Firstrade Clears Way for Anti-Money Laundering

In a move to wean itself away from dependence on its clearing firm's services, the online broker deploys an in-house AML solution.

Automated anti-money laundering (AML) solutions aren’t just for large brokerages and clearing firms anymore. Second and third-tier players, like New York-based online brokerage Firstrade Securities, have found less expensive and simple-to-deploy solutions that free them from prior outsourcing arrangements.

The difference between top-tier firms and lower-tier firms goes beyond just the amount that firms are willing to pay for AML solutions, with tier-one players spending $5 to $10 million on

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

Chartis RiskTech100® 2024

The latest iteration of the Chartis RiskTech100®, a comprehensive independent study of the world’s major players in risk and compliance technology, is acknowledged as the go-to for clear, accurate analysis of the risk technology marketplace. With its…

T+1: complacency before the storm?

This paper, created by WatersTechnology in association with Gresham Technologies, outlines what the move to T+1 (next-day settlement) of broker/dealer-executed trades in the US and Canadian markets means for buy-side and sell-side firms

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here