Question 1

What is a CRD number?

Accepted Answer

A CRD number is the unique ID that FINRA assigns to every registered broker and brokerage firm in the United States. It stays with them for their entire career — including every fine, suspension, and customer complaint filed along the way. You can find it on your account statements or by asking your broker directly.

Question 2

How do I check if my broker has complaints?

Accepted Answer

Search your broker or firm by name or CRD number in our free database. It contains thousands of FINRA disciplinary actions — fines, suspensions, and bars — summarized in plain English, with links to the official FINRA source documents.

Question 3

Where does this data come from?

Accepted Answer

Every record is drawn from FINRA’s publicly published disciplinary actions. Each case page links to the official FINRA PDF it came from, so you can always verify the summary against the source.

Question 4

My broker is not in the database. Does that mean they are clean?

Accepted Answer

Not necessarily. Our database covers published FINRA disciplinary actions; it is not a complete history of every complaint. For a full picture, check FINRA BrokerCheck as well — and remember that absence of a record is a good sign, not a guarantee.

Question 5

What counts as broker misconduct?

Accepted Answer

Churning (excessive trading to generate commissions), unsuitable investments, unauthorized trading, misrepresentation, overconcentration, and margin abuse are the most common forms. If your account lost money while the market gained, that gap is worth investigating.

Question 6

What is churning?

Accepted Answer

Churning is excessive trading in your account done mainly to generate commissions for the broker, not returns for you. Warning signs: frequent buying and selling with no clear strategy, high commission totals on your statements, and an account value that sinks while activity stays busy.

Question 7

My broker says the losses were just the market. How do I know?

Accepted Answer

Compare your account’s performance to a market benchmark over the same period. If the market gained while your account lost — or your losses are far deeper than the market’s — the market alone does not explain it. Tools like myAnalysis™ do exactly this math from your statements.

Question 8

What is a red flag on a broker’s record?

Accepted Answer

Prior fines, suspensions, or bars; frequent job changes between firms; customer complaints alleging unauthorized or unsuitable trading; and association with firms that have their own disciplinary history. One item may be explainable — a pattern is a warning.

Question 9

Can I recover money lost to a bad broker?

Accepted Answer

Often, yes. Investors harmed by broker misconduct can recover losses through FINRA arbitration — a faster, cheaper alternative to court. Most claims must be filed within six years of the events, so the sooner you act, the stronger your case.

Question 10

What is FINRA arbitration and how long does it take?

Accepted Answer

FINRA arbitration is the dispute-resolution process nearly all brokerage agreements require instead of court. A panel hears the evidence and issues a binding award. Most cases resolve in 12–16 months, and many settle before a hearing.

Question 11

What documents do I need to bring?

Accepted Answer

Account statements are the core evidence — monthly or quarterly, for the whole period in question. Trade confirmations, new-account paperwork, and any emails or letters with your broker help too. Missing some? Your attorney can compel the firm to produce them.

Question 12

What does it cost to talk to a securities attorney?

Accepted Answer

Nothing. The consultation is free and confidential, and cases are handled on contingency — you pay no fee unless you recover money. Call 1-888-741-7503 or use the contact form.

Frequently asked questions

What is a CRD number? +

How do I check if my broker has complaints? +

Where does this data come from? +

My broker is not in the database. Does that mean they are clean? +

What counts as broker misconduct? +

What is churning? +

My broker says the losses were just the market. How do I know? +

What is a red flag on a broker’s record? +

Can I recover money lost to a bad broker? +

What is FINRA arbitration and how long does it take? +

What documents do I need to bring? +

What does it cost to talk to a securities attorney? +