Author: Desmond Brooks
Desmond Brooks
Desmond Brooks is a skilled financial strategist with a keen eye for market analysis and trading opportunities. With a solid foundation in finance and a passion for economic trends, Desmond provides clear, actionable insights that help traders navigate the complexities of the market. He has contributed to several financial platforms, where his expertise in strategic planning and risk management has made him a trusted voice in the trading community.
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,…
Global multi-asset CFD broker ACY Securities has announced the acquisition of Ingot Brokers South Africa, gaining a license to operate under the Financial Sector Conduct Authority (FSCA). This strategic move strengthens ACY Securities’ footprint in Africa as part of its broader global expansion plan. Expanding Services to South African Clients With this acquisition, ACY Securities now offers South African clients access to over 2,200 financial instruments in a regulated trading environment. This marks a significant step in extending the company’s services and advanced trading technology to the region. A key highlight of the expansion is the introduction of LogixTrader, ACY’s…
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…
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…
Prop trading company FunderPro has announced its upcoming Futures trading service, opening a waitlist for early access on a dedicated site, funderprofutures.com. This new service is part of FunderPro’s strategic expansion to broaden trading options for its users. FunderPro’s Integration with cTrader This announcement follows closely on the heels of FunderPro’s recent integration of the cTrader platform. By adding cTrader, a versatile forex and CFD trading platform, FunderPro aims to enhance its offering with a broader selection of financial instruments and a robust liquidity network, making it accessible to both corporate and individual traders. This integration aligns FunderPro with other…
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…
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 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,…
APM Capital Markets, formerly known as BUX Financial Services, reported a decrease in revenue and profit in its 2023 fiscal year, as the company prepared for acquisition by Asseta Holding Limited, an Abu Dhabi-based firm. The acquisition has led APM to transition its customers off its current trading platform in anticipation of the sale. In the fiscal year ending 2023, APM’s revenue dropped to £843,938 from £1,523,424 in 2022, while losses increased to £2,993,957, up from £2,259,242 the previous year. The company attributed the decline to a shift in strategy focused on maintaining core operations and regulatory compliance over business…