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Europe's Economic Crossroads: Recession Fears and S&P Global's
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Retail FX
Admirals Group to Withdraw Estonian License amidst Global Consolidation
2023-05-18T18:15:27.671+02:00
Admirals said it will merge the subsidiary with the parent company.
The firm also plans to repurchase €1.9M of its Tier 2 bonds.
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Retail FX
24HR Trading Academy Victims Lost £1.3M; Court Approves £106K Refund
2023-05-17T16:38:43.171+02:00
Only investors with losses above £500 are to be paid.
The FCA initiated a case against Mohammed Maricar, the scheme operator, in April 2020.
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Retail FX
XTB Founder Sells $64M Shares in Company
2023-05-16T20:50:09.097+02:00
The sale was done directly by the investment firm XX ZW owned majorly by Jakub Zablocki.
The transaction came as XTB reported a record profit during Q1 2023.
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Retail FX
Exness and RoboMarkets Sign New Sports Sponsorship Deals in Cyprus
2023-05-11T15:53:01.940+02:00
The sports involved are the Wakesurf Championship and the European Sporting Championships.
RoboMarkets strengthens its sports presence in Cyprus with the new deal.
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Executives
Oval Money’s Daniel Gladding Joins eToro UK as Chief Risk Officer
2023-05-09T17:46:51.083+02:00
Ex-OvalX execs are taking up roles at other firms after the broker shut down in March.
Gladding previously worked for Admirals, StoneX and IG Group, among others.
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Retail FX
CySEC Revokes ICF Membership of Brokerages Trilt and RMG Holdings
2023-05-09T15:08:08.971+02:00
Trilt and RMG's licenses were withdrawn last month and in April 2022, respectively.
ICF compensation is open to clients of both firms covered before the termination.
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Executives
SquaredFinancial’s Deputy CEO Husam Al Kurdi Departs to Start New Venture
2023-05-06T15:33:29.351+02:00
Al Kurdi joined SquaredFinancial in 2019 after seven and a half years at ADSS.
He will remain with the brokerage as an advisor and collaborator,
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Executives
New Broker RaiseFX Hires INFINOX’s Dany Mawas as CCO
2023-05-05T14:51:18.007+02:00
Mawas left INFINOX after two years and five months.
RaiseFX has established its presence in several African countries.
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Retail FX
CFI Financial Sees Record Growth in Volume, New Accounts in Q1
2023-05-04T15:21:40.177+02:00
Volume and new accounts grew 57% and 147% YoY, respectively.
CFI plans to expand into new markets this year.
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Retail FX
Saxo Bank’s FX Volume Down to Lowest since Dec 2021
2023-05-03T17:51:07.700+02:00
The brokerage's FX volume declined 34% to $102.8 billion in April.
Additionally, institutional spot FX volumes declined across major regions last month.
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Executives
Hantec Markets to Launch Institutional Arm, Hires Institutional Sales Head
2023-05-02T15:09:35.414+02:00
Lee Holmes joins Hantec from INFINOX and was a director at ATFX, Zenfinex and ForexVox.
He brings over 12 years of FX and derivatives markets experience to the role.
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Retail FX
Interactive Brokers’ DARTs Decreases 14% to 1.8M in April 2023
2023-05-01T21:00:57.444+02:00
The American online broker's client accounts increased slightly 1% to 2.22M.
It generated an average commission of $3.18 per cleared commissionable orders.
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Retail FX
Tastytrade, LiteFinance Launch New Features
2023-05-01T19:07:22.971+02:00
Tastytrade says its API empowers customers to build software applications.
LiteFinance's new mobile app for iOS offers several features to users.
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Retail FX
Admirals Strengthens African Presence with New Offices in Nigeria
2023-05-01T17:10:21.097+02:00
The brokerage received a license in South Africa and Kenya last year.
Admirals posted a record year in 2022 with €69M in revenue.
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Retail FX
CySEC Withdraws CIF License of FX/CFDs Broker, Trilt
2023-04-28T18:59:13.084+02:00
Trilt received its license from the Cypriot watchdog in October 2014.
CySEC has announced at least 5 CIF license withdrawals since January.
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Retail FX
Swiss Broker Dukascopy’s Profit Surges 200% to Second-Highest in History
2023-04-27T20:16:29.037+02:00
The brokerage and retail bank's net profit hit CHF 6.4M in 2022.
Dukascopy attributes record to conservative asset allocation and liquidity mgt.
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Retail FX
XTB Breaks Another Profit Record in Q1 2023, Acquires over 100,000 Clients
2023-04-26T19:20:14.891+02:00
Broker's client base rose 46.1% in a year to 703,900.
After a weaker Q4, the last quarter brought all-time high numbers.
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Retail FX
FCA Finds “Gaps in Surveillance” among UK CFDs Providers
2023-04-26T18:41:14.828+02:00
The FCA found weak surveillance of market manipulation and abuse of non-equity asset classes.
However, most of the regulator's findings 'were largely positive'.
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Retail FX
Spanish Regulator Flags ‘Pepper Stone’, ‘PRIMUS FX’, 7 Other Websites
2023-04-24T22:01:42.214+02:00
The websites are clones of Pepperstone and FXPrimus.
CySEC also flagged down eight illegal FX/CFDs platforms on Monday.
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Retail FX
Jordan FA Cup to Be Renamed as CFI Partners Football Association
2023-04-20T15:56:51.205+02:00
CFI will sponsor all major leagues under the JFA.
The brokerage sponsored the recent Mubadala World Tennis Championship.
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Executives
Ex OvalX Seniors Move to BidX Markets, Trade Nation and Alvar
2023-04-19T22:39:23.388+02:00
OvalX ceased operations on March 17, 2023, after selling assets to Capital.com.
Last week, Mark Foulds moved to Alvar Financial after over 20 years at OvalX.
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ThinkMarkets Bolsters APAC Foothold with New Zealand License
2023-04-19T20:39:43.417+02:00
The broker launched in Japan in March 2022.
ThinkMarkets secured $30M early last year to boost its expansion.
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NAGA Seeks to Raise $8.2M in Convertible Bond
2023-04-17T15:09:45.343+02:00
Upon full conversion, the bonds will raise NAGA's current share capital by 7.7%.
NAGA Group "incurred significant losses last year."
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UK Regulator Flags Down Saxo 24 FX, One Zero Trade
2023-04-14T22:27:32.295+02:00
The FCA did not state if they are clones of Saxo Bank and OneZero Financial.
The British regulator is seeking greater investor protection with its three-year strategy.
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Retail FX
Exclusive: Retail FX Broker TradedWell Shuts Down Website
2023-04-14T16:23:28.360+02:00
The brokerage, which started running in 2020, closed its website on January 27, 2023.
TradedWell is the third CySEC broker to have encountered problems in the last 3 months.
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