Elsewhere, brand confusion and legal uncertainty loom as two firms fight for ownership of the Ultima name.
On the regulatory front, Binance is facing fresh hurdles in France. Also, find out about Robinhood's expansion of its offering, comprising the S&P 500, oil, and Bitcoin.
Two Brokers, One Brand, But Why?
Starting off our
weekly news update is an interesting case of two brokers fighting for the same brand. Offshore broker BCS Markets (formerly BCS Forex), a part of
the Russian financial conglomerate BrokerCreditService and a sister brand of
the Russian-licensed forex dealer BCS-Forex, appeared to have rebranded itself
as Ultima Markets. However, another retail trading broker named Ultima Markets
already exists and offers contracts for difference (CFD) trading.
Although the company did not publicly announce it, according
to the Internet Archive, BCS Markets rebranded earlier this month. However, the
broker is still operating from the same web address, “bcsmarkets.com.” The
Russian broker was previously managed by BCS Markets LLC.
Arbitrage in Prop Trading Models
Elsewhere, multiple prop firms have publicly opposed the arbitrage exploitation of their platforms. Additionally, several groups are offering services that claim to guarantee profits from prop trading activities. Although such exploitations are known, PipFarm’s CEO, James Glyde, recently pointed to the organized nature of such groups.
“A very important feature of this scheme is the ability to pressure firms into paying out after they are caught to avoid negative publicity and firms find themselves in a lose-lose situation,” Glyde wrote in an X (formerly Twitter) post.
XTB Reports 15% Revenue Jump, New Clients Increase Nearly 60%
And in Poland, XTB closed 2024 on a high note, delivering strong financial and operational results. The online brokerage firm also experienced a surge in new clients, adding nearly 500,000 over the year, a 59.8% increase.
This influx helped drive revenue up 15.8% to PLN 1.87 billion, while net profit climbed 8.6% year-over-year to PLN 859.4 million. Despite rising operational costs, XTB benefited from strong market trends and growing interest in financial instruments.
In another development, XTB plans to introduce spot cryptocurrencies to its offering, likely this year, Finance Magnates has learned. While digital assets have been available through the company since 2018, they were only offered as contracts for difference (CFD). the company, which aims to become an all-in-one financial super app, now plans to expand its offering to include "physical" cryptocurrencies.
Capital.com’s UAE Traders Post Record $469 Billion in Volume
Meanwhile, the United Arab Emirates (UAE) has established itself as a dominant force in global retail trading, with volumes reaching $468.9 billion in 2024, according to new data released by trading platform Capital.com. The UAE led global markets with 19.5 million trades - double the activity of second-place Germany while maintaining an impressive 62.53% positive return rate across trades.
Tarik Chebib, the CEO of Capital.com MENA
“Our latest data shows the remarkable achievements of UAE traders, who are not only diversifying their strategies across a wide range of instruments but also delivering healthy returns from their trades,” Tarik Chebib, the CEO of Capital.com MENA, said.
By integrating with NAGA’s copy trading feature, CryptoX also enables users to mirror successful trading strategies. According to the company, one of the standout features of CryptoX is the elimination of overnight fees on long (BUY) positions.
easyMarkets Q4 2024 Results
Still, with the brokerage space, easyMarkets saw a sharp rise in cryptocurrency trading in the fourth quarter of 2024, with Bitcoin surpassing $100,000. This price surge drove strong interest from traders, making crypto the dominant asset class on the platform. Trading volumes for cryptocurrencies tripled compared to the third quarter, reflecting increased market activity and investor confidence.
Several factors contributed to this growth. Institutional investors played a major role, with companies like MicroStrategy announcing plans to raise $42 billion for crypto purchases. The re-election of a pro-crypto US president further fuelled optimism, as traders anticipated a more favorable regulatory environment.
A dedicated page on Robinhood’s website also indicates that it will launch futures trading with forex pairs, cryptocurrencies, indices, and commodities. As seen on the website, Robinhood will offer four crypto futures products: Bitcoin Futures, Micro Bitcoin Futures, Bitcoin Friday Futures, and Ether Futures.
Binance Faces Fresh Trouble in France
In France, Binance is facing yet another regulatory storm. The country's authorities have now launched a criminal investigation against crypto exchange, alleging tax fraud, money laundering, and illegal operations tied to drug trafficking. According to a report by Reuters, the investigation, led by France's financial crime unit, accuses Binance of facilitating money laundering linked to drug trafficking.
The case spans between 2019 and 2024. Prosecutors claim the platform failed to report suspicious activities and operated without necessary approvals in France and other European Union countries. Complaints from users who said they lost money due to misleading communication and unlicensed trading practices fueled the probe.
Lastly, Trump's federal aid freeze sparked widespread confusion as the Doomsday Clock advances, highlighting global uncertainties. In a move that caught many off guard, the Trump administration recently announced a sweeping freeze on federal financial assistance. The Office of Management and Budget (OMB) issued a memo ordering a "temporary pause" on federal aid, excluding programs like Social Security and Medicare but leaving the status of others, such as Medicaid and FAFSA, in limbo.
The stated aim was to halt funding for initiatives linked to foreign aid, non-governmental organizations, diversity, equity, and inclusion programs, and environmental policies associated with the Green New Deal. Any federal aid freeze can potentially send shockwaves through an economy, particularly in industries that rely heavily on government funding, such as infrastructure, education, and healthcare.
Two Brokers, One Brand, But Why?
Starting off our
weekly news update is an interesting case of two brokers fighting for the same brand. Offshore broker BCS Markets (formerly BCS Forex), a part of
the Russian financial conglomerate BrokerCreditService and a sister brand of
the Russian-licensed forex dealer BCS-Forex, appeared to have rebranded itself
as Ultima Markets. However, another retail trading broker named Ultima Markets
already exists and offers contracts for difference (CFD) trading.
Although the company did not publicly announce it, according
to the Internet Archive, BCS Markets rebranded earlier this month. However, the
broker is still operating from the same web address, “bcsmarkets.com.” The
Russian broker was previously managed by BCS Markets LLC.
Arbitrage in Prop Trading Models
Elsewhere, multiple prop firms have publicly opposed the arbitrage exploitation of their platforms. Additionally, several groups are offering services that claim to guarantee profits from prop trading activities. Although such exploitations are known, PipFarm’s CEO, James Glyde, recently pointed to the organized nature of such groups.
“A very important feature of this scheme is the ability to pressure firms into paying out after they are caught to avoid negative publicity and firms find themselves in a lose-lose situation,” Glyde wrote in an X (formerly Twitter) post.
XTB Reports 15% Revenue Jump, New Clients Increase Nearly 60%
And in Poland, XTB closed 2024 on a high note, delivering strong financial and operational results. The online brokerage firm also experienced a surge in new clients, adding nearly 500,000 over the year, a 59.8% increase.
This influx helped drive revenue up 15.8% to PLN 1.87 billion, while net profit climbed 8.6% year-over-year to PLN 859.4 million. Despite rising operational costs, XTB benefited from strong market trends and growing interest in financial instruments.
In another development, XTB plans to introduce spot cryptocurrencies to its offering, likely this year, Finance Magnates has learned. While digital assets have been available through the company since 2018, they were only offered as contracts for difference (CFD). the company, which aims to become an all-in-one financial super app, now plans to expand its offering to include "physical" cryptocurrencies.
Capital.com’s UAE Traders Post Record $469 Billion in Volume
Meanwhile, the United Arab Emirates (UAE) has established itself as a dominant force in global retail trading, with volumes reaching $468.9 billion in 2024, according to new data released by trading platform Capital.com. The UAE led global markets with 19.5 million trades - double the activity of second-place Germany while maintaining an impressive 62.53% positive return rate across trades.
Tarik Chebib, the CEO of Capital.com MENA
“Our latest data shows the remarkable achievements of UAE traders, who are not only diversifying their strategies across a wide range of instruments but also delivering healthy returns from their trades,” Tarik Chebib, the CEO of Capital.com MENA, said.
By integrating with NAGA’s copy trading feature, CryptoX also enables users to mirror successful trading strategies. According to the company, one of the standout features of CryptoX is the elimination of overnight fees on long (BUY) positions.
easyMarkets Q4 2024 Results
Still, with the brokerage space, easyMarkets saw a sharp rise in cryptocurrency trading in the fourth quarter of 2024, with Bitcoin surpassing $100,000. This price surge drove strong interest from traders, making crypto the dominant asset class on the platform. Trading volumes for cryptocurrencies tripled compared to the third quarter, reflecting increased market activity and investor confidence.
Several factors contributed to this growth. Institutional investors played a major role, with companies like MicroStrategy announcing plans to raise $42 billion for crypto purchases. The re-election of a pro-crypto US president further fuelled optimism, as traders anticipated a more favorable regulatory environment.
A dedicated page on Robinhood’s website also indicates that it will launch futures trading with forex pairs, cryptocurrencies, indices, and commodities. As seen on the website, Robinhood will offer four crypto futures products: Bitcoin Futures, Micro Bitcoin Futures, Bitcoin Friday Futures, and Ether Futures.
Binance Faces Fresh Trouble in France
In France, Binance is facing yet another regulatory storm. The country's authorities have now launched a criminal investigation against crypto exchange, alleging tax fraud, money laundering, and illegal operations tied to drug trafficking. According to a report by Reuters, the investigation, led by France's financial crime unit, accuses Binance of facilitating money laundering linked to drug trafficking.
The case spans between 2019 and 2024. Prosecutors claim the platform failed to report suspicious activities and operated without necessary approvals in France and other European Union countries. Complaints from users who said they lost money due to misleading communication and unlicensed trading practices fueled the probe.
Lastly, Trump's federal aid freeze sparked widespread confusion as the Doomsday Clock advances, highlighting global uncertainties. In a move that caught many off guard, the Trump administration recently announced a sweeping freeze on federal financial assistance. The Office of Management and Budget (OMB) issued a memo ordering a "temporary pause" on federal aid, excluding programs like Social Security and Medicare but leaving the status of others, such as Medicaid and FAFSA, in limbo.
The stated aim was to halt funding for initiatives linked to foreign aid, non-governmental organizations, diversity, equity, and inclusion programs, and environmental policies associated with the Green New Deal. Any federal aid freeze can potentially send shockwaves through an economy, particularly in industries that rely heavily on government funding, such as infrastructure, education, and healthcare.
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
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
