New Partners for MT5 and Saxo Payments – Best of the Week

FXCM, BDSwiss, XTrade, Saxo, eToro, MetaQuotes and more are among the firms that appeared in last week's top stories.

During the passing week the most interesting stories from the online trading world included an update on the situation with FXCM, an investigation into a broker’s stolen laptop, and new collaborations for MT5 as well as another sad development from the Israeli market.

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MetaTrader 5

On Monday we reported that the multilateral trading facility, LMAX Exchange, will be providing liquidity to MT5 via a new integration gateway targeting not just FX, but precious metals and indices.

A few days later OctaFX, the FCA regulated retail forex brokerage, expanded its offering through incorporating MT5 platform into its live trading infrastructure. For those who wish to open multiple oppositely directed positions in the same instrument the system supports the hedging system option.

FXCM’s new home

On Tuesday the news broke that FXCM Inc (NYSE:FXCM) is preparing to transfer its listing on the NASDAQ. It was revealed that the last day of trading on the NYSE for its stock will be the 23rd of September.

During the week we also learned that the company has managed to weather the summer decrease in trading activity rather well with retail clients trading volumes declining on a monthly basis just by 4% in August. The figure was also lower by 18% year-on-year.

Tramonex

On Wednesday we reported that Tramonex, an international financial services provider, has embarked on a partnership with Saxo Payments to offer more cohesive cross-border transfers for its clients.

Prior to the shift, Tramonex had offered its clients’ accounts from both tier 1 and 2 international banks. However, the rigors of a dynamic global marketplace have ultimately necessitated a more flexible and efficient service, which it found in Saxo Payment’s Banking Circle.

Biggest players leaving Israel

On Thursday we broke the news that Israel-headquartered social trading network eToro has become the latest firm to have withdrawn from the local market as it canceled its application for a Israeli Security Authority (ISA) Trading Arena licence.

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Joe Hall, eToro’s UK MD Business, commented on the matter to Finance Magnates: “Following a continuous dialogue with the ISA and despite a mutual willingness, we have decided to withdraw our trading platform application as the company’s offering can’t reside in the current regulatory environment in Israel yet.”

Long road

On Friday XTrade’s Chief Operating Officer Mark Leigh shared with Finance Magnates that it is entering a forex and CFDs trading market, and that the process of licensing with the Financial Services Board (FSB) of South Africa took about six months.

XTrade expects that local traders will be keen to embrace local brokers as the red tape on foreign accounts becomes increasingly restrictive. The company’s estimates regarding the potential of the South African market are based on the solid uptake that other companies have seen in the region.

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