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.
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 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…
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…
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…
The Bank for International Settlements (BIS) has announced its decision to exit the mBridge cross-border payment project, a blockchain-based CBDC initiative led by China. This project, launched in 2021, aimed to expedite and improve transparency in cross-border payments through wholesale central bank digital currencies (wCBDCs). BIS Steps Back as mBridge Progresses Agustín Carstens, General Manager of BIS, revealed the decision at the Santander International Banking Conference, explaining that BIS’s departure signals the project’s successful progress rather than political reasons. Carstens emphasized that BIS is stepping back because the central banks involved, including China, Hong Kong, Thailand, the UAE, and more…
FXGT.com has introduced two new trading platforms, FXGT App and FXGT.com Trader, designed to improve user experience on both mobile and desktop. The mobile app is available on iOS and Android through the App Store and Google Play, while the desktop platform is accessible via any internet browser, providing users with versatile options to access global markets. Mobile and Desktop Accessibility FXGT.com’s latest offerings allow traders to manage their portfolios on the go. The mobile app includes a one-click trade feature, enabling quick order execution especially valuable in fast-moving markets. The app also supports multiple languages, appealing to a diverse…
The Securities Commission Malaysia (SCM) has added InstaForex and InstaTrade, brands under the InstaFintech Group, to its investor alert list, flagging them as unauthorized entities. This action is part of the SCM’s ongoing effort to warn the public about potential risks in unlicensed trading platforms. SCM Alerts Public on InstaForex and InstaTrade Activities The SCM announced on Monday that it has expanded its list of flagged entities, now including InstaTrade and InstaForex, both known brands in the international FX, CFD, and retail trading sectors. According to the SCM, these platforms are allegedly conducting unlicensed capital market activities involving securities dealing,…
Online trading provider CFI Group recorded a remarkable trading volume of $1.03 trillion in Q3 2024, representing a 34.47% increase from Q2 and a 129.4% surge year over year. This growth aligns with CFI’s strategic initiatives to capture rising market demand and expand its global footprint. Significant Growth in Client Base CFI’s client numbers rose sharply, with funded accounts up by 45.93% compared to the previous quarter and a notable 128.75% year over year increase. Active accounts saw a 28% quarterly growth and a 110% annual rise, reflecting CFI’s success in both attracting and retaining clients through enhanced engagement initiatives.…
Starting today, proprietary trading platform Blueberry Funded has rolled out updates to its forex and metals trading symbols on the DX Trade platform, aiming to improve user experience and efficiency. The changes will make symbols ending with a “/” suffix inactive, while new symbols with a “.i” suffix will become the standard across all forex and metals trades. Transition to New Symbol Format According to Blueberry Funded, the update will gradually phase out symbols ending in “/,” setting them to a “close only” status. Traders with open positions using these symbols can still close them, but no new trades can…