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.
Capital Index UK, an established London-based forex and CFD brokerage, has revealed a significant drop in its 2023 revenue, which the company attributes to the ongoing cost-of-living crisis affecting the UK. The firm reported that its trading revenue for the year stood at £1,035,073, marking a 29% decline from the previous year’s £1,463,501. Improved Trading Profit Margin Despite the drop in revenue, Capital Index UK’s trading profit margin saw a notable improvement, increasing to 93% in 2023 from 77% in 2022. The firm also reported cash and cash equivalents totaling £240,305 as of December 31, 2023, down from £315,471 at…
August 2024 witnessed a surge in institutional spot FX trading volumes, driven by a weakened dollar and heightened market volatility. Major trading platforms reported notable increases in activity, with several experiencing double-digit growth compared to the previous year. Dollar Weakness Fuels Market Activity The U.S. dollar’s decline to its lowest levels in over a year against key currencies such as the euro, pound, and yen, created a volatile environment in the forex market throughout August. This environment spurred a rise in institutional spot trading volumes across global trading venues, marking a consecutive month of growth. Rising Spot FX Volumes in…
The Singapore Exchange (SGX) experienced record-breaking foreign exchange (FX) futures trading volumes in August, spurred by heightened market volatility and increased hedging activities, according to the exchange’s latest report. FX Futures Trading Hits New Highs at SGX SGX saw a remarkable 33% year-over-year (YoY) surge in total FX futures volumes, reaching an all-time high of 5.6 million contracts. The exchange’s leading USD/CNH FX futures also witnessed a significant jump, with trading volume rising 25% compared to August of last year, totaling 3.4 million contracts. Both retail and institutional investors were highly active during this period. Retail investors netted purchases worth…
FTMO, the renowned prop trading firm, has announced a partnership with AlgoBuilderX, an algorithm-building tool designed for the cTrader platform. This collaboration aims to provide traders with enhanced options for automated trading and strategy development. AlgoBuilderX and FTMO Collaboration AlgoBuilderX, an advanced web-based tool that enables the creation and backtesting of algorithmic trading strategies, has become the first platform of its kind to partner with a major prop firm like FTMO. As part of this partnership, FTMO clients will enjoy a 25% discount on AlgoBuilderX’s services, helping them create and refine their trading algorithms. Empowering Traders with Automated Solutions AlgoBuilderX…
CFI Financial Markets LLC (CFI UAE) has bolstered its footprint in the UAE by launching a new office in Abu Dhabi, reinforcing its commitment to regional growth and offering enhanced access to its trading services. Abu Dhabi: A Strategic Hub for Financial Expansion As a rapidly evolving financial center, Abu Dhabi presents an ideal location for CFI’s latest expansion. The city’s role as a hub for innovation and economic development further strengthens its importance in the firm’s growth strategy. Benefits for Local Clients The new Abu Dhabi office will allow CFI to serve its clients more effectively by offering localized…
A new FX trading platform, FXProX, has officially launched, offering a suite of advanced features designed to streamline currency trading for institutional clients. Backed by BlueCrest Capital Management, the platform debuts at a time when currency market volatility is reaching significant highs. FXProX represents a major innovation in foreign exchange trading, incorporating both sophisticated automation and third-party applications to provide seamless integration within institutional trading workflows. The platform has been licensed by the Jersey Financial Services Commission (JFSC), allowing it to operate in global markets. Revolutionizing Institutional FX Trading FXProX, developed by BlueCrest Capital Management, is set to redefine the…
CME Group, the global derivatives marketplace, experienced a 31% increase in average daily volume (ADV) in August, reaching 31.7 million contracts. The surge in trading volume was driven by strong performances across all six of its asset classes. Record-Breaking Trading Activity in Interest Rate Contracts The biggest contributor to CME’s record performance was interest rate contracts, which set a new all-time high with an ADV of 18.3 million contracts. The U.S. Treasury sector also saw record-breaking activity, with a monthly ADV of 11.5 million contracts, including notable growth in 2-year, 5-year, and 30-year futures. Additionally, SOFR (Secured Overnight Financing Rate)…
The proprietary trading industry is currently divided over the concept of “gamification,” following concerns raised by Italy’s financial markets regulator, Consob, which likened some prop trading practices to “video games.” One industry executive rejected the comparison, stating, “I don’t think the ‘video game’ label fits,” while another found Consob’s caution “appropriate and timely.” Prop Trading and Gamification: A Controversial Topic David Varga, Co-Founder of Fintokei and Purple Trading, commented on the issue, saying, “I think gamification can be beneficial if applied with good intentions.” Varga sees value in the educational potential of gamification, using apps like Duolingo as an analogy.…
Earlier this year, Trading 212 introduced interest payments on uninvested funds, but a clause initially allowed the broker to withhold interest from inactive clients. The company has now removed this limitation, benefiting passive investors. Changes to Interest Payments for Passive Investors Retail brokers and CFD firms have increasingly started offering interest on idle client funds as a way to cater to savers and passive investors. London-based Trading 212 joined this trend in May by offering interest on uninvested cash, encouraging its clients to keep funds in their accounts. However, the original terms included a provision that gave the broker the…
The company’s logo will feature prominently on PSV’s lineup and interview jackets during European matches. Online trading firm iFOREX has announced a new partnership with Dutch football club PSV Eindhoven, becoming the official Trading Partner for PSV’s UEFA Champions League campaign. This collaboration marks a significant step in iFOREX’s efforts to expand its brand visibility in the sports arena, as confirmed by a statement from the club. Rekindling a Sports Partnership This latest deal revives a previous collaboration between iFOREX and PSV Eindhoven, which spanned from 2016 to 2018. The iFOREX logo will now be prominently displayed on PSV’s lineup…