Brokers News 

Doing a background check on your financial adviser is getting tougher

“Get a daily roundup of the top reads in personal finance delivered to your inbox” writes Coulter Jones for marketwatch.com. These brokers were more likely than other ones to receive additional complaints or other allegations of misconduct after their records were cleaned, according to the academic paper, which analyzed public regulatory records from 2007 to 2016. Source: marketwatch.com Share This:

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Brokers News 

Binary Options Ban Renewed By ESMA

“It was always going to be the case that the regulator continued its prohibition of binary options trading” writes David Kimberley for financemagnates.com. As with leverage caps, amongst other restrictions on contracts-for-differences (CFDs) trading, ESMA has given no indication that its position has changed with regard to binary options.The European Securities and Markets Authority (ESMA), the regulator responsible for implementing the rules, announced on Friday that it would be renewing the ban on binary options for another three months.Any brokers still hoping for a repeal of the product intervention measures introduced…

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Brokers Markets News 

Salaries in the FX Industry are Exploding – is it Sustainable?

“Over the past year, the European Securities and Markets Authority (ESMA) has been shaking up the foreign exchange (forex) industry” reports financemagnates.com. Speaking to Finance Magnates, Reece Pawsey, the Co-Founder at FinTop Consulting, a recruitment agency specialising in the forex industry, said: “as a result, salaries have increased massively, especially in the UK market.Whilst this might make candidates nervous, particularly those just starting out in the industry, it has actually resulted in a positive thing for professionals – salaries are exploding.The average London Trader salary is 21.1% more than the…

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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,…

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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:

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Brokers GBP Markets News 

How Have Brexit and ESMA Impacted the FX Job Market?

“This is the second article in a four-part series, aiming to dive into the various aspects of human resources in the forex industry” reports financemagnates.com. Brexit, blockchain, cryptocurrencies and regulatory changes – the foreign exchange (forex) industry has seen it all.This is despite fears that Brexit would negatively hurt UK jobs in the finance industry.Will Brexit and regulation from the European Securities and Markets Authority (ESMA) be the death of the industry?. Are London-based brokers now only hiring UK citizens to avoid any future hassles?.  Source: financemagnates.com Share This:

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Brokers Crypto News 

Leverate Debuts Crypto Payment Gateway For FX Brokers

“Foreign exchange (FX) brokerage solutions provider Leverate is rolling out a cryptocurrency solution aimed at promoting crypto adoption among brokers and businesses” reports pymnts.com. We believe that safe and stable payment solutions are the next step in the cryptocurrency evolution.”. The addition of the payment gateway solution targets friction in brokers’ clearance processes and automatically exchanges clients’ fiat currencies to cryptocurrencies.The launch of Terrexa Pay follows the introduction of the Terrexa brand by Leverate to allow users to exchange fiat currency for cryptocurrency. Source: pymnts.com Share This:

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Brokers Crypto News 

Leverate Launches B2B Crypto Payments Solution ‘Terrexa Pay’

“Trading technology provider Leverate has launched a new service called Terrexa Pay which aims to help brokers and other businesses adopt cryptocurrencies” reports financemagnates.com. Terrexa Pay represents Leverate’s latest initiative into the crypto space which mainly aim to improve client retention and acquisition amongst brokerages.Leverate previously outlined to Finance Magnates the group’s forward-looking agenda and efforts to help brokers.Terrexa Pay emphasizes simplicity as the company offers a plugin or a widget application to integrate the service into the brokerage website alongside other payment options. Source: financemagnates.com Share This:

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Brokers Markets News 

Brokers Scramble to Inform Clients about Euronext Connectivity Issues

“Monday morning started with some market issues as to European equities markets operator Euronext experienced some technical difficulties” reports financemagnates.com. The issue affected several broker feeds which have been offering access to European equities markets.After the official message to market participants that the issue has been closed, the website of Euronext still appears to be very slow.Euronext’s issues started around the market open in Europe and persisted for most of the morning. In the meantime, brokers should be back to normal functionality as the market is fully functional. Source: financemagnates.com Share…

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Brokers News 

A Question of Loyalty: Brokers Demand More From Their Employees

“Reece Pawsey, the Co-Founder at FinTop Consulting, a recruitment agency specialising in the forex industry, sat down with Finance Magnates” reports financemagnates.com. Over the past 12 months, the foreign exchange (forex) industry has changed astronomically – particularly in the European Union.Finance Magnates also sought the wisdom of Ioanna Vlassi, a recruitment and human resource professional with years of experience in the forex industry.One thing that has plagued the forex industry for a long time, is a high turnover rate.Only five years ago it was acceptable for someone to leave the…

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