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SEC Seizes $4.3 Million FX Ponzi Schemes
The Securities and Exchange Commission (SEC) recently filed charges against John Fernandez, 26 years old, and his two companies – Avail Progression and Elite Generators – for functioning with unregistered and fraudulent forex trading plans. Last Friday, the official charges
Tavira Securities Closes FY22 with 48% Jump in Revenue
Tavira Securities Limited had a fantastic financial year end in 2022, raking in a whopping £24 million – 48% higher than the previous fiscal’s revenue. The traditional brokerage business may have declined by 7% but Tavira made up for it
Saxo Bank’s Demand for FX Trading Rises by 7.8% in November
Saxo Bank published its trading metrics for November and reported a surge in forex trading activities. Saxo Bank reported a monthly trading volume of $138 billion, which was 7.8% higher than the previous month. Saxo Bank is a brokerage headquartered
Consob Blocks 4 More Illegal Trading Platforms
Italy’s financial market watchdog, Consob, has blocklisted four more websites for operating illegally in the country. The number of fraudulent blocklisted platforms reduced to 805 is the ongoing effort by authorities to reduce illegal activity within this industry. The
Futu’s Net Profit Rises 23%, Despite Drop in Trading Vol
Futu, an online brokerage that provides Chinese investors with access to the Hong Kong and US stock markets, has released its unaudited third-quarter financial results. The company reports a 12.4% increase in revenue, reaching $247.9 million. The company’s gross profit
MetaQuotes Targets Mobile Traders with New MT5 Web
MetaQuotes, the Forex trading technology provider, announced a new MetaTrader 5 (MT5) web terminal Monday for forex and a contract for difference trading. The launch comes a month after the incident where Apple pulled down the company’s popular MetaTrader 4
Equiti Group Opens Cyprus Office after Getting CySEC License
On Monday, Equiti Group opened a new office in Limassol, Cyrus. Equity Group provides multi-asset financial products and an online trading platform technology. Equiti operates in the UK, Europe, the Middle East, Africa, Asia Pacific, and America. Equiti Group opened
24 Exchange Records High FX NDF Trade Volumes in October
In October 2022, 24 Exchange, a multi-asset trading platform in Bamuda saw record numbers of forex non-deliverable forwards (NDFs) traded daily and weekly. 24 Exchange reached a record high for daily forex NDF trade volume at $1.476 billion. The
CySEC Revokes ICF Membership of Four Companies
The CySEC withdrew the Investors Compensation Fund membership of four companies (ICF). The four companies are; Sharelink Securities & Financial Services, MPS Marketplace Securities, Woodbrook Group, and Finteractive. The Cypriot regulator recently removed the ICF membership of multiple companies, some
CySEC Fines GCB Ltd €120k for Possible License Offense
On Friday, CySEC announced an agreement of €120,000 with General Capital Brokers Limited, a Cyprus Investment Firm. The Cyprus financial market regulator said the settlement would cover the broker’s possible breach of several laws, including the country’s investment services and
GAIN Capital Recovers from Multi-Year Lows | Wibest Broker
The largest forex broker in the US, GAIN Capital Holdings, Inc, gained aggregated trading volumes for the second consecutive time. Despite the recovery from a long-bearing low, volumes still failed to meet its 2019 equivalent this January. GAIN Capital’s client
Stake Expands Services into the UK | Wibest Broker
The future of brokerage is one with fast, simple, and direct access to the US market with no surprises. Founder and CEO of the digital brokerage platform Stake Matt Leibowitz just announced the company’s expansion into the UK. Leibowitz believes
AETOS Maintains Partnership with Sydney FC
For the third consecutive year, Australian forex broker AETOS Capital Group announced a renewal on its partnership with Sydney FC. The agreement allows the broker to remain as the football club’s Principal Partner. The broker’s logo will be on the
RoboMarkets Launches 500 More CFD Options
European broker RoboMarkets just launched more than 500 contracts for differences (CFDs) on its European stocks on its R Trader platform. R Trader is the firm’s multi-trading platform that now offers stocks from 11 European countries that weren’t available beforehand.
Guotai Junan on Plans to Raise $480 Million
One of the largest investment banks and securities in China just announced its intentions to raise approximately HK$3.729 billion. Guotai Junan International Holdings Limited offered one out of every three existing shares held on February 7, 2020. The company, part
SGX Allows Ayondo to Extend Appeal Deadline
The Singapore Exchange (SGX) just accepted Catalist-listed Ayondo’s application to extend its deadline to resume trading. According to SGX, the firm had to submit the proposal with a plea to resume operations within 12 months. Ayondo was suspended from trading
Robinhood Clients Sidelined in a Historical Dow Rally
Millennial-focused trading platform Robinhood just suffered one of its worst outages when Dow had its biggest point gain since 2009. Clients couldn’t log in while some couldn’t access certain volumes all throughout the close. Many of its 10 million users
IG US Increases Market Cap Over Successful Customer Deposits
Europe’s largest online trading platform IG US increased its market share this week, following $20.4 million earned in customer deposits. The January figure was 25% higher against the previous month, which is also about six times bigger than in mid-2019.
Plus500 Co-founder Buys Significant Company Shares
Following another Plus500 co-founder, vice president of engineering Omer Elazari purchased close to £700,000 worth of company shares. Meanwhile, the online contracts for difference (CFD) provider is continuing to execute its share buyback program. Elazari bought £659,890 worth of the
ASIC Recommends Taking Precautions Against COVID-19
Increasing volatility in the financial markets worried the Australian Securities and Investments Commission (ASIC). It reminded issuers to remain vigilant. The Australian regulator sought to increase their number of measures in place against higher than normal volumes in trade. To
