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…

Read More
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:

Read More
Brokers News 

FXCM keeps pushing to distance itself from Global Brokerage

“The decision to terminate the agreement was made by the Lead Member Holders of Group, which means: FXCM Holdings, LLC, or Global Brokerage Holdings, and Leucadia” reports financefeeds.com. The termination of the agreement by the Lead Member Holders happens just a couple of days after a Memorandum Opinion issued by Vice Chancellor Glasscock of the Delaware Chancery Court said an entire fairness review of the Leucadia deal with FXCM is appropriate. Source: financefeeds.com Share This:

Read More
Brokers Crypto News 

How to Best Add Cryptocurrency Trading to Your Forex Brokerage

“The first panelist to share his insight with us is Matthew Miller, COO of Shift Forex, who advises business on the best way to expand to cryptocurrency trading” reports financemagnates.com. Sign up now to the London Summit 2017 to attend the blockchain in FX panel The panel will be composed of five leaders from the cryptocurrency, financial trading and blockchain technology space:. Listen to the interview on SoundCloud or watch it on YouTube: We discussed how to find liquidity providers, what are the trading platforms most suited for cryptocurrency and…

Read More
Brokers Crypto News 

A high-school dropout is making hundreds of thousands of dollars trading cryptocurrency derivatives

“A 29-year-old high school drop out from the United Kingdom is hauling in hundreds of thousands of dollars trading risky cryptocurrency derivatives” writes Alex Morrell for businessinsider.com. Jay Smith believes a cryptocurrency crash is inevitable, but right now he’s the No. 1 trader of digital coins on online brokerage eToro, amassing thousands of followers who are copying his trades, according to Bloomberg’s Edward Robinson.Smith, who lives in a London suburb, makes speculative bets on the prices of cryptocurrencies like bitcoin and Ethereum and the rash of others that have bubbled up…

Read More
Brokers News 

SEC announces fifth distribution of funds to former clients of ConvergEx brokerage firms

“In a separate action, the United States Department of Justice has announced criminal charges against ConvergEx Group, a brokerage subsidiary, and the two former employees” reports financefeeds.com. The ConvergEx brokerage firms claimed to customers that they charge explicit commissions to execute equity trading orders. Source: financefeeds.com Share This:

Read More
Brokers Markets News 

Zenefits to end insurance brokerage business, using partners like employee benefits firm OneDigital instead, and shift focus to HR software for small businesses

“Zenefits went to its customers, focus groups, analysts and other groups to assess the kind of damage that had been done to the Zenefits brand” writes Matthew Lynley for techcrunch.com. That includes not only the kind of mechanical changes happening at the brokerage level but the actual nitty-gritty bits down to the logo of the company.People are excited about what we’re doing, they’re excited about the refreshed brand, they love the problem. Source: techcrunch.com Share This:

Read More
Brokers Markets News 

Zenefits tries a rebrand and hands off insurance brokerage

“Zenefits went to its customers, focus groups, analysts and other groups to assess the kind of damage that had been done to the Zenefits brand” writes Matthew Lynley for techcrunch.com. People are excited about what we’re doing, they’re excited about the refreshed brand, they love the problem. Source: techcrunch.com Share This:

Read More
Brokers News 

Long & Foster acquires D.C.-area real estate brokerage firm

“For the second time in less than a week, another Washington-area real estate brokerage firm was sold” reports washingtonpost.com. Long & Foster’s acquisition comes five days after it was acquired by HomeServices of America, an affiliate of Berkshire Hathaway. “It is our intent as a company to continue to grow,” said Larry “Boomer” Foster, president of Long & Foster Real Estate.The company will transition to the Long & Foster brand in early autumn. Source: washingtonpost.com Share This:

Read More