The quickest way to tell if your stock broker is a scam artist, using your account for broker profits rather than yours, is to look for evidence of “churning.”
Say you have just opened a stock brokerage account and your broker puts you into Fast Buck Industries as your very first “investment.” You get your first statement and see that she has traded Fast Buck three times. You also note several stocks listed that you had not discussed.
It’s only unethical or illegal if you get caught, is often the rationale.
