Auvoria Prime gets this question regularly: “Which broker should I use?”
We've had some people get upset with us when we tell them that we do not recommend brokers. It inspired us to write this article so that there is a full understanding of why Auvoria Prime has taken this position.
The company has researched the legality around recommending brokers and according to our CFTC attorney, we'd have to acquire a series 3 license to be able to suggest a broker, and then it would have to be a list of three brokers. Anything less than meeting these requirements is illegal for Auvoria Prime to do as a company.
As a result of these legalities and the desire of Auvoria Prime to avoid any misunderstandings of the company’s mission to help people be more financially literate, the company has made the official decision to not engage in suggesting brokers and it would be a violation of policy for a customer service representative or any other staff member.
We know other companies recommend brokers but that does not make it right and Auvoria Prime has made a commitment to always “do the right thing.”
We believe the best way to find a broker is to ask people in your trading communities which brokers they use. There are a number of factors to consider when choosing a broker and we leave this up to the individual to research.