Announcing: Interactive Brokers, Powered by TradeIt

We’re excited to announce that we’ve connected our core products — Portfolio View and Trading Ticket — to Interactive Brokers, the largest electronic broker by DARTs and a top choice for active traders worldwide.

Over the past month, we launched early-access IB support on Stockflare and the Trigger Finance app. Today, we’re extending IB connectivity to our entire partner network, so IB clients can view their accounts and trade from any of the apps in our sphere.

IB and Trigger 2 (2).png

“As one of the leading platforms for active investors, we are constantly upgrading our systems for the future. We’ve heard from our customers that they want to be able to take secure action from the apps they use,” said Steve Sanders, Executive Vice President of Interactive Brokers. “Our partnership with TradeIt enables IB to reach our customers wherever they prefer to operate with a high level of sophistication and security.”

After four decades of focus on technology and automation, Interactive Brokers is equipped to provide cutting edge technology and tools at the lowest costs in the industry. We’re thrilled to distribute IB’s offering across our partner network to help their clients stay connected from anywhere.

If you’d like to add IB connectivity to your platform, shoot us a note at support@trade.it.

 

FinTech News: May 26th, 2017

Summer has sprung! Here are our top Friday reads this week:

A Quant Program is the Reason You Just Bought that ETF (WSJ)

BlackRock is using Twitter sentiment data to sell you their funds at the perfect time.

The World’s Largest Bitcoin Exchange Couldn’t Handle this Week’s Crypto Boom (TechCrunch)

Bitcoin hit all-time highs at $2,800 this week, and traffic was so high it crashed Coinbase, spooking some investors.

Teen chat app Kik to launch digital currency (Finextra)

Kik, sometimes called the “WeChat of the West,” launched its own cryptocurrency, “Kin,” for in-app transactions and services offered on the platform.

Fintech News: April 7th, 2017

News this week: How the CFA made fund managers obscolete, the pitfalls of China’s unregulated retail investment products, and Jamie Dimon hints at JPMorgan’s evolving “fintech” strategy:

Swipe by Swipe, Chinese Smartphone Users Flock to Risky Investments (The Wall Street Journal)

The Chinese government has championed personal finance as a way to diversify their economy beyond manufacturing. But rapid growth has led to poorly regulated products – where anyone can create an ETF and market it to consumers.

Who Killed the Active Manager? (Bloomberg Gadfly)

The CFA certification, Vanguard’s rise, and other factors that led to the decline of the active fund manager over the past ten years.

What Dimon Had to Say About Fintech in his Annual Letter (American Banker)

JPMorgan’s chief used “fintech” to refer to new in-house technologies, API partnerships with fintech startups, and digital banking experiences.

FinTech News: March 24th, 2017

This week, lots of drama in the cryptocurrency world: Bitcoin’s community could split the currency, Ethereum continues surging, as governments debate over who regulates fintech. By the way, what is Ethereum?

Bitcoin Price Plunges on Fears of a Currency Split (The Wall Street Journal)

bitcoin-and-ethereum-sitting-on-a-tree@2xThe bitcoin developer community is divided over block size limits, and it’s threatening to split the currency in two. Unlike the volatility that followed Bitcoin’s ETF rejection, this debate carries fundamental implications for the cryptocurrency’s future. A permanent, definitive record of every transaction is central to Bitcoin’s value proposition, so splitting this history into two will cause uncertainty and could provide liquidity problems. Bitcoin price has hovered around $1000 all week, down from its previous highs around $1250.

New York Grants Coinbase License to Trade Ethereum (Fortune)

Ethereum, the current leader of “altcoin” currencies, has been unavailable to investors in New York. This week, the state legislature granted Coinbase a license to provide Ethereum,  and criticized the OCC’s encroachment on fintech reculation. The debate continues over who is best equipped to regulate fintech – states or the federal govermnent.

What is Ethereum, and Could it Actually Replace Bitcoin? (Mashable)

Ethereum 101: what is it, and why are people suddenly talking about it? It’s a nerdier and slightly more complicated version of Bitcoin – and some companies are getting behind it. It’s up 200% in the past month. Get the overview here.

 

Fintech News: March 17th, 2017

This week: the Bitcoin ETF was rejected last Friday, and alternative cryptocurrencies are rallying, China’s winner-takes-all fintech market, and $SNAP’s IPO could encourage private unicorns to make the jump and go public.

Ethereum Price Tear Continues Setting All Time Highs (CoinDesk)

Ethereum, a bitcoin alternative, rallied 230% this week. The cryptocurrency’s main feature is “Smart Contracts,” which automatically execute when the conditions are met. That’s obviously useful for businesses, and JP Morgan, Intel, and Microsoft are experimenting with it. This week, it rallied from $15 to a peak of $50 as speculators questioned Bitcoin’s ability to remain the dominant cryptocurrency.

Alibaba, Tencent to Get Most of China Fintech (Investopedia)

The Chinese fintech market is predicted to grow to $67 Billion by 2020, and it appears the giant tech companies are going to reap most of the profits.

Snapchat Means IPO Ice Age is About to End (Forbes)

The most valuable private tech companies in the country – Airbnb, Uber, etc – have avoided IPOs at all costs for the past few years. Now, Snapchat’s (relative) success could encourage them to change course and go public.

Fintech News: March 3rd, 2017

This week, the ripple effects of dropping fees in the wealth management industry, and a robo-advisor just for Asian-Americans.

The Asset Management Pressure Cooker (Bloomberg)

As money continues moving to low-fee, passively managed funds, BlackRock, Fidelity and Vanguard are seeing assets soar to new highs. But the revenue that fund managers generate per dollar is falling, putting pressure on the securities industry to rethink the way they do business.

Ex-Scottrade execs see Asian-American, Chinese market ripe for robo advice (Financial Planning)

As robo-advisors have grown in popularity, new entrants have started marketing them to specific demographics, such as Ellevest for women, and FinHabits, for Latin Americans. Now, Scottrade execs are forming a robo for the Asian-American community in LA and NY.

E*Trade is the Latest Entrant in the Online Broker Price War (Yahoo! Finance)

After remaining silent as its rivals, Schwab, TD and Fidelity slashed fees, E*Trade joined the race by dropping its trading fee from $9.99 to $6.95.

 

Fintech News: February 24th, 2017

This week’s top stories: Why China is beating the rest of the world on fintech adoption, Wall Street gets ready to fight regulations old and new, and the data battles between banks and fintech firms continue.

In Fintech, China shows the way (The Economist)

By just about every measure, China dominates consumer fintech, generating over 50% the world’s mobile payments and 75% of P2P loans. How did it get so big so fast? State-owned banks were so slow to innovate that they opened the door to new entrants. China’s middle-class exploded and had mobile phones before they had credit cards.

Why a clear answer to the data-sharing debate remains elusive (American Banker)

Screen scraping is an outdated, insecure way to access banking data. Luckily, it’s being replaced by oAuth, which allows apps to pull data without using your login credentials. Next, the industry hopes to establish a single, widely-adopted standard for APIs.

Wall Street Girds for Regulatory War (Bloomberg)

Trump has pledged to roll back the regulations aimed at preventing another financial crisis. While the news has focused on the broad regulations of Dodd-Frank, smaller agency rules are just as important: the OCC, CFTC, and Fed will be more influential in the short-term.

 

FinTech News: February 17th, 2017

This week in fintech: stock trading vs robo-advisors, bitcoin shows signs of maturation, China’s PayPal is raising billions, and Nasdaq’s 2017 fintech predictions:

Why DIY Investors Still Aren’t Flocking to the Robo-Advisors (Forbes)

The robo-advisor is a fast-growing trend, but active investors aren’t going anywhere. Here’s why the market for active trading is growing, not shrinking, alongside the market for automated investment advice.

Is Bitcoin Growing Up? (Bloomberg)

As Bitcoin’s use cases become more “mainstream,” its price is becoming much less volatile. While there is no ETF for Bitcoin (yet,) futures contracts are now allowing more investors to hedge their positions or even short Bitcoin, which is helping to smooth out price fluctuations.

Ant Financial Raising $3 Billion to Fund Deals (Bloomberg Tech)

Ali Baba’s financial arm, the owner of AliPay, is raising $3 Billion in debt to fund its latest acquisitions, including the $880 million purchase of MoneyGram, which has a presence in the US. The fundraising comes ahead of their planned IPO, which is expected to value the company at $60 billion, even higher than PayPal.

State of Fintech For 2017 (NASDAQ)

Nasdaq put out some predictions for 2017 fintech. Among them: cryptocurrencies grow up, chatbots find a home in finance, and AI automates the back office.

Fintech News: February 10th, 2017

This week in Fintech: an investing guru is worried about Trump’s economics, why banks can’t copy startups anymore, and Wells Fargo opens up customer data access to Mint.

Banks Need Their Own Innovation Model (American Banker)

The traditional banks are appointing “Chief Innovation Officers” to copy existing products produced by startups. But analysts worry that they’re doing it wrong, since the startup model of “iterate fast” and MVPs isn’t suited to financial corporations. This column suggests more effective ways for banks to innovate:

Intuit Signs Deal With Wells Fargo to Share Customer Data (VentureBeat)

Even the most reluctant banks are opening up to the use of APIs. Following Morgan Stanley, Wells Fargo agreed to give data access to Mint (Intuit) this week.

A Quiet Giant of Investing Weighs In On Trump (The New York Times)

Seth Klarman is the Warren Buffett you’ve never heard of, and he’s worried about a Trump presidency on the markets. In particular, the longer-term effects of protectionism and inflation, which investors haven’t priced in while the S&P has rallied over the past 3 months.

 

FinTech News: February 3rd, 2017

This week, more “fin” than “tech” news in the wealth management space. While FinTech startups continue fighting for open access to financial data, brokers continued fighting the new DoL regulation, and price wars continued with trading fees and fund expenses.

Fintech Startups Want to Save One Key Page of Dodd-Frank (The Wall Street Journal)

President Trump has threatened to do a “big number” on Dodd-Frank, which covers everything from banking regulation to credit cards to trading fees. Fintech startups are lobbying to keep Section 1033 in place, which gives them the right to access data from their customers’ bank accounts.

Brokers’ Ire Misdirected on Fee Rule (Bloomberg Gadfly)

Brokers are balking at the DoL fiduciary ruling by saying that it involves too much red tape, hurts consumer choices, and is too complex. However, this columnist argues that their biggest threat is investors moving towards low-fee investments that avoid conflicts of interest. He argues that brokers should focus on openly promoting high-fee products, rather than entering into backdoor arrangements with fund companies and passing the fees to individual investors without their knowledge. In the long run, client trust is the most important asset.

Online Brokerages Head Lower as Schwab Slashes Trading Costs (Seeking Alpha)

Charles Schwab reduced its trading fee from $8.95 to $6.95 – undercutting many of its competitors. The brokerage also joined the fund price war by reducing fees of mutual funds and some of their corresponding ETFs. On Thursday, brokerage stock prices fell from 5-10% on the news.