A credit union is essentially a customer of a national bank. All the credit unions customers get lumped together into one account at the bank. This might be news to some of you but that is how it is. Do all brokerage firms go direct to the market, or are some firms 'customers' of institutional firms in a manner similar to the credit union vs banks arrangement?
The whole world to discover. Thank you for this tread - will be interesting to see what others will say. What we learned through our pain and battle as you better to verify at the beginning if the broker registered within the supervising authority for the security you have the intention to trade and if the broker is the member of the exchange. In our case, our officers - Credit Suisse/Bahamas? and UBS/Bahamas/ were, not members, not registered with any supervising authority. They did not provide us any time and sell sleep and did not disclose what they used to place our orders if they placed it. Which we doubt they did.
And, I think it was another post, someone was robbed by Forex broker. Our cases are in court https://www.elitetrader.com/et/thre...-bahamas-your-help-will-bring-victory.320417/
%% I'm sure some are; but CU is known for paying more [on average] that a bank. BOTH are federal insured- if you see the sticker........................................................