this post was submitted on 19 Sep 2024
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chapotraphouse
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https://en.wikipedia.org/wiki/Bucket_shop_(stock_market)
Not a perfect analog but still. Crypto exchanges have many similarities with these.
But, how is that any different from commodities futures trading?
the legal ones aren't supposed to bet against you. that said, many of the current forex and cfd brokers have been called bucket shops, they are usually registered in regions with lax regulations like Seychelles or St Vincent and Grenadines and won't allow westerners to register.