Initially used in reference to fraudulent brokerages set up with the purpose of offloading unwanted securities of the firm’s owners, the term is now synonymous with companies that employ high-pressure selling tactics while also misrepresenting the products that they offer.
Did you know?
Papyri PCZ I 59021, which dates back to 259/8 B.C., shows the exchange of coinage in ancient Egypt.
Word of the day
"Risk Capital" - The capital that a trader can invest without being significantly affected in the event of loss.
Always check transaction costs before opening an account (and keep in mind that cheap rates are no guarantee of reliability).