This is actually a warning to all non-chess HIN brokerage customers. I found this article last year about the BBY collapse and the custodian customers will only be getting a fraction of their stock portfolio. Scary stuff.
https://www.fool.com.au/2020/08/21/bby-clients-to-get-some-m…
More details:
https://home.kpmg/au/en/home/services/advisory/deal-advisory…
You mean Scomo?
Not if you are poor
Just like Robinhood.
"BBY Nominees apparently acted as a trustee and nominated custodian for clients of the BBY business in respect of domestic and international accounts as well as holding ‘house accounts’. At the time of administration, the records available to the Administrators were inadequate to determine the identity of BBY Nominees clients and creditors, the extent of assets the Company held and whether assets were owned by the Company or held on trust for others."
Same setup as Superhero - Superhero Nominees acts as custodians.
which one got the cheapest brokage? with chess HIN
Personally use and like selfwealth.
OpenTrader up to $5k is $5/trade
Selfwealth is $9.50/trade flat
Stake when it launches to public will be $3/trade (free trade until 2022 for people with Beta access).
FWIW, I don't particularly like OpenTrader (signed up but didn't use it) because they don't have MFA (or they didn't when I looked)
Don't worry. The feds will bail out the investors.