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Retail FX

Investors Sue Owners of Defunct Broker FxWinning for $28M, Allege Fraud

  • One of the firm's websites, fxwinning.net, ceased operation in late June.
  • FxWinning lists UBS, Citi and Barclays as some of its liquidity suppliers.
Wednesday, 02/08/2023 | 17:08 GMT by Solomon Oladipupo
Retail FX

XTB’s Net Profit Plunges 12.2% in H1 despite Record New Clients

  • XTB blamed the lower revenue and profit on lower volatility during Q2.
  • The broker onboarded 167,000 or 65.5% more new clients during H1.
Wednesday, 26/07/2023 | 18:23 GMT by Solomon Oladipupo
Retail FX

London-Based ForexVox Moves 94% of Clients to MT5 amid Rising Competition

  • ForexVox has been operating since 2020.
  • The firm wants to provide 'unparalleled support' to traders worldwide.
Wednesday, 26/07/2023 | 13:22 GMT by Solomon Oladipupo
Retail FX

ATFX UK’s Profit Surges by Almost 300% to £838K in 2022

  • The subsidiary's turnover jumped 7.6% to £3.2M.
  • ATFX has expanded to Australia and the UAE.
Tuesday, 25/07/2023 | 21:08 GMT by Solomon Oladipupo
Retail FX

Darwinex Seeks Growth through New Integration with Interactive Brokers

  • Darwinex wants to attract more talented traders.
  • The UK asset manager recently launched a subscription-based trading platform.
Monday, 24/07/2023 | 16:05 GMT by Solomon Oladipupo
Retail FX

Why I Gave Up My CEO Role to Become CIO: NAGA's Founder Ben Bilski

  • NAGA's vision remains to build an all-in-one platform, says Bilski.
  • The new Group CEO: "We have owned our decisions in the past three years."
Monday, 10/07/2023 | 20:45 GMT by Solomon Oladipupo
CryptoCurrency

Denmark’s FSA Orders Saxo Bank to Dump Crypto Holdings

  • The watchdog said the law does not permit Saxo Bank's engagement in crypto trading.
  • In other news, Saxo Bank saw a decline of 8% in its FX trading volume in June.
Wednesday, 05/07/2023 | 12:57 GMT by Solomon Oladipupo
Retail FX

UK CFDs Broker City Credit Capital Goes Bankrupt, Enters Administration

  • FCA appointed joint administrators for the firm last Friday.
  • CCCUK operated under the trading names CIX Markets and Markets Trader.
Tuesday, 04/07/2023 | 16:10 GMT by Solomon Oladipupo
Executives

Finalto Group's CCO Stavros Anastasiou Appointed Markets.com's CEO

  • Anastasiou previously served as the CCO at the retail brokerage unit of Finalto.
  • In other news, Exclusive Markets named Afa Haghdoust as its new Chief Commercial Officer.
Friday, 30/06/2023 | 18:13 GMT by Solomon Oladipupo
Executives

OANDA Taps Rafał Słoń as Managing Director for Australia

  • Słoń joined the broker as the Business Operations Lead three years ago.
  • MultiBank and Admirals recently welcomed two industry veterans.
Wednesday, 21/06/2023 | 21:00 GMT by Solomon Oladipupo
Executives

Admirals Hires SquaredFinancial’s Daniel Skowronski as Revenue Chief

  • Skowronski brings over 25 years of experience to the new role.
  • Previously, he led OANDA and Alpari as the CEO of EMEA and UK, respectively.
Thursday, 15/06/2023 | 17:02 GMT by Solomon Oladipupo
Retail FX

SVG Brokers Seek New Home in Other Jurisdictions after Regulator's Deadline

  • FSA introduced the policy in the wake of rising fraud claims against FX trading firms.
  • However, some see the rule as a 'checkbox exercise'.
Tuesday, 13/06/2023 | 18:59 GMT by Solomon Oladipupo
Retail FX

Saxo Bank’s FX Volume Springs 27% to $130.5B in May

  • However, the new volume stands below March's figure of $155.5 billion.
  • Overall, trading volume strengthened 28% to $407 billion.
Wednesday, 07/06/2023 | 14:32 GMT by Solomon Oladipupo
Retail FX

Pandemic, Profits, and Potential: Analysis of the Polish and CEE Retail Trading Boom

  • CEE is home to 300 million people, 40% of Europe's population.
  • More and more people are choosing to trade, not just with CFDs.
Monday, 05/06/2023 | 09:57 GMT by Damian Chmiel
Retail FX

FinCom Discontinues BalansFX Membership over Compliance Failure

  • BalansFX became an approved member of FinCom in July 2020.
  • Meanwhile, FinCom warned against TresorFX, a platform recently flagged by the FCA.
Wednesday, 31/05/2023 | 13:34 GMT by Solomon Oladipupo
Retail FX

FCA Flags 26 Illegal Trading and Investment Platforms

  • The watchdog flagged three clone platforms for impersonating authorized firms.
  • The platforms are mainly online FX trading platforms.
Monday, 29/05/2023 | 17:19 GMT by Solomon Oladipupo
Retail FX

UK Court Finds Boss of FX Scheme CWM Guilty of £70M Fraud

  • Anthony Constantinou fled during the trial period, the prosecutor said.
  • The former Managing Director was sentenced in absence.
Monday, 22/05/2023 | 18:37 GMT by Solomon Oladipupo
Executives

Trade Nation Elevates Richard Nathan to Bahamas CEO

  • Nathan brings over a decade of experience to the new role.
  • The executive previously worked for OvalX, Hartmann Capital and Acetop.
Monday, 22/05/2023 | 14:05 GMT by Solomon Oladipupo
Retail FX

Admirals Group to Withdraw Estonian License amidst Global Consolidation

  • Admirals said it will merge the subsidiary with the parent company.
  • The firm also plans to repurchase €1.9M of its Tier 2 bonds.
Thursday, 18/05/2023 | 16:15 GMT by Solomon Oladipupo
Retail FX

24HR Trading Academy Victims Lost £1.3M; Court Approves £106K Refund

  • Only investors with losses above £500 are to be paid.
  • The FCA initiated a case against Mohammed Maricar, the scheme operator, in April 2020.
Wednesday, 17/05/2023 | 14:38 GMT by Solomon Oladipupo
Retail FX

XTB Founder Sells $64M Shares in Company

  • The sale was done directly by the investment firm XX ZW owned majorly by Jakub Zablocki.
  • The transaction came as XTB reported a record profit during Q1 2023.
Tuesday, 16/05/2023 | 18:50 GMT by Solomon Oladipupo
Retail FX

Exness and RoboMarkets Sign New Sports Sponsorship Deals in Cyprus

  • The sports involved are the Wakesurf Championship and the European Sporting Championships.
  • RoboMarkets strengthens its sports presence in Cyprus with the new deal.
Thursday, 11/05/2023 | 13:53 GMT by Solomon Oladipupo
Executives

Oval Money’s Daniel Gladding Joins eToro UK as Chief Risk Officer

  • Ex-OvalX execs are taking up roles at other firms after the broker shut down in March.
  • Gladding previously worked for Admirals, StoneX and IG Group, among others.
Tuesday, 09/05/2023 | 15:46 GMT by Solomon Oladipupo
Retail FX

CySEC Revokes ICF Membership of Brokerages Trilt and RMG Holdings

  • Trilt and RMG's licenses were withdrawn last month and in April 2022, respectively.
  • ICF compensation is open to clients of both firms covered before the termination.
Tuesday, 09/05/2023 | 13:08 GMT by Solomon Oladipupo
Executives

SquaredFinancial’s Deputy CEO Husam Al Kurdi Departs to Start New Venture

  • Al Kurdi joined SquaredFinancial in 2019 after seven and a half years at ADSS.
  • He will remain with the brokerage as an advisor and collaborator,
Saturday, 06/05/2023 | 13:33 GMT by Solomon Oladipupo
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