8 lines
639 B
Markdown
8 lines
639 B
Markdown
# Bucket Shop
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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.
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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.
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See also [crypto exchange](crypto-exchange.md).
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## References |