Is Tradier SIPC/FINRA Insured?
A new securities firm with a unique trading system is Tradier Brokerage. Because the company is a recent entrant into the
investment world, some traders may have questions or concerns about the firm. It is not a scam, and accounts with the broker
are fully insured. Tradier has all the safeguards that other brokers have.
Is Tradier Legitimate?
Tradier is registered with the Securities and Exchange Commission in the US. This membership entitles Tradier to do business in all 50
states and the District of Columbia. The broker's CRD number is 104982, and its SEC number is 52972. These ID's can be used to
research the broker's history online and verify its credibility.
The company's profile page at FINRA's BrokerCheck shows zero disclosures, a good sign. Tradier's executives are also listed at FINRA,
along with their individual CRD numbers. Conducting research on the individuals running the firm is always a good idea, too.
Is Tradier Safe?
While Tradier accounts are just as safe as brokerage accounts at other firms, it should be noted that all securities accounts carry
some amount of risk. There is no FDIC in the brokerage industry that protects against market decline. Investing carries the possibility
that 100% of capital could be lost. No broker is ever perfectly safe in this sense. A broker isn't a bank.
Also keep in mind that Tradier is a new firm with an untested style of trading. The broker does not provide its clients with a platform.
Instead, investors choose a software package from a selection of third-party providers. This setup hasn't been proven yet, so it is
uncertain at this time whether Tradier's system will succeed.
If it doesn't, and the company goes out of business, then all account balances are protected by SIPC, as mentioned earlier. But the insurer only protects the number of shares of securities, not share price. There is no protection against a market decline. This applies not just to Tradier accounts, but to all other brokerage accounts as well.
You can never really say that any brokerage firm is 100% safe. Securities by their very nature are more risky than bank deposits. The US government did not want the FDIC involved with the brokerage industry, because it knew that it wasn't possible to protect share price. So it created SIPC instead. Tradier Brokerage is as safe as any other securities firm.
Tradier BBB Rating
As of now there is no Better Business Bureau (BBB) rating for Tradier Brokerage.
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Tradier Safety
reviewed by TopRatedFirms.com
Rating: 4