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Stock brokers? - Stock Trading and Other Things
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Stock brokers?

How can I tell for sure that someone is a stock broker, I contacted the NASAA, and he was not on their list but they told me not all brokers are, I then called the SEC and reffered back to the NASAA. Any ideas???

Public Comments

1. Stock brokers are required to hold a Series 7 (registered rep) license from the NASD, and usually a Series 63 (state registration) as well.

You can search on the NASD website for any complaints or disciplinary action filed against the broker.

2. Ask their license

3. All brokers are registered representatives, and are registered with the NASD. They the NASD, can look up any broker who has passed their series 7 exam. If someone is not on this list, you better not do business with them or you are asking for trouble.

4. In addition to checking the NASD web site, you should also call the state securities department of the state in which you live. A broker must be have his/her license registered with every state in which he/she does business.