Customer Relationship Summary



Effective May 19, 2021 

Openfinance Securities, LLC (“we,” “us,” “firm,” or “Openfinance”) is registered as a broker-dealer and member of FINRA/SIPC. We operate as an “Alternative Trading System” (“ATS”). This disclosure includes information about our services, fees and costs, and conflicts of interest that we are required to provide to you when we recommend that you open and fund a brokerage account. Brokerage and investment advisory services and fees differ, and it is important for you to understand these differences. Free and simple tools are available to research firms and financial professionals at, which also provides educational materials about broker-dealers, investment advisers, and investing. 


What Investment Services Can We Provide You?  

Our Service Offerings 

Brokerage Services 

Our ATS offers secondary market trading in certain over-the-counter (“OTC”) securities. All transactions on the ATS are executed on an agency basis. The firm does not act as principal in any trade. We do not recommend specific asset classes or securities nor do we limit securities available to trade on the ATS to those with third-party compensation arrangements. 

The ATS provides for the buying and selling of secondary market OTC securities. We do not provide investment recommendations. We do not have a fiduciary obligation to you, but we must act in your best interest without placing our financial or other interests ahead of yours. 

The OTC securities available to trade on the Openfinance ATS are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, or guaranteed by, a bank or any bank affiliate, and are subject to investment risks, including possible loss of the principal amount invested. 

Limits on Monitoring and Investment Discretion 

We do not exercise discretionary investment authority in your account (i.e., make decisions to buy or sell your investments without your direction) or monitor your brokerage account investments for you. This means that you are responsible for reviewing your account and investments to make sure your investments are appropriate for you. 

No Account Minimums 

You do not need to have a minimum amount to invest to become a User on the Openfinance ATS.

Conversation Starter. Ask a finance professional: 

● Given my financial situation, should I choose a brokerage service? Why or why not?

● What services do you and your firm offer? 

● What is your relevant experience, years in the investment business, licenses, education and other qualifications?

What Fees Will You Pay?  

Brokerage Services 

For our brokerage services, you will pay the “transaction-based” fees as disclosed in the Digital User Brokerage Rate and Fee Schedule and Terms of Service on the Openfinance ATS. These fees are typically called commissions and can be found on our website. These fees will vary depending on the principal amount of the transaction. 

Description of Other Fees and Costs 

There are other third-party fees charged by Openfinance Securities, LLC’s partners but we do not receive any portion of these fees. For example, our banking partners may charge fees for certain transactions, such as wire withdrawals. You will pay fees to Openfinance and/or third parties whether or not you make money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying. 

Conversation Starter. Ask a finance professional: 

● How are you and your firm compensated? Are there any conflicts? 

● Do the firm or its financial professionals have reportable disciplinary history?

What Potential Conflicts Exist?  

Because Openfinance ATS generates revenue on executed transactions, we earn more money when your trading activity increases. Increased trading activity leads to increased revenue. However, Openfinance Securities, LLC is a self-directed brokerage, meaning we (nor any of our affiliates) do not provide investment advice or make investment recommendations to any persons, ever, and no communication through its website or in any other medium should be construed as such. 

Disciplinary History  

Do Openfinance ATS professionals have legal or disciplinary history? 

No. See 

Conversation Starter. Ask a finance professional: 

● Who is the firm’s primary contact person should I have any concerns?

Additional Information  

For additional information about our brokerage products and services or to obtain an updated copy of this Client Relationship Summary, please visit our website, call us at 844-925-4888 ext.703 or by write to us at Openfinance Securities, LLC, Attn: Compliance, 1177 Ave of the Americas, 7th Fl, New York, NY 10036. 



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