Read Our Best Stories of the Week

New Platforms Going Head to Head as a Gaming Empire Takes FX

The past week has seen Saxo and MetaQuotes launch new platforms, Israeli competition heating up, an aggressive takeover of Plus500

Some of the best stories on Finance Magnates over the past week shed light on large trends and conflicts in the global financial trading industry.

Saxo Bank was the first large Western broker to try and completely abandon the old MT4 platform and market its proprietary solution worldwide. At the same time MetaQuotes is not resting on it laurels and launches new products to try and stay relevant. We also conducted an interesting comparison between the two U.S regulated binary options venues, and followed the Playtech Plus500 takeover as it unfolded.

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Marketing Competition Intensifies in Israel

This Monday we reported that members of the Israeli forex industry are taking steps to dominate the country’s financial media landscape.

At one of Israel’s top print and online financial news sources a group of five brokers and one forex technology provider consolidated forces and launched a new campaign together.

At the same time, AvaTrade’s ATrade published a promotional ad linking directly to a lead landing page over at a less prominent portal, taking much of the site’s advertising space.

SaxoTraderGO Goes Global

On Tuesday, Saxo Bank announced that it is about to conclude with the worldwide rollout of SaxoTraderGO. The last country to introduce the new solution today is Switzerland.

In the meantime, the Danish broker’s Cypriot subsidiary CIF Saxo Capital Markets has renounced its license, with the company further distancing itself from Cyprus after ditching the MT4 platform earlier this month.

All European clients of the Danish broker have already been granted access to the platform while those from Asia-Pacific, the Middle East and Latin America are due to get connected throughout June.

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MetaQuotes Strikes Back

The Russian developer of MT4 could not have been expected to see how the market is moving forward and leaving its old platform behind as SaxoTraderGO and other competitors target its market share.

As part of its modernization, Finance Magnates has reported exclusively that MetaQuotes will be launching a webtrader for its MetaTrader platforms in Q3 as it extends its offerings.

According to sources, the firm has begun to market the coming product to its broker clients, with a Q3 launch date planned. In addition, MetaQuotes is working on customer management solutions to assist brokers.

Teddy Sagi’s Expanding Empire

On Thursday, we saw how Playtech’s aggressive takeover of Plus500 played out in real-time. In the morning, it sold 29,050,000 new shares at a price of 780 pence per placing share, raising gross proceeds of approximately £227 million.

Later, Playtech announced that following its market purchases that morning, the group has a total holding of 10,756,067 ordinary shares in Plus500, representing 9.36% of Plus500’s issued ordinary share capital.

Just the day before we published a detailed report on all of Teddy Sagi’s forex M&A actions. With, part of Plus500, the binary options broker TopOption and several other smaller brands, his FX empire is only expected to keep growing.

The Options for Legal U.S. Binary Options

At the beginning of the week, we provided American binary brokers and traders with a comprehensive comparison of the differences between Cantor Exchange and Nadex.

From the data it seems that, while Nadex is geared toward the individual retail trader, Cantor Exchange is better aimed at attracting binary option platform developers and brands.

Armed with all the provided information you should be able to decide which American binary options venue suits your needs.

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