TD Ameritrade has released the Content Intelligence Platform (CIP), an artificial intelligence-driven interface that builds "customized learning experiences for clients, organizing and categorizing all of TD Ameritrade's educational content, and recommending content based on clients' behavior." According to a company release, TD Ameritrade Holding Corporation (AMTD) currently stores a library of educational content that includes nearly 500 videos, seven courses and more than 2,000 articles. The platform will collate this enormous content based on user input, seeking to provide an optimum educational experience.
Interactive Brokers and Charles Schwab Raise Margin Rates
Brokers are raising overnight lending rates to accommodate surging yields and a struggling bond market. Account holders at Interactive Brokers, Charles Schwab and other mainstream brokers have recently received e-mail notices of increases that lift rates to multi-year highs. Interactive Brokers customers will now pay 3.68% on a margin loan balance up to $100,000 and 3.18% on balances between $100,000.01 and $1,000,000. The Charles Schwab Corporation (SCHW) has increased margin rates in a tiered schedule that drops to 8.025% at $100,000 and 6.25% at $1,000,000.
In other news, Interactive Brokers has updated the IB Trader Workstation platform, adding an auto-restart feature. Account holders can now bypass the unpopular daily restart requirement, which automatically shuts down the program for data updates, and tell the software to log back in. However, the enhancement has a few limitations, including a requirement to manually restart on Sunday of each week.
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IG Group Enhances Trading Platforms
London's IG Group has updated its desktop and mobile trading platforms, adding new technical analysis features that include the ability to draw trendlines on indicator panels. For example, account holders can now draw trendlines across the highs or lows on moving average convergence divergence and on-balance volume histograms, looking for hidden trends that can be used for position entry and exit timing. In addition, a measuring tool has been added to the mobile software, and clients can now lock drawings to avoid unintentional movement while scrolling sideways through charts.
The broker has also released version 2.7 of the IG Academy app for iOS devices, providing updates focused on webinars and language preferences. A previous version added Swedish support to eight other languages, while the new version integrates this flexibility into the live webinar series, which was added in May. The broker also offers an Android trading app, but recent updates have been focused on the iOS platform.
Forex.com Trading Volume Hits Multi-Year Low
Forex trading volume at GAIN Capital Holdings, Inc.'s (GCAP) American subsidiary Forex.com fell to a multi-year low in September, booking just $149.6 billion. This marks the first month in more than five years that volume has dropped under $150 billion and is in stark contrast with the $200 billion-plus monthly volume reported between January and June 2018. GAIN CEO Glenn Stevens addressed the shortfall, advising that "lackluster trading conditions throughout the third quarter negatively impacted trading volumes in our retail and futures businesses."
CMC Markets Executive Suspended in Fraud Inquiry
CMC Markets Chief Commercial Officer Farzim Nazari and a Sydney-based employee have been suspended, pending an investigation of "conspiring to rig" contracts on broker-owned buildings. London-based CMC has filed a U.K. court action seeking restitution while CEO Peter Cruddas examines the executive's actions in recent years to determine if fraud has extended into the company's business practices.