Brokers News 

Global Brokerage steps up efforts to have “mega lawsuit” dismissed

“Global Brokerage Inc (NASDAQ:GLBR) has stepped its efforts to have a consolidated securities class action brought against it by former investors dismissed” reports financefeeds.com. The “mega lawsuit” names Global Brokerage, formerly known as FXCM Inc, and 17 individuals, including directors and senior employees at the brokerage accounting department, as defendants.Underlining their efforts to vigorously defend themselves in this action, the defendants are now requesting an oral argument on the motion to strike and dismiss the consolidated securities class action complaint.According to the defendants, the Services Agreement was a pay-for-flow agreement based…

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Brokers News 

How to find a trusted mortgage broker

“We usually recommend that you talk to a mortgage lender, mortgage broker, local bank and local credit union when searching for a lender” reports washingtonpost.com. Q: We’ve been working with a great real estate agent who was recommended to us by a trusted friend.If you trust the agent and trust the mortgage broker, you might be all set.We’ve found that most real estate agents want to work with good mortgage brokers and lenders to get their deals done.In the grand scheme of things, you have a mortgage broker you like, the…

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Brokers Markets News 

Wind-down of options market making operations weighs on Interactive Brokers’ trading gains in Q3’2017

“The drop was attributed to lower market making trading volumes as Interactive Brokers finalized the wind-down of its US options market making business” reports financefeeds.com. The US options market-making business of Interactive Brokers used to be conducted by its Timber Hill affiliate.The deal was first announced in May this year, a couple of months after Interactive Brokers made public its plans to halt its options market-making operations.As FinanceFeeds reported earlier this month, Two Sigma Securities, LLC (TSS), the market-marking affiliate of Two Sigma Investments, LP, has completed the acquisition of…

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Brokers News Platforms 

The death of social trading: Conflict of interest results in exit rally; due diligence finds 80% of lead traders to be fake

“Since then, pretty much every single social trading platform has shuffled off the cyber coil” reports financefeeds.com. To no surprise whatsoever, social trading is largely a thing of the past.This is because said companies made their investment into developing solutions that would engage and retail retail traders which are largely based in their own domestic markets.Indeed, many stand-alone, third party social trading platforms are now history, but some companies that offer their own have been deleting the product from their range of services.Examples of the haplessness that began the fate…

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Brokers Markets News 

Redfin extends 1 percent seller commissions to more markets

“Redfin says that it gained a higher share of customers in those test markets compared to other markets where Redfin has brokerage offices” reports washingtonpost.com. Redfin charges a 1.5 percent sellers commission to buyers in other markets.The brokerage firm will reduce the amount of the refund it offers buyers to fund the reduced listing fee. Source: washingtonpost.com Share This:

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Brokers News 

Sources: Chinese government blocks major MetaTrader 4 port

“This is a port which is used to connect MetaTrader 4 to trading servers, hence several brokers are now unable to connect from within mainland China” reports financefeeds.com. Conversely, brokerages using connectivity partners or white label providers with no Chinese presence at all risk being completely disconnected from their trading server. Source: financefeeds.com Share This:

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Brokers Crypto News Platforms 

UK-Based OTC Broker Tickmill Enables Bitcoin Support

“Tickmill, a UK-based OTC exchange, has now ventured into the Bitcoin world” writes Jp Buntinx for livebitcoinnews.com. This is yet another mainstream trading platform focusing on cryptocurrencies during this critical moment in time.With Tickmill now adding Bitcoin functionality to their platform, things will get pretty interesting. Source: livebitcoinnews.com Share This:

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Brokers News 

A new puzzle for retailers: Dealing with in-store returns on online orders

“After Nordstrom acquired the company in 2011, it began allowing customers to return HauteLook items to Nordstrom Rack stores” reports washingtonpost.com. The arrangement turned out to drive traffic to the company’s locations — by 2014, returns of online purchases accounted for more than 1 million annual trips to Nordstrom Rack stores.For clothing and shoes bought online, the return rate can be as high as 40 percent. Source: washingtonpost.com Share This:

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Brokers News 

Tony Robbins: 7 questions you must ask to keep a financial adviser honest

“By making sure to ask these seven questions of a financial adviser, or any adviser, you are considering: If the answer is no, this adviser is a broker” writes Tony Robbins for marketwatch.com. What financial planning services do you offer beyond investment strategy and portfolio management?. A fiduciary adviser should always use a third-party custodian to hold your funds.Yet financial advisers get a free pass.That’s because Its not enough that your financial adviser is an independent RIA. You need to be careful that the RIA is not also a broker. Source:…

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Brokers News 

Insider Q&A: Health insurance broker sees challenges brewing

“Health insurance broker Liz Gallops can quickly list the obstacles that lie ahead in the upcoming enrollment window” reports foxbusiness.com. The Trump administration has slashed funding for consumer helpers called “navigators” who are trained to assist shoppers with marketplace coverage options.It begins Nov. 1 and concludes Dec. 15 during a busy year-end period when many people have holidays or tasks other than selecting health coverage on their minds.Gallops, an independent broker who helps people buy coverage both on and off the ACA marketplaces, spoke recently with The Associated Press. For…

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