For sure – most firms need to do more in my book.
I just don’t know if the high level risk disclosures go far enough, especially when they are scribbled away somewhere on the website or you rattle through it during account opening amongst the sea of other information you have to read and provide.
Here’s an idea: Should new traders have to take mandatory courses provided by brokers to demonstrate they’re committed to learning about how markets function and that they truly understand the risks involved before they can trade with a large amount of capital? That might motivate brokers to provide more on the education front.
I’m sure there will be loads of reasons why it would be difficult to implement but it’s a thought…
