The final frontier is rapidly approaching: direct trading of overseas-listed stocks through discount brokers such as E-Trade and Schwab.

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Consumer Direct, Trading Standards, the Office of Fair Trading and manufacturers also helped identify the fraudulent web sites.

BBC: Fake websites shut down by police

In 1999 I moved to Florida to start another hedge fund and opened a brokerage firm catering to big traders and institutions looking for direct access trading of their high frequency algorithms, which is what my funds specialized in.

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