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 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…
Webull has introduced an overnight trading feature, granting retail traders 24/5 access to U.S. markets, allowing them to trade outside standard market hours and respond to events in real time. In collaboration with Blue Ocean Technologies, this new feature enables trading from 8:00 PM to 4:00 AM ET, Sunday through Thursday. Expanded Trading Hours for Enhanced Flexibility This feature, developed with Blue Ocean Technologies, extends Webull’s trading hours beyond typical pre-market and post market windows, offering nearly continuous access to the U.S. stock and ETF markets. With overnight trading, users can now react to impactful events such as earnings reports,…
UP Fintech Holding, the parent company of Tiger Brokers, has reported robust growth in its third quarter performance, with revenue reaching a record $101.1 million and a three year high in profits. A significant driver of this success was a 115% year over year (YoY) increase in client assets, totaling $40.8 billion. Rising Trading Activity Boosts Revenue UP Fintech’s Q3 revenue saw a notable 44.1% increase YoY and a 15.6% rise quarter over quarter (QoQ), fueled by elevated trading activity and strong client engagement. Non-GAAP net income for shareholders climbed to $20.1 million, marking a remarkable 286.5% QoQ increase and…
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…
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.…
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,…