One of the mysteries of the English language finally explained.
An unauthorized office for speculating in stocks or currency using the funds of unwitting investors.
- ‘With stock market speculation on its way to becoming a home-based sport (which, as the bucket shops were said to do, principally attracts those who are ‘looking for entertainment and excitement’ - and a killing!)’
- ‘What worked at the bucket shops didn't play on Wall Street. Within six months of the start of his legitimate trading career Livermore was wiped out.’
- ‘The Iowa Electronic Market, which runs a kind of a legal bucket shop in political candidacies, has restructured its presidential futures market.’
- ‘In the real world, I think that kind of unauthorized trading would meet the legal definition of a bucket shop.’
- ‘The U.S. has laws restricting bucket shop practices by limiting the ability of brokerage houses to create and trade certain types of over-the-counter securities.’
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