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.
This week’s highlights include changes in the forex and crypto industries, significant legal updates, and notable product launches. MetaQuotes Clamps Down on TradingView Integration MetaQuotes, the developer behind the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, is tightening its grip on how brokers use its software. The company has introduced terms in its platform agreements that restrict integration with third-party trading platforms, including TradingView. While TradingView isn’t mentioned by name, the new clauses cover all external trading environments, limiting brokers’ flexibility. XTB Introduces Zero-Fee ISAs in the UK XTB has rolled out its long-awaited stocks and shares Individual…
Ten months after announcing its plans, XTB has officially entered the UK’s £400 billion ISA market. The fintech company now offers tax-efficient Individual Savings Accounts (ISAs) with zero trading commissions and a 4.75% interest rate on uninvested cash balances. A New Era for ISAs: Zero Fees and Competitive Interest XTB’s new stocks and shares ISA allows UK investors to trade without commission while earning interest on idle funds. Joshua Raymond, Managing Director of XTB UK, highlighted this launch as a significant step toward becoming a full-service investment and savings platform. The ISA is designed to offer flexibility, enabling investors to…
Tools for Brokers (TFB), a global leader in trading technology solutions, has announced a new partnership with UK-based brokerage Global Markets Group Limited (GMG). The collaboration will see the integration of TFB’s Trade Processor bridging system into GMG’s trading operations, boosting liquidity access and enhancing risk management for GMG clients. Advanced Technology for Better Trading The partnership focuses on leveraging TFB’s Trade Processor, a multiplatform liquidity bridge solution designed to connect brokers with multiple liquidity providers. The integration includes advanced order aggregation, flexible configurations, built-in risk management tools, and compliance-focused reporting. These features will allow GMG to optimize pricing and…
Upvest, a Berlin-based provider of investment infrastructure technology, has successfully raised €100 million in a Series C funding round. The company, which powers investment services for major platforms such as Revolut, N26, Plum, and bunq, processes over one million trades per week and serves more than 50 million users across Europe. Scaling Operations and Expanding Reach With the new funding, Upvest plans to accelerate its expansion in the UK and other markets, enhance its product offerings, and broaden its investment infrastructure to include derivatives, bonds, and other localized solutions like ISA and PEA pension wrappers. The company also aims to…
FunderPro, a prominent proprietary trading firm, has taken a significant step in the industry by integrating Acuity Trading’s AI-powered Research Terminal into its operations. This marks the first instance of a prop trading firm leveraging Acuity’s cutting-edge technology, setting a new benchmark for trader support tools. The partnership equips FunderPro’s traders with real-time market insights, advanced sentiment analysis, and global news updates, aiming to enhance decision-making in a fast-moving trading environment. FunderPro CEO Highlights Innovation “Traders deserve access to the most advanced tools available,” said Gary Mullen, CEO of FunderPro. “With Acuity’s Research Terminal, our traders can tap into critical…
Morgan Stanley Smith Barney (MSSB) has agreed to pay a $15 million penalty following allegations by the Securities and Exchange Commission (SEC) that weak supervisory policies allowed financial advisors to misappropriate funds from client accounts. The infractions, which occurred between 2015 and 2022, involved hundreds of unauthorized transactions. SEC Cites Compliance Failures The SEC investigation revealed that MSSB failed to implement sufficient safeguards to prevent unauthorized third-party disbursements. This included weaknesses in monitoring Automated Clearing House (ACH) payments and specific wire transfer patterns. In some instances, financial advisors exploited these gaps to transfer funds for their personal benefit. Notably, until…
The Funded Trader (TFT), a proprietary trading firm, shared a new update on Saint Nicholas Day (December 6), addressing ongoing delays in payouts and account resumptions. While clients have waited months for access to their frozen funds, TFT offered another apology alongside a revised recovery plan. The firm promised definitive resolutions by January 2025 for traders affected by the prolonged issues. Eight-Month Wait for Frozen Funds Some traders have been waiting since late March for their funds, with TFT citing operational disruptions as the cause of delays. In a statement released this week, the firm outlined a five-point recovery plan…
Trading and investment platform eToro is preparing for an initial public offering (IPO) in the United States during the second quarter of 2025, according to a report from Bloomberg. The company has reportedly engaged Goldman Sachs to oversee the process, with its valuation potentially exceeding $3.5 billion. eToro has not commented publicly on the plans. This marks eToro’s second attempt to go public after a previous effort in 2021 through a merger with a special purpose acquisition company (SPAC), FinTech Acquisition Corp. V. That deal was ultimately abandoned in 2022 due to a sharp drop in tech company valuations and…
NinjaTrader, a fintech platform known for its retail futures trading services, has launched a new real-time sentiment tool called NinjaTrader Pulse. This innovative indicator offers retail traders valuable insights into market sentiment by analyzing positioning data across major futures contracts like E-mini S&P 500, Nasdaq 100, crude oil, and their micro equivalents. The launch reflects the growing interest in futures trading among younger investors. Over the past five years, NinjaTrader’s average user age has dropped from 48 to 38, driven by increased participation from millennials. With a customer base of 1.7 million, NinjaTrader is responding to this demographic shift by…
Recent court filings in the lawsuit between the Commodity Futures Trading Commission (CFTC) and My Forex Funds have revealed significant missteps in the regulator’s investigation. The case centers on allegations of fund misappropriation by the proprietary trading platform and its CEO, Murtuza Kazmi. During an evidentiary hearing, Ashley Burden, the lead attorney for the CFTC, admitted his investigation was “careless and sloppy.” Misrepresentation of Key Financial Transaction The CFTC initially claimed a CAD 31.5 million payment made by My Forex Funds was misappropriated. However, evidence later showed the payment was made to Canadian tax authorities. Despite having access to this…