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.
CFI Financial Group has announced the extension of trading hours, now offering pre-market trading from 8:00 AM to 9:30 AM ET and post-market trading from 4:00 PM to 4:59 PM ET. This new feature allows traders to react promptly to market-moving news and earnings reports outside regular trading hours. Advantages of Extended Trading Hours The extended hours provide several benefits, including the ability to trade US-listed shares before and after the standard market session. This gives traders the opportunity to capitalize on unique market conditions and news events that occur outside the usual trading times. The new trading schedule on…
Piper Sandler, a prominent investment banking firm, has agreed to pay $16 million in civil penalties to settle investigations by U.S. regulators concerning its record-keeping practices. This settlement, announced on Tuesday, is part of a broader regulatory crackdown on Wall Street’s communication compliance. Details of the Settlement The Minneapolis-based firm will pay $14 million to the Securities and Exchange Commission (SEC) and $2 million to the Commodity Futures Trading Commission (CFTC). These fines are the result of probes into unapproved business communications conducted via messaging platforms. “The Company has reached agreements in principle with the staff of the SEC and…
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…
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…
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…
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…
The financial landscape in 2024 has been anything but predictable, with a series of global events leading to significant market shifts. From ongoing conflicts and economic uncertainties to pivotal elections in both Europe and the United States, the year has been marked by volatility and change. In response to these developments, the upcoming Finance Magnates Pacific Summit (FMPS) will explore these key trends and unveil potential challenges that may arise in the latter half of the year. Key Event Details Scheduled for August 27-29 in Sydney, Australia, FMPS will convene a diverse array of participants from the B2B and B2C…
The Financial Conduct Authority (FCA) has levied a fine of £276,100 on Forex TB Limited (FXTB), a Cyprus-based contract for differences (CFD) firm, after uncovering multiple breaches of conduct. The FCA’s investigation revealed that FXTB engaged in unauthorized investment advice and unfair treatment of its clients, leading to serious regulatory repercussions. Encouragement of Risky Borrowing and Misleading Practices The FCA’s findings indicated that FXTB exerted pressure on customers to engage in CFD trading, often encouraging them to borrow money from friends and family to invest. Additionally, the firm was found to have offered investment advice without the required authorization, violating…
Trading Technologies (TT) has announced the successful acquisition of the START platform from Abel Noser Holdings, marking a significant step in enhancing its service offerings. The acquisition of this broker-neutral trade optimization platform underscores TT’s commitment to providing clients with advanced tools for trade execution and transaction cost analysis. A Strategic Acquisition Process The acquisition journey began on August 31, 2023, when TT secured Abel Noser Solutions, a leading provider of transaction cost analysis services catering to investment managers, brokers, asset owners, and consultants. The recent completion of the START platform acquisition represents the second and critical phase in TT’s…
After a decade of success with a leading CFD broker, Desimir Paskalev has embarked on a new journey in the prop trading industry with his venture, FundedBull. Having spent over 10 years at a prominent CFD company, Desimir Paskalev, a well-known figure in the trading world, has taken the leap to start his own prop trading firm. Speaking candidly about his decision, Paskalev highlighted that entering the prop trading sector is more accessible and cost-effective compared to launching a traditional brokerage. Paskalev’s New Venture: From XM to FundedBull As a former Partner Relations Manager at XM, where he built his…