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 revealed that Fernandez and his businesses had allegedly defrauded more than 100 investors out of …
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 with 231% more earnings from its CFDs. Tavira also made a 145% increase in custody …
Tavira Securities Closes FY22 with 48% Jump in Revenue Read More »
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 in Denmark. Forex trading daily average monthly volume was $6.3 billion compared to $6.1 billion …
Saxo Bank’s Demand for FX Trading Rises by 7.8% in November Read More »
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 …
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 …
Futu’s Net Profit Rises 23%, Despite Drop in Trading Vol Read More »
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 …
MetaQuotes Targets Mobile Traders with New MT5 Web Read More »
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 …
Equiti Group Opens Cyprus Office after Getting CySEC License Read More »
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 …
24 Exchange Records High FX NDF Trade Volumes in October Read More »
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 …
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 …
CySEC Fines GCB Ltd €120k for Possible License Offense Read More »
Tickmill UK Limited, a subsidiary of the wider Tickmill Group, reported an 86% boost in pre-tax profits for the year 2021, which ended on December 31. The absolute amount was £1.48 million as opposed to £796,121 in the prior year. The net income at the end of the year was £1.26 million, up from £677,290 …
Tickmill UK Sees 86% Profit Jump, despite Revenue Decline. Read More »
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 …
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 …
ThinkMarkets UK Records Profit Jump Despite 38% Revenue Dip Read More »
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. …
Trade.com Gets License in Dubai, Eyes for US and Italy Read More »
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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