Brokers News 

One year after binary options ban implementation, fraudsters keep targeting Belgians

“Apparently, however, this fraudulent approach continues to be widely adopted amid binary options firms” reports financefeeds.com. Binary options brokers like Stockpair, for instance, have continued to promote their offering via football partnerships on their French-language website.The latest additions to the Belgian black list of binary options firms that illegally target Belgian residents features nine websites.Some binary options brokers have chosen to switch to other fraud areas, like diamonds and rare earths scams.A year has passed since Belgium implemented drastic measures with regard to certain online trading instruments, including a ban…

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Massachusetts investigating whether top U.S. brokers have a kickback conflict

“Massachusetts is investigating whether top retail brokerage firms send customer buy and sell orders to exchanges that offer the brokers kickbacks and whether that practice prevents ordinary investors from getting the best price for their trades” writes Liz Moyer for cnbc.com. As electronic trading proliferated in the last decade and the number of exchanges and trading sites blossomed, rebating became a strategy by exchanges to draw trading volume. Source: cnbc.com Share This:

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Appalled by ‘crazy’ broker fees, 2 ex-Googlers founded a site they say has saved renters over $1 million

“Eventually, Joinery will take 20% of that fee, Ramsey says, but the company is forgoing it for now in order to scale” writes Tanza Loudenback for businessinsider.com.au. Each listing displays the fees the incoming renter will pay, and calculates how much they’re saving by choosing Joinery over a traditional broker.Many apartment hunters turn to real estate brokers, who charge a fee of 10% to 20% of annual rent for their services. Source: businessinsider.com.au Share This:

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Some start-up founders are ‘nervous’ about dealing with Benchmark after it sued Uber

“Maybe founder-friendly provisions that made Uber founder Travis Kalanick king” writes Theodore Schleifer for cnbc.com. The lawsuit, which asks a judge to remove Uber founder Travis Kalanick from the company’s board, reflects an aggressive posture from a venture firm that thinks Kalanick is hurting the company’s bottom line.But even the fact that some entrepreneurs are thumbing their noses at Benchmark speaks to just how controversial the lawsuit is in the industry. Source: cnbc.com Share This:

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Brokers Markets News 

Interactive Brokers’ Covestor moves to new website amid business renaming

“The changes at Covestor happen amid wider restructuring at Interactive Brokers, affecting mainly the market making segment” reports financefeeds.com. In March this year, Interactive Brokers unveiled plans to wind down its options market making activities worldwide, with the phaseout to continue in the coming months.In May this year, Two Sigma Securities, LLC (TSS), the market-making affiliate of Two Sigma Investments, LP announced that it had reached an agreement to acquire the US options-market-making business of Timber Hill, a subsidiary of Interactive Brokers. Source: financefeeds.com Share This:

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ArenaFX becomes latest Japanese broker to terminate MT4 offering

“Retail FX broker Arena-FX Co., Ltd, aka ArenaFX, has become the latest Japanese Forex company to stop offering the MetaTrader 4 (MT4) platform to its clients” reports financefeeds.com. That is why it is rarely surprising when Japanese FX brokers put an end to a service that is not originally Japanese. It will be interesting to see whether Japanese brokers will adopt MT5 in place of MT4. Source: financefeeds.com Share This:

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Global Brokerage calls securities litigation allegations “boilerplate mantra”

“However, each of the plaintiffs began purchasing their FXCM securities after FXCM publicly announced that it terminated its pay-for-flow agreement with Effex” reports financefeeds.com. FXCM notes that lead plaintiffs 683 Capital Partners, LP and Shipco Transport Inc., and named plaintiffs Sergey Regukh and Brian Armstrong purportedly purchased FXCM securities during the Class Period.FXCM says that plaintiffs’ key allegations have been “lifted directly from the CFTC Order and the NFA Complaint”.The document seeks to refute allegations by plaintiffs, including lead plaintiffs 683 Capital Partners, LP and Shipco Transport Inc., and named plaintiffs…

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Marvin Lewis absent from Bengals camp dealing with ‘minor health issue’

“Marvin Lewis was not present at the Bengals’ practice session Tuesday and the team later said he is dealing with an unspecified health concern” reports sportingnews.com. “Coach Marvin Lewis will be taking time away from the team to focus on a minor health issue,” a statement issued Tuesday afternoon read.NFL Media reported later Tuesday that Lewis is dealing with a blood clot in his ankle. Source: sportingnews.com Share This:

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