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TD Cowen Review
TD Cowen is the investment banking and institutional brokerage arm of TD Bank Group. It serves institutions, not retail forex or CFD traders.
Min Deposit
N/A
Spreads From
Not published
Max Leverage
Not applicable
Platforms
N/A
Pros
- A research and trading firm with roots that go back to 1918
- Backed by the scale and balance sheet of TD Bank Group
- Registered with the SEC and FINRA under CRD number 7616
- Known for a broad equity research franchise across many US sectors
Cons
- Not a retail forex or CFD broker, institutions only
- No public minimum deposit, spread, or leverage figures exist
- Sold its prime brokerage and outsourced trading unit to Marex in 2023
- A similarly named firm, Cowen Capital Group, was flagged by the FCA
Cowen started in 1918 as a bond trading house in New York. It grew into a full service investment bank, known for equity research and underwriting in sectors like healthcare and technology. In March 2023, TD Bank Group completed a 1.3 billion dollar purchase of Cowen Inc, and the business was renamed TD Cowen.
Today TD Cowen works only with institutions, corporations, and governments. It offers equity and credit research, sales and trading, and investment banking advice. It does not open retail accounts, so there is no public deposit, spread, or leverage figure. In December 2023, it sold its prime brokerage and outsourced trading unit to Marex Group, narrowing focus to research and banking.
The firm operates in the United States as Cowen and Company, LLC, registered with the SEC and FINRA under CRD number 7616. It sits inside TD Bank Group with TD Securities. Note that Cowen Capital Group is a separate firm the FCA in the UK says is not authorised, so do not confuse the two names.
Max Leverage
Not applicable
Spreads From
Not published
Regulators
- SEC (USA)
- FINRA
- FCA (UK)
