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ATFX, a leading global CFD broker, proudly announces the launch of MetaTrader 5 (MT5) platform. This milestone not only underscores ATFX's unwavering commitment to continually upgrading its customer service quality but also marks a significant leap forward in the brand’s mission to create an exceptional trading environment for investors worldwide.Over the years, ATFX has earned high recognition and widespread acclaim from clients globally, setting industry benchmarks with its superior product range, meticulous customer service, optimized user experience, and relentless platform innovation driven by intelligent technology. Now, MT5, as the outstanding successor and innovator to MT4, brings with it deep performance optimization and comprehensive technical upgrades, promising to open a new chapter in trading for investors.With MT5, users can enjoy intelligent trading systems, advanced charts and technical analysis, various order types and execution modes, and robust data protection features, ensuring a faster, stronger, and more convenient service experience.Moving forward, ATFX will continue to focus on the needs of global investors, consistently setting new industry standards. In the ever-evolving financial sector, ATFX ensures that each technological advancement precisely meets the traders’ needs, collectively charting the grand blueprint for the future financial landscape.About ATFXATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities, including the UK's FCA, Cypriot CySEC, UAE's SCA, Australian ASIC, and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides exceptional trading experiences to clients worldwide.For further information on ATFX, please visit ATFX website https://www.atfx.com.This article was written by FM Contributors at www.financemagnates.com.
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The UKbranch of foreign exchange (FX) and fixed-income software developer Smart TradeTechnologies has released its fiscal year 2024 results, showing growth inturnover, revenue, and profits. Operating profits reached £2.2 million,doubling from the previous year's reported levels.Smart Trade TechnologiesReports Strong Finish to FY24In thelatest report filed with the UK's Companies House, Smart Trade Technologies UKLimited attributes the strong results for fiscal year 2024 (FY24) ending March31 to increased activity and sales momentum in Europe and the UK.The reportreveals that the company's turnover stood at nearly £18 million, growing 16%from £15.5 million. With sales costs remaining steady at under £14 million,this translated into an increase in gross and operating profit as mentionedearlier.The finalnet profit was £2.2 million, rising 69% from £1.3 million reported in fiscalyear 2023. This marks another year of net profit and a 1000% jump from twoyears ago when net profit was just £200,000.Thecompany's assets also increased, growing from £1.9 million to £2.9 million.Recently,SmartTrade Technologies successfully expanded its Private Cloud offering toZürich, Switzerland, responding to growing client demand for enhanced hostingand disaster recovery services in mainland Europe. Thisexpansion, achieved in collaboration with Equinix, strengthens SmartTrade'sglobal infrastructure, adding to existing sites in London, New York, and Tokyo,and further demonstrates the company's commitment to providing resilient andgeographically diverse solutions for critical trading and payments systems.Other Financial ResultsSeveralother firms have also recently presented their FY24 reports. One of them wasBeeks Financial Cloud Group plc (AIM: BKS), which announced preliminaryfinancial results for the fiscal year ending June 30, 2024, noting revenuegrowth and an increase in recurring revenue.The cloudcomputing and connectivity services provider for financial markets stated thatits FY24 revenue is expected to be approximately 27% higher than the previousyear. The company's Annualized Committed Monthly Recurring Revenue (ACMRR)reached £28.0 million, an 18% increase from £23.8 million reported at the endof the previous fiscal year.Meanwhile,Japan's Monex Group increased its net profit by nearly 850% to 31.5 billion JPYin fiscal year 2024 compared to the previous period. At the same time,operating revenue grew by 20% to 66.8 billion JPY.This article was written by Damian Chmiel at www.financemagnates.com.
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Plus500, the Israeli retail broker listed in London (LON: PLUS), today (Monday) announced the extension of its ongoing share buyback programme with the allocation of an additional $110 million, which comprises an interim buyback programme of $35.4 million and a special buyback programme of $74.6 million.The latest buyback programme follows the broker’s initiation of a $100 million programme last February. The company began repurchasing its shares in 2017.Further, the broker decided to distribute another $75.5 million among its shareholders as dividends. The company highlighted its “robust financial position [and] cash-generative business model” as the reason behind the decision for shareholder returns. Its cash balance also surpassed $1 billion, compared to $906.7 million at the end of 2023.Returning Value to ShareholdersThe London-listed broker emphasised that it has distributed $2.3 billion in shareholder returns (including the latest ones), in the form of dividends and buyback programmes, since its public market debut in 2013.“Plus500 has delivered strategic, operational, and financial progress during H1 2024, and I am proud of what we have achieved,” said David Zruia, Chief Executive Officer of Plus500.Indeed, the extension of the buyback programme and the dividend announcement followed the first six months' performance, which generated $398.2 million, an 8 percent year-over-year increase. The company's quarterly performance also remained impressive despite the impact of the UEFA EURO 2024 Football Championship on retail trading towards the end of Q2 2024.Although the company benefited from higher interest rates, its trading income in the six months also jumped to $369.1 million from $346.2 million in the corresponding period of the previous year. Now, the company is anticipating its FY24 results to beat the current market expectations.Strengthening MetricsIn addition to the buybacks and dividends, the broker revealed that it added 56,759 new customers between January and June, a 13 percent annual increase. However, the number of active customers remained almost flat at 175,909.The average revenue per user for the six months was $2,264, an 8 percent annual increase, while this figure for the second quarter jumped 13 percent annually to $1,475. It ended 2023 with a per client revenue of $3,115. Meanwhile, the average customer acquisition cost in the first half of the ongoing year at $1,489 remains unchanged from the corresponding period of the previous year.“We continue to be guided by our strategic ambitions—to expand into new markets, develop new products, and deepen engagement with our customers,” Zruia added.“We delivered growth in revenue and EBITDA, continued to expand our geographic footprint, developed innovative new products, and, as a result, saw an increase in new and active customer numbers year-on-year. Plus500 remains strategically well-positioned to capitalise on both short-term market conditions and the medium-term growth trends in our end markets.”This article was written by Arnab Shome at www.financemagnates.com.
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Coinbase, KuCoin, Gate.io, and several other small and large cryptocurrency brands are now attempting to obtain business licences in Turkey, according to an updated list published by the Capital Markets Board of Türkiye.Top Companies Seek Turkish LicenceFirst published on August 9, the list included 47 names of cryptocurrency companies. However, it was later updated to add more names, bringing the total to 76.“The list published here has been created to inform the public about the organisations that declared that they will operate in accordance with the Temporary Article 11 of the Capital Markets Law No. 6362 (Law),” a preface to the list of the companies noted (translated from Turkish).“In this context, the existence of the ‘List of Those Operating’ does not mean that the organisations included in this list are authorised in accordance with the relevant legislation.”No Crypto-Specific RegulationThe names appeared when cryptocurrency regulations in Turkey were in a state of flux. The industry is being regulated by existing market regulations as there is no specific crypto regulation framework in the country. In January, the country’s Treasury and Finance Minister Mehmet Şimşek indicated the completion of proposed crypto-specific legislation; however, no draft has yet been revealed.Interestingly, Binance recently terminated all its marketing activities in the country, citing regulatory compliance. Although Turkish clients can still access the largest crypto exchange by trading volume, it has decided to gradually turn off Turkish language options within three months.Binance’s name is also in the latest list of cryptocurrency companies published by the Capital Markets Board of Türkiye. Other notable names are Bitfinex, Crypto.com, and BitBNS.Turkey has also witnessed a massive surge in demand for cryptocurrencies. The country ranks fourth in terms of trading volume, with $170 billion, only behind the United States, India, and the United Kingdom.The rise in cryptocurrency demand can be correlated with Turkey's struggling economy. The value of the Turkish lira has plummeted by more than 82 per cent against the US dollar in the last five years, now at its lowest level ever.This article was written by Arnab Shome at www.financemagnates.com.
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Poll Reveals 60% of Prop Firm Clients Lose Funds, Investing $4,300 on AverageAlthough proprietary trading has been surging in popularity, this arena remains a challenging landscape where success eludes many. A recent PipFarm poll, exclusively obtained by Finance Magnates, sheds light on the current state of prop trading. The study, which gathered insights from 459 respondents, reveals a striking contrast: while the industry attracts many, only 40% manage to turn a nice dime.The poll revealed that most retail traders (70%) start their market journey either with FX/CFD (51%) or cryptocurrencies (19%). Only one in nine people (14%) entered the markets through evaluation firms, while others indicated stocks, futures, or other instruments as their debut venue.ASIC Is Monitoring the Emergence of Prop Trading FirmsIn another of our exclusive stories of the week: “The Australian Securities & Investments Commission (ASIC) is monitoring the emergence of ‘prop trading’ firms or services relating to CFD trading,” confirmed Dr Rhys Bollen, the regulator’s Senior Executive Leader of the Digital Assets and Markets Group.“An area for future focus for ASIC is the distribution of CFDs by issuers via emerging channels, such as ‘prop trading’ services. In 2024/25, we plan to undertake detailed surveillance of new and emerging distribution methods across the CFD industry and review consumer outcomes,” shared Dr Bollen.Prop Firm Indigo Trader Funding Ceases Operations, Files for UK Strike-OffIn the volatile proprietary trading space, Indigo Trader Funding suspended its Discord and then stopped engaging on other social media channels. The troubled firm later filed an application to strike the company off the UK's official register. This is the latest prop firm to collapse recently, potentially leaving clients without their due funds.As recently as late last month, Indigo was conducting business as usual, advertising its products and services on popular prop firm channels, including Discord and X (formerly Twitter). However, activity on the latter platform suddenly ceased on July 23, where previously there had been numerous posts.Progress is not about immediate success but consistent effort📈Every successful journey begins with a single trade.Stay patient, stay disciplined, and keep pushing forward, no matter how incremental the progress may seem.#PropTrading #PersistencePays #IndigoTraderFunding pic.twitter.com/FAGGfUJ6c6— Indigo Trader Funding (@IndigoFundingUK) July 23, 2024Prop Firm Goat Funded Trader Considers Adding cTrader After MetaTrader DepartureThis year, Goat Funded Trader (GFT) moved away from MetaQuotes' trading platforms twice, prompting the search for suitable replacements. In response, the company first introduced TradeLocker access and is now contemplating the inclusion of cTrader. GFT's CEO, Edoardo Dalla Torre, recently sought community feedback on this potential addition.This week, Dalla Torre posted on GFT's official Discord channel, hinting at the possible addition of another platform to their lineup. “We heard you want cTrader as well. Recently, we introduced TradeLocker. Should we add cTrader?” the CEO inquired.Scope Markets Is Rebranding, Taking Final Step in Rostro Group IntegrationScope Markets rebranded and presented a new logo, Finance Magnates learned exclusively. “The motivation is to align our core foundational focus of building a multi-brand financial services group,” revealed Michael Ayres, CEO of Rostro Group, which includes Scope. Ayers added that the number of active clients increased by over 30% in 2024 while volumes grew by 150%.Scope Markets has prepared a brand overhaul that aims to reflect the company's approach to offering clients more financial instruments and products. On the one hand, Scope is focusing on “democratizing” access to investing, while on the other, it's adapting its current offering to the increasing number of clients, which, according to the company, has reached record levels.Congratulations to the Israeli #fintech company @TipRanks for…
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IG Group has appointed Ricardo Ghiglino as the Head ofEurope and Emerging Market Tech Delivery, Ghiglino announced in a statement onLinkedIn today (Friday). Previously, Ghiglino served as the Head of ETPDelivery for more than a year.Roles in Other Notable BrandsAccording to his LinkedIn profile, Ghiglino is anexperienced technology expert with experience from notable brands. At WitEngineering and Technology Ltd, he served as the Senior Technical ProgrammeManager and General Manager. Additionally, Ghiglino was a System Analyst at NS Solutions,a Programmer analyst at Deloitte, and a Developer at IT Deusto.Ghiglino’s promotion at IG Group is the latest among recentexecutive changes at the company. This week, William Mead was appointed as Head of Operations. Mead has served in various roles at IG Group, includingas the Head of Trading Operations. Prior to that, he was the Global Head ofCredit and Client Money in London.Similarly, Chris Old started a new role as the Head of Organic Growth at IG Group. Old, who is based in London, has worked for IG Group for over six years in different positions. He joined the company in 2021 as SEO Manager for the UK and rose through the ranks, serving as the SEO Manager for EMEA and later SEO Lead for IG.com.Other Executive ChangesIn April, IG Group's Global Institutional Marketing Manager Tomas Ausra transitioned to the Head of Marketing role at IG Prime, the institutional side of the business. Ausra, who has worked as the Global Institutional Marketing Manager for nearly five years, will lead IG Prime's brand marketing activities globally.IG Group also onboarded Mark Evans as the Head of Corporate Development. Evans had served as the Head of Consumer Insights and Strategy at the London-based forex and CFD trading company for over six years.This article was written by Jared Kirui at www.financemagnates.com.
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In financial services space, the keys to global success are always local and the Asia-Pacific (APAC) region is no exception. The upcoming Finance Magnates Pacific Summit (FMPS) will look to shed light on APAC markets, as well as the nuances and local attributes that are integral to success. With elite talent from around the region, combined with globally recognized brands and speakers, this professional event is one that cannot be missed this August.FMPS will be held on August 27-29 at the International Convention Centre in downtown Sydney, Australia. As a key hub for APAC markets, the event’s venue is ideally suited to welcome experts from around the world, together with locals for a celebration and exploration of multiple industries.Attendees can expect to connect, network, and engage face-to-face with plenty of retail traders, brokers, IBs, service providers, and much more. Such a diverse attendance is what makes events such as FMPS so important, not just for the industry but also for staying connected. The summit features plenty for all types of attendees, with a vibrant exhibition floor, live entertainment, and two curated content stages. Participants can take a deep dive into the full-length agenda for FMPS, with fintech, payments, crypto, and online trading all represented in full.There are no shortage of panels, workshops, and other keynotes available for viewing over the two-day event, with several notable sessions jumping out. This includes the upcoming session, ‘Understanding APAC Markets: Partnerships, Culture, Retention’.As a quick reminder, FMPS registration is only available for a limited time! With under two weeks to go until the event kicks off, make sure to head on over to the event website and register today! Skip the queues on-site and make sure to sign up in advance to save time!Deciphering APAC Markets at FMPSAPAC markets have been some of the most fascinating to watch in recent years. The upcoming panel, ‘Understanding APAC Markets: Partnerships, Culture, Retention’ is tailor made for individuals who want to learn more about this region and see what heights it can grow to.This panel will be held on August 29 at 11:40-12:20 at Centre Stage, featuring the following experts and noteworthy specialists:Fraser Nelson, Global Head of Business Development at Scope MarketsFirdaus Ali, Business Analyst & Partnership Manager at TradingProStephen Williams, Premium Client Manager at Capital.Com Joy Li, Head of APAC at Gold-i Sam Grecner, Director of Growth (Australia) at TradingView Mario Singh, Founder and Chairman at Fullerton MarketsIn this hands-on, country-specific session, look for the expert panel to discuss what makes traders tick across APAC region. Panel participants can expect to learn how to retain local partners for fruitful collaboration as well as which assets fair best in different regions and why.Finally, no panel would be complete without some degree of foresight. Expect the panel to peer into the looking glass and pinpoint how the industry can adapt moving forward and where the alpha is in 2025.This article was written by Jeff Patterson at www.financemagnates.com.
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Simon Robertshaw has been appointed as the Chief TechnologyOfficer for Trading Solutions at Broadridge. He will be based in London and is tasked with overseeing andadvancing the company's front-office trading capabilities. This roleencompasses both sell-side and buy-side trading across various asset classesand jurisdictions.New Broadridge CTO Announced“I am thrilled to announce that I have joined Broadridge asthe new Chief Technology Officer, Trading Solutions at Broadridge,” commentedon his new appointment. “In my new role I will bring together and evolve allfront-office trading capabilities across the organization, inclusive ofBroadridge Trading and Connectivity Solutions and other platforms acrossCapital Markets, Investment Management, Wealth Management, and ICS.”Before joining Broadridge, Robertshaw was the ChiefOperating Officer at The Bank of London from December 2021 to May 2024. At TheBank of London, he led the Banking-as-a-Service strategy globally. The Bank ofLondon is recognized as a leading-edge technology company and the world's firstpurpose-built global clearing, agency, and transaction bank.Earlier, Broadridgeappointed David Runacres as President of Asia-Pacific (APAC), effectiveimmediately, as Finance Magnatesreported. Based in Tokyo, Runacres will oversee regional operations and act asSenior Country Officer for Japan, a crucial market for the company.With over 30 years in the APAC region, he joins Broadridgefrom the London Stock Exchange Group, where he was head of Japan for 12 years. Thisappointment supports Broadridge’s strategy to enhance its presence in Asia.Enhancing TechnologyRobertshaw's previous experience includes serving as theGlobal Head of Front Office Technology for Asset Management at UBS from August2016 to January 2022. He also held the role of Chief Information Officer andChief Operating Officer at a hedge fund/family office in London from February2010 to July 2016. Additionally, he was Head of Corporate and InvestmentBanking Technology for Europe and Asia at Wells Fargo.Robertshaw's new role at Broadridge will focus on enhancingthe firm's technology infrastructure to support trading operations globally.This article was written by Tareq Sikder at www.financemagnates.com.
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There is no better feeling than standing out from the crowd with an award voted for by industry peers. Winning a UF Award represents one of the crowning achievements of any forex brokerage or fintech provider.As the Nomination Round reaches its final stages, numerous nominees are continuing to pour in. Don’t worry though, there is still just enough time to put forward your own brand - or your favourite company - for the prestigious UF AWARDS APAC 2024.With entries closing on 21 August, this is your final opportunity to make your opinion count and ensure the best B2C and B2B brands in the Asia-Pacific region get the recognition they deserve.Revel in the acclaim of a UF AwardWinning a UF Award can catapult a brand to new heights, providing industry validation and enhanced brand memorability. It is a distinguished accolade that signifies their commitment to excellence in the online trading and fintech sectors.The benefits of winning a UF Award are profound, serving as an endorsement of your company’s accomplishments; It differentiates your brand from its competitors, while boosting its reputation and credibility in the process.It also acknowledges the exceptional performances of firms across the continent, honouring those who have exceeded expectations and achieved notable success.By nominating, you can play your part in celebrating the most deserving industry participants, highlighting their high performance in the APAC region over the past 12 months.How to nominate for a UF AwardTo participate, simply fill out the nomination form on the UF AWARDS APAC 2024 website. Remember, only registered members can nominate, so make sure you're signed up and ready to go. Each brand can be nominated in multiple categories.Below is a selection of some of the confirmed award categories for the UF AWARDS APAC 2024:B2C Awards:● BEST BROKER - APAC● BEST TRADING EXPERIENCE - APAC● MOST TRUSTED BROKER - APAC● BEST TRADING PLATFORM – APAC● MOST TRANSPARENT BROKER – APAC● FASTEST GROWING BROKER – APACB2B Awards:● BEST TRADING PLATFORM – APAC● BEST CONNECTIVITY PROVIDER - APAC● BEST PAYMENT GATEWAY - APAC● BEST WHITE LABEL SOLUTION - APAC● BEST B2B LIQUIDITY PROVIDER – APAC● BEST TECHNOLOGY PROVIDER – APACThe countdown to Bangkok is onAfter the Nomination Round ends, the all-important Voting Round will take place from 26 August to 6 September where only registered users will be able to cast their vote.The UF AWARDS APAC 2024 Ceremony will take place in Bangkok during iFX EXPO Asia 2024. It is the place where leading professionals from the best online trading and fintech brands will come together to unwind and pay tribute to the successes achieved over the past year.With time fast running out until the Nomination Round closes, make sure your company gets its moment in the spotlight. Simply nominate your favourite brokerage and/or fintech company - or your own brand - for the UF AWARDS APAC 2024 now! This article was written by FM Contributors at www.financemagnates.com.
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Peter Mintzberg has officially been appointed as the newChief Executive Officer of Grayscale Investments, according to a LinkedInupdate seen by Finance Magnates. Mintzberg joins Grayscale following a seriesof senior roles across major financial institutions.Before his move to Grayscale, Mintzberg was the Global Headof Strategy for Goldman Sachs Asset & Wealth Management. He held thisposition from 2023 until August 2024, where his role expanded to overseeGoldman’s Wealth Management business. Veteran Executive Takes HelmHe was responsible for deal execution and broader strategicinitiatives. Between 2021 and 2023, he was the Global Head of Strategy forGoldman Sachs Asset Management, tasked with establishing and leading acorporate strategy and development function. This included business-widestrategy, industry research, and digital assets strategy.Prior to Goldman Sachs, Mintzberg worked at Apollo GlobalManagement as a Managing Director from 2020 to 2021, where he focused on dealexecution. His career also includes a long tenure at OppenheimerFunds, where heheld multiple leadership roles from 2013 to 2020. These included Chief Strategy Officer and Global Head ofCorporate Development, and later Global Head of Corporate Strategy, InvestorRelations, and Treasury, after Oppenheimer merged with Invesco.Bringing Global ExpertiseEarlier in his career, Mintzberg spent seven years atBlackRock, where he served in various strategic roles. From 2010 to 2013, hewas the COO and Head of Strategy for Latin America and Iberia. Before that, hewas Director of Strategy and Business Development from 2006 to 2010.Mintzberg's experience spans over 20 years in the financesector, focusing primarily on corporate strategy, deal execution, and businessdevelopment across global markets. At Grayscale, his leadership is expected toshape the company’s direction as it continues its role in the digital assetsinvestment space.This article was written by Tareq Sikder at www.financemagnates.com.
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The volatility in proprietary trading has claimed anothervictim. Funds For Traders has written to its users that it will be ceasingoperations. The company blamed the suspension of services on Eightcap's decision to stop supportingMetaTrader 4 and MetaTrader 5 platforms for prop trading. Suspension of MT4 and MT5 Platforms"We regret to inform you that as of today, we will beceasing all operations at Funds For Traders. This decision was made afterreceiving news from Eightcap that they would no longer be supporting theMetaTrader 4 and MetaTrader 5 platforms for prop trading. Unfortunately, thismeans that we can no longer offer these platforms to our users," thecompany wrote on X. "To all our incredible traders, it's been an honor tobe part of your journey. Together, we've changed lives globally. Thank you foryour trust during your adventure with us. Wishing you continued success in allyour future endeavors."To all our incredible traders, it's been an honor to be part of your journey. Together, we've changed lives globally. Thank you for your trust during your adventure with us. Wishing you continued success in all your future endeavors! ❤️ pic.twitter.com/vSkVFiizjZ— Funds For Traders (@fundsfortraders) August 15, 2024Despite the abrupt announcement, the company has assuredusers with active challenges that they will be contacted and supportedaccordingly. This action came barely a week after another prop trading firm, Karma Capital, unexpectedly closed its operations.More Prop Firms FallAccording to the company's Founder, reliance on a promised tech solution from an unnamed provider that failed to materialize contributed to the decision to end the business. This delay reportedly drainedcosts for about four months. Karma also disclosed that their risk checks werenot adequately implemented in the company.Another firm gone, @karmaproptrader...Website no longer operating, Discord chats are closed. Drop your thoughts in comments 👇 pic.twitter.com/MS4JViTegP— TheTrustedProp (@TheTrustedProp) August 11, 2024Last month, Funded Engineer, another struggling prop trading firm, permanently closed its operations and announced plans to file forbankruptcy. In its announcement, the company told users that ithad tried every possible option to remain in business, including restructuring,cost-cutting, and raising capital, but failed.Similarly, True Forex Funds was forced to end its services due to insolvency. The prop trading company also cited effortsto improve its financial health but was unsuccessful. Earlier, the platform announced plans to relaunchoperations. In its announcement, it blamed MetaQuotes for allegedly terminatingits MT4 and MT5 licenses.This article was written by Jared Kirui at www.financemagnates.com.
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Capital.com has launched a public bug bounty program.This initiative, hosted on the crowdsourced security platform Intigriti, isreportedly part of the company’s commitment to safeguarding user data andplatform integrity. Global Call for Ethical HackersThe company has invited security researchers andethical hackers globally to proactively identify and address potentialvulnerabilities, offering cash rewards for discoveries that enhance theplatform's security, according to a statement sent to Finance Magnates. By engaging ethical hackers and security researchers, Capital.comaims to strengthen its defenses and foster a collaborative environment forcontinuous improvement. The company has described the new bug bounty program asa proactive stance on cybersecurity.The company has encouraged participants in the programto identify and report software security vulnerabilities within Capital.com'splatforms. In exchange for their expertise, these ethical hackers will earncash rewards based on the severity and potential impact of the vulnerabilitiesthey uncover.Speaking about the program launch, Pavel Krasilevich, Capital.com’sHead of IT Security, said: “At Capital.com, we take our responsibility toprotect our customers seriously. By launching this public bug bounty program,we are not only opening our doors to the brightest minds in cybersecurity butalso taking active steps to stay ahead of potential threats.”“This initiative reflects our proactive approach tosafeguarding our platform and users, and we are excited to collaborate with theglobal cybersecurity community to help ensure our platform remains both trustedand secure.”Outsourced Security PlatformThe partnership with Intigriti, a crowdsourcedsecurity platform, is central to Capital.com's bug bounty program. Intigritioffers a framework for managing the program, ensuring that security researchershave clear guidelines and submission criteria to follow. Security researchers interested in participating canfind detailed information and guidelines on the Intigriti platform, where theycan contribute to Capital.com's mission of maintaining a secure and trustworthytrading environment.Last month,Capital.com announced that it will no longer charge overnight funding fees onnon-leveraged CFD trades for stocks and digital assets. This step reportedlyaims to eliminate certain fees for traders who maintain positions beyond asingle trading day.The company cited a shift in retail trader behavior towardsextended holding periods. Based on the firm’s data, 89% of all non-leveragedovernight positions in Q2 2024 were in stocks and crypto. This article was written by Jared Kirui at www.financemagnates.com.
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Trading Technologies has completed the acquisition ofSTART, a broker-neutral trade optimization platform, from Abel Noser Holdings.This acquisition marks the culmination of a two-stage process to acquire AbelNoser Solutions, a renowned company focusing on transaction cost analysis(TCA). A Two-Stage ProcessThe acquisition journey began on August 31, 2023, whenTT acquired Abel Noser Solutions, a key provider of transaction cost analysisservices for investment managers, brokers, asset owners, and consultants. The latest step is the first stage in the broaderacquisition strategy and allows Trading Technologies to integrate crucial services into itstechnology platform, the company announced in a statement today (Monday).The completion of the second stage, which involved theacquisition of the START platform, reportedly represents a significantmilestone for TT. The platform, known for its broker-neutral trade optimizationcapabilities, promises to enhance TT's service offerings, providing its clientswith tools for trade execution and cost analysis.By integrating these services, TT aims to offer morecomprehensive solutions to its clients, strengthening its services in the space of technology platforms.David Solo, a member of TT's Board of Directors, reportedlyplayed a pivotal role in the acquisition process, leading the negotiations onbehalf of the company. The transactions were also supported by Foley &Lardner LLP, which acted as legal advisor to TT, and Ardea Partners LP, whichserved as financial advisor.Expansion and IntegrationWith the acquisition now complete, the integration ofthe START platform is expected to provide TT's clients with the toolsfor optimizing trade execution and managing transaction costs. Seward & Kissel LLPacted as legal advisor to Abel Noser Holdings, ensuring that the acquisitionprocess was smooth and efficient for all parties involved.Early this year, Trading Technologies finalized the acquisition of ATEO SAS, a provider of post-trade solutions for listed derivatives. The agreement allowed ATEO to operate as a global managed service hosted in Trading Technologies' data centers, enabling TT's clients to access ATEO's post-trade services.ATEO's services include a global order management system for brokerage firms. This platform enables trade matching and clearing across global clearing houses, as well as standardized clearing APIs for creating in-house solutions.This article was written by Jared Kirui at www.financemagnates.com.
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As the financial services industry undergoes rapid and wide-ranging changes, esteemed fintech leaders and policymakers will be reflecting on plenty of topics this August. This includes the upcoming Finance Magnates Pacific Summit (FMPS), taking place in just two weeks in Sydney, Australia on August 27-29.With the world’s foremost talent, regtech experts, and trading specialists on-site, this is one event you cannot afford to miss. The Asia-Pacific (APAC) trading space is full of several nuances and developments, perhaps none greater than a shifting regulatory sphere that has really changed in recent years.To help analyze this space as well as where its headed, FMPS will be taking a deep dive into several areas of content, part of a two-day exhibition. Across two content stages, thousands of attendees will have the chance to explore panels, workshops, keynotes, and other sessions.In total, four distinct content verticals will be on offer this year – online trading, crypto, fintech, and payments. Ahead of the event, prospective attendees can take a look at the full-length agenda for FMPS to see what best resonates with their interests.This professional event will provide key networking opportunities throughout the sessions, promising a chance for face-to-face engagement, connecting with new people, or kindling partnerships.One of the most anticipated panels of the event will be the upcoming session, Transformation in the APAC Trading Landscape and Beyond. Have you reserved your seat to FMPS? It is still not too late to book your seat for the biggest event of the year in APAC. Make sure to skip the queues on-site this August in Sydney and register today. Transformations Underway in APACThere is a lot to unpack at present in APAC, which says nothing about how the future of retail trading, or a shifting regulatory space could change things entirely. The panel, Transformation in the APAC Trading Landscape and Beyond, will be taking place at Centre Stage, on August 28, 12:20-13:00. The session will include the following speakers:Eric Blewitt, CEO at Investment Trends Rhys Bollen, Senior Executive Leader, Digital Assets at the Australian Securities and Investments Commission (ASIC) Michael Bogoevski, Head of Institutional Sales at CMC ConnectKarin Setchell, GM, Product & Investment Solutions at COMMSECPanel participants can learn from some of the industry’s foremost experts for a forward-looking analysis and key insights into the hottest trends, innovations, and what is driving the future of trading offerings globally.See you in Sydney in nearly two weeks!This article was written by Jeff Patterson at www.financemagnates.com.
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Warren Buffett's Berkshire Hathaway is holding more short-term Treasurys thanthe Federal Reserve. Is this a sign of looming market trouble?When Warren Buffett makes a move, the financial world takes notice. Thenews that he’s amassed more short-term U.S. Treasury bills than the FederalReserve—has left many wondering what message the Oracle of Omaha is sending. Onthe surface, this might seem like just another chapter in Buffett’s storiedcareer of shrewd investments. However, dig a little deeper, and this massiveaccumulation of Treasurys might be saying more about the current state of themarket than anything else.In a world where investors are perpetually on the lookout for the nextbig opportunity, Buffett’s decision to park over $120 billion in short-termgovernment debt isn’t just noteworthy—it’s downright cautionary.⚠️BREAKING: With $234.6 Billion, Warren Buffet now holds more US Treasury Bills than the Federal Reserve.Buffett and Berkshire Hathaway $BRK.B own 4% of all T-Bills issued to the public.If invested in 3-month Treasury bills at about 5%, $200 Billion in cash would generate… pic.twitter.com/wbdrb7UEUT— Andrew Lokenauth | TheFinanceNewsletter.com (@FluentInFinance) August 7, 2024Buffett’s Move and Market SentimentHistorically, U.S. Treasurys have been the go-to asset for investorsseeking safety during turbulent times. They’re reliable, backed by the fullfaith and credit of the U.S. government, and, most importantly, they’re notsubject to the wild swings of the stock market. By increasing BerkshireHathaway’s Treasury holdings to unprecedented levels, Buffett is signaling aclassic flight to safety—a move that typically occurs when market conditionsare uncertain or when the risks associated with other investments are deemedtoo high.But why now? What does Buffett see that the rest of the market might beoverlooking? One interpretation could be that Buffett anticipates increasedmarket volatility ahead. With inflation pressures, geopolitical tensions, andthe ongoing effects of central bank policies, the economic landscape isanything but stable. By opting for the security of Treasurys, Buffett might bepositioning Berkshire to weather a storm that others have yet to see coming.Warren Buffett's Berkshire Hathaway now owns more Treasury Bills than the Federal Reserve pic.twitter.com/ehmiD17Tak— Barchart (@Barchart) August 8, 2024A Lack of Attractive Opportunities?Another angle to consider is Buffett’s well-known investmentphilosophy: “Be fearful when others are greedy, and greedy when others arefearful.” The fact that Buffett is hoarding cash in the form of Treasurys couldimply that he doesn’t see many attractive opportunities in the current market.With stock valuations high and many asset classes looking increasingly frothy,Buffett may be choosing to sit on the sidelines, waiting for better deals toemerge.This isn’t the first time Buffett has taken such a cautious stance.During the dot-com bubble and the 2008 financial crisis, Buffett famouslyrefrained from jumping into the fray when others were buying into the hype. Hispatience paid off, allowing him to make significant investments when prices weremore reasonable. Is this history repeating itself?Buffett’s Strategy: Preparing for the Next Big OpportunityBuffett’s Treasury holdings also reflect his preference for maintaininga strong liquidity position, especially during times of uncertainty. Having asubstantial amount of cash or cash equivalents allows Berkshire Hathaway to actquickly when the right opportunity presents itself. This is a hallmark ofBuffett’s approach—he isn’t one to rush into investments without carefulconsideration. Instead, he waits, sometimes for years, until the market offersup a golden opportunity at the right price.By holding more Treasurys than the Fed, Buffett ensures that BerkshireHathaway is in a position of strength, ready to deploy capital when the nextbig opportunity arises. This strategic patience is a stark contrast to the morespeculative behaviors seen in today’s market, where many investors…
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Techysquad IT Infrastructure Co LLC, a leading provider of advanced CRM solutions, has joined forces with Spotware, the creators behind cTrader - one of the industry's most respected trading platforms - as part of strategic collaboration. This groundbreaking partnership brings together Techysquad’s expertise in CRM technology with cTrader's cutting-edge trading tools developed by Spotware to deliver a more streamlined experience for brokers and traders.Techysquad has meticulously integrated its CRM solutions with the cTrader platform, meaning brokers can now manage their client relationships with greater ease, while also improving customer service.Such integration offers new possibilities, allowing users to experience a more intuitive and efficient trading environment, providing real-time data synchronisation, which is crucial for making informed trading decisions. Meanwhile, the platform's user-friendly interface simplifies trading processes, particularly in the way brokers and traders interact with trading platforms, enabling them to better navigate the complexities of the financial markets - and save time in the process.By teaming up with Spotware, Techysquad is able to tap into more than 14 years of fintech innovation, with the company having revolutionised the trading industry with the development of its proprietary cTrader trading platform.cTrader stands out in a highly competitive market, offering unparalleled order execution speed and an intuitive interface that appeals to both novice and experienced traders. The platform's specially crafted design ensures that users can utilise its advanced capabilities effortlessly without confusion.With the help of advanced tools such as sophisticated take profit and stop loss systems, detachable charts, and a variety of chart time frames, cTrader provides traders with real-time market sentiment and depth of market information, enhancing their ability to make more precise and timely trades.It presents a complete turnkey solution, equipping brokers of all sizes with the technology they need to offer premium forex, CFD, and spread betting services, in turn simplifying the process for brokers to deliver high-quality trading experiences to their clients.Overall, the collaboration between Techysquad and Spotware represents a strategic initiative to provide brokers and traders with a comprehensive, efficient, and user-friendly trading solution. Both companies are united in their mission to continuously innovate in order to meet the evolving demands of the foreign exchange market.Don’t miss out on experiencing the enhanced trading solutions provided by Techysquad and cTrader. Visit the Techysquad blog to learn more about how this collaboration can be of benefit. Schedule a demo or reach out to Techysquad for more information.This article was written by FM Contributors at www.financemagnates.com.
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In the faceof numerous recent retail prop firm failures or suspensions of their operationsdue to licensing issues with trading platforms, one entity has offered to takeover all troubled entities. However, Astra Capital Group sets one condition.Astra Capital Group Wantsto Acquire Prop FirmsLastweekend, Astra Capital announced that it is "ready to acquire any propfirm that shuts down or pauses operations, taking on all their traders"and onboarding them to its platform.Thepotential migration would take a maximum of two days, allowing clients tocontinue trading and struggling business owners to generate some revenue.AnnouncementWe are ready to acquire any prop firm that shuts down or pauses operations, taking on all their traders and onboarding them to our platform. Additionally, the migration would take only 1-2 days, depending on the size of the prop firm and the time of the agreement,…— Astra Capital Group (@AstraFunding) August 15, 2024In return,Astra expects a 70% share of challenge fees from active traders. "Our riskmanagement team will determine which firms have a healthy number of fundedtraders and account sizes," they wrote in a subsequent post. "Basedon the 70% of all challenge fees and further risk calculations, we will makeour decision. We will not simply do this for free."To clarify, we will not be doing this for free. If the prop firm is willing to offer 70% of the challenge fees for all its active traders, our risk management team will determine which firms have a healthy number of funded traders and account sizes. Based on the 70% of all…— Astra Capital Group (@AstraFunding) August 16, 2024AstraCapital has only been in the market since early 2024, but it has since introduced its own technology, which allowed it to launch its proprietary trading platform, Astra X, which is currently available for desktop computers and mobile devices. The companyalso offers payment cards in cooperation with Visa and has announced the launchof an additional futures trading platform within the next three weeks. Itsadvertisements regularly appear on large billboards in New York's Times Square.20 Prop Firms Closed inOne WeekAstraCapital's offer comes at a time when allegedly 20 different prop firmsannounced closures or suspensions of operations in one week. This was all dueto broker Eightcap, which terminated services for prop trading firms for thesecond time this year.MQ has started cracking down on Eightcap, and their ASC license has been suspended. Expect 15+ prop firms to shut down in the coming days. 📸 @PFRT_X pic.twitter.com/MnXLJHK9cT— PROP FIRM MEDIA (@PropFirmMedia) August 15, 2024Thedecision was prompted by MetaQuotes' move to crack down on Eightcap bysuspending its licenses for trading products, including the popular MetaTraderplatform. Many firms grey-labeled access to MT4 and 5 through Eightcap, and itappears that MetaQuotes has started to address this issue more thoroughly.One of thefirms that disappeared from the market for this reason was Funds For Traders."This decision was made after receiving news from Eightcap that they wouldno longer be supporting the MetaTrader 4 and MetaTrader 5 platforms for proptrading. Unfortunately, this means that we can no longer offer these platformsto our users," the company wrote on X.At the sametime, Indigo Trader Funding and Karma Prop Traders also announced their exitfrom the market. Data from the latest survey conducted by PipFarm shows that amaximum of 40% of clients earn money on prop firm challenges, while the restare capital providers.This article was written by Damian Chmiel at www.financemagnates.com.
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The Australian Securities and Investments Commission (ASIC) revealed that it has taken down more than 7,300 phishing and investment scam websites that were attempting to swindle investors. Since July 2023, actions against fake investment platforms have surged, with over 5,530 sites blocked, compared to 1,065 phishing scam hyperlinks and 615 cryptocurrency investment scams.Interestingly, the number of websites blocked by the regulator has dropped dramatically since March 2024, a month when it blocked 734 websites. In April 2024, the regulator blocked 612 websites, which decreased to only 62 in July.Regulator Is Working with a Third-Party CompanyHighlighting the blocking process, the Australian regulator explained that it flags suspicious websites and refers them to a third-party company specialising in cybercrime detection and disruption.“Once evidence of malicious activity is confirmed, the takedown process begins, including identifying relevant parties who can help to take the attack offline,” the regulator noted, detailing the process. However, it did not name the third-party company it has been working with.Although ASIC blocks fraudulent and phishing websites, it does not publish their names, a practice regularly followed by top European regulators. However, none of the other regulators, except the one in Italy, can block flagged websites.Priority to Fight Frauds and ScamsASIC, which oversees the retail financial sector in the country, implemented a ‘scam website takedown capability’ last year, under which it is taking down suspicious websites. It focuses on three types of websites: fake investment platforms, crypto-asset scam websites, and imposter scam websites, all of which are very difficult to detect unless some victims come forward.The regulator strengthened its focus in this area after Australians lost AU$1.3 billion to investment scams in 2023, down from AU$1.5 billion in 2022.Interestingly, a survey conducted by Finance Magnates and FXStreet found that clones of brokers are the biggest threat to victims compared to other scams.“Australians are still losing billions of dollars each year to scams,” ASIC’s Deputy Chair Sarah Court stated. “Scammers are criminals targeting the hip pockets of hard-working Australians – they don’t discriminate, and they use sophisticated techniques to steal information and money.”“The scams landscape is rapidly evolving. Innovative technological developments may improve how we live and work; however, they also provide new opportunities for scammers to exploit… Scammers will continue to adapt and find new ways to lure consumers, and ASIC remains proactive in detecting and disrupting investment scams.”This article was written by Arnab Shome at www.financemagnates.com.
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This week, there was a surge in the number of significant executive moves across the fintech, cryptocurrency, forex, and crypto mining sectors. In this coverage we feature the new changes at IG Group, Broadridge, Grayscale, Rostro Group, Kraken, Bitget, Scope Markets, GTN, Bitfarms, Eightcap, Tools for Brokers, Robinhood, and Pepperstone. IG Group promoted Ricardo Ghiglino to Head of Europe and Emerging Market Tech Delivery; Broadridge named the Former COO of The Bank of London CTO; Grayscale tapped a Former Goldman Sachs Executive to step in as CEO; a former FX expert was selected to lead Rostro's Digital Asset Innovation; and Kraken named Alex Mehrdad General Manager for Canada.Elsewhere, Bitget tapped Ex-Binance Legal Chief in push forregulatory compliance; Scope Markets picked Doo Group veteran as Global HeadBusiness Development; GTN onboarded Saxo Bank veteran to lead Middle Eastexpansion; Bitfarms revamped executive team, welcomed Liam Wilson as ChiefOperating Officer; Eightcap promoted Rositsa Radovanova to General Manager forEurope.Also, Tools for Brokers' Sergei Gruzin left for Finstek asCCO; Robinhood enlisted ex-Cruise and Lyft Exec Jeff Pinner as Chief TechnologyOfficer; IG Group elevated William Mead as Operations Lead; and Pepperstoneappointed new Head of Strategic Operations after EMEA & LATAM HRleadership.Executive Moves of the WeekIG Group Promotes Ricardo Ghiglino as Head of Europe and Emerging Market Tech DeliveryIG Group appointed Ricardo Ghiglino as the Head of Europe and Emerging Market Tech Delivery. Previously, Ghiglino served as the Head of ETP Delivery for more than a year. He is an experienced technology expert with experience from notable brands. At Wit Engineering and Technology Ltd, he served as the Senior Technical Programme Manager and General Manager.Additionally, Ghiglino was a System Analyst at NS Solutions, a Programmer analyst at Deloitte, and a Developer at IT Deusto. Ghiglino’s promotion at IG Group is the latest among recent executive changes at the company. Recently, William Mead was appointed as Head of Operations.Learn more about IG Group's Promotes Ricardo Ghiglino as Head of Europe and Emerging Market Tech Delivery.Broadridge Names Former COO of The Bank of London as CTOBroadridge appointed Simon Robertshaw as the Chief Technology Officer for Trading Solutions. He will be based in London and is tasked with overseeing and advancing the company's front-office trading solutions. This role reportedly encompasses both sell-side and buy-side trading across various asset classes and jurisdictions.Prior to joining Broadridge, Robertshaw was the Chief Operating Officer at The Bank of London, where he led the global banking-as-a-service strategy. Robertshaw's previous experience includes serving as the Global Head of Front Office Technology for Asset Management at UBS. Discover more about Simon Robertshaw's new role as the Chief Technology Officer for Trading Solutions at Broadridge.Grayscale Taps Former Goldman Sachs Executive to Step In as New CEOGrayscale named Peter Mintzberg as the new Chief Executive Officer of Grayscale Investment. Mintzberg joined Grayscale after a series of senior roles across major financial institutions. Before his move to Grayscale, Mintzberg was the Global Head of Strategy for Goldman Sachs Asset & Wealth Management.Commenting on his appointment, Mintzberg said: “I am incredibly proud and honored to share that I have officially joined Grayscale Investments as the company’s new Chief Executive Officer. Crypto is among the fastest-growing categories in Asset Management, and I look forward to collaborating with the Grayscale team to build on the company’s success and deliver for our clients.”Reveal more about Grayscale's pick of Peter Mintzberg as the new Chief Executive Officer of Grayscale Investment.Former FX Expert to Lead Rostro's Digital Asset InnovationRostro Group, a fintech group of companies including Scope Markets trading brand, named industry veteran Mark Foulger as Managing Director of Digital Asset…
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As the WHO declares a global health emergency over the mpox outbreak,vaccine makers' stocks are surging. Is profiting from human misery the newnormal?The Grim Reality: Mpox and the Surge in Vaccine StocksThe recent declaration of a global health emergency by the World HealthOrganization (WHO) in response to the escalating mpox outbreak in Africa hassent shockwaves through the financial markets. But, alongside the cryfor humanitarian aid and global cooperation, the immediate reaction from themarkets was a surge in vaccine company stocks as investors and traders sought to benefit from the surge in demand. This isn’t a blip on the radar,it’s a clear example of how the market capitalizes on crises, with a chillingfocus on human suffering.Mpox has spread from Congo to neighbouring countries, including Burundi, Kenya, Rwanda and Uganda, prompting the WHO to declare the outbreak of the disease a global public health emergency https://t.co/9zZBEST12G pic.twitter.com/2zYrF88om2— Reuters (@Reuters) August 15, 2024As investors rush to capitalize on the potential windfall from thecrisis, shares in vaccine manufacturers have soared. Companies like BavarianNordic and Emergent BioSolutions have seen significantupticks in their stock prices following the WHO's emergency declaration.Bavarian Nordic, which produces the only FDA-approved vaccine for mpox,witnessed a surge in its stock value, while Emergent BioSolutions, a key playerin vaccine production, saw similar gains. Other companies producing medicaltools used in the production or administration of vaccines have also seenupticks.🌍 🇩🇰 Bavarian Nordic $BAVA stock jumps up to 17% at open, post WHO's declaration of the Mpox outbreak as a global health emergency. 🚨 With an approved vaccine ready, the company pledges to deliver 10m doses by 2025. #BavarianNordic #Mpox #GlobalHealthEmergency #Vaccines 💉 pic.twitter.com/m7D6GXkux3— Saxo Bank MENA (@SaxoBankMENA) August 15, 2024Profiting from MiseryLet’s not mince words: the market’s enthusiastic response to the mpoxemergency is pretty grim, though predictable. It's a stark reminder of how thefinancial system often operates with a moral compass that’s spinning wildly outof control. The surge in vaccine stocks isn't about hope or relief; it’s aboutprofit—cold, hard cash made off the back of a public health crisis.This pattern is nothing new. The pharmaceutical industry has a longhistory of reaping massive profits from global health crises. The Covid-19pandemic was a prime example, with companies like Pfizer andModerna enjoying unprecedented stock gains. But the current response to thempox outbreak feels even more unsettling, given the slow, inadequate responseto the needs of those suffering from the disease.Remembering Martin ShkreliIf this all sounds familiar, it’s because it is. Just consider the caseof Martin Shkreli and the infamous Daraprim price hike. In 2015, Shkreli, thenCEO of Turing Pharmaceuticals, jacked up the price of Daraprim—a life-savingdrug used to treat parasitic infections—from $13.50 to $750 per pill overnight.The public outrage was swift, but so was the financial windfall for Shkreli, afamed lover of Kayne West, and his company.The conditions are different, for sure, but the idea of actively profitingoff suffering, especially given the curative nature of the products produced bythe vaccine manufacturers, makes it stick in the throat. One key difference? Thistime, it’s the entire market that’s jumping on the bandwagon, making theexploitation of a public health crisis a norm rather than an anomaly.The Mpox Emergency: A Lesson in Unchecked CapitalismThe current surge in vaccine stocks raises uncomfortable questionsabout the nature of capitalism, particularly in the healthcare sector. When themarket rewards companies for merely being in the right place at the right time,it becomes clear that profit, not people, is the driving force.The WHO’s declaration of a global health emergency over the mpoxoutbreak was meant to mobilize resources, encourage cooperation, and promptaction,…
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VT Markets, a global multi-asset broker, has announced a newpartnership with Newcastle United. A special jersey with the number ‘77’ hasbeen unveiled to mark this partnership. The number ‘77’ is significant for VT Markets, symbolizinggood fortune and growth. In football, a player's number is a key part of theiridentity. VT Markets chose this number to reflect its brand values.Partnership Unveiled at J LeagueThe partnership was officially launched at the J. LeagueInternational Series 2024 in Japan. The event featured an exchange of tokens ofappreciation. Newcastle United presented a jersey with the number ‘77’, whileVT Markets gave an appreciation trophy."We’re proud that VT Markets views Newcastle United asthe ideal partner to support and elevate its ambitious growth plans in marketsacross the world.” said Newcastle United’s Chief Commercial Officer, PeterSilverstone. “We are delighted to welcome another internationally recognisedpartner to our club and look forward to working closely with VT Markets." 💥 VT Markets 🤝 Newcastle UnitedUnited by a shared vision, VT Markets proudly announces the latest partnership with the legendary UK football team, Newcastle United @NUFC. ⚽️This collaboration highlights timeless qualities like bravery, perseverance, and camaraderie—because… pic.twitter.com/ZCuRV4I97e— VT Markets Global (@vtmarketsglobal) August 16, 2024Saitama Stadium Hosts EventThe ceremony took place at the Saitama Stadium in Japan onJuly 31st. The stadium has a capacity of 63,700. Representatives from bothorganizations were present. VT Markets was represented by Agustin Bilinskis,Head of Strategy Operations, APAC, and Dandelyn Koh, Global Brand Lead.Newcastle United was represented by Peter Silverstone, Chief CommercialOfficer."We are incredibly excited about this partnership withNewcastle United, a team that exemplifies the same drive for excellence andinnovation that we strive for at VT Markets," said Agustin Bilinskis, Headof Strategy Operations, APAC of VT Markets. This article was written by Tareq Sikder at www.financemagnates.com.
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Few assets have had as wild of a journey over the past decade as Bitcoin, with the leading crypto poised to make further waves in 2024. Despite all its ups and downs, Bitcoin still reigns supreme with the largest cap of any crypto and unquestionable dominance amongst retail traders and adoption. With this in mind, it comes as no surprise that the upcoming Finance Magnates Pacific Summit (FMPS) will be featuring Bitcoin as well as cryptocurrencies at length as a dedicated content vertical.FMPS will be here in less than two weeks, with the doors swinging open on August 27-29 in Sydney Australia. Held at the International Convention Centre, the event will be drawing attendees from around the Asia-Pacific (APAC) region as well as globally. The event is expected to attract several different types of attendees, each of whom is available for face-to-face engagement, networking, or business: Forex/CFD BrokersInstitutional BrokersAffiliates & IBsTraders & InvestorsEducators & Market ExpertsFintech & Payments BrandsCrypto & Digital Assets BusinessesTechnology & Liquidity ProvidersPress/MediaRegulatorsStart-upsInvestors/VCsIn addition to crypto, FMPS will also be covering three other content verticals, including online trading, fintech, and payments. Each of these will be featured over two full days of exhibition across informative panels, workshops, keynotes, and more. These sessions will take place on the Centre Stage and Exchange Zone with the full-length agenda live for viewing. Attendees are also encouraged to explore one particular workshop of note, ‘Bitcoin's Journey: Past Performance and Future Trends’.Registration for FMPS is available for a limited time only! To reserve your seat to APAC’s biggest event of the year head on over to the event website and register today! Skip the queues on-site and make sure to sign up in advance. Is the Next Bitcoin Bull Run Around the Corner?It is impossible to know where you are going if you do not know where you come from, and Bitcoin is no exception. FMPS will have several presentations focus on cryptos, though one in particular will track Bitcoin's fascinating evolution, from its revolutionary inception to its position as a pivotal force in global finance.You cannot afford to miss the session, ‘Bitcoin's Journey: Past Performance and Future Trends’. This panel will be held on August 28 at 16:10-16:30 at the Exchange Stage, run by Tai Jiang, Chairman and CEO at FX168 Finance Group.As a professional investor with 30 years of experience in the financial and investment industry, Mr. Jiang is ideally suited to explore the latest trends on Bitcoin. He is a seasoned expert in corporate market value management, holding financial licenses in China, Canada, and other regions. He has also been a Guest Professor at Zhejiang University of Technology, external advisor for graduate students at the School of Public Economics and Administration at Shanghai University of Finance and Economics, and at the International Business School at Southwestern University of Finance and Economics.Workshop participants can uncover key historical milestones and market dynamics and examine emerging trends, the regulatory field, and the growing role of institutional investors. Attendees can also expect to gain a thorough understanding of Bitcoin's potential and transformative impact.See you in Sydney in less than two weeks!This article was written by Jeff Patterson at www.financemagnates.com.
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Evest, a multi-asset online trading platform, announces its new milestone of achieving 1 million registered clients on its sophisticated and tech-advanced wealth management solutions portfolio. This incredible achievement reflects Evest’s unwavering commitment to providing valuable financial insights, tools, and opportunities to its dedicated trading and investment community. Since its inception, Evest has demonstrated consistent growth and success. It is on a mission to democratize finance management and empower individuals to take control of their financial future. Marked by innovation and a strategic focus on delivering the best possible experiences for its registered clients, the 1 million mark solidifies Evest’s position as a trusted and reliable financial planning partner. A wave of excitement runs through the organization, highlighting esteemed clients' immeasurable trust and support. Celebrating the success, Ali Hasan, CEO of Evest, said, “Our registered clients community is at the core of everything we do at Evest. We have achieved this monumental feat because of their unwavering support, and they continue to motivate us to reimagine investment strategies and create boundless opportunities. Each registered client brings unique perspectives, aspirations, and goals, contributing to the richness and diversity of our platform. We are deeply grateful for our registered client's trust in us and their active participation in making Evest a dynamic and supportive environment for traders and investors of all proficiency levels. Thank you for being an integral part of our journey.”Beyond the 1 million mark, the milestone achievement represents a vibrant, engaging, and diverse community of individuals who conform to Evest’s vision and value their services. It underscores Evest’s commitment to providing a tech-advanced, safe, and trustworthy trading platform, indicating impact and highlighting its reputation as an expert finance and investment planning partner. While the leading investment platform basks in the success of connecting 1 million registered clients with new-age financial management solutions, the milestone also serves as a reminder to continue delivering excellence aligned with seamless experiences and upgraded knowledge. Ali Hasan continues, “With immense gratitude, we would like to thank each of our registered clients. Their support, feedback, and engagement have been instrumental in our success. Together, we have built an extraordinary liaison and are excited to see what the future holds for us and our incredible community.” This milestone further boosts Evest’s unprecedented approach in the CFD online trading industry as the future beckons with renewed vigor. Evest stands committed to providing valuable resources, cutting-edge tools, and exceptional customer service to help its users achieve their financial goals. For further information, log onto https://www.evest.comAbout Evest:Established in 2020, Evest is an online investment trading platform that provides seamless trading and wealth management experiences to traders and investors worldwide. Its comprehensive and user-friendly interface, bolstered by timely and accurate market data, makes it a trusted partner for all trading needs.Evest’s highly knowledgeable, trained, and bi-lingual customer support team efficiently resolves client issues with quick turnaround. While the platform is secured with the most advanced firewalls, Evest prioritizes protecting client personal data and financial resources.This article was written by FM Contributors at www.financemagnates.com.
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Bybit has announced its expansion into Latin America. Thecompany has registered as a Virtual Asset Service Provider (VASP) and cardoperator in Argentina. This move makes Bybit one of the first to offer a fullrange of digital asset services in the Argentinian market.Argentina's recent establishment of the VASP registry marksa step forward in regulating the cryptocurrency sector. Bybit’s registrationhighlights its intention to follow local regulations and offer a secureplatform to users.Argentina Embraces Digital AssetsAs a VASP and card issuer, Bybit can now provide variouscrypto-related services to users in Argentina. This development comes asArgentina faces economic difficulties and recently approved a company to usecryptocurrency as registered capital. This approval by the Argentine GeneralInspectorate of Justice shows Argentina's growing acceptance of digital assets."This achievement marks a significant step forward inour mission to provide accessible and secure digital asset services to usersworldwide and our commitment against financial crime. Bybit is committed tosupporting Argentina's economic growth and empowering its citizens through thepayment capabilities and potential of blockchain technology," said BenZhou, Co-Founder and CEO of Bybit.Meanwhile, the Argentinegovernment has established a registry for Virtual Asset Service Providers,requiring the registration of cryptocurrency exchanges and related companies.This move follows recent developments under President Javier Milei, whoinitially supported cryptocurrencies but is now facing criticism.The new regulations, which include changes to anti-moneylaundering and counter-terrorism financing laws, were enacted on March 14 afterapproval by the Argentine Senate, as reported by Finance Magnates.Adhering to Local RegulationsBybit's entry into the Argentinian market aims to enhancethe country's financial landscape with accessible and secure digital assetsolutions. The company emphasizes the security of user assets, implementingmeasures to protect funds and data. Bybit adheres to Argentina's anti-moneylaundering and counter-terrorism financing regulations.With its global infrastructure and liquidity, Bybit providesArgentinian users access to a variety of digital assets andcryptocurrency-backed payment cards, catering to their needs.This article was written by Tareq Sikder at www.financemagnates.com.
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Floki has partnered with Nottingham Forest football club, which currently is playing the English Premier League (EPL). Announced on Thursday, Floki will be the official cryptocurrency partner of Nottingham Forest and have extensive marketing and promotional rights.“We are proud to join the ranks of the Premier League with a club that is an institution in world Football,” a media representative of Floki said. “Just as Nottingham Forest are building a future as a dominant force in world football, Floki is on the same journey to establish itself as one of the most successful brands in its sector, constantly challenging and innovating with brands like Valhalla.”During all home games, the Floki brand mark will be featured for three minutes on camera-facing LED boards from kick-off to the final whistle. This ensures that the Floki brand is seen by both stadium audiences and TV viewers.The Floki logo will also be prominently displayed. It will appear in four slots on official Premier League interview backdrops at each home match and in four spaces on press conference backdrops used throughout the season.Floki will have a strong presence on Nottingham Forest's social media channels. The brand will be mentioned in posts related to full-time scores for both the men’s and women’s senior teams and in all substitution announcements.Additionally, Floki will have a full-page presence in the matchday programmes distributed at each home game, and its logo will be displayed on the front cover. This helps connect Floki to the matchday experience and the fans.Fans can look forward to exciting offerings, such as signed merchandise. At the end of the season, Floki will offer fans the chance to participate in a ‘play on the pitch’ experience at the stadium.Paul Bell, Nottingham Forest's Chief Operating Officer (COO), said, “We are delighted to welcome Floki as an official partner and look forward to working closely with them as we head into the 2024/25 season. As one of the most innovative companies within this sector, we're excited to work collaboratively with the Floki community.”Popularity of EPLEnglish Premier League (EPL) is the most popular sports league in the world. It has more viewers than both the UEFA Champions League and the Bundesliga combined. In the 2022/23 season, the EPL had a total audience of 3.23 billion people. These games were broadcast to 712 million households in 190 countries.According to Nielsen, 2.01 billion viewers watched live match broadcasts over the season. Additionally, 1.22 billion viewers tuned into highlight shows and other related programming. English Premier League clubs also have a massive following on social media with over half a billion followers spread across Facebook, Instagram, TikTok, X, and YouTube.Nottingham Forest's HistoryFounded in 1865, Nottingham Forest is a club with a rich history. It is one of only eight clubs, including Liverpool, Ajax, Bayern Munich, and Real Madrid, to have won back-to-back European championships. Nottingham Forest also has a strong online presence, with over 4.5 million followers on various social media platforms. This includes one million fans on Facebook, 670,000 followers on X, one million followers on Instagram, 1.2 million followers on TikTok, and 184,000 subscribers on YouTube.About FlokiFloki (https://floki.com/) is the people’s cryptocurrency and utility token of the Floki Ecosystem. Floki aims to become the world’s most known and used cryptocurrency, focusing on utility, philanthropy, community, and marketing. Floki currently has over 490,000 holders and a strong brand recognized globally thanks to strategic marketing partnerships.This article was written by FM Contributors at www.financemagnates.com.
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Trading 212, a fintech firm offering cash equities andcontracts for differences (CFDs), acquired FXFlat Bank GmbH in an expansioninto the German market, the latter announced. This acquisition aims to provideGerman investors with access to Trading 212's zero-commission investingplatform, an offering promising to disrupt traditional brokerage models in theUK and Europe.Trading 212’s ExpansionThe acquisition of FXFlat Bank GmbH represents a leap for Trading 212. Known for zero-commission investing, Trading 212 hasbuilt a reputation across the UK and Europe. The latest acquisition allows the company to operate within Germany through a fully licensedGerman entity.The companies are reportedly working to integrate Trading 212’s trading and investing platform into the German market soon. While FXFlat will temporarily pause onboarding newclients during this transition, existing clients will continue to receive fullsupport."We are thrilled to announce that FXFlat Bank GmbH has beenacquired by Trading 212 Group Limited (‘Trading 212’), one of thefastest-growing fintech companies in the UK and Europe and a pioneer inzero-commission investing," FXFlat Bank mentioned on its website."This acquisition marks an exciting new chapter, as itallows us to bring Trading 212's exceptional value and user experience toGerman investors through a fully licensed German entity."This year, Trading 212 obtained a crypto asset serviceprovider (CASP) license from the Cyprus Securities and Exchange Commission. Theregulator granted the firm’s local entity, Trading 212 Crypto Ltd, approval in May. The entity is separate from Trading 212 Markets Ltd. The mandate enables Trading 212 to provide exchange services between digital assets and fiat currencies, as well as crypto custodial services. Expanding Business GloballyBesides that, Trading 212 expanded its business with amulti-currency payment card for users in the UK. The company partnered withPaynetics, an e-money services provider, to offer a payment card with acashback of 1.5% until the end of September and then reduce it to 0.5%The London-based brokerage firm also announced plans to introduce card services in the UK. Branded 212 Card, this offering promised aninterest rate of 5% APY daily and a cashback offer of 0.5%up to £20 monthly.Trading 212's cards also enables global transactions,reportedly with a foreign exchange fee of 0.15% and no fees charged onweekends. This approach to currency exchange enables users to manageinternational transactions. Trading 212 was founded in Bulgaria in 2004 as Avus Capital but was later incorporated in the UK in 2013.This article was written by Jared Kirui at www.financemagnates.com.
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Global payment company plans to expand its services inLatin America with the latest license application in Brazil. This month, thecompany applied for a Payment Institution License in Brazil, seeking to offerlocalized payment services and enhance its real-time payment capabilitiesthrough Pix. Licensing and PartnershipsAdditionally, the company is seeking FX authorizationto boost its foreign exchange services, according to a statement released(today). These licenses are expected to boost client confidence in Nium's riskmanagement and compliance standards, ensuring secure transactions.Speaking about the expansion strategy, Prajit Nanu,the Founder and CEO of Nium, said: "Latin America is a key player inglobal marketplaces, especially in connections with Asia and Europe. "Our investments and expansions in the region reflect our commitmentto its dynamic growth."Nium's recent partnerships include a notablecollaboration with BS2, a Brazilian digital bank. BS2 will utilize Nium'sGlobal FX product to streamline FX costs and enable real-time payouts betweenBrazil and major trading partners like China and the UAE. This partnership also integrates BS2 into Nium'snetwork as a Brazilian Real (BRL) Correspondent Bank, facilitating real-timePix payments. Since its entry into the region in 2017, Nium has secured clientssuch as Ouribank and Treviso. The company's expanded partnership with Ebury alsooffers a new global remittance service in Brazil, designed to deliver fast andaffordable cross-border payments.Joining Industry Associations Nium has also joined ABRACAM, the Brazilian ExchangeAssociation, which will provide access to regulatory insights and industryresources. This membership aligns with Nium's goal of contributing to Brazil'sfinancial ecosystem and influencing policy development.Latin America's cross-border payment market isexperiencing robust growth. A McKinsey report highlights double-digit growth intransactions between 2021 and 2022. The Central Bank of Brazil's Pix system has seenremarkable adoption. It processed R$11.8 trillion in transactions in the firsthalf of 2024 alone, with record transaction days.Recently, Nium named Spencer Hanlon its Chief Operating Officer. Hanlon is responsible for expanding thecompany's operations globally. His experience includes leadership roles atBritish Airways and AirPlus International. Hanlon succeeded Pratik Gandhi.Elsewhere, Nium announced a new collaboration with Artajasa, one of Indonesia's premier payment infrastructure companies, thisyear. The agreement seeks to boost cross-border transactions between Indonesiaand the rest of the world, enabling real-time transfers.This article was written by Jared Kirui at www.financemagnates.com.
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Global Forex and CFD broker Axi has renewed its partnershipwith LaLiga club Girona FC for another two seasons. The broker initially joinedforces with the Spanish club at the start of the 2023/24 season, becoming theirOfficial LATAM Online Trading Partner. During this period, Girona FC achieved notable success,finishing third in LaLiga and securing a spot in the UEFA Champions League forthe first time in the club's history.Axi and Girona Extend PartnershipIn the spring, Axi introduced its first player activationcampaign with Girona, known as the Axi Penalty Challenge. This campaign wastargeted specifically at the LATAM audience and featured players Savio, YanCouto, and Paulo Gazzaniga. The challenge aimed to highlight both theirfootball skills and their knowledge of trading.Exciting news! We’re renewing our partnership with Girona FC for two more seasons! As their Official LATAM Online Trading Partner, we can’t wait to kick off the 2024/25 season and bring more unforgettable experiences to our traders worldwide! pic.twitter.com/q7IPSuVbLg— Axi (@axi_official) August 12, 2024Aside from Girona FC, Axi has established partnerships withother football clubs. The broker has been the Official Online Trading Partnerof Premier League Champions Manchester City FC and Manchester City Women since2020. They also sponsor Brazilian football club Esporte Clube Bahia. Last year,Axi added England International John Stones as its Brand Ambassador.Crypto CFD Trading SurgeIn March, Axireported a surge in trading volume for crypto contracts for differences(CFDs) to US$16.7 billion, up from US$7.6 billion in January and US$10.4billion in February, as reported by FinanceMagnates. The broker executed 1.5 million crypto CFD trades, with 10% ofMarch trades being crypto-related. This marked a tenfold increase fromJuly-September averages. The growth is attributed to a significant rise inactive crypto CFD traders, mainly driven by existing clients shifting towardscrypto due to market volatility.This article was written by Tareq Sikder at www.financemagnates.com.
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Forex brokers face the challenge of developing and maintaining a brand that is truly unique from their competitors. Gaining brand recognition through awards can enhance your brand's reputation in the financial services industry by providing legitimacy, visibility, and acknowledgement. How winning awards can strengthen your brand’s position in the financial services sector:Strengthens Brand CredibilityAwards are a strong endorsement from the industry. For forex brokers and online trading platforms, receiving an award confirms brand excellence and guarantees high-quality services and reliability to clients and partners alike.Enhances Brand VisibilityThe recognition process, including announcements and promotional activities, boosts your brand’s visibility to a wider audience, including media, potential clients, and industry professionals. This increased visibility helps your brand stand out among your competitors.Builds Client TrustAwards are excellent social proof. Within the financial trading industry, where trust is everything, having an award from an esteemed organisation should inform your clients that your brokerage holds recognition and recommendations from peers and key opinion formers in the industry. That will help enhance their confidence in choosing your services.Differentiates Your BrandReceiving awards can distinguish your brand from others. They showcase your strengths and accomplishments, such as advanced trading technology, exceptional customer service, or innovative solutions. This sets your brand apart and makes it more attractive to potential partners and clients.Supports Marketing EffortsIncorporating award wins into your marketing strategy will enhance your promotional efforts. Featuring awards in your marketing campaigns, on your website, and across social media can attract more attention and engagement from potential clients, leveraging the prestige of the award to enhance your marketing messages.Affirms Your Market PositionThe awards process, involving both community and expert evaluations, confirms your brand’s standing in the industry. This thorough validation ensures that your brand meets high industry standards and provides assurance to clients about your market position.Encourages Continuous InnovationThe competitive nature of awards encourages ongoing improvement and innovation. The feedback and recognition from awards can drive your organization to refine its offerings and stay ahead of industry trends, maintaining a competitive edge.Builds Positive Brand Associations Winning an award helps to associate your brand with excellence and leadership. This positive association enhances your overall reputation in the financial trading sector, influencing client perceptions and attracting new business.Networking Opportunities Award events, such as the gala dinners where winners are announced, offer valuable networking opportunities. These events allow you to connect with other industry leaders, potential clients, and key stakeholders, potentially leading to new business opportunities and partnerships.Boosts Employee Morale Brand Recognition through an award has a positive impact internally. Employees feel gratified to be part of an award-winning organization, which can enhance motivation and job satisfaction. This increase in morale can lead to improved performance and employee retention.Spotlight on the Finance Magnates Annual AwardsThe Finance Magnates Annual Awards, powered by AWS, celebrate excellence and innovation within the financial sector. Nominations are still open, so take this opportunity to gain industry recognition and showcase your achievements. Nominate your brokerage today and be part of this prestigious event. The awards process is transparent, democratic, and inclusive, with 50% of the votes from the community and the other 50% from a panel of judges.Here’s how receiving a Finance Magnates Award can specifically benefit your brand:Credibility: The Finance Magnates Annual Awards are known for their rigorous evaluation and recognition…
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In March 2023, SEC Chairman Gary Gensler describedArtificial Intelligence as “the most transformative technology of our time, onpar with the internet and mass production of automobiles". When any groundbreaking tool arrives, a period of adaptationis required. This is more pronounced for regulators, who need to quicklyassimilate enough information to not only understand, but eventually govern thetechnology in question. Meanwhile, that technology permeates the industry at abreakneck pace and new habits are established, for better or worse. The role of regulators, already under pressure, becomes evenmore challenging with the advent of artificial intelligence. AI introducessignificant complexity and responsibility, making effective governance crucial.This is a pivotal moment in human development, with lessons to be learned forvarious sectors, including finance.Below we’ll analyse the regulators’ current positions,existing frameworks that AI already falls into, and where its regulation couldbe heading. Regulators’ Positions SEC: In July 2023, SEC Chairman Gensler raisedconcerns about AI in investment decisions, highlighting risks of tech platformdominance and potential biases in AI models. His scepticism was notable giventhat AI-generated misinformation had falsely suggested his resignation.In June 2024, the SEC's Investor Advisory Committee held apanel discussion on the use of AI, and Gensler reiterated his concerns,stressing that it could lead to conflicts of interest between a platform andits customers. He also emphasized that fundamental requirements still apply,and “market participants still need to comply with our time-tested laws”. Despite this, there had been little concrete guidanceprovided up to that point, with some proposals discussed last year remainingunder consideration. FINRA: In the 2024 FINRA Annual Regulatory OversightReport, FINRA explicitly classified AI as an ‘emerging risk’, recommending thatfirms consider its pervasive impact and the regulatory consequences of itsdeployment. Ornella Bergeron, FINRA senior vice president of membersupervision, said that despite the operational efficiencies afforded bydevelopments in AI, there were worries. “While these toolscan present really promising opportunities, their development has raisedconcerns about things like accuracy, privacy, bias and intellectualproperty." In May 2024, FINRAreleased updated FAQs to clarify its stance around AI-created content. Theseessentially stressed that regulatory standards still applied, and firms wereaccountable for their output regardless of whether it was generated by humansor AI.CFTC: The Commodity Futures Trading Commission (CFTC)has been relatively active around AI. In May, it released a report entitled“Responsible Artificial Intelligence in Financial Markets: Opportunities, Risks& Recommendations.” This seemed to signal the CFTC’s desire to oversee thespace. The agency was concerned that AI might undermine publictrust in financial markets due to its opaque decision-making. While the CFTCwas ready to lead, the report emphasized ongoing federal collaboration andsuggested public roundtable discussions to enhance understanding and developtransparent policies.How Are Existing Frameworks Impacted? Fundamental recordkeeping regulations like the SEC MarketingRule and FINRA rule 2210 put strong emphasis on the accuracy and integrity ofinformation that a firm communicates to its customers. The use of AI tools maywell jeopardize these tenets due to the unpredictable and often inaccuraterhetoric that language models have built a reputation for. As FINRA earlier clarified, it is the content itself thatfirms will be held accountable for – the tools that are used to create it arenot necessarily relevant. This means that at the very least, allmachine-generated output should be reviewed thoroughly before publication. AI-Washing Despite much regulation around AI barely reaching theproposal stage, we have already begun to see enforcement in some relevantareas. Individual investors should know that…
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