Author: Fajar Febriansyah

Proprietary trading firm My Forex Funds and its CEO, Murtuza Kazmi, are reportedly in negotiations with U.S. and Canadian regulators over a potential settlement, following lawsuits alleging fraud. This development comes after significant regulatory action from the Commodity Futures Trading Commission (CFTC) and the Ontario Securities Commission (OSC). Legal Battle and Business Disruption In August 2023, the CFTC accused My Forex Funds and Kazmi of defrauding customers. According to the complaint, the firm generated at least $310 million in fees from its proprietary trading platform, which attracted over 135,000 clients between November 2021 and its closure. The charges led to…

Spotware has released cTrader 5.0, a major upgrade now available for all cTrader brokers and proprietary trading firms. The latest version brings significant enhancements to the Windows, Web, and Mobile platforms, focusing on advanced algorithmic trading, cloud integration, and improved user customization. Enhanced Algo Trading Across Devices The update introduces a revamped Algo app, formerly known as cTrader Automate, which simplifies the use of algorithms across devices. With the integration of cTrader Cloud, traders can now access, share, and execute algorithms seamlessly from any device, including mobile, without relying on local computing resources. This feature is available free of charge.…

Prop trading firm FXIFY is expanding beyond its traditional CFD offerings with the introduction of FXIFY Futures and an Instant Funding program. These updates have generated significant interest, with over 100,000 traders registering for the futures platform’s waitlist ahead of its open beta release. Expanding into the Futures Market The FXIFY Futures platform is currently in “private beta,” with limited information shared publicly. The official website encourages users to join the waitlist and refer others, with active participants eligible for rewards such as discounts, cash bonuses, and free challenges once the platform launches. The move into futures trading may be…

DeFinity Markets has enhanced its institutional digital asset platform by integrating Chainalysis, a leading blockchain data and compliance platform. This strategic partnership aims to bolster compliance measures and improve risk management for institutional clients navigating the digital asset space. Expanding Compliance Capabilities with Chainalysis Chainalysis provides advanced blockchain analytics and compliance tools to organizations in over 70 countries, including government agencies, cryptocurrency exchanges, and financial institutions. The platform enables real-time transaction monitoring to detect and mitigate illicit activities in the cryptocurrency sector. Chris Park, Chief Risk Officer at DeFinity Markets, shared his excitement about the collaboration:“We are thrilled to bring…

The European Securities and Markets Authority (ESMA) has set a 2027 deadline to transition from the current T+2 settlement cycle to a T+1 settlement cycle, aiming to enhance market efficiency, reduce risks, and align the European Union’s practices with global standards. Streamlining Settlement Processes In its latest report, ESMA outlined the advantages of reducing the settlement period from two days (T+2) to one day (T+1). This shift is expected to improve the efficiency of EU capital markets while supporting broader goals, such as the integration of the Savings and Investment Union. The proposed implementation date for the T+1 settlement cycle…

The Cyprus Securities and Exchange Commission (CySEC) has officially withdrawn the Cyprus Investment Firm (CIF) license of Reliantco Investments Limited, the operator of UFX.com. The decision came after the regulator determined that the company had ceased offering investment services for more than six months. Suspension of UFX Services UFX, a retail brokerage specializing in forex and contracts for difference (CFDs), appears to have closed its operations. Last year, the company’s website announced that it had stopped providing investment services to users in multiple regions. Additionally, UFX blocked new account registrations and voluntarily renounced its CIF license. In a statement, CySEC…

The Cyprus Securities and Exchange Commission (CySEC) has officially withdrawn the Cyprus Investment Firm (CIF) licenses of two companies: Arumpro Capital Ltd and Greenpost Trading Europe Ltd, following their voluntary renouncement of authorizations. Arumpro Capital License Revoked On November 11, 2024, CySEC announced the revocation of Arumpro Capital Ltd’s CIF authorization. The decision was made after the company voluntarily renounced its license in accordance with the Investment Services and Activities and Regulated Markets Law of 2017. In a statement published on its website, Arumpro Capital expressed regret over its decision, stating, “We regret to inform you that Arumpro Capital Ltd…

Social investing platform eToro has obtained approval to operate in New York, marking a key milestone in its global growth strategy. The platform now aims to offer access to stocks, options, cryptocurrencies, commodities, and indices to customers in the region. Expanding Services in New York Yoni Assia, eToro’s Founder and CEO, expressed enthusiasm for the company’s launch in New York. Speaking in an interview shared on the NYSE LinkedIn page, Assia stated, “We are thrilled to introduce eToro to New York customers, allowing them to trade stocks and options seamlessly. Globally, our users can also trade cryptocurrencies, commodities, and indices,…

US-based commission-free brokerage Firstrade is set to introduce overnight trading for stocks and ETFs in early 2025, enabling investors to trade 20 hours a day, five days a week. This move aims to provide international traders with more flexibility to respond to global market trends and breaking news. Extended Trading Hours for Global Accessibility The new trading schedule will extend from 8:00 AM ET to 4:00 AM ET the following day, bridging the gap between traditional US market hours and international time zones. By offering a broader trading window, Firstrade hopes to attract global investors who seek faster reactions to…

Proprietary trading firm The Funded Trader has shared updates on its operational recovery following a recent relaunch. The firm has resumed paused accounts, restructured payouts, and is actively working to address financial obligations, with 900 traders still awaiting payments. Unsustainable Payout-to-Revenue Ratios The firm acknowledged past issues with an unsustainable payout structure, where monthly payouts reached as high as 75–80% of revenue from challenge fees. This imbalance created financial strain, prompting a reevaluation of its payout policies. “Previously, we were operating with an unsustainably high payout-to-revenue ratio,” the firm stated on X, highlighting the challenges that led to the suspension…