Dukascopy Launches Gold-Based Accounts and MT4 Tests a New Feature
- Also making headlines this week are the revenue reports of Plus500 and Playtech's Financial Division, as well as that of Monex.
Some of the best stories on Finance Magnates over the past week involved the increased Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term in many markets around the world due to the various market shocks coming out of China. Other top stories include developments related to international brokers, Dukascopy and TradeNext, as well as a major new feature on MT4 that can change the supporting ecosystem.
TradeNext Troubles
On Monday, it was reported that London headquartered brokerage, TradeNext, launched an internal review after terminating several relationships with clients.
Some of TradeNext's customers recently received termination notices, after their relationship with the firm had been placed under a thorough review by the broker. Finance Magnates also learned that TradeNext's owners could be looking for a potential investor in the company.
Hot Summer
On Tuesday, Japanese Monex Group, which is behind brokerages Monex and TradeStation, reported its July revenue figures. The report marked a second consecutive monthly increase during the first month of the summer.
The period is typically characterized by slower activity and a reduced number of opportunities for clients. However, as this summer is proving, there are exceptions to the rule as volatility has sharply risen in the aftermath of previous policy moves by China.
On that same day, the Chinese central bank decided to cut reserve requirement ratios for banks and benchmark interest rates in a move that sent the U.S. dollar rallying.
Safe Haven
On Wednesday, Swiss brokerage Dukascopy Bank announced the introduction of a new base currency for all of its clients in Switzerland, gold (XAU).
With the new option for traders looking to hold on to what has been considered the ultimate safe haven asset, Dukascopy Bank provides its clients with an alternative to storing physical gold. The offering does come with a price however – traders who choose gold as their base currency will get charged a 1 percent interest rate per annum.
Playtech's Financials
On Thursday, Playtech reported its H1 2015 results showing that revenues at Markets Limited were $48.2 million during H1 2015, an increase of 60% compared to the same period in 2014.
During the H1 period, Playtech completed its acquisition of TradeFX (renamed Markets Limited), while transactions for Plus500 and AvaTrade are expected to be completed in September.
At the same time, Plus500 reported its H1 2015 results, showing a net profit of $40.6 million on revenues of $127 million. Overall, despite revenues growing 20% from the same period in 2014, net profit was lower by 25%.
Built-In Mt4 Web Trader
On Friday, we reported that MetaQuotes is testing web trading support in the latest build of the beta version of the MT4 platform. The current version of the web Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term is somewhat limited in its functionality, but in an official forum posting the company pledges to expand its functionality.
A built-in solution for non-windows systems should please a number of brokers, but could also possibly lead to concerns for various developers of web-based alternatives services that allow running the MT4 platform from a browser.
Some of the best stories on Finance Magnates over the past week involved the increased Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term in many markets around the world due to the various market shocks coming out of China. Other top stories include developments related to international brokers, Dukascopy and TradeNext, as well as a major new feature on MT4 that can change the supporting ecosystem.
TradeNext Troubles
On Monday, it was reported that London headquartered brokerage, TradeNext, launched an internal review after terminating several relationships with clients.
Some of TradeNext's customers recently received termination notices, after their relationship with the firm had been placed under a thorough review by the broker. Finance Magnates also learned that TradeNext's owners could be looking for a potential investor in the company.
Hot Summer
On Tuesday, Japanese Monex Group, which is behind brokerages Monex and TradeStation, reported its July revenue figures. The report marked a second consecutive monthly increase during the first month of the summer.
The period is typically characterized by slower activity and a reduced number of opportunities for clients. However, as this summer is proving, there are exceptions to the rule as volatility has sharply risen in the aftermath of previous policy moves by China.
On that same day, the Chinese central bank decided to cut reserve requirement ratios for banks and benchmark interest rates in a move that sent the U.S. dollar rallying.
Safe Haven
On Wednesday, Swiss brokerage Dukascopy Bank announced the introduction of a new base currency for all of its clients in Switzerland, gold (XAU).
With the new option for traders looking to hold on to what has been considered the ultimate safe haven asset, Dukascopy Bank provides its clients with an alternative to storing physical gold. The offering does come with a price however – traders who choose gold as their base currency will get charged a 1 percent interest rate per annum.
Playtech's Financials
On Thursday, Playtech reported its H1 2015 results showing that revenues at Markets Limited were $48.2 million during H1 2015, an increase of 60% compared to the same period in 2014.
During the H1 period, Playtech completed its acquisition of TradeFX (renamed Markets Limited), while transactions for Plus500 and AvaTrade are expected to be completed in September.
At the same time, Plus500 reported its H1 2015 results, showing a net profit of $40.6 million on revenues of $127 million. Overall, despite revenues growing 20% from the same period in 2014, net profit was lower by 25%.
Built-In Mt4 Web Trader
On Friday, we reported that MetaQuotes is testing web trading support in the latest build of the beta version of the MT4 platform. The current version of the web Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term is somewhat limited in its functionality, but in an official forum posting the company pledges to expand its functionality.
A built-in solution for non-windows systems should please a number of brokers, but could also possibly lead to concerns for various developers of web-based alternatives services that allow running the MT4 platform from a browser.