London Capital Group Limited is a victim of the troubled FlowBank, but its board is working to see profitability in 2024. The company reported a notable revenue increase in 2022, but the net loss escalated by 30%. LCG Net Loss Deepens in 2022 The FlowBank-owned London Capital Group Limited undertakes LCG’s UK operations. However, …
LCG UK Boosts Revenue by 25% while Net Loss Shoots by 30% in 2022 Read More »
The UK-registered company LandFX has published its 2023 financial report, showing a sharp decline in turnover of slightly below £600K, about 27% lower than 2022. Even so, the FCA-licensed broker’s operating and net profits rose. LandFX Lower Turnover and Higher Profits in 2023 According to the company’s report in the UK’s Companies House, turnover …
LandFX Net Profit Upward Shift Despite the Turnover Downturn Read More »
After the approval by the Financial Superintendence of Colombia (SFC), the 2006-founded AvaTrade operates 20 offices globally, serving over 400,000 traders. SFC has authorized the company to expand its operations to Latin America. Global Operations Expanded AvaTrade, a broker offering diverse financial products and services, aims to make them available to Colombian traders. The …
AvatTrade Steps into the Competitive Colombia Market Upon SFC Approval Read More »
On Monday, 19th August 2024, the London-listed Israeli brokerPlus500 (LON: PLUS) announced extending its share buyback program. The new plan follows last February’s $100 million initiation but shares repurchasing dates back to 2017 The company also distributed $75.5 million in shareholders’ dividends. The returns resulted from its cash-generative business model and robust financial …
Plus500 Extends its Share BuyBack Plan with $110 Million Read More »
Axi, a global Forex and CFD broker, introduced its first player activation movement (Axi Penalty Challenge) with Girona FC in the spring. The campaign targeted the LATAM audience and featured players Paulo Gazzaniga, Savio, and Yan Couto. It aimed to demonstrate trading knowledge and football skills. The broker also partners with other FCs, including …
Webull established its 24-hour US trading after launching its services in 15 regions globally. The overnight trading feature allows investors access to over 15,000 ETFs, options, and stocks 24/7. An Overnight Trading Session Added The new feature offers a low commission rate and free access to real-time market data for US traders. Also, it provides …
Webull Launches a 24-Hour US Trading Feature as the First Thailand Brokerage Read More »
In 2023, ParFX’s revenues declined by 14% to $4.8 million, while the operating profit dropped to $1.2 million. That resulted from the company’s declined client base. ParFX Revenue and Net Profit Drop in 2023 ParFX’s 2023 report reveals that the platform’s revenue dropped by 14% to $4.8 million from $5.6 million the previous year. Also, …
ParFX 84% Annual Net Profit Drop as Custom Base Declines Read More »
The EU-monitored entity IC Markets Ltd allegedly onboarded traders, offering 1000:1 leverage under offshore-regulated organizations. However, the entity has refuted CySEC’s allegations, swearing to appeal. Leverage Rules Violation According to the Cyprus Securities and Exchange Commission (CySEC) announcement on Friday, July 19, 2024, IC Markets (EU) Ltd onboarded customers under an offshore organization, offering them …
IC Markets €200k Fine for 1000:1 Leverage Allegations by CySEC Read More »
OANDA has promoted James Abbott to the CRO (Chief Revenue Officer) after six years of service since 2018. Abbott is an experienced retail trader for over a decade, and this is his fourth position in the company. 6 Years of Progress: From Relation Manager to the CRO In November 2018, James Abbott joined the …
OANDA Appoints James Abbott as the London Office CRO Read More »
According to a notice on the entity’s website, it has become impossible for LCG Bahamas to operate after the liquidators’ appointment through the agreement between FlowBank SA and LCG Capital Markets Limited. The Disarrays Following FlowBank’s Bankruptcy Charles-Henri Sabet —a former LCG CEO—founded FlowBank-owned LCG. The entity was previously part of the London Group Holdings, …
LCG Bahamas Operation Termination Following FlowBank Bankruptcy Read More »
The Saxo Bank platform monthly volume for June stood at 78.1 billion, while the bank’s daily average volume was $3.9. The platform’s monthly trading volume lowered by 4.2%. More Downward Shifting for the Saxo Bank Forex Demand Despite June’s lowest monthly forex volume, the daily average rose to $3.9 billion from $3.5 billion in …
The Financial Conduct Authority (FCA) in the UK has restricted London Capital Group Ltd (LCG) ‘s onboarding of new clients. This action was taken in response to the Swiss regulator’s initiation of bankruptcy proceedings against FlowBank, LCG’s parent company. LCG’s Measures Following FlowBank’s Bankruptcy LCG has announced that they have employed an independent firm to …
FCA Places Limitations on LCG Amid FlowBank Bankruptcy Read More »
Recently, Capital.com initiated a partnership with Trulioo. Since then, the platform has progressively extended its services to 17 countries across the Asian Pacific Region, Latin America, and EMEA( Europe, Middle East, and Africa). Capital.com’s Enhanced Client Onboarding Strategy At the beginning of 2023, the two companies partnered to promote Capita.com’s client onboarding processes worldwide. Here’s …
Trulioo Announces Strategic Partnership with Capital.com Read More »
London-based broker Zenfinex, now operating as Taurex, has exposed its fiscal year 2023 financial results, which paint a complex picture of its economic situation. Zenfinex’s Fiscal Overview Zenfinex Limited’s revenue hit £848,306, a significant rise from the previous year. However, direct costs reached £196,627, hinting at potential issues. The company reported a gross profit of …
Zenfinex Reports Revenue Surge but Faces Operating Losses Read More »
UP Fintech Holding Limited announced its unaudited Q1 2024 financials, ending March 31. CEO Wu Tianhua revealed a 19% year-over-year revenue rise, reaching $78.9 million. Net income attributable to UP Fintech’s ordinary shareholders rose to $12.3 million, showcasing a solid performance in Q1. Non-GAAP net income hit $14.7 million, reflecting financial strength and efficiency. UP …
UP Fintech’s Q1 2024 Revenue Up by 19%, Profits Double Read More »
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