How KCG employees rob you of your retail trading account
KCG is not the only operator like this. Google search others stories to read the history of this first link to understand the history.
For those who have seen this posting
Why these ‘hedge fund pros’ dislike what i do 2017 edition
It seems one of these ‘people’ at KCG responded to this video. He is now trying to save himself and his firm (see below).
But first, understand how your traditional retail broker is selling you out
See how brokers sell their order flow to HFT operations
http://www.businessinsider.com/brokerages-make-millions-selling-orders-to-high-frequency-trading-firms-2014-4
Also understand why Virtu is buying his employer KCG
Virtu Seeks KCG’s Retail Order Flow
The HFT/Quant Fund/Hedge fund industry is shrinking because of competition and various other reasons. They are desperate to maintain their huge returns for their excessive fees in which ETFs are pretty well killing them off.
Link the 2 above of how you are probably being robbed by these crooked operators who are stealing your order flow since your broker is probably selling you out. Most likely you never knew this was happening.
Now read this ‘person’s’ way to justify his collection of paychecks from his crooked employer who is under investigation by US Federal regulators. I also will associate him just as guilty for working for this crooked operator. He is just as guilty as the founder/leaders of firms like this. May God bless his evil soul for selling you out by this linkage. He and among others who knowingly know what is going will need to justify their decisions when it comes to who they work for.
(yes he did send me another long drivel which I am no longer interested in responding)
…
First of all, you got some of my messages mixed up with that other guys’. And what he was saying about retail traders fueling the returns is not that we’re “taking advantage of them”. We have access to the same information as they do. It’s just that we have a more advanced knowledgebase, we can process the information more precisely, and in the case of KCG, we have spent a lot of time and money on developing the best infrastructure there is. There’s nothing illegal about processing information or developing fast infrastructure. We have been at the forefront of a number of technical advancements that have now been implemented in the airline industry, for example, making their systems more responsive. We’ve contributed a lot more to society than you have; you just want to make some money for yourself and that’s all you care about. KCG provides employment for over a 1,000 people, and as I’ve just said, it has also contributed to society. Furthermore, next time you go to buy a security, just think that it’s probably a company like KCG on the other side proving the liquidity. You’re welcome.
With regards to those lawsuits you posted, if you had actually read them you’d know that they weren’t brought against us for “purposefully stealing peoples’ money” or “taking advantage of retail traders”. The first was simply due to a bug in our software (which is over 47 million lines long). Facebook has glitches and bugs all of the time, it’s just that when they have one all that happens is a photo might appear a bit too small, but when we have a bug that lasts 45 minutes, we have transacted billions of dollars in that time. 45 minutes to find a bug in 47 million lines of dense, low-level code is pretty darn good if you ask me. The second lawsuit you posted is due to a very small branch of KCG not following protocol well enough (the protocols that we have to follow are very subtle, so there is a lot of room for accidental misinterpretation). It’s not that we were ripping people off; this is obvious from the fact that the penalty was only about $1M. That’s the equivalent of you paying a $100 fine for letting your party guest take a shit in the street instead of on your carpet. You have to realise that KCG is a big company, and big companies get sued. Apple gets sued all the time, but do you consider them crooks?
NOTE This correspondence just offers a rare twisted look from the evil minded insiders who try to justify on how they are robbing mom and pop retail traders with no conscious of it. IT IS CALLED MARKET MAKING. You must also understand that people like this live in ivory towers who are totally delusional on what is truly going on in the retail trading space. They will never be a ‘friend of mine or yours’ . This is why firms like KCG are being investigated by the Fed and offer 12M fines to ‘wipe away’ their guilt of admission.
This person claims they are needing to go back to his job so I no longer want to hear from this ‘troll person’. I no longer want to entertain him as well.
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