A book brokers list
This type of forex broker is becoming increasingly popular because forex traders are reassured by the absence of this conflict of interest, as well as the fact that these brokers have an incentive to have profitable traders since they will increase their trading volumes and therefore the brokers' profits.
Actual forex bonuses
What is the A book and B book that forex brokers use?
Forex trading is different from investing in shares or futures, because a broker can choose to trade against his clients. This system used by "dealing desk" market maker brokers is known as "B booking".
"no dealing desk" ECN/STP brokers send all of their clients' trades to the real market or to liquidity providers. They therefore use the "A booking" system.
However, many forex brokers use a hybrid model which uses a B book for clients who lose money and an A book for the profitable clients.
In the regulated futures contract and stock markets, all transactions are sent to an exchange that confronts buyers' and sellers' orders by sorting them according to price and time of arrival.
The A book - used by ECN / STP forex brokers
ECN/STP brokers all use an A book, they are intermediaries that send their clients' trading orders directly to liquidity providers or multilateral trading facilities (mtfs). These forex brokers make money by increasing the spread or by charging commissions on the volume of orders. Therefore, there are no conflicts of interest, these brokers earn the same amount of money with both winning and losing traders.
This type of forex broker is becoming increasingly popular because forex traders are reassured by the absence of this conflict of interest, as well as the fact that these brokers have an incentive to have profitable traders since they will increase their trading volumes and therefore the brokers' profits.
The B book - used by market maker brokers
Forex brokers that use a B book keep their clients' orders internally. They take the other side of their clients' trades, which means that the brokers' profits are often equal to their clients' losses. Brokerage firms are able to manage the risks associated with the holding of a B book by using certain risk management strategies: internal hedging through the matching of opposite orders submitted by other clients, spread variations, etc. As the majority of retail traders lose money, the use of a B book is very profitable for brokers.
It is obvious that this model generates conflicts of interest between brokers and their clients. Profitable traders can cause these brokers to lose money. Traders are often worried about being subject to the underhanded tactics of some brokers who seek to always be profitable. That's why the larger market maker forex brokers use a hybrid model that involves placing trades in an A book or in a B book based on traders' profiles.
The hybrid model
The popularity of the hybrid model is understandable, as it allows forex brokers to increase their profitability as well as their credibility. It also enables brokers to earn money off of profitable traders by dispatching their trading orders to liquidity providers.
To efficiently identify profitable traders, as well as unprofitable ones, forex brokers have software that analyses their clients' orders. They can filter traders according to the size of their deposit (the percentage of winning traders increases significantly for deposits over $10,000), the leverage used, the risk taken on each trade, the use or non-use of protective stops, etc.
The hybrid model is not necessarily a bad thing for traders because the profits made off of traders that are placed in the B book enable hybrid brokers to provide all of their clients with very competitive spreads, whether they are profitable or not. The main disadvantage of this system is that if a hybrid broker mismanages the risk of the B book, he can lose money and therefore endanger the company.
A-book and B-book types of forex brokers - what's the difference?
To understand the difference between the so-called A-book and B-book forex brokers, we have to understand what the concepts of the A-book and B-book are.
The general concept of the A-book and B-book refers to the manner in which brokers distinguish and separate their clients, based on the degree of risk that each clients’ order presents to the broker’s dealing desk. Retail forex brokerages typically have links with several liquidity providers in the interbank forex market. They get their liquidity and pricing from the big banks and prime brokers operating in the interbank market, and chop these into smaller positions that enable them fulfil their clients’ trade orders in a matter of milliseconds. These orders are all fulfilled automatically at the trading stations in the dealing desks operated by the retail forex brokers.
However, there are some orders which by virtue of trade size or due to the fact that these orders will pose in-house risk to the counterparty function of the dealing desks, cannot be fulfilled in-house. These orders will have to be routed to external venues for fulfilment. This is the basic operation that enables forex brokers to separate their clients’ orders into two liquidity buckets: the A-book and the B-book.
Before moving on to the discussion, it must be stated clearly here that there are no exclusive A-book or B-book forex brokerages. Nearly all, if not all forex brokers operate both models. Which liquidity bucket the forex broker decides to use at any time depends on what their clients are doing in the market.
It is also pertinent to define the dealing desk. A dealing desk is a department within a retail forex brokerage that is responsible for matching and executing trade orders of their clients. These clients are usually those in the B-book liquidity bucket.
A-book forex brokers
So who are the A-book forex brokers? These are the forex brokers that routinely pass on their clients’ orders for fulfilment in the interbank market or other external execution venues. They could sum up the traditional definition of a brokerage: they source the liquidity for their clients’ orders and pass these orders on for other entities to fulfil. They act like facilitators to these transactions. The closest brokerage model to the A-book forex brokerage model are the STP brokers. However, this is not to say that market makers do not routinely carry out A-book order fulfilments.
There are some reasons why some brokers decide to use the A-book fulfilment model. If a brokerage is an STP brokerage, this is pretty straightforward. By their very nature, these brokers never fulfil orders in-house. Orders are always sent to the interbank market. The broker makes money from spreads as well as from the commissions charged on the buy-sell sides of the trades. There is therefore no motivation to fulfil orders in-house.
For the market makers who routinely fulfil orders in-house using a dealing desk, the only motivation to perform A-book fulfilment transactions is simply to prevent risk to their positions. Market makers routinely take the opposite sides of their clients’ positions. Statistics have shown that 95% of retail traders lose money in forex, so this makes the counterparty operations of the market makers very profitable. However, there are the 5% of retail traders who consistently make money. Obviously, no brokerage will like to see their positions fall into losses on account of these traders. So the logical thing that the market makers do with such clients is to put them into a different liquidity bucket known as the A-book. The positions in the A-book are those which constitute inherent risks to the market maker and therefore the only way to avoid such counterparty risk is to ship the orders somewhere else for execution. The banks at the interbank forex market do not take counterparty positions, so they will be happy to fulfil such positions as they come in.
This is what the A-book operations are all about.
B-book forex brokers
Now what about the B-book forex brokers? As you may have guessed, the market makers always have the B-book system in operation. Remember the 95% of traders who are not usually profitable as forex traders? Well, these are the traders lumped into the B-book liquidity bucket for in-house order fulfilment by the broker’s dealing desk. The B-book forex brokers routinely use their in-house dealing desks to fulfil such orders, usually by taking a counterparty position to the trades of these clients.
In some instances, such brokers typically use what is known as a dark pool to mask the true identities of where the orders are being fulfilled. As two different traders send orders to the brokerage, the broker may decide to send the order to the dark pool, where another market maker picks up the trade and also drops off an order for execution in the dark pool. So both traders get their orders filled, and even though it may not show up as being executed at the dealing desk, the reality is that the order may have been filled in a dark pool without ever hitting the interbank market.
Differences between the A-book and B-book forex brokerage process
The difference between the A-book and B-book forex brokerage model is pretty simple. The A-book utilizes interbank market executions for clients’ orders, while the B-book process leads to internal order fulfilment without the usage of the interbank market.
A-book: you are trading with the banks and you have various options at transparent pricing. The broker provides the software and access to the interbank market.
B-book: you are trading with the supposed facilitator.
Closing note
The irony of the entire thing is that as a trader, you do not know what book your trade is on. If you are a consistently profitable trader, chances are that the forex broker would not take chances trying to trade against you. So your orders will more often than not, be shipped off to the interbank market. Imagine being in a situation where you consistently trade 5 lots on a commodity CFD and on each trade, you are banking thousands of dollars consistently.
The same situation occurs if you trade large volumes of say, 100 lots. A trade size of 100 lots is worth $10m trade value on the EURUSD, with a monetary value per pip of $1000. If you make 200 pips a month as total profit, you walk away with $200,000! No broker will take chances at opposing your trades.
But if you trade a small account and are not very consistent in profits, then you are more likely to be placed in the B-book liquidity bucket.
The dark underworld of forex trading. Brokers "A book" and "B book" explained.
I nvestors around the world haven't lost their appetite to trade in the post-financial-crisis era. But instead of playing the sharemarket, they fancy themselves as global currency traders. That has been propelling the growth of retail foreign exchange broking into a $380 billion industry, doubling since 2007.
Forex trading is not new, but the electronic platforms and extreme leverage – sometimes as high as 500 to one – can make the euro/US dollar pair as riveting as punting on a penny stock.
Yet despite its rising popularity, some insiders are adamant the world of forex broking has been, and remains, a shifty business. Technology may have lowered trading costs but it has allowed many unsavoury practices to take place on a larger scale.
The industry's dirtiest little secret is the extent of trading profits that brokers earn by directly taking on their muggiest punters. While some platforms act like true brokers others are more akin to bookmakers. They're understood to split their trades into what is known in the industry as "A-books" and "B-books". The "A-book" describe the trades the broker receives that are passed on to the inter-bank market with the broker clipping a ticket. The alternative "B-book" consists of trades that the broker has not passed on to the market but taken on themselves.
Why would brokers take on their clients? Because an estimated 95 per cent of retail traders are pre-programmed to fail, which means the brokers will ultimately win by taking them on rather than passing them off to the market. The existence of leverage amps up the movements in clients' positions, making it more likely that a stop-loss (mandatory sell order) will be triggered, speeding up the inevitable loss. And with brokers trading against their clients, they may possess the ability to tilt the game in their favour.
This includes inserting charges such as "cost of carry" that retail punters have little chance of reconciling. It has also been suggested the brokers can and do widen their bid-to-offer spreads momentarily to hit the stop-losses, forcing a loss on the client. The B-book does carry risks that a large savvy trader will bet big and win, which means the larger accounts are shifted to the A-book where the broker pays an inter-bank dealer a fee.
"B-booking" is a taboo subject and brokers are loath to admit they engage in betting against their clients. But insiders are convinced it is an integral part of several of the brokers' business models that required them to constantly market for new clients.
Cottage industry of trading analytic firms
There are reasons why foreign exchange markets are particularly well suited to the retail brokerage model. And much of the logic played out in reverse last thursday evening. The FX markets never sleep, which means the sudden "gapping" in pricing that can blow up brokers and their clients in other markets is rare.
That's why former axi trader executive and currency trading expert quinn perrot believes high leverage of up to 400 times in certain currency pairs is not as dangerous as it sounds. "the FX markets have high leverage because they trade 24 hours a day, which usually prevents the type of gaps seen between market close and market open on the stock market," he said.
But on thursday the swiss franc gapped like no currency in history. Perrott says this was because larger dealers had a view where the franc should trade without the peg. They instantaneously moved their market pricing to that point, blowing through stop-losses of broker clients. For a trader with 400 times leverage, a 30 per cent move resulted in a 1200 per cent loss.
Such enormous losses, which exceeded client balances by many multiples, meant the big problems lay with brokers. Some either had a blowout in bad debts or closed out their client's trades at different levels to where they could hedge the exposures. The losses effectively blew up the largest and third-largest retail forex broker and inflicted multimillion-dollar losses for other players.
Perrott says poor risk management "too often confined to lawyers and operations staff stuck away in a corner office" caused brokers to collapse. He stress-tested scenarios where the peg was lifted and rejects the assertion that the swiss move was a shock "black swan" event. "what was missing is they probably never sat down with their risk managers and brain-stormed the potential knock-on effects."
The melt-down of some offshore brokers has also raised the controversial issue of client segregation. Australia imposes tough restrictions on derivative brokers, but unlike other countries allows brokers to use client funds as collateral. On this issue, local and international brokers are at loggerheads.
The australia CFD forum, which consists of big global players like IG markets and CMC – lobbied governments to introduce segregation of client funds. Other brokers such as pepperstone say they support client segregation but take exception to foreign firms lobbying for rule changes on their home turf.
The risks of frozen client funds was apparent to local clients when global broker MF global collapsed in 2011. It ran into trouble taking highly leveraged "off-piste" bets on european interest rates. That and the swiss events are reminders of a lesson even the largest players often forget: the dangers of trading are beyond what meets the eye .
Original article by jonathan shapiro:
Top south african brokers for 2021
We found 11 online brokers that are appropriate for trading south african.
Best south african brokers guide
South africa financial markets
South africa's financial system has been a world financial center for many centuries.
South africa also known as SA or republiek van suid-afrika has a number of established reputable financial markets.
The main south african securities markets include the johannesburg stock exchange (JSE) which deals in officially listed stocks and shares,government issues, traded options, stock index options, currency options, foreign exchange, futures, metals, gold, silver, agricultural and other commodities.
Restructuring and deregulation has transformed the financial sector in south africa during the last 3 decades with important changes in the johannesburg stock exchange (JSE), insurance, banking, shipping, and commodity markets.
The south african reserve bank is responsible for issuing monetary policy in south africa.
Types of trading in south africa
We've collected thousands of datapoints and written a guide to help you find the best south african brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best south african brokers below. You can go straight to the broker list here.
Trading in south africa
When trading in south africa you will need to know what your options with your south africa trading broker are.
We list below the trading account types available in south africa. If you are looking for brokers in south africa that are suitable for trading in the forex, CFD's, indices and etfs, cryptocurrencies (availability subject to regulation) or commodity markets; this south africa broker guide will explain the things you should check and be aware of before you invest.
Forex trading in south africa
Forex trading is growing in popularity in south africa. The volume of forex traded in south africa has increased year on year over the last five years.
Across the world $5.1 trillion USD in volume is traded every single day. This is a huge amount in comparison with other financial market sectors.
Advances in online technology, higher internet coverage in south africa and increased competition among brokerages have made forex trading more accessible and reduced the costs of trading generally.
Is forex trading legal in south africa?
Their is a misconception that trading forex on the financial market in south africa is considered unsafe. This is not the case, forex trading in south africa is very active.
Trading in forex is allowed in south africa as to conduct business currency must be exchanged. Forex is an integral part of import and export and investing internationally. The important thing is that when trading forex you pick a safe and reputable broker that is regulated. South africa forex trading is not banned, their are many international online brokers offering favourable trading conditions.
Do forex traders pay tax in south africa?
Once a traders profits reach a level where the income on the forex trading can be taxed in south africa the trader should make sure all taxes owed for a financial year are paid. South africa taxes should be filed even if there were losses on the year. If trading losses cannot be claimed against personal income taxes. A trader should file them with the proper government agency in south africa. You should seek advice with a south africa tax professional to ensure they are abiding by all proper tax laws in south africa. In south africa islamic accounts do not have additional restrictions on trades.
Cryptocurrencies in south africa
Cryptocurrency markets in south africa are relatively new and their availability are subject to local financial regulation. Because cryptocurrency works on decentralised assets in south africa things like interest rate changes and political instability do not affect cryptocurrencies as much as the currency markets in south africa for example.
Due to a large young population in south africa with growing income levels and wide spread adaptation of online technology cryptocurrency trading volume is increasing greatly in south africa. $6 billion USD worth of bitcoin is traded daily around the world.
Commodity trading in south africa
In south africa commodity trading includes the trade in precious metals, energies and agricultural commodities.
Some commodities like metals are seeing exponential growth in south africa since 2002.
Fast growing countries like china and india have been growing rapidly over the last 3 decades. This has meant that countries like china and india have a vast requirement for many basic commodities and raw materials for their populations. Crops to feed people and metal to build infrastructure for example. This means countries like south africa are able to take advantage of this demand.
Islamic accounts in south africa
South africa brokers support islamic accounts or swap-free accounts. South africa islamic accounts have no rollover interest on overnight positions to comply the muslim faith. Traders of islamic faith are forbidden to pay interest. Brokers in south africa offer accounts that are suitable for islamic traders. These south africa brokers complies with sharia law.
Benefits of trading in south africa
South africa economy and population is growing. The middle class population in south africa is increasing which means a growing consumer base. Many business and financial opportunities exist in south africa. South africa has a young population educated in technology and the internet.
Concerns of trading in south africa
South africa digitisation of financial trading has made it easier to defraud unsuspecting investors across the internet. Make sure the broker you trade with is regulated and passes the checklist in this south africa guide. Educate yourself as much as possible open a demo account if necessary be you open a live trading account.
Learn about leverage when trading. South africa brokers offering high leverage trades in south africa can mean high profit margins. But this goes both was it can also mean huge losses. There are things like negative balance protection and stop loss accounts which some south africa brokers offer as a level of protection. You can learn more about further below on this guide.
Reputable south african brokers checklist
There are a number of important factors to consider when picking an online south african trading brokerage.
- Check your south african broker has a history of at least 2 years.
- Check your south african broker has a reasonable sized customer support of at least 15.
- Does the south african broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
- Check your south african broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
- Does your south african broker have an international presence in multiple countries. This includes local seminar presentations and training.
- Make sure your south african can hire people from various locations in the world who can better communicate in your local language.
It is not essential that your brokerage is local but they must have regulation from a tier 1 reputable country. In fact the brokers international regulation could be more reputable than your local region.
When deciding to trade and find a suitable south african broker if you wish your broker to be 100% local check they are governed and regulated by the below.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
Our brokerage comparison table below allows you to compare the below features for brokers offering south african brokers.
We compare these features to make it easier for you to make a more informed choice.
- Minimum deposit to open an account.
- Available funding methods for the below south african brokers.
- What you are able to trade with each brokerage.
- Trading platforms offered by these brokers.
- Spread type (if applicable) for each brokerage.
- Customer support levels offered.
- We show if each brokerage offers micro, standard, VIP and islamic accounts.
Top 15 south african brokers of 2021 compared
Here are the top south african brokers (ZA).
Compare south african brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are south african brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more south african brokers that accept south african clients
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A-book B-book and hybrid models
Forex OTC market differs from investing in many other financial instruments like for example equities or futures trading because it is possible for the brokerage houses to take the other side of customers’ trades (so trade against them).
This is where the distinction between the A and B-book brokers comes in together with many hybrid-combinations in between.
The A-book model
Brokers operating in this model are regarded as ECN/STP (electronic-communication-network/ straight-through-processing) brokers also known as “no dealing desk” brokerages. Such brokers are intermediaries that send all of their clients’ trades directly to liquidity providers or multilateral trading facilities.
These forex brokers make the profit by increasing the spread or by charging their customers commissions. In this situation, no conflict of interest does exist because brokerages earn the same amount of money regardless of whether the trader is profitable or not.
The B-book model
B-book brokers, on the other hand, keep their clients’ orders internally. A brokerage house, in this case, takes the other side of a trade therefore its profits very often equal to clients’ losses and the other way around. Due to the fact that the great majority of clients lose money in a long-distance run, keeping trades on their own books can be very profitable (if the trading flow stays within client- retail broker scope only with no trades send to lps it is considered as B-book (see image below).Since there is an obvious conflict of interest many clients are afraid that brokers may use unfair practices to ensure they remain profitable.
Nevertheless, this model is considered as a very risky and challenging in terms of risk management.
This is the reason why many market maker forex brokers use a hybrid model that involves hedging with liquidity providers as well as placing trades in a B-book based on traders’ profiles.
The hybrid model
The popularity of the hybrid model is justified as it allows brokerages to take advantage of the two above-mentioned models. The entire tactic rests upon identifying chosen group of traders who are profitable and send their trades to the real market, while keeping the remaining part in-house.
Clients who are likely to be kept on the book have usually few common characteristics.
First of all they are keen on significant leverage, use their free margin to the very extent as well as deposit lower amounts of money of their trading accounts (statistics clearly show that lower deposit accounts are overall less successful).
Many brokerages operate in a hybrid model, and there is nothing inherently bad in such a model. This model runs very responsibly and with appropriate attitude toward risk-management can be very successful.
While benefiting from both types of models such brokerage houses can offer their clients competitive markups and commissions whereas the hybrid model is also better perceived by clients.
The dark underworld of forex trading. Brokers "A book" and "B book" explained.
I nvestors around the world haven't lost their appetite to trade in the post-financial-crisis era. But instead of playing the sharemarket, they fancy themselves as global currency traders. That has been propelling the growth of retail foreign exchange broking into a $380 billion industry, doubling since 2007.
Forex trading is not new, but the electronic platforms and extreme leverage – sometimes as high as 500 to one – can make the euro/US dollar pair as riveting as punting on a penny stock.
Yet despite its rising popularity, some insiders are adamant the world of forex broking has been, and remains, a shifty business. Technology may have lowered trading costs but it has allowed many unsavoury practices to take place on a larger scale.
The industry's dirtiest little secret is the extent of trading profits that brokers earn by directly taking on their muggiest punters. While some platforms act like true brokers others are more akin to bookmakers. They're understood to split their trades into what is known in the industry as "A-books" and "B-books". The "A-book" describe the trades the broker receives that are passed on to the inter-bank market with the broker clipping a ticket. The alternative "B-book" consists of trades that the broker has not passed on to the market but taken on themselves.
Why would brokers take on their clients? Because an estimated 95 per cent of retail traders are pre-programmed to fail, which means the brokers will ultimately win by taking them on rather than passing them off to the market. The existence of leverage amps up the movements in clients' positions, making it more likely that a stop-loss (mandatory sell order) will be triggered, speeding up the inevitable loss. And with brokers trading against their clients, they may possess the ability to tilt the game in their favour.
This includes inserting charges such as "cost of carry" that retail punters have little chance of reconciling. It has also been suggested the brokers can and do widen their bid-to-offer spreads momentarily to hit the stop-losses, forcing a loss on the client. The B-book does carry risks that a large savvy trader will bet big and win, which means the larger accounts are shifted to the A-book where the broker pays an inter-bank dealer a fee.
"B-booking" is a taboo subject and brokers are loath to admit they engage in betting against their clients. But insiders are convinced it is an integral part of several of the brokers' business models that required them to constantly market for new clients.
Cottage industry of trading analytic firms
There are reasons why foreign exchange markets are particularly well suited to the retail brokerage model. And much of the logic played out in reverse last thursday evening. The FX markets never sleep, which means the sudden "gapping" in pricing that can blow up brokers and their clients in other markets is rare.
That's why former axi trader executive and currency trading expert quinn perrot believes high leverage of up to 400 times in certain currency pairs is not as dangerous as it sounds. "the FX markets have high leverage because they trade 24 hours a day, which usually prevents the type of gaps seen between market close and market open on the stock market," he said.
But on thursday the swiss franc gapped like no currency in history. Perrott says this was because larger dealers had a view where the franc should trade without the peg. They instantaneously moved their market pricing to that point, blowing through stop-losses of broker clients. For a trader with 400 times leverage, a 30 per cent move resulted in a 1200 per cent loss.
Such enormous losses, which exceeded client balances by many multiples, meant the big problems lay with brokers. Some either had a blowout in bad debts or closed out their client's trades at different levels to where they could hedge the exposures. The losses effectively blew up the largest and third-largest retail forex broker and inflicted multimillion-dollar losses for other players.
Perrott says poor risk management "too often confined to lawyers and operations staff stuck away in a corner office" caused brokers to collapse. He stress-tested scenarios where the peg was lifted and rejects the assertion that the swiss move was a shock "black swan" event. "what was missing is they probably never sat down with their risk managers and brain-stormed the potential knock-on effects."
The melt-down of some offshore brokers has also raised the controversial issue of client segregation. Australia imposes tough restrictions on derivative brokers, but unlike other countries allows brokers to use client funds as collateral. On this issue, local and international brokers are at loggerheads.
The australia CFD forum, which consists of big global players like IG markets and CMC – lobbied governments to introduce segregation of client funds. Other brokers such as pepperstone say they support client segregation but take exception to foreign firms lobbying for rule changes on their home turf.
The risks of frozen client funds was apparent to local clients when global broker MF global collapsed in 2011. It ran into trouble taking highly leveraged "off-piste" bets on european interest rates. That and the swiss events are reminders of a lesson even the largest players often forget: the dangers of trading are beyond what meets the eye .
Original article by jonathan shapiro:
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Customs brokers
2021 annual permit user fees
The 2021 annual permit user fees are due by january 29, 2021. Effective october 1, 2020 the COBRA fee for permits (USER FEE) is $150.33 (was $147.89). The user fee amount owed for each active permit is $150.33. Fees must be submitted to the permitting port for district permits and to the licensing port for national permits. Please refer to the published federal register notice containing the due date.
2021 triennial status report and fee
CBP will begin accepting submissions of the triennial status report december 15, 2020. The status report and fee is due no later than february 28, 2021.
Save time – submit online
Online, automated triennial status report and fee payment
On december 15, 2020, revenue modernization’s electronic payment options project (epo/ecbp), in conjunction with office of trade’s broker management branch, will launch its online portal for the submission of the 2021 triennial status report (TSR).
All licensed customs brokers are encouraged to visit e.Cbp.Dhs.Gov to submit their required TSR. Login using authentication from login.Gov and navigate through the self-paced questions to fulfill the TSR requirement. As the user navigates through the few short screens to complete the filing process, when required they will be prompted to upload employee lists, identify the brokerage company they work for and if that company will pay the fee on their behalf. Brokerage firms appreciate the ability to pay the fee for all their license holder employees at one time. Improved payment receipting and payment notification ensures that the brokerage and the individual license holder have plenty of documentation of compliance
For more information see faqs and TRS system quick reference guides at: https://www.Cbp.Gov/trade/ecbp
Save time – submit online – e.Cbp.Dhs.Gov
Customs brokers license exam information
The bi-annual customs broker license exam (CBLE) was administered on october 8, 2020 resulting in a 37% pass rate prior to appeal decisions. The electronic exam was held nationwide at over 120 testing locations.
Broker exam questions
CBP welcomes the submittal of new questions for future broker exams. Please submit your questions to brokermanagement@cbp.Dhs.Gov with "future exam questions" in the subject line. Select HERE for the guidelines on writing new questions
Modernization of the customs broker regulations
U.S. Customs and border protection announces the publication of the notice of proposed rulemaking (NPRM) for the long awaited update to 19 CFR 111. The NPRM for modernization of the customs broker regulations (85 FR 34836) and elimination of customs broker district permit fee (85 FR 34549) published june 5, 2020. The comment period ended august 4, 2020.
It is suspected this will address many of the commercial customs operations advisory committee's (COAC) recommendations. Some are listed below:
- Replace the “district permit” and “national permit” with “the permit” to better reflect the transition to a single permit framework that operates at the national level within the customs territory of the united states.
- Require brokers to have a single permit that allows them to have sufficient authority to conduct customs business at the national level within the customs territory of the united states. This will also eliminate the need for brokers to request permit waivers.
- Prepare a transition plan to a single permit.
- Require brokers to provide satisfactory evidence of how the entity intends to exercise responsible supervision and control.
- Make enhancement to ACE for broker reporting and streamline broker reporting.
- Update the factors related to responsible supervision and control related to the transition of managing under the national permit that would replace the district permit.
- Require that the power of attorney come directly from the importer to the broker.
- Remove specific dollar fee amounts and reference a single source of location allowing greater flexibility.
- Expand broker payment options to include electronic payment of fees.
- Provide for reasonable steps to include the review of publicly available, open source information to authenticate the identity of the broker.
- Require that customs business may be conducted only within the customs territory of the united states.
- Provide for the storage of electronic customs records within the customs territory of the united states
FEE UPDATED CLAENDAR YEAR 2020
Effective october 1, 2020 the COBRA fee for permits (USER FEE) is $150.33 (was $147.89).
Effective january 1, 2019, the broker application finger printing fee is $11.25 (was $10.00).
INFORMATION FOR CUSTOMS BROKERS
so, let's see, what we have: A market maker at a book brokers list
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- Customs brokers
- 2021 annual permit user fees
- 2021 triennial status report and fee
- Customs brokers license exam information
- Modernization of the customs broker regulations
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