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Hilltop Securities Review
Hilltop Securities is a Dallas broker dealer built around municipal bonds and public finance. It formed from a 2015 merger and has FINRA, SEC, and MSRB oversight.
Min Deposit
N/A
Spreads From
Not applicable, Hilltop does not offer spread based forex or CFD trading
Max Leverage
Not applicable, no retail margin forex trading is offered
Platforms
Hilltop Securities advisor accounts, HilltopSecurities online client access
Pros
- FINRA member broker dealer with SEC and MSRB oversight in place
- One of the larger municipal bond and public finance houses in the US
- Wide service range covering bonds, equities, and structured products
- Self reported its own compliance gaps rather than hiding them from FINRA
Cons
- FINRA fined Hilltop 475,000 dollars over municipal filing failures
- 122 municipal offerings were missing required filings between 2011 and 2015
- Built around institutional and public finance work, not retail forex
Hilltop Securities came together in 2015 and 2016, when Hilltop Holdings merged First Southwest Company and Southwest Securities into one firm. The combined company kept its base in Dallas, Texas, and grew into one of the larger municipal bond and public finance houses in the country.
The firm is a FINRA member broker dealer, registered with the SEC, and follows Municipal Securities Rulemaking Board rules as a registered municipal advisor. It covers municipal bonds, equities, fixed income, and structured products for individual, institutional, and public sector clients, alongside insurance and advisory services.
FINRA fined Hilltop 475,000 dollars after it found that former Southwest Securities staff had failed to submit required municipal bond filings for 122 offerings between 2011 and 2015, along with gaps in reporting suspicious low priced securities trades. Hilltop found the problems itself while training staff after the merger and self reported them to FINRA.
Max Leverage
Not applicable, no retail margin forex trading is offered
Spreads From
Not applicable, Hilltop does not offer spread based forex or CFD trading
Platforms
Regulators
- FINRA
- SEC (USA)
- SIPC
- MSRB
