Brokers News 

Leverate’s Global Head of Sales Ben Richter moves on to lead EuropeFX’s Australian division

“Mr Richter has been appointed Head of Australia at Cyprus retail FX brokerage EuropeFX, signaling the end of his tenure at brokerage technology provide Leverate” reports financefeeds.com. Joining EuropeFX represents a return to the retail FX brokerage sector for Mr Richter, who has spent the past two and a half years at Leverate, where he commenced his tenure as Head of Institutional Sales in January 2016, being promoted to Head of Global Sales in September 2017. Indeed, having worked at length on such a project, Mr Richter’s remit to drive…

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Brokers News 

Chinese Bank Unit to Pay Over Money-Laundering Compliance

“Photo: Reuters U.S. authorities and financial industry regulators penalized the New York-based brokerage unit of a large Chinese bank for failures in its anti-money laundering compliance program, imposing millions in fines” writes Samuel Rubenfeld for wsj.com. The brokerage also agreed to pay the SEC $860,000 without admitting or denying the commission’s findings.Industrial and Commercial Bank of China Financial Services LLC, or ICBCFS, cleared and settled billions of penny-stock shares without a sufficient compliance program, according to findings from the Securities and Exchange Commission and the self-regulator Financial Industry Regulatory Authority.The…

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Brokers Crypto News 

Brokerage Firm Sequant Capital Partners with Crypto Exchange HitBTC

“UK-based brokerage firm Sequant Capital has entered into a strategic partnership with the cryptocurrency exchange HitBTC. This partnership will allow the clients of the brokerage firm to have better accessibility of the crypto market” reports financemagnates.com. Sequant Capital is a regulatory compliant exchange registered with the Financial Conduct Authority in the United Kingdom.Moreover, the professional traders in of HitBTC will also get direct market access to crypto assets through Sequant Capita.HitBTC is one of the top ten cryptocurrency exchanges in the world in terms of trading volume.Mentioning this partnership, Sequant…

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Brokers News 

E*TRADE Earnings Estimates Move Higher on Back of Strong Q1

“During the quarter, E*TRADE saw a 3% increase in net new brokerage accounts, adding 59,685, and net new brokerage assets of $5.3 billion” writes Donna Fuscaldo for investopedia.com. According to Zacks Investment Research, E*TRADE’s earnings and comments about the remainder of the year resulted in several analysts revising their estimates.Meanwhile, the stock is actually trading at a discount to its industry when we factor in earnings growth.”. Wall Street, according to Zacks Investment Research, had expected the brokerage to weigh in with EPS of $0.79 and revenue of $690 million. Source: investopedia.com…

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Brokers News 

Ghanaian Brokerage Precise FX Transitions to MetaTrader 5

“Precise FX, a Ghanaian forex brokerage firm, announced on Wednesday that its clients will now be able to trade on the MetaTrader 5 platform” reports financemagnates.com. The platform was developed by MetaQuotes Software, a Cyprus-based software company that has developed several products for the financial services industry.Alongside its new MetaTrader 5 platform, the company also has an enterprise management system called Teamwox. Source: financemagnates.com Share This:

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Brokers News Stocks 

If professor David Hirshleifer is right, brokerage sales teams should call their clients on sunny days

“This, therefore, is a cheap and easy mood theory that perhaps should be considered by retail brokerages worldwide” reports financefeeds.com. A little considered motivator toward trading that is not part of the sales mantra within many retail brokerages is the effect that sunny weather has on trading, and its long standing position as a subject of research by financial markets academics.Back in 2003, two university professors published a report called “Good Day Sunshine: Stock Returns and the Weather”, which investigated the psychology behind such behavior and the patterns in trading…

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Brokers News 

E*TRADE Reports Record DARTs For Q1 but Sees Moderation in April

“E*TRADE Reports Record DARTs For Q1 but Sees Moderation in April E*TRADE’s stock was inching higher in trading Friday after the company reported first quarter results that beat Wall Street views and posted record daily average revenue trades (DARTs) as volatility in the stock market drew out more active traders” writes Donna Fuscaldo for investopedia.com. The CEO said that the recommendation will come in October when the company reports third quarter results.During the quarter, E*TRADE Financial Corporation (ETFC) saw a 3% increase in net new brokerage accounts, adding 59,685, and…

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