Sun, December 04, 2022

Broker News

Broker News

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 Italian regulators added four sites that offer high-risk financial instruments such as forex and contracts …

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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 rose 18% year-over-year (YoY) to $220.1 million, while the net income increased by 22.7% in …

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Broker News

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 and 5 mobile trading apps from its App Store without warning. The suspension was due …

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Broker News

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 a new office in Cyprus just over one month after the company’s Cypriot subsidiary, Equiti …

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Broker News

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 company’s weekly FX NDF volume between October 17-21 was also historic, measuring in at $1.175 …

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Broker News

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 of which have also lost their CIF licenses. These businesses include iTrader, Daweda Exchange, and …

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Broker News

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 Activities and the Regulated Markets Law of 2017. CySEC fined the brokerage for failing to …

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Broker News

FxPro UK Reports 48% Revenue Drop in 2021

FxPro UK Limited, the FCA-regulated subsidiary of the Cyprus-based group, published its financials for the fiscal year 2021, ending on December 31. The report showed that the broker’s revenue decreased 48 percent to £900,365 from more than £1.7 million in the previous fiscal year. With only £36,440 of other income, compared to the previous year’s …

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Broker News

ThinkMarkets UK Records Profit Jump Despite 38% Revenue Dip

Turnover for ThinkMarkets, decreased 38% to £2.73 million this year from last year’s £4.38 million. Think Markets is a UK business of Melbourne-based broker. Although its executive expenses decreased, the company’s operating profit for 2021 was still higher than last year’s £206,556 at £250,112. With other interests and income amounting to £68,000 (unchanged from the …

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Broker News

Trade.com Gets License in Dubai, Eyes for US and Italy

Trade.com, a fast-growing trading brand in Trade Capital Holding’s retail markets, has established a representative office in Dubai and obtained a new license from the Government of Dubai. Roei Gavish, the Group CEO of Trade Capital Holding, said that their new Dubai office would help them develop business partnerships and collaborations in MENA and APAC. …

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Broker News

eToro Launches Australian Stocks Portfolio

eToro announced that it was expanding its services to include an Australian stock portfolio. It will expose users to some of the best-performing stocks in the Australian financial markets. eToro hopes this will help its clients better understand and invest in the Australian economy. According to Josh Gilbert, a Market Analyst at eToro, many investors …

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Broker News

CMC Markets Renews Blues Sponsorship for 3 More Years

CMC Markets, a London-based financial services firm, has extended its sponsorship agreement with New Zealand’s professional rugby team, the Blues, for another three years. The two companies initially agreed to a partnership deal in February 2021 for two seasons. The three-year renewal was announced just as the existing arrangement ended. CMC Markets will be Blues’ …

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Broker News

Bricknode Obtains SEK 5 million Loan to Open a Brokerage.

Bricknode has successfully secured a SEK 5 million loan from a leading financial institution to establish a new brokerage service. Bricknode is a SaaS company in the financial services industry, and the funding will allow them to provide an even better experience for their clients.  They’re excited to get started on this new venture. On …

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Broker News

Global Brokerage: 22% Net Revenue Rise to $37.8M in Q2-2022

Global Brokerage Inc., which owns FXCM, an online forex trading and contract for difference (CFD) broker, saw a 21.6% growth in its net revenue during the second quarter of 2022. Net revenue in the quarter was $37.83 million, significantly increasing from $31.1 million during the first quarter. Global Brokerage announced this on Friday in its …

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