# Bucket Shop
A *bucket shop* is a type of fraudulent unregulated business which offers a [broker-like](broker.md) service for speculating on purely fictional positions in an [asset](asset) or currency using the funds of unwitting investors. The defining features of this type of fraud is there is no actual transfer or delivery of the underlying [assets](assets.md) allegedly being dealt in.

Bucket shops were made in illegal in the United States in 1922. Bucket shops are often cited as a major contributing factor to the market crash of 1929 leading the Great Depression.

See also [crypto exchange](crypto-exchange.md).

## References
1. Lefevre, Edwin. 2004. Reminiscences of a Stock Operator. Vol. 175. John Wiley & Sons.
