Skip to content
  • Home
  • About
  • Contact
  • Page
  • ​Master SEO Tactics
  • Top 9 Finance News Websites Ranking
wikifx

wikifx

  • Home
  • About
  • Contact
  • Page
  • ​Master SEO Tactics
  • Top 9 Finance News Websites Ranking
  • Toggle search form
  • Nadex bans 14 traders for engaging in manipulative scheme forex news
  • Cornerstone FS to acquire Capital Currencies for up to £3 million forex news
  • Former Deutsche Bank traders seek to overturn wire fraud convictions forex news
  • Saracens and StoneX release 2 oz Commemorative Silver Coin forex news
  • Exness posts $947B in FX/CFD trading volumes for September, +8% MoM forex news
  • Worldline to enable online businesses to launch their own payment method forex news
  • CMC Markets reports transactions in its shares by CFO and Deputy CEO forex news
  • Exclusive: Dukascopy head of sales Sofian Berrahal jumps to Nexpay forex news

FX week in review: eToro IPO troubles, PrimeXM repels hack, Z.com FCA license, ZuluTrade acquired

Posted on 2021-12-20 By admin No Comments on FX week in review: eToro IPO troubles, PrimeXM repels hack, Z.com FCA license, ZuluTrade acquired

Why is eToro’s plan to go public being delayed? And what troubles is eToro facing in getting its SPAC merger done?

What did (and didn’t) happen in the hack and ransom demand attack against MT4/5 hosting provider PrimeXM?

Why is Japan’s (and the world’s) largest Retail FX broker, Z.com, relinquishing its UK FCA license?

Who acquired ZuluTrade?

Answers to these questions. and a whole lot more, appeared first or exclusively this past week at FNG. Some of the most read and commented-on FX industry news stories to appear over the past seven days on FNG included:


eToro $10 billion SPAC IPO deal in trouble. Israeli business news source Calcalist is reporting that the going-public plan for Retail FX, CFDs, and crypto broker eToro via a merger with special purpose acquisition company (SPAC) Fintech Acquisition Corp V (NASDAQ:FTCVU) is in trouble – at least in its current format. According to Calcalist, the eToro-SPAC deal is unlikely to be completed in the few remaining business days of 2021, and that – combined with the trouble eToro’s main comparable / competitor Robinhood is having – is putting the deal itself in jeopardy. The current agreement is to see eToro merge with the SPAC at an implied valuation of $10 billion for eToro. The deal includes an injection of an additional $650 million in capital from a group of private equity investors (ION, Softbank, Third Point, Fidelity, Wellington), and a $300 million secondary share sale by company insiders and existing shareholders.

PrimeXM fends off hosted MT4/5 server hack attack and ransom demand. There have been rumors circulating in the FX world the past few days about a targeted hack attack against FX broker tech, liquidity, and hosting provider PrimeXM, specifically targeting its MT4/5 hosted servers. PrimeXM provides dedicated MT4/5 hosting and connectivity services for quite a number of FX and CFD brokers. The rumors have included multiple PrimeXM-hosted brokers being “down” and at risk of losing client data, and PrimeXM itself being asked to pay ransom to free everything up. We understand that these rumors are a large exaggeration of what actually happened. So what did (and didn’t) happen?

Exclusive: GMO-Z.com Trade UK applies to cancel FCA license. FNG Exclusive… It looks like Japan’s largest Retail FX broker is taking leave of its regulated business in the UK. FNG has learned that GMO-Z.com Trade UK Ltd, the London arm of Japan’s GMO Click Securities (and ultimately of publicly traded parent company GMO Internet Inc. TYO:9449) has made an application to have its FCA license cancelled. GMO-Z.com UK has held an FCA license since 2014. The company initially had plans to launch a UK-based Retail FX and CFDs operation targeting UK and EU traders using its Z.com retail brand, but late last decade that morphed into an institutional-focused business focused on B2B liquidity for FX and CFD products to Retail FX brokers, institutional traders and hedge funds.

Finvasia Group acquires social trading network ZuluTrade. Finvasia Group today announced the acquisition of social network for trading and investing ZuluTrade. In addition to ZuluTrade, the deal also includes AAAFx, which holds a portfolio management license from HCMC. Finvasia has been expanding its presence across Europe, North America and Middle-East via various organic and inorganic expansions to create a complete ecosystem that will cater to the needs of retail and institutional investors. As of today, Finvasia owns over a dozen brands in the fintech and financial services industry and touches millions of investors around the world. It has physical presence in more than 5 countries, serves clients in over 150 countries and is regulated by over a dozen regulators across the world.

Top FX industry executive moves reported at FNG this week included:

Paula Dwyer

forex news Tags:forex-news

Post navigation

Previous Post: CME suspends trader for engaging in disruptive practices
Next Post: CME reports Micro Ether Futures volume exceeding 100,000 contracts

Related Posts

  • Exclusive: FXCM alum Adam Dougall hired as CEO of GKPro forex news
  • IG Japan to stop offering US FANG stocks forex news
  • Consob reports more than 550 investment websites blocked in Italy forex news
  • CFTC amenable to settlement talks in ForexNPower case forex news
  • Eddie Jordan group given until January 5 to make a bid for Playtech forex news
  • Plus500 shareholders punish company for not hedging, shares off 4.5% forex news

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • EUR/USD Holds Near 1.05 as Fed, ECB Policies Shape Market Sentiment
  • Gold Prices Hold Steady Amid Global Economic Uncertainty
  • Australian Dollar: How RBA Policies, Commodity Prices, and Global Tensions Are Shaping the AUD’s Market Performance
  • EUR/USD: Understanding the Currency Pair’s Trends
  • USD Under Pressure: Navigating Economic Data and Global Uncertainties

TAG

Axiory Review 2022 B2B B2Broker News Basic Forex Knowledge broker brokers brokers in the UK Brokersview Broker tools CFDs coin News cryptocurrency Cryptocurrency News Crypto News dogecoin FCA news finance forex forex-news Forex Broker Forex Brokers Forex Demo Account Forex market forex news forex scams forex time Forex trading fx fxtrader fxtrading Global Forex Gold Analysis HotForex InstaForex LiteForex Review 2022 markets work MT4 MT5 news OctaFX Review Samtrade FX South Africa trade Forex traders Trading Forex
  • Exclusive: Skilling adds Fan Token CFD trading forex news
  • CFTC proposes final judgments against former Deutsche Bank traders forex news
  • Visa announces new platform, Visa Acceptance Cloud forex news
  • First ESG-focused Gold Mining ETF to launch on London Stock Exchange forex news
  • FCA registers the first UK securitisation repositories forex news
  • CySEC grants certain UK firms permission to operate under TPR forex news
  • Customers of Berndale, USGFX, MyPlanner to benefit from new Aussie scheme forex news
  • In Forex, what is a Pending Order? forex news

Copyright © 2025 wikifx.

Powered by PressBook News WordPress theme