On 3/26. I got a trade notice from my ira. (from firsttrade.)Some sob log into my accounts, and buy iwrs.pk at 0.48-0.5 for over 50K shares and change my password. Now the pinkshit is 0.13....
I called the firsttrade on 3/27 and they acknowledged it is not my trades and the market maker can not bust these trades.
I file a case in SEC, FBI and NASD since this happens before after some research (Link)
I am trying to file a case to police department and do not know where and how can I file.
I wonder if there is any rules I can bust the trades or get insured like S_P_I_C.
What is the best way to resolve this? (most likely I will burden the loss)
Can I sue the broker since they did not provide any notification on change of password and they even can not find the IP address after 7 days.
I find another case on Internet, the Broker reverse the transaction on the second day.
Just be aware of this broker. Not good security and execution is bad. They are not doing much after this incidence.
Any other suggestion on the further protection and possibility of recovering the loss? I think the brokers break the fiduciary duty on my account.
also how much cost will it looks like, I lose 15K before tax on this case.
Thanks