Author: admin

U.S. derivatives market regulator The Commodity Futures Trading Commission (CFTC) has announced that it has filed a civil enforcement action in the U.S. District Court for the District of New Jersey against WorldWideMarkets, Ltd., TAB Networks, Inc., Thomas Plaut of Saddle River, N.J., and Arthur Dembro of New York, N.Y., charging them with fraud and…

Read More “CFTC charges Thomas Plaut in multi-million dollar retail forex fraud” »

FNG Exclusive… Following up our recent exclusive coverage of the series of senior management departures at Retail FX broker ADSS at both its UAE headquarters and its FCA regulated London operation, FNG has learned that two more senior executives are leaving ADSS at year-end. The latest two to leave ADSS are Chief Compliance Officer Roland…

Read More “Exclusive: ADSS departures continue – Heads of Compliance and Front Office leave” »

FNG Exclusive… FNG has learned that Cyprus based Retail and Institutional FX broker TopFX has opened a new office in Dubai, to serve Arabic speaking and MENA region clients. The new TopFX office, located in the Burlington Tower in the Business Bay area of Dubai, will be headed by new hire Omar Al-Janabi. Mr. Al-Jabani…

Read More “Exclusive: TopFX hires Tickmill alum Omar Al-Janabi to head new Dubai office” »

It was a holiday shortened week as we head into the end-of-year break, but there was still plenty of Forex Industry News to report. Which online broker is running anti payment-for-order-flow (PFOF) ads, as pushback against the commission-free neo-brokers like Robinhood? How did eToro’s preliminary Q4 results look, after a weak Q3? What changes did…

Read More “FX week in review: Anti-PFOF ads, eToro results, GMI management, Playtech shareholder vote” »

FNG Exclusive… FNG has learned that Cyprus based FX broker and services provider TopFX has seen the departure of senior management member Michael Nichols. Michael Nichols joined TopFX in early 2019 as Head Of Institutional Sales, and was later promoted to Director Of Institutional Sales. Prior to TopFX he was a B2B sales consultant to…

Read More “Exclusive: TopFX institutional sales head Michael Nichols resigns” »

The U.S. Commodity Futures Trading Commission (CFTC) has announced that it has issued an order filing and simultaneously settling charges against Dubai residents Kunal Bansal and Vinit Agarwal and their Hong Kong and Dubai based firms Aralia Securities Ltd. and Vintage Bullion DMCC, respectively, for engaging in wash sales and non-competitive transactions. The order requires…

Read More “Dubai / Hong Kong trading firms hit with fines for Wash Trades” »

The following is a guest editorial courtesy of Andrew Lane, CEO of sentiment-based technology company Acuity Trading. Inflation, Omicron, energy crisis, Evergrande default, bond tapering and tensions between the US and China. These grabbed the headlines in 2021. Even in the face of such uncertainties, markets showed great resilience, and 2021 was overall a terrific…

Read More “Is it Time to Short Hyper-Growth Stocks?” »

The Cyprus Securities Exchange Commission (CySEC) announces that it has investigated the compliance of Forex broker AFX Capital Markets Ltd with The Investment Services and Activities and Regulated Markets Law and has decided to withdraw the Cyprus Investment Firm (CIF) authorisation of the company. Let’s note that the public announcement is made several months after…

Read More “CySEC announces withdrawal of AFX Capital Markets license” »

The Joint Special Administrators of Reyker Securities have provided an update to clients of the company. Despite extensive efforts to trace and notify Clients of the JSAs’ intention to close the Client Money Pool, there are over 800 Clients (previously 900) with Client Money totalling about £1 million yet to submit a claim and new…

Read More “Over 800 clients of Reyker Securities yet to submit claims” »

DigitalX Limited (ASX:DCC) announces that after an extensive executive search process it has appointed highly experienced finance industry executive Lisa Wade as Chief Executive Officer. Ms Wade has nearly 30 years of finance and financial markets experience working in organisations such as Citigroup, Bendigo Bank and most recently as Head of Digital Innovation and Sustainability…

Read More “DigitalX appoints Lisa Wade as CEO” »