Brokers News 

Traders Discover Exciting Benefits With New Broker, FX88‎

“With years of experience in the financial and forex trading markets, the FX88 team knows what real traders want” reports financemagnates.com. Partners can enjoy a whole host of benefits with FX88 including: FX88 believes in providing choice for traders.New EU broker FX88 (www.fx88.com) is already wowing traders with its offerings. Source: financemagnates.com Share This:

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Brokers News 

Centroid Solutions Launches Broker Risk Management Products for MT5

“Through their collaboration, they have been able to swiftly manifest the innovation of their new MT5 risk management products” reports financemagnates.com. Centroid Solutions, a provider of risk management technology solutions for FX brokers, has launched new broker-oriented products centered on the Metatrader 5 trading platform. Centroid’s rollout of the new MT5-centered risk management products could potentially provide appealing solutions for many brokers.The first category is Centroid 24, which provides advanced risk management features for brokers.The tools can provide beneficial information that can help brokers to improve their analysis of P/L,…

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Brokers News 

Prime Brokerage FX Trading Desks See Higher Volumes as Volatility Continues

“The trading desks at major banks have been registering a sharp rise in volumes” reports financemagnates.com. Bonds trading desks are also registering a sharp increase in activity as volatility is spreading across multiple asset classes.Major banks’ FX trading desks are returning to the “good old times” as volatility is returning to the foreign exchange market since the beginning of the year, sources shared with Finance Magnates.Since roughly the beginning of February, the rise in volatility has spilled over into all asset classes with stock trading desks also registering record demand.…

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Brokers News 

E*TRADE’s January Daily Average Revenue Trades Jump 57% Year Over Year

“E*TRADE saw a double-digit increase in daily average revenue trades in January as the stock market hit record highs” writes Donna Fuscaldo for investopedia.com. In a press release, the New York-based online brokerage reported that daily average revenue trades, or DARTs, were 315,572 in January, up 29% from December and up 57% year over year.According to E*TRADE, which is paying $170 million for the portfolio of brokerage accounts, the accounts have $18 billion in assets.E*TRADE Financial Corporation (ETFC) was also able to add 64,581 gross new brokerage accounts during January…

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Brokers Crypto News 

Thailand’s Central Bank Bans Banks from Dealing with Cryptocurrencies

“Moreover, the Finance Minister also indicated that the Bank of Thailand is not the appropriate institution to regulate cryptocurrencies, as it does not recognize cryptocurrencies as legal tender” reports financemagnates.com. Tantivorawong, the securities watchdog Thai Securities and Exchange Commission (TSEC) is the appropriate authority to oversee cryptocurrencies in Thailand.The central bank clearly instructs other national banks not to engage in any transaction if it involves: investment or trading in cryptocurrencies for both financial institutions and retail clients, offering cryptocurrency exchanges, or to provide a cryptocurrency trading platform.It further ordered the…

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Brokers News 

Automatic stay of legal proceedings against Global Brokerage ends

“In particular, the Counsel for Global Brokerage has already informed the Judges assigned to two of the cases against the broker about the termination of the automatic stay” reports financefeeds.com. The entry of the plan into effect triggers a raft of consequences, including the lifting of the automatic stay of legal proceedings against the Debtor.During the Class Period, Plaintiff and the Class purchased FXCM securities at allegedly artificially inflated prices. Source: financefeeds.com Share This:

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Brokers Crypto Markets News 

Brokerage app Robinhood thinks bitcoin belongs in your retirement plan

“Even so, the app routinely promotes a strategy that seems somewhat reckless in light of the recent stock market pullback” writes Max Chafkin Julie for bloomberg.com. The same day, according to data from market researcher App Annie, Robinhood, which had been ahead of Coinbase at times earlier in the year, was ranked 194th. Source: bloomberg.com Share This:

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Brokers News 

Exclusive: Chinese IBs Blackmail Forex Brokers and Mislead Investors

“In one of the hottest markets globally, China, the process of onboarding clients has been largely outsourced to introducing brokers (IBs)” reports financemagnates.com. This is the point where it is worth mentioning that no court cases that have been filed at European courts by Chinese IBs have been awarded a verdict against forex brokers.The Chinese market retains its potential for becoming one of the biggest locations for the forex industry.One source with knowledge of the Chinese industry explained that most of the time it is IBs that are cheating and…

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Brokers News 

Trading Cryptos on Credit Without a Prime Brokerage

“Brokers can trade on credit without prime brokers, however, and access cryptos without having to put margin up” reports financemagnates.com. When a prime broker is involved, brokers can trade with liquidity providers on credit.As brokerages ease into a partnership with liquidity providers, they can settle their trades daily to start. Source: financemagnates.com Share This:

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Brokers News 

UK Central Bank Signs FX Global Code, Prime Brokers Next in Line

“Six other central banks in the European System of Central Banks (ESCB), have simultaneously issued Statements of Commitment to the FX Global Code” reports financemagnates.com. The signature of the UK’s central bank is very important to the industry as prime brokers are next in line.All the ESCB central banks are strongly committed to supporting and promoting adherence to the FX Global Code.The UK central bank’s signature below the document is starting a “trickle down” process that will involve, prime brokers, prime of primes, liquidity providers and brokers to commit to…

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