During the passing week the most interesting stories from the online trading industry included firms presenting a new face to the world and developers presenting new tools. We also saw a major legal development in one unfortunate saga that has been captivating the forex community over the past year.
On Sunday Finance Magnates exclusively revealed that London-headquartered group Henyep Capital Markets is rebranding its HY Markets brokerage under the name of HYCM.
Marios Chailis, the marketing director of the firm, said that besides HY Markets the brands of PIPtrade and HY Investment will also come under the umbrella of the HYCM.com website. Additionally, he confirmed that the new multi asset web based platform was developed by the UK-based Star Financial Systems.
Russian FX Association
On Monday, Russia’s self regulatory association, previously known as CRFIN, rebranded as NAFD (National Association of Forex Dealers). Andrei Lisitsyn will become Chairman of the Board which will include, among others, Ilya Vladimirovich Volkov of Forex Club and Alexander Sokologorsky of VTB 24 Forex.
Lisitsyn commented: “… with the foundations of the legal framework regulating the activities of the industry laid, our work goes into a new quality, which is reflected in the new name and decisions. We have created a stable and powerful self-regulating organization that can not only combine the holders of the relevant licenses, but realize the development of national standards activity OTC financial markets while taking into account the peculiarities of all its segments.”
Refresh Your Brand
On Tuesday we reported that GAIN Capital has undergone a revamp of its global retail FX brand, FOREX.com. The refresh entails a visualized alteration to its web portal, complete with an updated online presence and website offering.
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“Our brand and website refresh marks the beginning of a series of exciting and innovative enhancements to our products and services and reflects our commitment to empower each and every one of our traders with tools to help make effective investment and trading decisions.” said Glenn Stevens, CEO of GAIN Capital.
MT5 Time & Sales
On Wednesday MetaQuotes Software Corporation published an overview of the ‘Time & Sales’ feature, one of the available options in the new MetaTrader 5 build 1375.
The most recent addition enables users to view in-depth trading data for all exchange transactions directly from the Market Depth window. Information on every trade includes the time when the trade was executed, buy or sell, as well as the price and volume of the trade.
MT4 Scalper Watch
On Thursday Gold-i launched it’s newest product, Scalper Watch, a new utility that helps MT4 brokers streamline their profits via the detection and mitigation of unwanted scalpers.
“Without the right tool, it is very hard to identify scalpers as they trade in a way which makes it difficult to detect. Gold-i Scalper Watch is therefore a valuable and cost-effective tool, developed to help brokers to make more money,” commented Misha Kipnis, VP Gold-i Visual Edge.
Hamed Ahmed Arrested
On Friday Finance Magnates exclusively revealed the arrest of Fortress Prime’s Hamed Ahmed Elbarki/Mokhtar. The controversial majority shareholder on the FBI’s most wanted list has been apprehended by local authorities in the United Arab Emirates, according to multiple sources with knowledge of the matter.
With the majority shareholder of Fortress Prime in custody, the legal case against him is likely to be further backed up by evidence from Interpol and the Federal Bureau of Investigations which have both been on the lookout for Hamed Ahmed Elbarki/Mokhtar for years.