Illegal. According to the Labor Contract Law of People's Republic of China (PRC) and other relevant laws and regulations, the employer shall conclude a written labor contract with the employee according to law, and use the employee according to the contract, and shall not terminate the labor contract at will. If a securities company violates the provisions of relevant laws and regulations, fails to sign a written labor contract with the broker or use the broker as agreed in the contract, resulting in damage to the broker's rights and interests, then this behavior is also illegal.