Light Horse Securities Inc. is registered with the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) as a broker-dealer. 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 Investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing.
What investment services can you provide me with?
Description of Services: Light Horse offers self-directed brokerage services to retail investors (hereinafter, "customers"). Our services involve effecting securities transactions exclusively online. We buy and sell securities only at your direction and we do not offer you recommendations of securities, strategies involving securities or securities accounts. As an introducing broker, Light Horse accepts unsolicited orders from and provides service to its customers. Your funds and securities are custodied by Apex Clearing Corporation which provides executing, clearing, and settling your trades; preparing and distributing your account statements and trade confirmations.
We offer NMS (national market system) listed equities, ETFs, and ADRs. We do not monitor your account or individual investments unless we state otherwise in writing. We do not make investment decisions on your behalf. We only execute the trades you request. We do not have account minimums. We offer access to articles, investment news and education to help you make investment decisions, but this information is for informational and educational purposes only. We do not limit our platform to products that pay us revenue sharing or other compensation. Please note that Light Horse Securities Inc. does not offer investment advice, manage investments, or offer ongoing monitoring of investments. For additional information about our products and services, please visit our website at www.lighthorse.io.
Conversation Starter — Given my financial situation, should I choose a brokerage service? Why or why not? What is your relevant experience, including your licenses, education, and other qualifications? What do these qualifications mean?
What fees will I pay?
Fees, Costs, Conflicts, and Standard of Conduct: Light Horse Securities Inc does not charge commission for executing self-directed securities, or crypto trades. However, you may be subject to other fees or costs, including:
- Margin Interest — Interest charged to your account when we lend you funds to trade on margin. For more information about margin and the costs and risks of trading on margin, please see our Fee Schedule.
- Short Selling Fees — For a short position, you need to borrow shares of a company before you sell them. The cost associated with a short sale is the fee for borrowing the respective stock.
- Regulatory & Exchange Fees — The SEC, self-regulatory organizations, and exchanges charge regulatory fees that may apply to you depending on your activity.
- Subscription Services — Light Horse Securities customers may elect to access market data or other services.
- Account Transfer Fees — Most accounts are subject to an industry standard transfer fee when processing a transfer to another firm.
You will pay fees and costs whether you make or lose 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. For additional information about fees and costs, please refer to the Light Horse Fee Schedule on the Light Horse website. Fees may change without notice, and any changes will be reflected in the Light Horse Fee Schedule.
Conversation Starter — Help me understand how these fees and costs might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?
If you open a brokerage account through Light Horse with $10,000 and want to invest in securities, you will pay no commission on your trades. If you choose to use additional services, such as wire transfers or ACATS, those services are charged at the then prevailing rate. If you incur returned ACH fees, those are charged to you.
What are your legal obligations to me when providing recommendations? How else does your firm make money and what conflicts of interest do you have?
Light Horse does not provide recommendations. We are not subject to a fiduciary duty to you and do not monitor or manage your account, including the monitoring of brokerage account investments, unless we state otherwise in writing. We are paid when you complete a transaction, which means we have an incentive to encourage you to make larger investments and trade more frequently. Additionally, we receive Payment for Order Flow (PFOF) from part or all of your transactions. We address these potential conflicts of interest by ensuring that all accounts are self-directed by our customers. We do not recommend any investments, nor do we recommend any investment strategies. We may make money through partnership agreements such as customer referral programs and other types of co-marketing arrangements. Light Horse encourages you to read and familiarize yourself with all disclosures that are relevant to your investment relationship with us in our website Disclosure Library.
Conversation Starter — How might your conflicts of interest affect me, and how will you address them?
How do your Financial Professionals make money?
Light Horse financial professionals are paid salaries and discretionary bonuses based on their overall job responsibilities and performance. Our financial professionals do not earn any compensation based on the trading or investments of our customers.
Do you or your financial professionals have legal or disciplinary history?
Disciplinary History: None of the financial professionals at Light Horse Securities Inc have any legal or disciplinary history. You can visit Investor.gov/CRS for a free and simple search tool to research us and our financial professional. Additional information can be found at FINRA's BrokerCheck.
Conversation Starter — As a financial professional, do you have any disciplinary history? For what type of conduct?
Additional Information
If you have any questions or would like additional information or a copy of this Form CRS, please contact us at support@lighthorse.io. You can also visit our website at www.lighthorse.io.
Conversation Starter — Who is my primary contact person? Is he or she a representative of an investment adviser or a broker-dealer? Whom can I talk to if I have concerns about how this person is treating me?