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.
NinjaTrader Clearing, LLC (NTC) has been fined $983,425 by the Commodity Futures Trading Commission (CFTC) for failing to properly oversee the management of fraudulent accounts. As part of the penalty, the company must pay a $750,000 civil fine and $233,425 in restitution to victims of the fraud. Lapses in Account Supervision The CFTC claims that NinjaTrader, a futures commission merchant based in Illinois, neglected to sufficiently monitor employee actions related to accounts flagged as fraudulent. A court order had required the company to freeze or restrict these accounts immediately, but NinjaTrader reportedly delayed action. This delay resulted in open positions…
StoneX Financial Inc. has settled with ICE Futures U.S. for a fine of $20,000 following an April 2023 trading incident. No customers were affected by the issue. ICE Futures U.S. has reached a settlement with StoneX Financial Inc., resolving charges of trade practice violations. The charges stem from an incident on April 27, 2023, involving potentially improper trading practices, though no customer harm was reported. Incident Involving Cocoa Futures The issue arose when a StoneX employee allegedly placed conflicting buy and sell orders in the Cocoa Futures spread market. ICE’s Business Conduct Committee determined that this could have resulted in…
The fintech company, celebrating 20 years in the industry, partners with the football icon as part of a major brand refresh. XTB, the renowned Polish fintech firm, has announced a high-profile partnership with football legend Zlatan Ibrahimović, marking a key moment in the company’s 20th anniversary celebrations. This collaboration will spearhead a global media campaign across multiple countries, underscoring XTB’s continued growth and brand evolution. Zlatan Ibrahimović Joins XTB’s Ambassador Lineup To coincide with the brand’s refreshed logo and milestone anniversary, XTB has appointed Zlatan Ibrahimović as its newest ambassador. Known for his charisma both on and off the field,…
The popular fintech company, Robinhood, has entered into a significant sponsorship agreement with the Memphis Grizzlies, becoming the official jersey patch partner for the NBA team. The partnership, beginning in the 2024–25 season, will see Robinhood’s branding featured prominently on the Grizzlies’ jerseys. Additionally, the company’s presence will extend throughout the Grizzlies’ ecosystem, including baseline advertisements, social media, and televised broadcasts. A Partnership Focused on Innovation and Community Ted Roberts, Vice President of Partnership Marketing for the Memphis Grizzlies, expressed enthusiasm for the deal, stating: “We’re thrilled to welcome Robinhood, a leader in financial services, as our official jersey and…
Zaid Aloul has been named Chief Commercial Officer (CCO) for GTN in the Middle East, where he will lead efforts to grow market share, introduce new products, and diversify asset classes. Aloul brings with him 20 years of expertise in brokerage and wealth management across the GCC and Levant regions. Leading GTN’s Strategic Growth in the Middle East As the new CCO, Aloul will drive commercial initiatives that align with GTN’s regional expansion plans. His role will involve strengthening relationships with local partners, financial institutions, and brokers, while focusing on the launch of innovative financial products. His leadership is expected…
Previously known as AscendX Capital, the Forex prop firm has officially rebranded as QuantTekel and is transitioning into a full brokerage service. The firm, which has been operational since November 2023, recently announced the name change and its expanded service offerings via a social media post on X (formerly Twitter). QuantTekel Expands Its Brokerage and Prop Trading Services AscendX Capital, now QuantTekel, had been hinting at significant changes in recent months. In its recent announcement, the firm expressed excitement about the rebranding and confirmed that the migration process for existing clients is well underway. “We are thrilled to share that…
The Federal Reserve has signaled confidence that inflation is nearing its 2% goal, while adjusting interest rates ahead of the U.S. presidential election—a move that may impact global financial markets. For the first time in over four years, the U.S. Federal Reserve has reduced its key interest rate by 50 basis points, bringing it to a range of 4.75% to 5%. This larger-than-usual rate cut suggests that the central bank is increasingly focused on tackling inflation concerns. Typically, the Fed opts for quarter-point adjustments, making this change notable in signaling a potential shift in monetary policy. Shifting Toward Easing After…
TradersWithEdge, a well-known proprietary trading firm, has reintroduced the MetaTrader 5 (MT5) platform, enhancing its suite of trading tools. The firm announced the return of MT5 on its X (formerly Twitter) account, sharing the news with its trading community under the banner, “MetaTrader 5 is Back at TradersWithEdge.” MT5 Makes a Return to TradersWithEdge The MT5 platform is highly regarded for its advanced trading capabilities, including robust charting tools, automated trading features, and in-depth market analysis. Its user-friendly interface makes it accessible for both novice and seasoned traders alike. The return of MT5 is expected to enhance the trading experience…
The Cyprus Securities and Exchange Commission (CySEC) has extended the suspension of Petros Zachariades, the sole shareholder of Crowd Tech Ltd, which operated the forex and contracts for differences (CFDs) broker, Trade360. This extension affects his ownership and management roles within the company. Actions Taken Against Petros Zachariades According to CySEC’s latest announcement, Zachariades remains barred from exercising his voting rights linked to Crowd Tech shares and is prohibited from performing any management duties on the company’s Board of Directors. This suspension was first introduced in January 2023 due to concerns about Zachariades’ influence on the company’s operations, which the…
Traders can now access over 110 drawing tools, 100 technical indicators, and a variety of chart types as part of the platform’s new integration.Additionally, Tradu’s new crypto exchange offers over 40 coins, including popular options like Bitcoin and Ethereum. Tradu Joins Forces with TradingView Multi-asset trading platform Tradu has announced a strategic collaboration with TradingView, a well-known provider of real-time data, customizable charting, and technical analysis tools. Through this partnership, Tradu’s users will benefit from TradingView’s highly regarded charting library, which allows for advanced market analysis and the creation of personalized charting templates. Users can seamlessly execute trades using TradingView’s…