Richard Usher, a former Forex trader known for his participation in the “Cartel” chatroom, refuses to abandon the lawsuits he has brought against the Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ). Those lawsuit accused the CFTC and the DOJ of illegally preventing Usher from accessing documents that he would need in…
Read More “Forex Cartel trader refuses to drop lawsuits against CFTC, DOJ” »
Social trading focused brokerage startup Public.com has announced a new sponsorship deal with the Premier Lacrosse League (PLL), in which Public.com has been named the official investing app of the PLL. This is Public.com’s first professional sports partnership deal at the league level. “The lacrosse and investing communities share a common history of exclusivity and…
It was one of the busiest weeks of the year in the Forex Industry News realm, with all of the key stories appearing first or exclusively here on FNG. Why did TikTok add Forex, CFDs, and crypto trading to its banned list for Branded Content? Who bought a 30% stake in institutional FX and crypto…
Read More “FX week in review: TikTok Forex/CFDs/crypto ban, LMAX $1B valuation, Plus500 results” »
North American Derivatives Exchange (Nadex), a part of IG Group Holdings plc (LON:IGG), has taken disciplinary action against a trader who did not inform the exchange of his disciplinary history. The Compliance Department opened an investigation upon receiving information from Nadex’s third-party background service regarding the recent regulatory history of Nadex Member Rafael Muzzi. Specifically, the…
Read More “Nadex bans FX trader for hiding disciplinary history” »
SIX welcomes Global X ETFs as a new issuer on the Swiss stock exchange. This is the second new issuer of Exchange Traded Funds in 2021 (after Tabula) and already the ninth product issuer (including ETPs) joining one of Europe’s leading stock exchanges. “Investors increasingly turn to SIX in order to trade ETFs. In 2020,…
Provider of post trade services for the financial industry Euroclear today posted a set of solid metrics for the first half of 2021. Operating income for the first six months of 2021 increased 7% to EUR 777 million (H1 2020: EUR 730 million). Business Income rose 13% to EUR 723 million, whereas Banking and Other…
Read More “Euroclear posts 11% rise in net profit in H1 2021” »
Sweden’s financial supervisory authority FI has deregistered Depaho Ltd, the operator of retail FX broker FXGM. This happens a week after the Cyprus Securities and Exchange Commission (CySEC) announced that the authorisation of the Cyprus Investment Firm Depaho Ltd, was suspended. The decision means that the company may no longer provide investment services or conduct…
The Australian Government has published its proposals for establishing a financial services compensation scheme of last resort (CSLR). The CSLR will provide limited compensation where a determination issued by the Australian Financial Complaints Authority (AFCA) remains unpaid and the determination relates to a financial product or service within the scope of the scheme. The Government…
Read More “Australia to establish financial services compensation scheme of last resort” »
Retail Forex and CFD broker FxPro has announced another update to its trading instrument list. The broker has added over 100 new CFDs on popular Stocks to its offering. FxPro clients can now trade the Shares of the most demanded US, UK, German and French companies. Among the newcomers are Hugo Boss, Ozon, Monday.com, Coursera,…
Read More “FxPro adds more CFDs on shares to its offering” »
Online trading and investment specialist Saxo Markets has announced a suite of price reductions which are designed to allow more of its retail clients in Hong Kong to invest in the global capital markets at some of the lowest rates available. Saxo is lowering commission to 0.05% (down from 0.08%) with a HKD18 minimum charge…
Read More “Saxo Markets announces price reductions for HK retail clients” »
