Fri, September 29, 2023

South Africa

Broker News

CAPEX.com Aquires WiredMarket’s Client’s in Greece

CAPEX.com, a retail forex and contracts for differences (CFDs) broker, has broadened its global reach by acquiring the WiredMarket’s client portfolio, a firm with a significant base in Greece. CAPEX.com’s First M&A Deal On Thursday, the company announced the acquisition, marking their first venture into mergers and acquisitions since its establishment as CFD Global.com in …

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Broker News

FxPro Introduces Crypto CFDs to cTrader Platform.

On Friday, FxPro, an online forex broker, announced that it had included cryptocurrency trading in its cTrader accounts. The feature enables traders to access cTrader accounts and create new ones under their profiles. BTC, ETH, and XRP Available¬† FxPro now supports Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) on cTrader, along with 28 cryptocurrency contracts …

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Broker News

Admirals Ends Estonian License Amid Global Consolidation

During the first half of next year, Admirals Group AS, the parent company of FX/CFDs brokerage Admirals, will merge with its Estonian subsidiary, Admirals Markets AS. To accomplish this, the firm will withdraw the subsidiary’s investment company license, which may happen by August of this year. On Thursday, the company based in Estonia announced its …

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Broker News

Exness Hits $3 Trillion in February Trading Volume.

In February, Exness achieved a remarkable milestone by attaining an all-time high trading volume of over $3 trillion and surpassing 500K active customers! This February, the broker shattered its previous trading record of $2.82 trillion set in January with a remarkable monthly figure of $4 billion! Compared to last year’s figures, this was double what …

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Broker News

Exness Records New High of $2.82T January Trading Volume

Exness recorded a new high in trading volume for a retail brokerage platform in January. The published figures show that the broker recorded an overall trading volume of $2.82 trillion.¬† The new record exceeded Exness’s prior $2.81 trillion set in August and was about 12% greater than December’s reported figure. On a year-over-year basis, there …

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cryptocurrency

Cryptocurrency Versus The Nigerian Central Bank

Cryptocurrency Versus The Nigerian Central Bank The Central Bank of Nigeria (CBN) has adopted a cautious and unfavorable stance toward cryptocurrencies in Nigeria. The CBN warned banks and other financial institutions from trading in cryptocurrencies in a January 2017 statement noting the possible hazards to customers and the financial system. The bank also cautioned that …

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Broker News

Admirals Acquires Kenyan License, Eyes Seychelles Takeover

On Thursday, Kenya’s Capital Markets Authority (CMA) granted a license to Estonia-based Admirals – a non-dealing online forex trading broker. It is an incredible leap forward in global financial technology and marks yet another success for Kenya! Admirals is confident that gaining this license will pave the way for further expansion in Africa, granting access …

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Weekly Market Overview: Forex, Stocks, Crypto, Commodities

Cryptos Are Considered As Financial Products in South Africa

According to experts, a regulatory framework for digital assets should be published in the next stage. The South African regulatory body sees cryptocurrencies as a digital representation of value. The rules provide provisions for South African-based Defi firms and cryptocurrency exchanges. The Financial Sector Conduct Authority (FSCA) of South Africa has declared that cryptocurrencies are …

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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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After The Ukraine Crisis, China Reaches Out To Its Asia

After the Ukraine Crisis, China Reaches out To Its Neighbors

The Ukraine issue is straining China’s ties with the US and the rest of the West; hence, Beijing has turned its attention to mending wounds with its neighbors. According to analysts, China’s diplomatic frenzy in the last two weeks demonstrates the importance of its neighbors in Beijing’s relationship hierarchy. Following a hectic tour of India, …

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The Rand Of South Africa Weakening As The Dollar Strengthens

The Rand of South Africa Weakening as The Dollar Strengthens

The rand fell off a five-month high versus the dollar early Monday as the greenback rallied;¬† China’s reimposition of a lockdown impacted risk-taking in Shanghai. The rand (USDZAR) was trading at roughly 14.6100 per dollar at 0605 GMT, down 0.43 percent from its closing on Friday, when it hit 14.4738, its highest level since Oct. …

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