Brokers News 

FXPRIMUS Celebrates 10-Year Anniversary with Exclusive Grand Gala and Car Giveaway

“Leading forex and CFD broker, FXPRIMUS, is delighted to announce its upcoming 10-year anniversary Gala in Malaysia” reports financemagnates.com. FXPRIMUS is a leading online broker providing trading services for forex, commodities, metals, energies, stocks and indices.The establishment of FXPRIMUS as a leading broker in the Asia-Pacific region allows us to celebrate yet another milestone in the continuing growth of the FXPRIMUS brand.” T&Cs apply.Vince De Castro, FXPRIMUS CMO, commented: “Our main aim was to give something back to our traders for their continued loyalty. Source: financemagnates.com Share This:

Read More
Brokers Markets News 

ASIC Cancels AGM Markets’ License Due to Unethical Conduct

“The Australian Securities and Investments Commission (ASIC) announced on Friday that it has canceled the Australian Financial Services (AFS) license of AGM Markets, a global online forex broker” writes Celeste Skinner for financemagnates.com. Earlier this year, ASIC warned consumers about AGM Markets, stating the broker was offering personal advice to retail investors that it was not authorized to do.To reduce the impact of the license cancellation on AGM’s clients, the broker’s license will continue until the end of this year – December 31, 2018. Source: financemagnates.com Share This:

Read More
Brokers News 

Virtu Financial to Acquire Independent Broker ITG For $1 Billion

“High-speed trading firm Virtu Financial, Inc., has struck a deal with Investment Technology Group (ITG) and will be acquiring the firm in a deal worth around $1 billion dollars, ITG said today” reports financemagnates.com. The combination of Virtu and ITG will create an industry-leading financial technology franchise with true global capabilities and scale.” Earlier today, ITG published its financial results for the third quarter ended September 30, 2018.In the same session, shares of ITG were trading flat, despite the company also reporting better than expected third-quarter profit. Source: financemagnates.com Share This:

Read More
Brokers News 

Citi fined by SEC over handling of U.S.-listed shares of international companies

“The SEC said it is the second action against a depositary bank and sixth action against a bank or broker resulting from the SEC’s ongoing investigation into abusive ADR pre-release practices” writes D C for marketwatch.com. The SEC found that Citibank improperly provided ADRs to brokers in thousands of pre-release transactions when neither the broker nor its customers had the foreign shares needed to support those new ADRs. Source: marketwatch.com Share This:

Read More
Brokers News 

Cenkos reinstates former boss and co-founder Jim Durkin to steer turnaround

“City broker Cenkos has reinstated its former chief executive and co-founder Jim Durkin just 18 months after he stepped down” writes Liam Halligan for telegraph.co.uk. Mr Durkin, who has more than 30 years of experience in the UK securities industry, will return to head up the company “once regulatory approval has been received”, replacing Anthony Hotson, the former Bank of England economist who joined the firm in August last year.The Aim-listed broker also announced that chairman Gerry Aherne has retired after six years in the role.Jeff Hewitt, acting chairman, said: “We welcome…

Read More
Brokers News 

Merrill Lynch slashes broker pay

“Merrill Lynch is cutting broker pay to trim costs — while at the same time providing an incentive to promote cross-selling of parent-bank products and spur growth” writes Lisa Beilfuss for marketwatch.com. Financial advisers at Merrill Lynch and other brokerages typically keep a portion of what they generate through asset-management fees, commissions and other factors.The changes would likely mean a 3% pay cut for the average Merrill adviser, who produces about $1 million in annual business.Instead, Merrill said it will pay brokers on 97% of their wealth-management production monthly.In 2018,…

Read More
Brokers Crypto News 

FCA Blacklists Crypto Clone Firm and Unauthorised FX Broker

“According to the warnings, Cryptobourse is a clone firm of an FCA-regulated Crypto Facilities Limited and Meta Investing is operating without a licence” reports financemagnates.com. According to the warning, Meta Investing has three London addresses, with its trading office based at Complex Ajeltake Island, Majuro, MH96960, Marshall Islands. Source: financemagnates.com Share This:

Read More
Brokers News 

Exclusive: New CFD Brokerage Emporium Capital Acquires CySEC License

“The latest company to join the brokerage industry on the island is Emporium Capital” reports financemagnates.com. Emporium Capital enters the space in one of the most challenging periods for the FX industry.The website of the new brokerage company is still not operating, but the firm’s office in the center of Nicosia is now open. Source: financemagnates.com Share This:

Read More
Brokers News 

Retail Brokerage Monex, Inc. Inks Agreement with Shizuoka Bank

“Monex, Inc. (Monex), a retail brokerage, announced this Friday that it has inked a financial instruments intermediary service agreement with The Shizuoka Bank, Ltd” reports financemagnates.com. Monex is one of the retail brokerages owned by Monex Group, a Tokyo-based financial services company.This means that customers will have access to the financial products the retail broker has to offer through their bank.This means that the broker will start to offer financial products and services to clients of the bank – which includes domestic equities – as of Friday. Source: financemagnates.com Share This:

Read More