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Brokers, Broker Reliability, Online, Options, Data, News Discussion
blacksheep
post Posted: Mar 13 2019, 08:24 PM
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In Reply To: nipper's post @ Mar 13 2019, 07:55 PM

Agree. Not sure why people still use a broker - might benefit sophisticated high net worth investors who get special treatment in IPO allocations

I prefer to be in control of my money biggrin.gif although confess I did use a broker briefly when I first started to invest - learnt quickly he was not better than I in picking stocks and charged like a wounded bull.



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Mar 13 2019, 07:55 PM
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In Reply To: blacksheep's post @ Mar 13 2019, 07:37 PM

QUOTE
...... client money was used to cover off losses on bad bets on investment products by other clients......

keep ownership. Never "pool" . Understand what you are doing. There's a difference between trust and sales pitch.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: blacksheep  
 
blacksheep
post Posted: Mar 13 2019, 07:37 PM
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$20 million missing: Broker's client money used to cover losses
QUOTE
One of Australia's largest brokers, Halifax Investment Management, is set to head into liquidation after administrators discovered that some of the $210 million of client money was used to cover off losses on bad bets on investment products by other clients.

Investigations by administrators from Ferrier Hodgson have found that just under $20 million of customers' money is missing.

Ferrier Hodgson has likened the collapse of Halifax, which had 12,000 clients in Australia and New Zealand, to other high-profile stockbroker collapses in recent years including BBY, Sonray and Opes Prime.

Action against the company by the corporate regulator is a distinct possibility, with sources saying the Australian Securities and Investments Commission was taking a close interest in the outcome of the administration.

More than $190 million of client money remains frozen as the administrators seek court approval for distributing the money back to clients.

Given the "co-mingling" of client funds, this could see all customers of Halifax receiving less money than they had placed into their trading accounts, despite not being responsible for how their money was used by the company.

The missing money is equivalent to 9 per cent of the total customer funds held by Halifax ahead of its collapse. Halifax called in administrators just before Christmas, freezing customer funds.

Halifax's clients can still close out trades (i.e. sell shares in a particular entity, or close off a bet on the oil price falling, etc) but they are not able to recoup their funds.


read more - https://www.theage.com.au/business/banking-...313-p513tp.html



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: nipper  
 
blacksheep
post Posted: Mar 12 2019, 11:17 AM
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Ouch!! but true of many brokers, not just Canaccord
Beware of Canaccord bearing casino stocks
QUOTE
If Canaccord's brokers hit the phones bearing small-cap casino stocks, providence suggests investors should not answer. Or at the very least, be sure to sell out before the proverbial hits the fan.

read more - https://www.afr.com/brand/rear-window/bewar...20190311-h1c8ku



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jan 12 2019, 10:23 AM
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Stockbroker collapse traps $200 million from thousands of investors
QUOTE
The corporate watchdog has suspended the financial licence of a stockbroker that collapsed just before Christmas trapping more than $200 million in client funds.

Administrators from Ferrier Hodgson have likened the collapse of Halifax Investment Management to other high profile stockbroker collapses in recent years including BBY, Sonray and Opes Prime.

read more - https://www.theage.com.au/business/markets/...111-p50qr8.html



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 17 2018, 01:15 PM
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Interesting article on Stephen Silver/Hunter Capital and some of the stocks they backed
Hunter or the hunted? Fast life at the small end of town
QUOTE
A Fairfax Media analysis of Hunter Capital’s stock picks and activities reveals a firm that works for a wide number of small firms, quite a number of which incinerate shareholder investments.

Despite some appearing doubtful investments at the start, often these companies are backed by the Silver’s equity analysts — used by traders and investors to pick stocks — to in a spectacular way.

Silver tells Fairfax Media though that his company engages only “with companies which we believe will fundamentally perform and will be earning accretive in the long term”.

Of course nothing in investing is certain but some of Hunter's deals have raised eyebrows including a company called Magnum Gas & Power, which was once Golden Tiger Mining and is now Raven Energy.

'Strong news flow'
The company has prospecting licences in Botswana and an investment in a California gas basin, and brought in Hunter Capital to handle a share placement last July followed by the issue of new shares in August, both at 0.125 cents per share.

Despite working on myriad projects in Africa for several years, including a 2015 proposal to build a solar power station in Botswana, the company has achieved few results.

In August, Raven said it would sell its final assets in Botswana, two exploration licenses.

But in September last year, just a month after advising on the issue of new shares, Hunter Capital’s equity analyst J-François Bertincourt placed a 14 cents target price on the company, more than seven times what the stock was trading at on the day.

“Strong news flow is expected in the next six months,” he wrote.

“Due to the high probability of success of the Tulainyo structure we have constructed a development scenario, which assumes a gas field development.”

To date, there has been no development – but instead the project has hit legal hurdles from co-investors, and the company remains suspended from the Australian Securities Exchange after failing to pay listing fees in August, having gone into trading halt in March.

And while the directors collected hundreds of thousands of dollars, the company has remained off the stock market, last trading in March at just 0.2 cents per share, a long way from Hunter Capital’s estimate.

If that was a one-off, perhaps it would not have raised curious looks. Things go wrong.


read more - https://www.theage.com.au/business/banking-...116-p50gfm.html



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


mercury
post Posted: Aug 6 2018, 09:05 PM
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In Reply To: Teduardo's post @ Aug 6 2018, 04:07 PM

Metastock I like(d)....haven't used it for awhile.You need the software first (not sure what they charge these days...maybe you can tell me in your reply)But then you need daily data for the charting software (Metastock) which can be purchased from vaious companies.I used to use Paritech.



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Teduardo
post Posted: Aug 6 2018, 04:07 PM
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Hi all, first time poster and getting back into trading after a number of years and things have moved on a bit...Hoping I can get some peoples experience with charting software and DMA CFD brokers for swing trading OZ stocks - or direct me to any previous posts on the topic.

The charting platforms on the consideration list: Sierra Chart, Ninja Trader 7 or 8, TradeStation, MetStock and Multicharts...the reason being I use an indicator which has been coded for these platforms only.

As mentioned, I'm also looking for a good DMA CFD broker. I understand FP Markets offer DMA as does IG on some products - any feedback would be great.

I'm also interested to know if you can now integrate broker data & order placement with charting platforms or would I need to run applications separately?

Again, its been a while so getting up to speed available options so thanks for your input.

Cheers

T

 
blacksheep
post Posted: Jul 19 2018, 10:04 PM
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Interesting article - Cayman broker charged with securities fraud

extract
QUOTE
The Securities and Exchange Commission has charged Cayman Islands-based broker Oliver-Barret Lindsay together with a stock promoter and three others involved in a series of alleged penny stock fraud schemes that unraveled as a result of an FBI undercover operation and an SEC trading suspension.


QUOTE
On Jan. 29, 2018, Mr. Giguiere promoted the KVMD stock on TheMoneyStreet, a website he controlled, with an article titled “Can Machine Learning Actually Predict Therapeutic Results?”

The article claimed that TheMoneyStreet was “diving into the consumer sports and active lifestyle therapy market, specifically the sub-sector of combined fitness tracking, artificial intelligence and therapeutic treatment” and that it had identified KVMD as “[o]ne such Company perfectly positioned to take advantage of this fast-growing category.”

The article then recommended investing in KVMD by stating: “[W]e believe that the investment opportunity is right now. And you can’t play if you aren’t in the game. Given Kelvin Medical’s (OTC: KVMD) current share price, we believe that a double or triple share price value is not out of the question. But like we always say, YOU MUST OWN KVMD in order to ride its growth. So HURRY up and do your own research on Kelvin Medical, and make sure to show this information to your broker.”

The article did not disclose that Mr. Giguiere owned and controlled TheMoneyStreet, or that Mr. Giguiere was a control person of KVMD.

On March 12, Mr. Giguiere and Mr. Lindsay allegedly began selling the 1.5 million shares of KVMD held by Cataleya at Cayman broker CMGT. However, their plan to sell these shares at a predetermined price “between a dollar fifty and a dollar seventy” was thwarted, the complaint said, when, on March 19, the SEC suspended trading in the securities of the purported medical device company, “due to concerns about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in KVMD’s common stock.

The SEC’s complaint also charges three others who began laying the groundwork for an unrelated pump-and-dump scheme.

“As alleged in our complaint, these stock traders hijacked companies and manipulated the market to enrich themselves at the expense of the investing public. Law enforcement is committed to rooting out microcap fraud and exposing it no matter how encrypted or complex such schemes may be,” said Marc P. Berger, director of the SEC’s New York Office.

https://www.caymancompass.com/2018/07/18/ca...curities-fraud/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jun 9 2018, 08:57 PM
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In Reply To: blacksheep's post @ May 24 2018, 07:40 PM

The dark art of capital raising
by Jemima Whyte
extract
QUOTE
The Australian Securities and Investments Commission has flagged it will examine allocations, to ensure stock is allocated in the best interest of the corporate client, rather than the broker's clients. The regulator says it will make site visits and conduct reviews, as well as examine communication with investors about the bookbuild as it develops.

Book messages – the updates that brokers sent to clients about demand for deals – have changed since the ANZ placement, sources have said. It is the dismantling of another unwritten market rule: never believe the broker when he says the book is well bid.


read more - https://www.afr.com/business/banking-and-fi...20180607-h1146z



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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