Company Information

Get to know Penson Financial Services

Founded in 1995, Penson Financial Services, Inc., a subsidiary of Penson Worldwide, Inc., grew to become one of the world's largest non-bank clearing firms. The company provided back-office processing and brokerage services to other financial institutions, such as retail brokers, institutional firms, and private banks. Its core business involved handling the confirmation, settlement, and delivery of financial transactions. Following significant financial difficulties and regulatory capital issues, its main US subsidiary filed for Chapter 11 bankruptcy in January 2013, leading to the sale of its assets and the eventual closure of its operations.

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Penson Financial Services

United States

Founded in

1995 (31 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Markets.com

(326 reviews)

United States

2008

(18 years)

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.