The broker can't take your money and use it for something other than what you intended. Outright fraud does exist. A classic case occurs when you give the broker cash and it never gets into your account. Another instance is when you ask for proceeds and the broker always seems to have an excuse for why the check isn't ready.

We have seen cases where the broker forged a customers name to a check. One case had a broker who debited the customers account to pay his own credit cards when it was common for the customer to do the same thing. The customer didn't notice for several months.

The types of fraud that brokers can commit when they are exposed to large amounts of money and they don't have any themselves are almost limitless.

If you believe you have lost money because of broker fraud, let our Stock Loss Recovery Team review your account.