Brokers Markets News 

Rising Client Acquisition Costs Squeezing Small Brokers

“It was the implementation of MiFID II that started a tectonic shift in client acquisition costs in the industry” writes Victor Golovtchenko for financemagnates.com. While industry consolidation has been a theme, there is a precursor which is causing it: ever-rising client acquisition costs.The talk of the day now are ever-rising client acquisition costs that keep swelling.Official stats for client acquisition costs have only been published by Plus500 so far. Source: financemagnates.com

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Brokers News 

Has your broker or advisor landed on FINRA’s ‘bad guy’ list?

“In other words, how well do you know your advisor or broker?” writes -andy Penry for cnbc.com. In December alone, brokerage firms agreed (without admitting or denying guilt) to an aggregate $2.4 million in fines — and more than half of that amount arose from inadequate supervision of brokers who caused investor harm, according to the latest rundown of enforcement actions by the Financial Industry Regulatory Authority. Commonly called FINRA, it’s the self-regulatory organization for roughly 630,000 brokers — some of whom also are registered with the Securities and Exchange…

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Brokers Markets News 

Devexperts Hints at the AI Future with a New Version of its Chatbot

“For brokers, this chatbot represents a new engagement channel, which is aimed at boosting their clientele base and their affiliate business” writes Victor Golovtchenko for financemagnates.com. Devexperts is providing the service for white labeling and brokers can customize the product to cater to their own preferences.One of the leading software developers in the industry, Devexperts launched today a new product catering to some specific broker needs.Moreover, it is also delivering a glimpse of the future of support and provides a new way for brokers to cut some costs. Source: financemagnates.com

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Brokers News 

Kabu Sees Lowest Monthly Revenues in Over Three Years

“For the five months prior to January, the firm averaged 619.6 million yen ($5.61 million) in brokerage fee-based revenue” writes David Kimberley for financemagnates.com. In terms of commission fees, the broker managed to rake in 461 million yen ($4.17 million) last month.For example, revenue derived from equities trading declined to 209 million yen ($1.89 million).The firm reported total revenue from its market making activities as 595 million yen ($5.38 million) in January. Source: financemagnates.com

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Brokers News 

Plus500 Sees Record Revenues in 2018, But Forecasts Weaker 2019

“Not only did Plus500 have a record first half of 2018, as Finance Magnates reported, the broker also managed to close the year out on solid footing” writes Celeste Skinner for financemagnates.com. After having a record first half of the year, Plus500, an online contracts for difference (CFD) and forex brokerage, has announced its preliminary unaudited results for 2018.As can be expected, the broker managed to report a strong uptick in its key metrics, including revenues. Source: financemagnates.com

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Brokers Futures News 

Marex Spectron Completes Acquisition of Futures Broker RCG

“Marex Spectron, a commodities broker headquartered in London, announced this Monday that it has completed the acquisition of the customer business of Rosenthal Collins Group LLC (RCG), an independent Futures Commission Merchant (FCM)” writes Celeste Skinner for financemagnates.com. Although Marex Spectron has acquired RCG’s customer business, the company will maintain the RCG name and brand. Source: financemagnates.com

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Brokers Markets News 

Not all Brokers are Created Equal – What Sets Them Apart?

“Dealing Desk (DD) brokers are commonly known as market makers or B-book brokers are liquidity providers who create a market for their clients to trade on” reports financemagnates.com. Tier1FX is a specialist provider of prime liquidity, trading and technology solutions; The group’s reputation is built on a foundation of trust, reliability and transparency.STP FX brokers send orders directly from clients to their liquidity providers (LPs) via an electronic platform.Overwhelmingly, brokers agree that greater market transparency, relevant and timely information, liquidity, depth and best execution are extremely important for clients and…

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Brokers Markets News Stocks 

For sale sign sends shares in energy broker Utilitywise crashing

“Energy broker Utilitywise has become the latest casualty of the troubled energy market after putting itself up for sale as it seeks funding for a revival strategy” writes Charlie Taylor-kroll for telegraph.co.uk. Shares fell 70pc on Monday to a record low of 1.65p, giving it a market cap of £1.3m. Source: telegraph.co.uk

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Brokers News 

The Comeback of the Bulgarian FX STP Broker License

“Indeed, recently one of our partners in Bulgaria successfully assisted an international client in obtaining an FX STP broker license from the Bulgarian financial regulator, the Financial Services Commission (FSC)” writes David Woliner for financemagnates.com. Professional competence – this covers competence in management (the “management competence”) and competence in the area of the financial activities carried out by the financial services firm (the “technical competence”).As well known to the industry, Bulgaria is an attractive jurisdiction for many reasons.This successful application comes after several years of de facto license freeze, during which…

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