During the passing week the most interesting stories from the online trading world included a new offering from FXCM, new CySEC licensed binary options brokers and one company’s renowned commitment to client safety.
On Monday we reported that Tradeo recently launched a new social brokerage under its own brand, after years of working in joint ventures with other brokers. The new website also operates under Tradeo’s own license from the Cyprus Securities and Exchange Commission (CySEC).
Originally started as a social trading platform developer, Tradeo raised a total of $10.5 million from American venture capital funds and from angel investors such as Gigi Levy. It has offices in Sofia, Cyprus and Tel Aviv and boasts 120 employees worldwide under its CEO Jonathan Adest.
On Tuesday FXCM (NYSE:FXCM) announced the rollout of the latest set of upgrades to its API solutions. The offerings are targeting algorithmic traders, technology and cloud providers and institutional clients.
Customers of the application have access to about 15 pre-built open source strategies and 53 indicators. FXCM is also providing its algorithmic trading clients 40 months worth of free data on over 80 instruments, with market, limit and stop-limit orders.
On Wednesday ThinkMarkets renewed its £1 million additional customer insurance protection, currently pegged as one of the most robust levels of compensation being deployed, relative to other brokers in the UK.
Faizan Anees, co-founder of ThinkMarkets, commented: “We are proud to be able to call our comprehensive and additional offer of £1 million insurance protection the highest amount currently available in the UK market. We take security very seriously and is a clear demonstration that we continue to strive for excellence in client service.”
On Thursday we reported that the London Stock Exchange (LSE) listed company Veltyco Group has signed a deal with Novox Capital which involves a marketing and revenue sharing agreement with ZoomtraderGlobal.
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The brand, which is part of the Cyprus Securities and Exchange Commission’s regulated parent firm’s portfolio, is using technology from binary options trading software provider Tradologic.
On Friday we revealed that RFXT has obtained a license from CySEC and signed a lease on its office premises in the heart of Limassol. The company is expecting its license activation in October.
ROYAL Group’s Chairman Rayan Annan commented to Finance Magnates: “Regulation has been on the forefront of the online Foreign exchange industry for the past few years. We hold regulation in the highest regard and constantly seek to expand our products and services.”