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Retail FX
Prop Firm TradersWithEdge Brings Back MT5 with Trading Promotions
2024-09-18T11:21:02.157+02:00
The firm launches 2-for-1 deal on challenge accounts alongside MT5 reintroduction.
Regulators, including ASIC, are increasing scrutiny on prop trading firms and CFD distribution channels.
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Retail FX
Prop Firm QuantTekel Introduces Broker Services after Rebranding from AscendX Capital
2024-09-16T13:16:41.229+02:00
AscendX Capital, active since November 2023, had signalled upcoming changes recently.
The firm is transitioning to a full broker and expanding its Prop Firm services.
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DXtrade XT Ramps Up Prop Trading Tools for Brokers and Firms
2024-09-13T15:52:34.879+02:00
The platform now allows prop firms to set custom session end times for traders.
The firm has expanded its partnership with Centroid Solutions to support DXtrade CFD on Centroid Risk.
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Retail FX
Prop Firm Gold Fund Trader Pulls the Plug after $600 in Sales and Funding Setbacks
2024-09-13T11:40:27.807+02:00
The firm halts operations following delays and the withdrawal of a key investor.
Of 160 accounts, 158 were through giveaways, with 90 active but no funded accounts or pending payouts.
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Retail FX
Wall Street Trader Alexander Gerchik Jumps into Prop Trading with New Platform
2024-09-12T11:12:38.988+02:00
Traders can access capital ranging from $5K to $100K and keep 80% of their profits.
Prop trading is gaining traction, with brokers such as OANDA, Axi, and Hantec Markets expanding into this area.
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Retail FX
Tradu Integrates TradingView’s Real-Time Data and Custom Charting Features
2024-09-12T10:12:24.450+02:00
Users can utilize over 110 drawing tools, 100 technical indicators, and various chart types.
Tradu has launched a crypto exchange with over 40 coins, including Bitcoin and Ethereum.
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Executives
Admirals Veteran Takes on Head of B2B Role at NAGA after 3 Years
2024-09-11T17:04:25.055+02:00
Eugene Danishkin was COO of a fintech B2C company and held senior roles at FX brokers.
He also continues to run his own consulting firm, MBC Ltd., based in Cyprus.
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Retail FX
Hirose UK Achieves 79.7% Surge in Net Profit despite 1% Revenue Growth
2024-09-10T14:05:39.814+02:00
For the fiscal year 2024, the firm reported a 2.6% increase in profit before tax.
The net profit for the year increased to £530K up from £295K in the previous year.
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Retail FX
Finalto South Africa Launches White Label Solution for Rapid Brokerage Setup
2024-09-09T12:08:15.773+02:00
The solution allows the setup in a month with customizable features and top-tier liquidity.
It is platform-agnostic and includes reporting tools, and risk controls.
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Executives
Global Head of Sales at BDSwiss, with Past Roles at FXGM and FxGrow, Steps Down
2024-09-06T14:20:25.313+02:00
Marios Morfakis has resigned from his position after serving for 1 year and 8 months at BDSwiss.
BDSwiss has secured a UAE SCA Category 5 license, for its MENA forex and CFD services.
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Executives
Markets.com’s Head of MENA Ali Makki Departs after Nine Months
2024-09-05T16:27:47.285+02:00
Makki has not yet disclosed his next steps but expressed readiness for new challenges.
Earlier, the firm promoted Elena Christodoulou to Head of Europe.
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Retail FX
DXtrade Steps Up Partnership with Centroid for Brokers' Risk Management
2024-09-05T10:26:23.189+02:00
The expanded collaboration is to utilize Centroid Risk for portfolio insights and risk mitigation.
Centroid’s bridge engine offers DXtrade brokers access to over 250 market makers.
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Retail FX
Prop Trading Industry Is Divided on “Gamification” amid Consob's “Video Game” Remark
2024-09-04T15:40:00.000+02:00
Consob is concerned about the rise of prop trading firms and linked them to “video games.”
One prop trading executive said, “I don’t really agree with the ‘video game’ label,” while another called Consob’s warning “necessary and timely.”
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Retail FX
IC Markets Gets Hit Again with €50K Fine from CySEC after €200K Penalty
2024-09-04T15:20:58.230+02:00
The regulator has imposed the fine for not meeting standards for client order execution and cost transparency.
Earlier, the firm was fined by the regulator for exceeding the EU’s 30:1 leverage limit.
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Retail FX
XTB Establishes Sponsorships in UAE Boxing and Greek Economics Olympiad
2024-09-03T17:15:03.010+02:00
The firm has sponsored the Polish young economists' team at the Economics Olympiad.
Details of XTB's sponsorship agreements in both the UAE and Greece have not been disclosed.
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IUX Signs First Sports Partnership as Official Trading Partner of Fulham FC
2024-09-03T11:51:03.848+02:00
Founded in 2016, the firm offers currencies, stocks, indices, cryptocurrencies, and commodities.
Recently, the firm rebranded from IUX Markets, introducing a new logo and domain.
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Executive Moves
Tickmill Appoints New Managing Director and Head of Partnerships for MENA
2024-09-02T15:26:23.274+02:00
Joseph Dahrieh served as Managing Principal and Country Manager at Tickmill.
Elie Tarabay, formerly Senior Manager Client Partnerships, has been promoted.
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Retail FX
Admirals Group Cuts Operating Expenses by 9% and Improves Net Loss in H1
2024-08-30T14:45:13.011+02:00
The firm increased trading revenue by 4% and achieved positive EBITDA.
Last April, it suspended customer onboarding for its EU operations to comply with CySEC.
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UP Fintech Reports $87M Revenue and $106B Trading Volume in Q2
2024-08-30T11:16:57.507+02:00
The firm achieved $5.2M in non-GAAP net income and reported a $7B net asset inflow.
Commission income was $34.1 million, while the total account balance grew to $38.2 billion.
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LiteFinance Scores Big in Multi-Year Partnership with Leicester City
2024-08-29T18:52:47.578+02:00
The club has a strong global following, particularly in Southeast Asia.
Founded in 2005, LiteFinance provides trading services in 29 languages worldwide.
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Retail FX
Saxo Bank Reports 35% Profit Increase for H1 amid Restructuring
2024-08-29T13:27:40.675+02:00
The bank’s total income increased to EUR 311 million, despite low market volatility.
Client assets hit EUR 109 billion, with over 1.2 million clients as of June 2024.
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Executives
Former CEO of Morgan Stanley Europe Takes Over flatexDEGIRO AG
2024-08-28T18:54:52.738+02:00
Oliver Behrens will lead flatexDEGIRO AG and flatexDEGIRO Bank AG from October.
Earlier, he was a Member of the Board at Deka-Bank and served as Deputy CEO.
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iSAM Securities Moves Barry Flanigan up the Ladder to Head of Asia Pacific
2024-08-28T14:04:32.022+02:00
Flanigan has been at iSAM Securities for over nine years, most recently as Head of Electronic Trading.
He joined iSAM in 2009, holding roles like FX Operation and Integration and Senior Operations Analyst.
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Retail FX
AvaTrade Expands to Latin America with Colombian Regulatory Approval
2024-08-27T15:38:13.823+02:00
Founded in 2006, the firm now operates 20 offices worldwide, supporting over 400,000 traders.
The Financial Superintendence of Colombia has authorized the firm for its expansion.
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Retail FX
Webull UK Launches Exchange-Traded Options and New Savings Features
2024-08-27T11:05:42.368+02:00
Options trading has followed the recent introduction of Webull Savings for UK users.
The firm has extended 24-hour trading to Thailand after launching the feature in Malaysia.
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