Brokers’ Update – July 29: Industry Training Center and Admiral Markets

The European Institute of Management and Finance gets Accredited Provider Status from the Chartered Institute for Securities Investment UK.

In today’s daily digest of news from the online trading industry, we have a couple of updates from across the world.

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The European Institute of Management and Finance (EIMF), the only specialized education and training institute in Cyprus that caters towards the needs of the Financial Services Market, and with the largest number of expert trainers from the sector, is proud to announce that it has received Accredited Training Provider status from the Chartered Institute for Securities & Investment (CISI).

To achieve the accreditation, the EIMF had to meet a number of criteria, including having members of the tutoring staff as CISI full members within one year of the application, demonstrating strong tutoring and learning resources, as well as administration and record keeping procedures, and passing a strict approval visit that evaluated the Management’s experience.

Mr. Marios Siathas, General Manager of the EIMF, commenting on this success said: “We are honoured by the decision of the Chartered Institute for Securities & Investment UK to approve the EIMF as an Accredited Training Provider in Cyprus. This is a great addition to the EIMF’s growing list of achievements and a fitting confirmation of our high level of specialisation and the expert level of our training and education provision for the Sector.”

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Presenting the Accreditation Certificate on behalf of the CISI, Mr Petros Florides, President of CISI Cyprus said: “On behalf of the Cyprus National Advisory Council, I congratulate the EIMF for achieving the status of ‘Accredited Training Provider’ from the Chartered Institute for Securities & Investments. As such, the EIMF is a valued partner to the CISI in promoting standards of professionalism, integrity and excellence within the financial services in Cyprus and beyond. We look forward to close working relationship.”

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Admiral Markets Simplifying Commissions

Admiral Markets UK Ltd has announced that starting from August 10th, 2015, it will cut the commission and apply a simplified calculation model on its ECN (Admiral.Prime) accounts.

The current commission rate is USD 35 per 1 million USD of a position’s notional value, which is about USD 7.63 per 1.0 lots EUR/USD round turn (assuming the market rate is 1.09). After the change rate: currency pairs and spot gold – USD 3.01 per 1.0 lots; spot silver – USD 0.3 per 1.0 lots.

In this way the new commission will cut the trading-related overhead costs on the most popular instruments, plus making it more transparent and simpler for clients to calculate.

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