Exchanges & Brokers Awards 2012

Best Advisory Broker:

Best Advisory Broker, Western Europe
Nexus Capital

Best Advisory Broker, Eastern Europe
NETTRADER

Best Advisory Broker, North America
First Manhattan

Best Advisory Broker, Latin America
Celfin Capital

Best Advisory Broker, Asia
Edelweiss Financial Services

Best Advisory Broker, Middle East
Ahli United Bank (Bahrain)

Best Advisory Broker, Australasia
Macquaire Bank

Best Advisory Broker, Africa
Merrill Lynch South Africa

 

Best Discretionary Broker:

Best Discretionary Broker, Western Europe
Credit Suisse

Best Discretionary Broker, Eastern Europe
PBZInvestor

Best Discretionary Broker, North America
Citigroup

Best Discretionary Broker, Latin America
Corredores Asociados

Best Discretionary Broker, Asia
Credit Suisse Japan

Best Discretionary Broker, Middle East
Dubai Finance Group

Best Discretionary Broker, Australasia
First Prudential Markets

Best Discretionary Broker, Africa
Investec Securities

 

Best Online Broker:

Best Online Broker, Western Europe
4XP

Best Online Broker, Eastern Europe
easy-forex

Best Online Broker, North America
Infinity Brokerage Services

Best Online Broker, Latin America
J. Safra CVC

Best Online Broker, Asia
HotForex

Best Online Broker, Middle East
Royal Forex Trading

Best Online Broker, Australasia
Interactive Brokers

Best Online Broker, Africa
Standard Financial Markets

 

Best Execution Broker:

Best Execution Broker, Western Europe
Ava FX

Best Execution Broker, Eastern Europe
PKO Bank Polski

Best Execution Broker, North America
TD Waterhouse

Best Execution Broker, Latin America
ICAP do Brazil

Best Execution Broker, Asia
CLSA

Best Execution Broker, Middle East
Oanda

Best Execution Broker, Australasia
UBS

Best Execution Broker, Africa
Auerbach Grayson

 

Best Sustainable Stock Exchange:

Best Sustainable Stock Exchange, Western Europe
Malta Stock Exchange

Best Sustainable Stock Exchange, Eastern Europe
Warsaw Stock Exchange

Best Sustainable Stock Exchange, North America
One Chicago

Best Sustainable Stock Exchange, Latin America
BM&F Bovespa

Best Sustainable Stock Exchange, Asia
Hong Kong Stock Exchange

Best Sustainable Stock Exchange, Middle East
ADX

Best Sustainable Stock Exchange, Australasia
New Zealand Stock Exchange

Best Sustainable Stock Exchange, Africa
Johannesburg Stock Exchange

 

Best Trading Technology Company:

Best Trading Technology Company, Western Europe
Deutsche Bank

Best Trading Technology Company, Eastern Europe
ProQuote

Best Trading Technology Company, North America
Tibco

Best Trading Technology Company, Latin America
Systech

Best Trading Technology Company, Asia
Hitachi Software

Best Trading Technology Company, Middle East
Mubasher

Best Trading Technology Company, Australasia
ASX

Best Trading Technology Company, Africa
3I Infotech

 

Best Binary Options Platform:

Best Binary Options Platform, Western Europe
4XP

Best Binary Options Platform, Eastern Europe
Option Bit

Best Binary Options Platform, North America
Banc De Binary

Best Binary Options Platform, Latin America
Start Options

Best Binary Options Platform, Asia
Banc De Binary

Best Binary Options Platform, Middle East
Any Option

Best Binary Options Platform, Australasia
24 Option

Best Binary Options Platform, Africa
EZ Trader

 

Best IPO:

Best IPO, Western Europe
Glencore

Best IPO, Eastern Europe
JSW Coal Group

Best IPO, North America
HCA Holdings

Best IPO, Latin America
Acros Dorados

Best IPO, Asia
Hutchinson Port Holdings

Best IPO, Middle East
National Takaful Company

Best IPO, Australasia
QR National

Best IPO, Africa
Tullow Oil

 

Best Analyst:

Best Analyst, Western Europe
Credit Suisse

Best Analyst, Eastern Europe
KBC Securities 

Best Analyst, North America
Goldman Sachs

Best Analyst, Latin America
BTG Pactual

Best Analyst, Asia
Great Wall securities Co

Best Analyst, Middle East
Dubai Finance Group

Best Analyst, Australasia
First Prudential Markets

Best Analyst, Africa
Investec Securities

 

Best Tangible Asset Broker:

Best Tangible Asset Broker, Western Europe
CBRE Richard Ellis

Best Tangible Asset Broker, Eastern Europe
Firmus Group

Best Tangible Asset Broker, North America
USA Gold

Best Tangible Asset Broker, Latin America
Fortaleza

Best Tangible Asset Broker, Asia
Tennet Group

Best Tangible Asset Broker, Middle East
Gold AE

Best Tangible Asset Broker, Australasia
LJ Hooker

Best Tangible Asset Broker, Africa
ECPlaza

 

Best Commodities Broker:

Best Commodities Broker, Eastern Europe
X-Trade Brokers

Best Commodities Broker, North America
Marex Spectron

Best Commodities Broker, Latin America
Goldman Sachs

Best Commodities Broker, Asia
Selby Jennings

Best Commodities Broker, Middle East
Gold.ae

Best Commodities Broker, Australasia
Saxo Capital Markets

Best Commodities Broker, Africa
Tradition

 

Best CFD Broker:

Best CFD Broker, Western Europe
Ava FX

Best CFD Broker, Eastern Europe
Ava FX

Best CFD Broker, North America
Saxo Bank

Best CFD Broker, Latin America
Dif Broker

Best CFD Broker, Asia
Dif Broker

Best CFD Broker, Middle East
AM Financials

Best CFD Broker, Australasia
CS Securities Broker

Best CFD Broker, Africa
GCI Financial

 

Best High Frequency Trading Company:

Best High Frequency Trading Company, Western Europe
Corvil

Best High Frequency Trading Company, Eastern Europe
Algospan

Best High Frequency Trading Company, North America
Solarflare

Best High Frequency Trading Company, Latin America
Link Investimentos

Best High Frequency Trading Company, Asia
Real Time Systems

Best High Frequency Trading Company, Middle East
Mubasher

Best High Frequency Trading Company, Australasia
Tibra Capital

Best High Frequency Trading Company, Africa
Peregrine Holdings

Fastest Growing Broker*:

Fastest Growing Broker, Eastern Europe
X-Trade Brokers

Fastest Growing Broker, North America
Ditto Trade

Fastest Growing Broker, South America
Mirae Asset Global Investimentos

Fastest Growing Broker, Asia
New World Securities

Fastest Growing Broker, Australasia
Craigs Investment Partners

Fastest Growing Broker, Africa
28e Online

 

* The award for Fastest Growing Broker, Western Europe, originally presented to Worldwide Commodity Partners, has been rescinded following World Finance’s reevaluation of the firm’s presence in carbon market trading.

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The May – June 2013 Issue

Highest corporate tax
rates in Europe

European countries are scrambling to raise every last penny of funds through taxes. But some countries may have gone too far...

Belgium

Though all business taxes in Belgium can be paid online with little effort and preparation, the rates are still sky-high at 57.7 percent, including a staggering 50.8 percent total rate on profits only in social security contributions.

Belarus

In Belarus, a company spends up to 338 hours annually preparing for and paying ten different taxes and duties. The total tax rate has incredibly been lowered to 60.7 percent, from 117.5 percent in 2008.

France

A company in France pays seven different taxes and duties, the sum of which can amount to 65.7 percent of profits; though President François Hollande has announced a wave of business tax rate cuts coming up.

Estonia

A business in Estonia pays 67.3 percent of profits in tax, 37.2 percent exclusively in social security contributions. The country has gone against the grain in Europe by raising businesses taxes from 48.6 percent in 2008 to the current rates.

Italy

While corporate income tax (IRES) in Italy is limited to 38 percent of taxable profit, a company operating in Italy can expect to pay 14 other taxes and duties, including social security contributions, bringing their total payable tax to 68.7 percent of profits, according to the World Bank.

Norway

Norway taxes motor fuels twice, with a road use tax and a CO2 emissions tax. Combined with strikes in the energy sector that have curbed output, the price of gas at a local pump has soared to $10.12 per gallon.

Turkey

Though Turkey sits on the Suez Canal and neighbours many oil rich countries, the price of a gallon of average gas clocks in at $9.41 in Turkish pumps, because of a 60 percent share of taxes. 

Israel

Like Turkey, Israel is surrounded by oil-rich neighbours, but drills very little itself. Gas prices are controlled by the government, so about half of the $9.28 per gallon goes to taxes.

Hong Kong

There are few gas stations in Hong Kong, but the ones available charge up to 76 percent more per gallon than mainland China, where the government caps the cost of fuel. A gallon at the pumps will cost around $8.61 on the island.

Netherlands

Expensive labour costs make the Dutch petrol prices the dearest in Europe, at $8.26 per gallon; though the 57 percent tax add-ons don’t help.

The credit crisis

8 February 2007
HSBC warns of subprime mortgage losses

2 April 2007
New Century goes bus

14 September 2007
Wholesale markets have dried up

17 March 2008
Rescue of Bear Stearns

7 September 2008
Rescue of Fannie Mae

15 September 2008
Lehman Brothers file for bankruptcy

3 October 2008
US congress approves $700bn bailout

14 February 2009
$787bn stimulus approved by congress

 

The effects of the current financial crisis are global and irrefutable. With the collapse of Lehman Brothers, the domino effect of irresponsible public monetary policies, huge levels of unsustainable debt, and a deregulated financial sector, has escalated to the point where no corner of the globe has been left untouched.

1973 oil crisis

October 1973
Syria and Egypt launch an attack on Israel on Yom Kippur and set off a twenty day war;

1977
US President Carter creates Department of Energy, which develops the US strategic petroleum reserve

 

The Organisation of Petroleum Exporting Countries (OPEC) used their oil reserves as a weapon with the Arab Oil Embargo against those who supported Israel. By January 1974, world oil prices were four times higher than they were at the start of the crisis, especially in the US, and the shock led to a huge drop in the stock market with NYSE losing $97bn in just six weeks.  The embargo lasted five months, and the effects are still seen today.

German hyperinflation

1922-1923

Hyperinflation
1923 – 1924
Stabilisation

 

The trouble began when Germany missed a repatriation payment, worth about one third of the German deficit in this period. Inflation was already high but by 1923 it was raging. Prices doubled within hours, and by late 1923, it cost 200bn marks to buy a single loaf of bread. People burned money as it was cheaper than buying firewood. Germany eventually regained control of its economy when it introduced the Rentenmark into circulation in 1923, and then the Reichmark in 1924.

The Great Depression

1929-1933
The Great Crash
1934-1939
Recovery and Recession

 

After the decadence of the Roaring Twenties, the 1930s saw the biggest economic slump of all time. The stock market crashed on 29 October 1929, and optimism and decadent living tumbled along with the figures. The GDP fell from $103.6bn in 1929, to $66bn in 1934 and the subsequent years of recovery were the most dramatic in US history.

1907 bankers’ panic

1907
Otto Heinze and his brother Augustus Heinze bought shares of United Copper.

 

The stock market was already cautious over the tight money supply, but the US was thrown into a depression after the stock market fell nearly 50 percent from its peak in 1906. The Heinze brothers thought they could influence market shares but ended up bankrupting lenders that provided the financing to buy the stock. A chain reaction left nine institutions bankrupt. By February 1908, the panic was over and the government created the Federal Reserve system, to prevent banks from exercising too much control over the economy.