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…
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…
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…
Electronic trading major Interactive Brokers continues to expand its offering with dozens of new funds families made available at the Mutual Funds Marketplace recently. The Interactive Brokers Mutual Funds Marketplace provides clients from over 200 countries and territories with access to more than 45,000 funds from 475 fund families, including Allianz, American Funds, BlackRock, Fidelity,…
Read More “Interactive Brokers expands range of funds and fund families” »
FNG Exclusive Interview… Continuing our series of conversations with leading figures in the Retail FX sector, we’re pleased to speak today with Hisham Mansour, Founder and Managing Director at UAE based CFI Financial Group Holding Limited. FNG: Hi Hisham, and thanks for joining us today. Please let us know a little more about CFI, its…
Read More “Exclusive: Hisham Mansour of CFI on retail trading, cryptos, expansion, CX, and more” »
Italy’s Companies and Exchange Commission (CONSOB) has ordered the blackout of 28 new pages/websites that abusively offer financial services. The intervention follows a report from the Finance Police. Consob and the Finance Police have agreed to continue and intensify the collaboration related to this subject. To this purpose it was decided the institution of a…
Read More “Italy’s Consob blocks 28 investment websites after Finance Police report” »
