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.
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…
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…
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…
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,…
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…