During the passing week the most interesting stories from the online trading world included brand new details about upcoming products as well as the most hard hitting sports sponsorship seen in the industry since Mike Tyson.
Getting ready for the American elections
On Monday the news broke that Saxo Bank has decided to increase margin requirements in the run up to the US elections. The Danish multi-asset brokerage’s margin requirement increase will affect a set of different assets including FX pairs, equities and fixed income.
In the following days more firms joined in the preparations for the possibility of extreme volatility, including: AxiTrader, Dukascopy, OctaFX, FXOpen, FOREX.com, ETX Capital and Swissquote Bank.
Cyprus binary options
On Tuesday we reported that OptionWeb, one of the oldest binary options brokerages in the industry, has laid off a large number of employees in recent weeks. It came as many other companies in the industry are consolidating operations as CySEC has started enforcing its new regulatory framework.
By coincidence, on the same day CySEC announced that it has imposed a fine of €225,000 on XFR Financial Ltd, owner of forex brokers XForex and XTrade, for a series of non-compliance issues in connection with the provision of trading services.
OANDA’s v20 engine
On Wednesday OANDA CEO Ed Eger talked about the company’s new execution engine, the firm’s growth plans and upcoming technological developments.
We asked him about the v20 execution engine and how it is improving trading execution for clients, what speeds they have recorded in their tests and whether it is an in-house development.
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On Thursday we exclusively reported that binary options software provider TRADOLOGIC is working on a new portfolio management software. Called OptionsPros, it will be focusing on combining certain elements from portfolio management, social trading and automated trading.
TRADOLOGIC plans to offer the solution as a white label product. The product is not meant to solicit end-user trades and can be added as a standalone platform or as an additional layer to a traditional binary brokerage.
This week we also revealed that 24Option signed a sponsorship deal with the UFC champion, Conor McGregor.
Emma Morris, Partnership Director at 24Option: “We are delighted to announce Conor McGregor “the Notorious” as our partner. We decided to partner with Conor because of his strong character. He is number one and fierce. He is fearless and strong. He has one of the strongest sporting characters’ traits in our most desired markets. He is fierce and a true fighting champion and his fame is due to his strength, perseverance and character as an athlete. We share the same traits.”