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Executives

New Broker RaiseFX Hires INFINOX’s Dany Mawas as CCO

  • Mawas left INFINOX after two years and five months.
  • RaiseFX has established its presence in several African countries.
Friday, 05/05/2023 | 12:51 GMT by Solomon Oladipupo
Retail FX

CFI Financial Sees Record Growth in Volume, New Accounts in Q1

  • Volume and new accounts grew 57% and 147% YoY, respectively.
  • CFI plans to expand into new markets this year.
Thursday, 04/05/2023 | 13:21 GMT by Solomon Oladipupo
Retail FX

Saxo Bank’s FX Volume Down to Lowest since Dec 2021

  • The brokerage's FX volume declined 34% to $102.8 billion in April.
  • Additionally, institutional spot FX volumes declined across major regions last month.
Wednesday, 03/05/2023 | 15:51 GMT by Solomon Oladipupo
Executives

Hantec Markets to Launch Institutional Arm, Hires Institutional Sales Head

  • Lee Holmes joins Hantec from INFINOX and was a director at ATFX, Zenfinex and ForexVox.
  • He brings over 12 years of FX and derivatives markets experience to the role.
Tuesday, 02/05/2023 | 13:09 GMT by Solomon Oladipupo
Retail FX

Interactive Brokers’ DARTs Decreases 14% to 1.8M in April 2023

  • The American online broker's client accounts increased slightly 1% to 2.22M.
  • It generated an average commission of $3.18 per cleared commissionable orders.
Monday, 01/05/2023 | 19:00 GMT by Solomon Oladipupo
Retail FX

Tastytrade, LiteFinance Launch New Features

  • Tastytrade says its API empowers customers to build software applications.
  • LiteFinance's new mobile app for iOS offers several features to users.
Monday, 01/05/2023 | 17:07 GMT by Solomon Oladipupo
Retail FX

Admirals Strengthens African Presence with New Offices in Nigeria

  • The brokerage received a license in South Africa and Kenya last year.
  • Admirals posted a record year in 2022 with €69M in revenue.
Monday, 01/05/2023 | 15:10 GMT by Solomon Oladipupo
Retail FX

CySEC Withdraws CIF License of FX/CFDs Broker, Trilt

  • Trilt received its license from the Cypriot watchdog in October 2014.
  • CySEC has announced at least 5 CIF license withdrawals since January.
Friday, 28/04/2023 | 16:59 GMT by Solomon Oladipupo
Retail FX

Swiss Broker Dukascopy’s Profit Surges 200% to Second-Highest in History

  • The brokerage and retail bank's net profit hit CHF 6.4M in 2022.
  • Dukascopy attributes record to conservative asset allocation and liquidity mgt.
Thursday, 27/04/2023 | 18:16 GMT by Solomon Oladipupo
Retail FX

XTB Breaks Another Profit Record in Q1 2023, Acquires over 100,000 Clients

  • Broker's client base rose 46.1% in a year to 703,900.
  • After a weaker Q4, the last quarter brought all-time high numbers.
Wednesday, 26/04/2023 | 17:20 GMT by Damian Chmiel
Retail FX

FCA Finds “Gaps in Surveillance” among UK CFDs Providers

  • The FCA found weak surveillance of market manipulation and abuse of non-equity asset classes.
  • However, most of the regulator's findings 'were largely positive'.
Wednesday, 26/04/2023 | 16:41 GMT by Solomon Oladipupo
Retail FX

Spanish Regulator Flags ‘Pepper Stone’, ‘PRIMUS FX’, 7 Other Websites

  • The websites are clones of Pepperstone and FXPrimus.
  • CySEC also flagged down eight illegal FX/CFDs platforms on Monday.
Monday, 24/04/2023 | 20:01 GMT by Solomon Oladipupo
Retail FX

Jordan FA Cup to Be Renamed as CFI Partners Football Association

  • CFI will sponsor all major leagues under the JFA.
  • The brokerage sponsored the recent Mubadala World Tennis Championship.
Thursday, 20/04/2023 | 13:56 GMT by Solomon Oladipupo
Executives

Ex OvalX Seniors Move to BidX Markets, Trade Nation and Alvar

  • OvalX ceased operations on March 17, 2023, after selling assets to Capital.com.
  • Last week, Mark Foulds moved to Alvar Financial after over 20 years at OvalX.
Wednesday, 19/04/2023 | 20:39 GMT by Solomon Oladipupo
Retail FX

ThinkMarkets Bolsters APAC Foothold with New Zealand License

  • The broker launched in Japan in March 2022.
  • ThinkMarkets secured $30M early last year to boost its expansion.
Wednesday, 19/04/2023 | 18:39 GMT by Solomon Oladipupo
Retail FX

NAGA Seeks to Raise $8.2M in Convertible Bond

  • Upon full conversion, the bonds will raise NAGA's current share capital by 7.7%.
  • NAGA Group "incurred significant losses last year."
Monday, 17/04/2023 | 13:09 GMT by Solomon Oladipupo
Retail FX

Exclusive: Retail FX Broker TradedWell Shuts Down Website

  • The brokerage, which started running in 2020, closed its website on January 27, 2023.
  • TradedWell is the third CySEC broker to have encountered problems in the last 3 months.
Friday, 14/04/2023 | 14:23 GMT by Solomon Oladipupo
Retail FX

Tradier Gets $24.6M to Address “Graduation Effect” among Retail Traders

  • The retail broker plans to introduce a "market-first platform and content hub."
  • Tradier says it saw a record performance last year.
Thursday, 13/04/2023 | 15:06 GMT by Solomon Oladipupo
Retail FX

CySEC Slams €1M Fine on Itrade Global for Multiple Violations in Spain

  • The alleged violations were committed by its tied agent in Spain.
  • Some of them include dishonest practices and failure to prevent conflict of interest.
Thursday, 13/04/2023 | 13:07 GMT by Solomon Oladipupo
Institutional FX

US Firm Wedbush Expands into FX Prime Brokerage, Taps Jefferies Execs

  • The new unit is part of Wedbush Securities' FICCS division.
  • The FX prime brokerage team is being led by Michael Stone, ex-Jefferies Bache VP.
Wednesday, 12/04/2023 | 15:05 GMT by Solomon Oladipupo
Retail FX

MahiMarkets’ Product Aims at ‘Full Autonomy’ over CFD Pricing for Brokers

  • The enhanced product offers features, such as liquidity reduction and tight spread.
  • Eurotrader tapped MahiMarkets in December 2022 for better pricing and risk management.
Tuesday, 04/04/2023 | 19:56 GMT by Solomon Oladipupo
Executives

IG Group Hires NatWest Group’s Adam Wheelwright as CTO

  • Wheelwright has previously worked with UKHSA, Nomura, Dresdner Kleinwort and UBS.
  • The executive's appointment comes a day after IG Group agreed to acquire Small Exchange.
Tuesday, 04/04/2023 | 13:00 GMT by Solomon Oladipupo
Retail FX

DDoS Attacks on FX Brokers Spike; Cyprus Heavily Targeted

  • The Attackers Disrupt the Operation of Platforms and Demand Ransom
  • Though Most Solutions are Expensive, There are Some Ways to Protect Your Business
Thursday, 30/03/2023 | 15:53 GMT by Mate Ivanszky
Retail FX

Pepperstone UK’s Profit Surges 128% to £4.6M in 2022

  • The broker's revenue increased 36% to £10.7 million.
  • However, Pepperstone UK's profit and revenue fail to break above the 2020 output.
Friday, 24/03/2023 | 18:29 GMT by Solomon Oladipupo
Executives

Equiti Group Promotes Ahmad Qutaishat to Sales Vice President

  • Qutaishat brings about a decade of experience to the role.
  • The executive joined Equiti Group in October 2018 as Client Support Officer.
Wednesday, 22/03/2023 | 14:37 GMT by Solomon Oladipupo
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