How to Check Out a Broker On-Line

How To Check Out A Broker On Line Splash image

Broker information on the Web can be divided into two camps: Sites that provide disciplinary or background information about a broker or firm, and sites that provide customer evaluations of brokerage firms.

Background Checks

Background checks of individual brokers or brokerage firms should be made by using both the FINRA BrokerCheck and by requesting information from your state securities regulator. The Financial Industry Regulatory Authority (FINRA) regulates brokerage firms and their employees. State disclosure programs may provide additional information on brokers licensed by the state. You also should check to make sure that your broker is covered by SIPC (Securities Investor Protection Corp.) insurance—for more on this see the box here.

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