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 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…
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…
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,…
Foresight Ventures, a prominent investment firm specializing in Web3 and blockchain projects, has announced a strategic partnership with Deep Blue, a new Jersey-based stablecoin issuance platform, and Arta TechFin Corporation Limited (HKSE: 0279), a Hong Kong-listed financial services and blockchain development firm. This collaboration aims to drive growth in the Stablecoin and Real-World Asset (RWA) sectors, bridging traditional finance with the emerging blockchain economy. Expanding the Stablecoin and RWA Ecosystem Deep Blue, known for its secure and versatile stablecoin issuance platform, brings together expertise from both digital assets and traditional finance. This partnership will allow users to leverage Deep Blue’s…
B2Broker, a leading provider of technology and liquidity solutions for the Forex and crypto markets, has introduced significant updates to its B2CORE CRM and back-office platform. These updates include the latest 16th version release of B2CORE, a new Android app, and enhanced features for its iOS app. Enhanced Usability, Security, and Analytics in B2CORE Update With the latest B2CORE release, B2Broker has improved usability, added security features, and integrated advanced analytics tools. The new version provides cTrader clients with the ability to manage bonus programs directly in the B2CORE Back Office, allowing businesses to customize bonus amounts, duration, and applicable…
Australian-based forex and contracts for differences (CFDs) broker AUS Global has taken a significant step in its Middle East expansion, securing a Category 5 license from the Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE). This new license highlights the firm’s focus on establishing a strong presence in the region. In an announcement translated from Arabic, AUS Global stated, “This milestone strengthens our commitment to providing secure and innovative trading solutions worldwide.” Operating Under Multiple Licenses With the addition of the UAE license, AUS Global now operates under regulatory approvals from authorities in Australia, Cyprus, South Africa,…
Proprietary trading firm Goat Funded Trader (GFT) has announced a temporary suspension of live trading accounts during the U.S. presidential election period, from November 5 to 6, as a precautionary measure against anticipated market volatility. Election-Driven Trading Halt and Cautionary Measures GFT informed its clients via social media that trading on all live accounts would be disabled from November 5, 5 pm UTC, until November 6, 1 pm UTC. This step aligns with common industry practices where firms limit trading during high-risk events to manage extreme price fluctuations. GFT has advised clients to close all open positions in live simulated…
Dukascopy Bank has introduced a new line of money market investment products to mark its 20th anniversary, offering attractive annualized interest rates for USD, GBP, and EUR holdings. Known as Interest USD, Interest GBP, and Interest EUR, these products provide rates of 5.70% for USD, 5.45% for GBP, and 4.03% for EUR, based on the performance of underlying funds. Designed for clients with moderate risk tolerance seeking stable, short-term returns, these investments are available to MCA account holders. Dukascopy aims to offer safer portfolio growth options, catering to investors interested in predictable income on their EUR, USD, and GBP assets.…
Interactive Brokers Group, Inc. (Nasdaq: IBKR) has released its October report, showcasing significant growth across several metrics for its electronic brokerage services. The firm reported a 46% increase in Daily Average Revenue Trades (DARTs), totaling 2.82 million for the month. This reflects a 7% rise compared to the previous month and highlights the growing activity on the platform. Client equity also surged to $540 billion, marking a 47% year over year increase. Additionally, client accounts rose by 28%, reaching 3.2 million, while client credit balances saw a slight increase of 2%, reaching $117.6 billion. Interactive Brokers provides automated trade execution…