Brokers News 

US-Sino trade war has made dealing with China ‘more difficult,’ Middle East real estate CEO says

“From an import and an export standpoint, China is a very important trade partner (to the Middle East)” writes unknown author for cnbc.com. A long-running trade war between the world’s two-largest economies is taking its toll on business sentiment in the Middle East, according to the chief executive of real estate and property services firm Majid Al Futtaim. “One thing is for sure, dealing with China is becoming more difficult,” Bejjani added.A trade dispute between the U.S. and China has battered financial markets in recent months, with market participants increasingly…

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Brokers News 

Japanese Brokers See Large Uptick in Deposits in December

“In terms of deposits, Japanese retail traders, across all 53 brokerages, deposited 184.34 billion yen ($1.69 billion) in December” writes David Kimberley for financemagnates.com. For brokers, that meant December was, with the exception of January, February and August, their best month for deposits in 2018.The Financial Futures Association of Japan (FFAJ) released a set of statistics this Friday detailing the state of the retail trading industry in the East Asian country.According to the investor protection and research agency, at the end of December 2018, there were 53 companies in Japan…

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Brokers News 

Data Broker Acxiom Comes Out in Support of Apple CEO Tim Cook’s Call for US Data Privacy Regulation

“One of the biggest ad data brokers has come out in support of Apple CEO Tim Cook’s call for federal privacy legislation to regulate the collection and use of personal data in the United States.In a statement Thursday evening provided to Business Insider , data broker Acxiom confirmed its support for federal privacy legislation” writes Day Ago On for macrumors.com. Cook, also supports a national privacy law for the US, such as GDPR provides for the European Union,” it read.A data broker acts as a middleman, transferring user data between…

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Brokers GBP News 

British Regulator Warns Against MarketGbp FX Broker

“British investors have been warned not to take out any financial services with MarketGbp after the Financial Conduct Authority (FCA) on Wednesday said it had faked its authorization” writes Aziz Abdel-qader for financemagnates.com. Today’s announcement is the latest in the FCA’s series of warnings about unauthorized firms posing as legitimate, approved businesses to con UK consumers into making payments for investment services.Their executives will also need to consider whether the financial promotions they approve are fair and clear, and don’t constitute misleading information. Source: financemagnates.com

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Brokers News 

Executive Warned Marex Spectron of Fraud Risks in Natixis Deal

“Two employees, including an executive, of the London-based commodities broker Marex Spectron had warned the firm about the risks of fraud before signing the metal financing deal with French bank Natixis which ended up in a $32 million lawsuit by the bank, according to a Reuters report” writes Arnab Shome for financemagnates.com. In May 2017, Marex was slapped with a lawsuit by Natixis accusing that the broker had provided fake warehouse ownership receipts for nickel. Source: financemagnates.com

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Brokers News 

Apple CEO Tim Cook blasted the invisible ‘shadow economy’ that profits off your information

“Apple CEO Tim Cook came after the “shadow economy” of firms profiting from people’s personal data in a column for Time Magazine on Wednesday” writes Isobel Asher Hamilton for businessinsider.com. Cook set his sights on data brokers, saying that they need to be reined in.The biggest data brokers are firms such as Axciom, Experian, and Oracle.Cook called for the US government to create federal privacy legislation to empower consumers and make data brokers register with a specialised “clearinghouse” to increase transparency. Source: businessinsider.com

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Brokers GBP Markets News 

Brokers Brace for Volatile Market Ahead of Brexit Vote

“In an attempt to reduce the fallout from a Brexit vote, many brokers are putting safety measures in place” writes Celeste Skinner for financemagnates.com. Back in June of 2016, following the big Brexit vote, many brokers struggled to meet their customers’ demand as there was a squeeze on liquidity. Source: financemagnates.com

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Brokers News 

Finding The Best Jurisdiction for Your Brokerage

“Establishing a new forex business brings with it a long series of critical decisions and risky choices” reports financemagnates.com. However, obtaining a brokerage license in these countries would require a minimum Net Capital which is out of reach for most new brokers.Although each and every country in the world has its own legal framework, one can generally group the popular forex brokerage jurisdictions into 2 major categories: Prestige locationsand Offshore options.Below are two popular jurisdictions for forex brokers. Source: financemagnates.com

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