Highest Risk Firms
Active broker-dealer firms carrying a size-normalized Grade D or F, the heaviest disclosure intensity for their size class, ranked by total reported FINRA disclosures. Review the underlying records on FINRA BrokerCheck before drawing conclusions.
| # | Firm | Disclosures | Offices | Grade |
|---|---|---|---|---|
| 1 | Morgan Stanley & Co. LLC New York, NY | 552 | 44 | F |
| 2 | Goldman Sachs & Co. LLC New York, NY | 433 | 37 | D |
| 3 | UBS Securities LLC New York, NY | 317 | 39 | D |
| 4 | Deutsche Bank Securities Inc. New York, NY | 307 | 9 | F |
| 5 | Wedbush Securities Inc. Pasadena, CA | 212 | 152 | D |
| 6 | Piper Sandler & Co. Minneapolis, MN | 192 | 80 | D |
| 7 | Barclays Capital Inc. New York, NY | 164 | 19 | D |
| 8 | Cibc World Markets Corp. New York, NY | 162 | 6 | F |
| 9 | Wells Fargo Securities, LLC Charlotte, NC | 162 | 84 | D |
| 10 | Jefferies LLC New York, NY | 137 | 42 | D |
| 11 | Interactive Brokers LLC Greenwich, CT | 118 | 17 | F |
| 12 | SG Americas Securities, LLC New York, NY | 115 | 5 | F |
| 13 | Pershing LLC Jersey City, NJ | 106 | 18 | D |
| 14 | BNP Paribas Securities Corp. New York, NY | 101 | 9 | D |
| 15 | Cantor Fitzgerald & Co. New York, NY | 97 | 37 | D |
| 16 | ABN Amro Clearing USA LLC Chicago, IL | 83 | 3 | F |
| 17 | Instinet, LLC New York, NY | 81 | 11 | F |
| 18 | Citadel Securities LLC Miami, FL | 76 | 7 | D |
| 19 | Stonex Financial Inc. Winter Park, FL | 76 | 28 | D |
| 20 | Virtu Americas LLC New York, NY | 75 | 8 | F |
| 21 | Dash Financial Technologies LLC Chicago, IL | 69 | 3 | F |
| 22 | Robinhood Financial, LLC Lake Mary, FL | 65 | 29 | D |
| 23 | Wolverine Trading, LLC Chicago, IL | 63 | 3 | F |
| 24 | Susquehanna Securities, LLC Bala Cynwyd, PA | 60 | 3 | F |
| 25 | Wilson-Davis & Co., Inc. Salt Lake City, UT | 58 | 2 | F |
| 26 | Apex Clearing Corporation Dallas, TX | 57 | 6 | F |
| 27 | Keybanc Capital Markets Inc. Cleveland, OH | 55 | 43 | D |
| 28 | Ladenburg Thalmann & Co. Inc. New York, NY | 50 | 7 | D |
| 29 | BMO Capital Markets Corp. New York, NY | 47 | 25 | D |
| 30 | Lightspeed Financial Services Group LLC Morristown, NJ | 47 | 3 | F |
| 31 | Natwest Markets Securities Inc. Stamford, CT | 47 | 7 | D |
| 32 | Wolverine Execution Services, LLC Chicago, IL | 43 | 2 | F |
| 33 | Pruco Securities, LLC. Newark, NJ | 43 | 28 | D |
| 34 | Marex Capital Markets Inc. New York, NY | 42 | 11 | D |
| 35 | Susquehanna Investment Group Bala Cynwyd, PA | 42 | 3 | D |
| 36 | Ibkr Securities Services LLC Greenwich, CT | 42 | 2 | F |
| 37 | IMC Financial Markets Chicago, IL | 40 | 2 | F |
| 38 | GTS Securities LLC Miami, FL | 38 | 7 | D |
| 39 | Osaic Services, Inc. Scottsdale, AZ | 37 | 1 | F |
| 40 | Maxim Group LLC New York, NY | 37 | 7 | F |
| 41 | BGC Financial, L.P. New York, NY | 36 | 13 | D |
| 42 | Sanford C. Bernstein & Co., LLC Nashville, TN | 35 | 27 | D |
| 43 | G1 Execution Services, LLC Chicago, IL | 35 | 3 | D |
| 44 | Group ONE Trading LLC Chicago, IL | 33 | 3 | D |
| 45 | X-Change Financial Access, LLC Chicago, IL | 33 | 2 | F |
| 46 | TP Icap Global Markets Americas LLC New York, NY | 33 | 7 | D |
| 47 | Global Execution Brokers, LP Bala Cynwyd, PA | 32 | 1 | F |
| 48 | Tradition Securities and Derivatives LLC New York, NY | 32 | 7 | D |
| 49 | Oscar Gruss & SON Incorporated New York, NY | 31 | 3 | D |
| 50 | Daiwa Capital Markets America Inc. New York, NY | 30 | 29 | D |
| 51 | Belvedere Trading LLC Chicago, IL | 29 | 9 | D |
| 52 | PTR, Inc. Collingswood, NJ | 28 | 1 | F |
| 53 | Roth Capital Partners, LLC Newport Beach, CA | 28 | 18 | D |
| 54 | Needham & Company, LLC New York, NY | 27 | 11 | D |
| 55 | BNY Mellon Capital Markets, LLC New York, NY | 26 | 9 | D |
| 56 | FIS Brokerage & Securities Services LLC Bolingbrook, IL | 23 | 3 | D |
| 57 | Buckman, Buckman & Reid, Inc. Little Silver, NJ | 22 | 3 | D |
| 58 | TD Securities (USA) LLC New York, NY | 22 | 19 | D |
| 59 | Sumo Capital, LLC Chicago, IL | 22 | 2 | D |
| 60 | Speedtrader, Inc Katonah, NY | 22 | 2 | D |
| 61 | Consolidated Trading LLC Chicago, IL | 22 | 1 | F |
| 62 | Casey Securities LLC Greenbrae, CA | 20 | 2 | D |
| 63 | CTC, LLC Chicago, IL | 18 | 3 | F |
| 64 | Credit Agricole Securities (USA) Inc. New York, NY | 18 | 6 | D |
| 65 | Canaccord Genuity Wealth Management (USA) Inc. Vancouver | 18 | 2 | D |
| 66 | First Georgetown Securities, Inc. Alexandria, VA | 18 | 3 | D |
| 67 | Barrett & Company Providence, RI | 17 | 3 | D |
| 68 | Smith, Brown & Groover, Inc. Macon, GA | 17 | 3 | D |
| 69 | State Street Global Advisors Funds Distributors, LLC Boston, MA | 17 | 6 | D |
| 70 | Pershing Advisor Solutions LLC Jersey City, NJ | 17 | 7 | D |
| 71 | H.C.WAINWRIGHT & Co., LLC New York, NY | 16 | 2 | D |
| 72 | D & D Securities, Inc. Philadelphia, PA | 16 | 1 | F |
| 73 | Lazard Freres & Co. LLC New York, NY | 16 | 10 | D |
| 74 | Mizuho Securities USA LLC New York, NY | 16 | 13 | D |
| 75 | Sagetrader, LLC Englewood, NJ | 16 | 2 | D |
| 76 | Dawson James Securities, Inc. Boca Raton, FL | 16 | 2 | D |
| 77 | SAL Equity Trading, GP Bala Cynwyd, PA | 16 | 2 | D |
| 78 | Jump Trading, LLC Chicago, IL | 15 | 6 | D |
| 79 | Coda Markets, Inc. Wilmette, IL | 15 | 2 | D |
| 80 | Allen & Company LLC New York, NY | 14 | 2 | D |
| 81 | TD Arranged Services LLC New York, NY | 13 | 1 | D |
| 82 | Lakeshore Securities, L.P. Chicago, IL | 13 | 2 | D |
| 83 | Securian Financial Services, Inc. St. Paul, MN | 13 | 2 | F |
| 84 | First Commonwealth Securities Corporation Atlanta, GA | 12 | 1 | D |
| 85 | Intesa Sanpaolo IMI Securities Corp. New York, NY | 12 | 2 | D |
| 86 | Optiver US LLC Chicago, IL | 11 | 4 | D |
| 87 | Liquidnet, Inc. New York, NY | 11 | 2 | D |
| 88 | Cuna Brokerage Services, Inc. Waverly, IA | 11 | 8 | D |
| 89 | Colonial Securities, Inc. New York, NY | 11 | 2 | D |
| 90 | HRT Financial LP New York, NY | 10 | 4 | D |
| 91 | UBS Asset Management (US) Inc. New York, NY | 10 | 8 | D |
| 92 | Bbva Securities Inc. New York, NY | 10 | 3 | D |
| 93 | J. Streicher & Co. L.L.C. New York, NY | 9 | 1 | D |
| 94 | OLD Mission Capital, LLC Chicago, IL | 8 | 3 | D |
| 95 | Dealerweb LLC Jersey City, NJ | 7 | 4 | D |
| 96 | Fortrend Securities, Inc. Melbourne, Vic | 7 | 0 | D |
| 97 | Tradebot Systems, Inc. Kansas City, MO | 7 | 1 | D |
| 98 | Akuna Securities LLC Chicago, IL | 7 | 1 | D |
| 99 | Chimera Securities, LLC New York, NY | 7 | 2 | D |
| 100 | XR Securities LLC Chicago, IL | 6 | 1 | D |