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.
Match-Trade Technologies has introduced significant upgrades to its proprietary trading solution, focusing on improving its Customer Relationship Management (CRM) system. These new features are designed to streamline challenge management, enhance trader communication, and offer greater flexibility for brokers managing prop trading programs. Manual and Automatic Progression Options One of the standout updates is the introduction of a flexible phase progression system. Brokers now have the ability to choose between manual and automatic progression through different challenge stages, providing a higher level of control and customization. This flexibility allows brokers to determine whether traders can automatically move to the next phase…
As the global trading landscape continues to evolve, firms are facing a growing demand from employees for shorter market hours and increased workplace flexibility. A recent study by Sustainable Trading highlighted that long hours, lack of flexibility, and concerns over career growth remain major challenges for many professionals in the industry. Survey Insights: The Need for Change A survey of 270 trading professionals revealed that companies must adapt to meet the expectations of a modern workforce and retain top talent. The report showed that a substantial 35% of respondents who provided additional comments emphasized the need for shorter market hours.…
Two UK-based subsidiaries of the U.S. market-making giant Citadel Securities have published their financial results for 2023, revealing a combined profit increase of 35% compared to the previous year. While one branch saw a slight decline in performance, the other delivered strong results, driving overall growth. Revenue and Profit Growth at Citadel Securities UK The financial reports for Citadel Securities (Europe) Limited and Citadel Securities Finance (UK) Limited, two subsidiaries of Citadel Securities Group, were recently made available through the UK’s Companies House. Citadel Securities (Europe) Limited, which specializes in providing liquidity and market-making services in equities and futures, as…
The U.S. Securities and Exchange Commission (SEC) has taken action against Harvest Volatility Management LLC and Merrill Lynch, Pierce, Fenner & Smith Inc. over violations related to excessive client exposure in investment accounts. These breaches, which occurred between 2016 and 2018, led to increased fees, heightened financial risks for clients, and significant investment losses. Both Harvest and Merrill Lynch have agreed to pay a total of $9.3 million in penalties and restitution to settle the charges brought by the SEC. Investor Risk Exposure and Increased Fees According to the SEC’s findings, Harvest Volatility Management acted as the investment adviser and…
London-based retail broker FxPro UK has reported a return to profitability for the year ending December 2023, following two consecutive years of losses. The company’s latest financial report, filed with Companies House UK, highlights a significant boost in revenue, driving its recovery. FxPro posted a profit of £153,103 for 2023, a marked improvement from the £614,558 loss it reported the previous year. The broker also reversed an operating loss of £611,497, turning it into a profit of £93,283. While distribution costs rose from £212,780 to £331,517, FxPro successfully reduced its administrative expenses, bringing them down from £1,511,382 to £1,182,292. Strong…
Trive South Africa has officially started accepting clients for derivatives trading, marking its entry into the competitive African financial markets. The broker, operating under a license from the Financial Sector Conduct Authority (FSCA), is led by Marius Grobler, who was previously the Chief Operating Officer for Trive in the MENA region. Trive South Africa Expands into the Derivatives Market In addition to offering popular platforms like MetaTrader 4 and 5, Trive South Africa plans to launch a copy trading feature, Trive Social, and is developing its own proprietary trading platform. The company aims to become “the premier choice for derivatives…
Tradeslide Trading Tech Limited, the company behind the Darwinex brand in the UK, has reported its financial results for 2023, showcasing a substantial increase in profit even as revenue declined. The firm’s equity rose by 29% compared to the previous reporting period, which spanned 18 months and ended in December 2022. Profit Growth and Capital Strengthening Despite a 45% drop in operating profit, from €466,812 to €252,566, Tradeslide’s overall profit grew by 54%, rising from €377,000 to €582,000. The company credited this improvement to enhanced gross profit and optimized cost management. “The company has significantly improved gross profit in comparison…
Everton Football Club has entered into a new partnership with Corpay, Inc., making Corpay’s Cross-Border Solutions the club’s Official Foreign Exchange (FX) Supplier. The collaboration aims to help Everton manage its foreign exchange exposure and streamline global payments for its day-to-day operations. Enhancing Global Payment Solutions Through this partnership, Everton FC will leverage Corpay’s Cross-Border services to improve its handling of FX-related challenges that arise in its business activities. Corpay’s expertise will allow the club to manage currency risks more effectively, ensuring smoother financial operations. “As we continue expanding the Corpay brand globally, this partnership further cements our position as…
Webull Canada has launched options trading on its investment platform, offering users new opportunities to manage risk and diversify their portfolios, regardless of market conditions. This addition allows traders to hedge their investments, speculate on price movements, and generate additional income with a smaller upfront commitment. Webull’s Options Trading Feature With the introduction of options trading, Webull Canada empowers its users with tools to take advantage of market volatility and better manage investment risks. “Options have been one of the most requested features from our users, and I’m extremely proud of the team for making this a reality,” said Michael…
Axi, a prominent forex and contracts for differences (CFDs) broker based in Australia, has expanded its global footprint by opening a new office in Bangalore, India. Though the office opening was officially announced today, it was inaugurated several weeks ago, according to a statement by the company. Strengthening Presence in Bangalore In a recent social media update, Axi highlighted that members of its executive team visited India to attend the office opening and meet the local staff. The company expressed enthusiasm about the rapid growth in Bangalore, although specific details regarding the business operations or goals for the new office…