Also, a warning by New Zealand's FMA; Gemini's investment in India.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Tools for Brokers Enhances Toolbox
Tools for Brokers has enhanced its TFB Toolbox by releasing new functionalities, including live logs and notifications, to simplify monitoring and control. It brings an experimental table view for rules and enables messages on the stopout occurrence through a plugin. Further, the TFB Toolbox supports the Dynamic Leverage Changer for CFDs index.
"The new features were developed directly in response to client feedback," Tools for Brokers stated.
Scope Markets Expands
Middle East Operations
Scope
Markets, a globally licensed securities broker, has announced the introduction
of accounts denominated in UAE Dirhams (AED). This move comes ahead of the
company's planned expansion into equity Contracts for Difference (CFDs) based
on stocks from the Gulf Cooperation Council (GCC) states. CEO Pavel Spirin
stated that the new offerings aim to meet the growing demand for diverse
financial products in the rapidly expanding Middle Eastern economies.
The
upcoming expansion in Q4 2023 will include a variety of equity CFDs from key
stock markets in the Middle East, such as the Abu Dhabi Securities Exchange,
Dubai Financial Markets, and others.
SFC-HKMA Survey Reveals
Shift to Money Market Funds in 2022
The
Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority
(HKMA) have released the results of their 2022 joint survey on the sale of
non-exchange traded investment products. The survey found that money market
funds were the top-selling collective investment schemes (CIS), making up 61%
of total transactions, a significant increase from 33% in the previous year.
This shift is attributed to investors seeking stable income and liquidity in a
rising interest rate environment.
Despite a
24% decline in the total transaction amount to $3,799 billion, about 35% of
firms reported an increase in their transaction volumes. This resilience is
credited to firms offering personalized investment products tailored to
individual investor needs, allowing them to navigate or even thrive during
market challenges.
DOJ Intensifies Probe into
Credit Suisse and UBS
The US
Department of Justice (DOJ) has escalated its investigation into Credit Suisse
Group and UBS Group AG for alleged compliance failures that enabled Russian
clients to evade sanctions. Bloomberg reported the news and indicated a growing
scrutiny of these financial institutions in relation to sanctions evasion.
The initial
phase of issuing subpoenas to various banks earlier in the year has evolved
into a comprehensive probe centered on Credit Suisse, according to anonymous
sources familiar with the ongoing investigation. The DOJ is also examining the
possibility of compliance lapses at UBS, said one of the sources quoted by
Bloomberg.
SEC Extends
Deadlines for Ark 21Shares and Global X Bitcoin ETFs
The US Securities
and Exchange Commission (SEC) has postponed its decision on the applications
for spot bitcoin exchange-traded funds (ETFs) from Ark 21Shares and Global X.
The delay comes as the federal government faces a potential shutdown due to a
budget deadlock in Congress.
The SEC has
a total of 240 days to make a final decision on any application, but it can
extend deadlines at various points during the review process. Ark Investment
Management and 21Shares, who have been pursuing ETF approval since 2021, now
have a new deadline of January 10 for the SEC's decision.
CFI Incorporates the TipRanks Plug-in on MetaTrader
CFI Financial Group has launched a MetaTrader plug-in to enable its clients access to the datasets of TipRanks. With this, CFI became the first broker to provide an MT plugin to display TipRanks' datasets.
"By integrating TipRanks into our MetaTrader platform, we equip our traders with state-of-the-art research tools previously accessible only to the industry's top players," said Hisham Mansour, the Co-Founder and Managing Director of CFI Financial Group.
Uri Gruenbaum, CEO TipRanks
Uri Gruenbaum, the CEO of TipRanks, added: "TipRanks is proud to be integrated into CFI's platform through the new MetaTrader plug-in… Together, CFI and TipRanks are giving CFI's customers the best and latest technology as we level the playing field for all investors."
Warning by New Zealand's FMA
New Zealand's Financial Markets Authority (FMA) today (Wednesday) warned against Brownprime, a platform offering investment into cryptocurrency mining. The warning came after "a New Zealand resident who has invested through Brownprime is having difficulties in withdrawing funds."
According to the regulator, Brownprime offers unrealistic high returns and requires upfront fees to process withdrawals. The regulator highlighted that the platform is not registered in New Zealand, and its "website displays a certificate of incorporation of an entity with a different business nature."
"We recommend exercising caution when dealing with Brownprime," the FMA stated.
Winklevoss Twins' Gemini to Increase Investment in India
Gemini, the cryptocurrency exchange backed by the Winklevoss twins, plans to invest INR 200 crore ($24 million) over the next two years in its technology hub in India.
The announcement came with the opening of its office at Gurugram, which is subject to the National Capital Region.
"Gemini's Gurgaon office will provide powerful contributions to support our growth over the coming years. It will be home to professionals across our engineering, design, and operations teams that are responsible for developing products and services for customers around the world in 70+ countries," the exchange noted.
Gemini's office in India
Aussie Company Auditor Suspended
Rocco (Roy) Luciano Spagnolo, a registered company auditor in Australia, has been suspended from practice for 12 months by the Companies Auditors Disciplinary Board (CADB). The auditor did not comply with the audit standards for two audits.
"Mr Spagnolo, a director of Corporate Audit & Advisory Services Pty Ltd, was responsible for auditing the 30 June 2019 and 30 June 2020 financial reports of Alliance Insurance Broking Services Pty Ltd, now known as Alliance Management Group Pty Ltd. Alliance Insurance Broking Services held an Australian financial services (AFS) license during the time of the audits," ASIC stated in the announcement.
Spagnolo, the individual, has been ordered to pay AU$20,000 for the violations and has been banned from auditing listed or AFS-licensed entities for three years. He further will require that his first three audits following the suspension be reviewed by another registered company auditor.
Tools for Brokers Enhances Toolbox
Tools for Brokers has enhanced its TFB Toolbox by releasing new functionalities, including live logs and notifications, to simplify monitoring and control. It brings an experimental table view for rules and enables messages on the stopout occurrence through a plugin. Further, the TFB Toolbox supports the Dynamic Leverage Changer for CFDs index.
"The new features were developed directly in response to client feedback," Tools for Brokers stated.
Scope Markets Expands
Middle East Operations
Scope
Markets, a globally licensed securities broker, has announced the introduction
of accounts denominated in UAE Dirhams (AED). This move comes ahead of the
company's planned expansion into equity Contracts for Difference (CFDs) based
on stocks from the Gulf Cooperation Council (GCC) states. CEO Pavel Spirin
stated that the new offerings aim to meet the growing demand for diverse
financial products in the rapidly expanding Middle Eastern economies.
The
upcoming expansion in Q4 2023 will include a variety of equity CFDs from key
stock markets in the Middle East, such as the Abu Dhabi Securities Exchange,
Dubai Financial Markets, and others.
SFC-HKMA Survey Reveals
Shift to Money Market Funds in 2022
The
Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority
(HKMA) have released the results of their 2022 joint survey on the sale of
non-exchange traded investment products. The survey found that money market
funds were the top-selling collective investment schemes (CIS), making up 61%
of total transactions, a significant increase from 33% in the previous year.
This shift is attributed to investors seeking stable income and liquidity in a
rising interest rate environment.
Despite a
24% decline in the total transaction amount to $3,799 billion, about 35% of
firms reported an increase in their transaction volumes. This resilience is
credited to firms offering personalized investment products tailored to
individual investor needs, allowing them to navigate or even thrive during
market challenges.
DOJ Intensifies Probe into
Credit Suisse and UBS
The US
Department of Justice (DOJ) has escalated its investigation into Credit Suisse
Group and UBS Group AG for alleged compliance failures that enabled Russian
clients to evade sanctions. Bloomberg reported the news and indicated a growing
scrutiny of these financial institutions in relation to sanctions evasion.
The initial
phase of issuing subpoenas to various banks earlier in the year has evolved
into a comprehensive probe centered on Credit Suisse, according to anonymous
sources familiar with the ongoing investigation. The DOJ is also examining the
possibility of compliance lapses at UBS, said one of the sources quoted by
Bloomberg.
SEC Extends
Deadlines for Ark 21Shares and Global X Bitcoin ETFs
The US Securities
and Exchange Commission (SEC) has postponed its decision on the applications
for spot bitcoin exchange-traded funds (ETFs) from Ark 21Shares and Global X.
The delay comes as the federal government faces a potential shutdown due to a
budget deadlock in Congress.
The SEC has
a total of 240 days to make a final decision on any application, but it can
extend deadlines at various points during the review process. Ark Investment
Management and 21Shares, who have been pursuing ETF approval since 2021, now
have a new deadline of January 10 for the SEC's decision.
CFI Incorporates the TipRanks Plug-in on MetaTrader
CFI Financial Group has launched a MetaTrader plug-in to enable its clients access to the datasets of TipRanks. With this, CFI became the first broker to provide an MT plugin to display TipRanks' datasets.
"By integrating TipRanks into our MetaTrader platform, we equip our traders with state-of-the-art research tools previously accessible only to the industry's top players," said Hisham Mansour, the Co-Founder and Managing Director of CFI Financial Group.
Uri Gruenbaum, CEO TipRanks
Uri Gruenbaum, the CEO of TipRanks, added: "TipRanks is proud to be integrated into CFI's platform through the new MetaTrader plug-in… Together, CFI and TipRanks are giving CFI's customers the best and latest technology as we level the playing field for all investors."
Warning by New Zealand's FMA
New Zealand's Financial Markets Authority (FMA) today (Wednesday) warned against Brownprime, a platform offering investment into cryptocurrency mining. The warning came after "a New Zealand resident who has invested through Brownprime is having difficulties in withdrawing funds."
According to the regulator, Brownprime offers unrealistic high returns and requires upfront fees to process withdrawals. The regulator highlighted that the platform is not registered in New Zealand, and its "website displays a certificate of incorporation of an entity with a different business nature."
"We recommend exercising caution when dealing with Brownprime," the FMA stated.
Winklevoss Twins' Gemini to Increase Investment in India
Gemini, the cryptocurrency exchange backed by the Winklevoss twins, plans to invest INR 200 crore ($24 million) over the next two years in its technology hub in India.
The announcement came with the opening of its office at Gurugram, which is subject to the National Capital Region.
"Gemini's Gurgaon office will provide powerful contributions to support our growth over the coming years. It will be home to professionals across our engineering, design, and operations teams that are responsible for developing products and services for customers around the world in 70+ countries," the exchange noted.
Gemini's office in India
Aussie Company Auditor Suspended
Rocco (Roy) Luciano Spagnolo, a registered company auditor in Australia, has been suspended from practice for 12 months by the Companies Auditors Disciplinary Board (CADB). The auditor did not comply with the audit standards for two audits.
"Mr Spagnolo, a director of Corporate Audit & Advisory Services Pty Ltd, was responsible for auditing the 30 June 2019 and 30 June 2020 financial reports of Alliance Insurance Broking Services Pty Ltd, now known as Alliance Management Group Pty Ltd. Alliance Insurance Broking Services held an Australian financial services (AFS) license during the time of the audits," ASIC stated in the announcement.
Spagnolo, the individual, has been ordered to pay AU$20,000 for the violations and has been banned from auditing listed or AFS-licensed entities for three years. He further will require that his first three audits following the suspension be reviewed by another registered company auditor.
Two-Thirds of FCA's AML Fines Trace Back to Outdated Customer Records
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
