The Information Intelligence Platform (CIP) is an artificial intelligence-driven interface that creates “customized learning experiences for customers, collecting and classifying all of TD Ameritrade’s instructional content, and proposing content based on clients’behavior.” According to a press release, TD AmeritradeHolding Corporation(AMTD) has a collection of instructional material that comprises approximately 500 videos, seven courses, and over 2,000 articles. Based on user feedback, the platform will compile this massive amount of material in order to give the best educational experience possible.
Interactive Brokers and Charles Schwab Raise Margin Rates
Brokers are hiking overnight lending rates to account for rising yields and a weak bond market. Account holders at Interactive Brokers, Charles Schwab, and other major brokerages have lately received e-mail alerts of hikes that have pushed interest rates to multi-year highs. Customers of Interactive Brokers will now pay 3.68% on margin loans up to $100,000 and 3.18% on balances between $100,000.01 and $1,000,000. The Charles Schwab Corporation (SCHW) has raised its margin rates in a tiered system, with rates dropping to 8.025% at $100,000 and 6.25% at $1,000,000.
In other developments, Interactive Brokers has upgraded its IB Trader Workstation platform, which now includes an auto-restart option. Account users may now avoid the hated daily restart requirement by telling the software to log back in instead of shutting down the application for data changes. However, the upgrade has a few restrictions, including the need to manually begin each week on Sunday.[Reviews of forex brokers may be found on Investopedia to help you pick the best broker for your currency transactions.]
IG Group Enhances Trading Platforms
IG Group, based in London, has upgraded its desktop and mobile trading platforms, including new technical analysis capabilities such as the ability to create trendlines on indicator panels. Account holders, for example, may now draw trendlines over the highs and lows of moving average convergence divergence and on-balance volume histograms to hunt for hidden patterns that can be utilized to time position entry and exit. In addition, the mobile program now includes a measurement tool, and customers may now lock drawings to prevent unintended movement when scrolling sideways across charts.
The broker has recently published version 2.7 of the IG Academy app for iOS devices, which includes webinar and language preference changes. A previous edition brought Swedish support to the other eight languages, while the current version incorporates this flexibility into the live webinar series, which was added in May. Although the broker has an Android trading app, subsequent improvements have concentrated on the iOS platform.
Forex.com Trading Volume Hits Multi-Year Low
In September, forex trading volume at GAIN CapitalHoldings, Inc.’s (GCAP) American subsidiary Forex.com plummeted to a multi-year low of $149.6 billion. This is the first month in more than five years that volume has fallen below $150 billion, as opposed to the $200 billion-plus monthly volume recorded between January and June 2018. Glenn Stevens, CEO of GAIN, explained the deficit, stating that “lackluster trading conditions during the third quarter significantly affected trading volumes in our retail and futures businesses.”
CMC Markets Executive Suspended in Fraud Inquiry
Farzim Nazari, CMC Markets’ Chief Commercial Officer, and a Sydney-based employee have been suspended pending an inquiry for “conspiring to manipulate” contracts on broker-owned properties. CMC, located in London, has launched a court case in the United Kingdom demanding compensation, while CEO Peter Cruddas investigates the executive’s recent acts to discover whether fraud has spread into the company’s business processes.
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