Copenhagen based Retail FX and CFDs broker Saxo Bank continued its improved start to 2022, reporting February client trading volumes that were basically flat with January. Average daily trading volumes came in at $21.0 billion, slightly above January’s $20.9 billion ADV at Saxo Bank, although total trading volumes were down by 4% MoM – $419.1…
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Payment services provider PayPugs, which has a number of Retail FX and CFD broker clients, has announced that it has partnered with fraud and transaction monitoring company Huntli to enhance PayPugs’ AML screening process and fraud detection system. The collaboration improves customer fund security and helps to meet regulatory requirements. The partnership solves the problem of obtaining…
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FNG Exclusive… FNG has learned that Graeme Watkins, CEO of London based Retail FX and CFDs broker Valutrades, has joined the board of a Singapore based investment fund called AMB Megatrends. AMB Megatrend is an FX and commodities investment fund founded and managed by Indonesia based serial FX entrepreneur Anil M. Bahirwani, who founded and…
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Affiliate marketing compliance monitoring specialist Rightlander has announced that it is expanding out of the iGaming sector, to enhance online brokers’ capabilities. Rightlander – which is fairly well-known in the iGaming space with clients like Bet365 and AWIN – said that it will offer its marketing compliance solution to online brokers across regulated markets including…
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Cryptocurrency exchange FTX Trading Limited (FTX) today announced the establishment of FTX Europe, marking the next phase of the company’s global expansion, by extending its presence into Europe and the Middle East. The company has secured the approval from the Cyprus financial market regulator CySEC through its ftx.com/eu domain. FTX Europe will now start offering…
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Robinhood has responded to a renewed complaint over its payment for order flow arrangements with several market makers, including Citadel Securities, which allegedly worsened execution quality and harmed Robinhood’s customers. Documents submitted by Robinhood at the Florida Southern District Court reveal the company’s push to dismiss the case. Let’s recall that the lawsuit was brought…
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The Commodity Futures Trading Commission (CFTC) has confirmed that it is unable to ascertain the current address or whereabouts of Jase Davis, an individual behind fraudulent Forex scheme ROFX. Although the regulator has marked some progress in its action against the fraudulent scheme, it is apparently having trouble locating Davis. According to a document filed…
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FNG has learned that former Citi and Deutsche Bank executive Sabrina Wilson has joined institutional crypto company Copper.co, as COO and official “#2” to Copper.co founder and CEO Dmitry Tokarev. Sabrina Wilson has spent her career mainly at Top Tier financial institutions, serving most recently (2017-2021) as Managing Director – Global co-Head of Futures, OTC…
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Ocean Markets is a broker that claims to have a 13-year history on the European markets while actually having no legal documentation to show for it. It also states that it has partnered with HSBC (a British bank, the second largest bank in Europe) which is a blatant lie as Ocean Markets is an offshore…
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Keep Silence to FX Scams? NO! These Scams Need to Know The Point-Spread Scam in the PastThe bid-ask spreads were manipulated by computers in an old point-spread forex fraud. The point gap between the bid and ask represents the commission paid by a broker in a back-and-forth transaction. The spreads between currency pairings are usually…
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