket shop store in the 20âs doing this if they could. Or if we go back even further how about credit cards for tulips.
EBO - in case you didnât get that last part do yourself a favor and read: Extraordinary Popular Delusions & the Madness of Crowds. On a more serious note: One of the best reads on futures trading corruption,considering the nature of this thread, I have ever picked up is Brokers, Bagmen, and Moles: Fraud and Corruption in the Chicago Futures Markets With e-trading its maybe not as applicable as it was a few years ago but still a great read.