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.
The Cypriot Securities and Exchange Commission (CySEC) has introduced updated guidelines for digital customer onboarding, emphasizing technology neutrality, risk management, data protection (GDPR), and information security. These new rules aim to provide flexibility in remote customer onboarding, enhancing both operational efficiency and regulatory compliance while improving the overall customer experience. Overview Last week, CySEC released a “Policy Statement on Enhancing the Non-Face-to-Face Customer Onboarding Process through Electronic Methods,” signaling a shift towards a more balanced and modernized approach that aligns with EU standards and technological developments. The statement focuses on key aspects such as technology neutrality, risk management, GDPR, and…
In a significant development, global multi-asset broker VT Markets has announced a new collaboration with the renowned Newcastle United football club. The partnership was commemorated with the unveiling of a special jersey featuring the number ’77’, a number that holds particular importance for VT Markets, symbolizing prosperity and growth. Celebrating the Partnership The ceremony, which took place at Japan’s Saitama Stadium on July 31, highlighted the mutual respect between the two entities. As a gesture of appreciation, Newcastle United presented VT Markets with the symbolic ’77’ jersey, while VT Markets reciprocated with an appreciation trophy. Peter Silverstone, Newcastle United’s Chief…
Trading 212 has acquired FXFlat Bank GmbH, marking its entry into the German market through a fully licensed local entity. This strategic move is set to bring Trading 212’s zero-commission investing platform to German investors, further disrupting traditional brokerage services across Europe. Strategic Expansion into Germany The acquisition of FXFlat Bank GmbH by Trading 212 represents a significant step in the company’s European growth strategy. Known for its innovative zero-commission trading model, Trading 212 has gained a strong foothold in the UK and European markets. This latest acquisition allows the company to establish a direct presence in Germany, operating under…
Capital.com has unveiled a new initiative inviting ethical hackers and security researchers worldwide to identify and report software vulnerabilities on their platforms. This global call to action offers cash rewards based on the severity of discovered issues, reflecting Capital.com’s commitment to maintaining the highest standards of security. A Global Invitation for Enhanced Security In a move to bolster its platform’s defenses, Capital.com has launched a public bug bounty program, hosted on the crowdsourced security platform Intigriti. This initiative underscores the company’s dedication to safeguarding user data and ensuring the integrity of its trading environment. By inviting security experts from around…
YaMarkets has been officially recognized as the latest member of the Financial Commission, providing the company and its clients with access to a range of valuable services, including financial protection of up to €20,000 per complaint. This membership marks a significant step for YaMarkets in simplifying and accelerating the dispute resolution process, offering a more efficient alternative to complex regulatory procedures. Enhanced Client Services with Financial Commission Membership Effective from August 14th, 2024, YaMarkets’ inclusion as an approved broker member of the Financial Commission underscores the company’s commitment to enhancing client services. With this new membership, YaMarkets’ clients can now…
X Open Hub, a recognized leader in providing liquidity solutions, has announced its participation as an exhibitor at FMPS:24, one of the most prominent online trading, fintech, and crypto events in the Asia-Pacific (APAC) region. The event will take place at the International Convention Centre (ICC) in Sydney, Australia, from August 27-29, 2024. This inaugural event is expected to gather thousands of C-level executives, financial institutions, fintech companies, and key industry figures to explore the latest developments, challenges, and opportunities in the financial markets. As an exhibitor, X Open Hub aims to further solidify its reputation as a leading service…
The proprietary trading firm, Funds For Traders, has announced that it will be closing its doors, citing the withdrawal of support for the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms by Eightcap as the primary reason. The firm informed its users that the decision to cease operations was unavoidable due to the loss of these crucial trading platforms. MT4 and MT5 Platform Withdrawal In a statement shared on social media platform X, Funds For Traders expressed their regret: “As of today, we will be ceasing all operations at Funds For Traders. This decision follows the recent notification from Eightcap…
In June 2024, retail Forex deposits in the United States saw a robust increase, marking the highest levels recorded in over a year. Following two months of declines, deposits rebounded strongly, driven by continued volatility in the currency markets that has kept traders actively engaged. Forex Deposits in the US Hit $558 Million According to the latest data from the Commodity Futures Trading Commission (CFTC), the total value of Forex deposits in the US reached $557.5 million in June 2024, representing a 1.8% increase compared to May. This nominal growth of nearly $10 million is the highest figure seen in…
Public, a New York-based investing platform, has unveiled a new bond account, aimed at allowing investors to diversify their portfolios with corporate bonds offering yields of up to 7.3%. This launch comes as investors increasingly seek stable returns in anticipation of potential Federal Reserve rate cuts in late 2024 or early 2025. Expanding Opportunities in Bond Investing Public’s bond account provides a straightforward way for investors to access a curated selection of ten corporate bonds issued by prominent companies across various industries. These bonds offer yields ranging from 6% to 9%, enabling investors to diversify without the need to individually…
The strengthening U.S. dollar has posed significant challenges for fund managers, impacting returns and driving up operational costs for 83% of them, according to a new report. The MillTechFX North American Fund Manager CFO FX Report 2024 highlights how fund managers are adapting to these challenges by extending hedge tenors and increasing automation in response to ongoing foreign exchange (FX) market volatility and upcoming U.S. elections. Expansion of Hedging Practices The report, which surveyed 250 senior finance executives, reveals that 65% of fund managers are planning to extend the duration of their hedging strategies, providing longer-term protection against FX market…