Author: Fajar Febriansyah

IC Markets, a leading broker specializing in contracts for differences (CFDs), has renewed its partnership with World Table Tennis, continuing as the “Official Trading Partner” for the organization. The partnership, which began in 2023, has been extended to cover the latest event calendar through 2025. The renewed agreement kicked off with the WTT Finals Fukuoka 2024 and will feature IC Markets branding prominently at tournaments across Asia, Europe, and Africa. Blythe Fitzwiliam, Commercial Partnerships Director at World Table Tennis, expressed excitement about the extended collaboration, stating, “IC Markets has been an integral partner in our journey since 2023, and we’re…

Interactive Brokers, along with three local firms, has been implicated in a Hong Kong regulatory action involving suspected market manipulation and account hacking. The Securities and Futures Commission (SFC) has frozen HK$91 million in assets across the four brokerages, citing unauthorized trading activity that occurred between October 24 and November 6. The SFC issued restriction notices to Interactive Brokers Hong Kong Limited, SBI China Capital Financial Services, Monmonkey Group Securities, and Soochow Securities International Brokerage. These notices prevent the firms from handling, disposing of, or dealing with specific client assets without prior approval from the regulator. The affected brokers must…

CMC Markets, a London-based brokerage, reported a significant 50% increase in trading revenue for the six months ending September 2024, reaching £131.3 million. The broker also confirmed that it has begun onboarding clients through its partnership with Revolut, following a soft launch earlier this year. Strong Revenue and Profit Recovery The broker’s total net operating revenue for the first half of fiscal year 2024 rose by 45% to £177.4 million, driven by increased institutional activity and higher client trading volumes. This includes £19.9 million from investing net revenue and £23.4 million from interest income. CMC Markets recorded a pre-tax profit…

Online trading broker CFI has been announced as the official sponsor of the Arabian Gulf Cup, known as Khaleeji Zain 26, which will take place in Kuwait from December through January. Event Highlights and CFI’s Sponsorship Role The Arabian Gulf Cup, organized by the Arab Gulf Cup Football Federation, will feature eight nations: Kuwait, Oman, UAE, Saudi Arabia, Bahrain, Qatar, Iraq, and Yemen. As an official sponsor, CFI will gain prominent brand visibility throughout the event and will engage directly with fans through various interactive initiatives. These initiatives aim to bring attendees closer to the action, furthering CFI’s commitment to…

Finalto Group has announced the appointment of Andrew Biggs as Chief Executive Officer of Finalto Trading, effective immediately. Biggs will focus on driving innovation, enhancing client services, and expanding the company’s influence within the global trading industry. Strategic Vision and Leadership With over 15 years of experience in the financial and trading sectors, Andrew Biggs has a strong track record of leading growth initiatives and advancing technological capabilities. Before stepping into his new role, Biggs served as Group Head of Risk and Trading at Finalto, where he played a critical role in shaping the company’s products and strategies. As CEO,…

The Netherlands’ Authority for the Financial Markets (AFM) has launched an investigation into Vantage Markets, a contracts for difference (CFD) broker, over allegations of operating without a license in the country. Alongside the investigation, the AFM issued a penalty order, threatening fines of €10,000 per day, up to a maximum of €100,000, for non compliance if Vantage fails to provide the requested information. Vantage Under Regulatory Pressure in Europe According to the AFM, Vantage Global Limited, operating as Vantage Markets, allegedly offered CFD trading services to Dutch retail investors without the necessary regulatory approval. CFDs are considered high risk products,…

Banxso, a CFD brokerage firm, has stopped accepting new clients under its Cyprus Investment Firm (CIF) license and is also facing regulatory challenges in South Africa. Finance Magnates reported that Banxso’s EU website is now mostly inactive, with services disabled, and the broker appears to be shifting away from its Cyprus operations. Suspension of Cyprus Onboarding Despite Active License A notice on Banxso’s EU website confirms that Banxso Ltd, licensed under CySEC (License Number 413/22), is no longer onboarding clients. Although the Cyprus license remains active, archived data suggests Banxso halted new client registrations in April, with only Cyprus residents…

The Cyprus Securities and Exchange Commission (CySEC) has issued a warning to investors about multiple unregistered websites, including those associated with names like WeonMarket, Nortenway, and PrimusCFD. The regulator urges investors to verify companies’ registration status on CySEC’s official site before investing to avoid potential fraud. Unregistered Websites Identified CySEC’s alert highlights several unauthorized websites that are not affiliated with any licensed entity authorized to provide investment services. Some of these sites may be fraudulent clones, designed to deceive investors by mimicking legitimate firms through similar names, logos, and contact details. The unregistered websites include WeonMarket and its related platform…

The Cyprus Securities and Exchange Commission (CySEC) has announced the removal of AMP Global Ltd from the Investors Compensation Fund (ICF) following the firm’s decision to withdraw its Cyprus Investment Firm (CIF) authorization. ICF Removal and Compensation Eligibility Despite the termination of ICF membership, AMP Global’s former clients may still be eligible for compensation for investments made before the withdrawal, as long as they meet the criteria outlined in CySEC’s Directive DI87-07. This process allows clients to potentially receive compensation for past investment activities, even with the company’s recent ICF departure. AMP Global Halts European Operations AMP Global, a U.S.-based…

Thomas Peterffy, the Founder and Chairman of Interactive Brokers, shared insights on CNBC regarding market trends following Donald Trump’s recent election victory. Broker stocks, including Interactive Brokers, saw significant gains as part of the broader market rally. Favorable Regulatory Environment Boosting Market Prospects Peterffy noted that while the surge may not be entirely justified, a more favorable regulatory landscape is likely to drive market activity in the future. “We are looking at a much better regulatory environment, which will provide significant support for the markets,” he said. Growth in Overnight Trading Liquidity Discussing the evolution of trading patterns, Peterffy highlighted…