This week’s highlights include changes in the forex and crypto industries, significant legal updates, and notable product launches.
MetaQuotes Clamps Down on TradingView Integration
MetaQuotes, the developer behind the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, is tightening its grip on how brokers use its software. The company has introduced terms in its platform agreements that restrict integration with third-party trading platforms, including TradingView. While TradingView isn’t mentioned by name, the new clauses cover all external trading environments, limiting brokers’ flexibility.
XTB Introduces Zero-Fee ISAs in the UK
XTB has rolled out its long-awaited stocks and shares Individual Savings Accounts (ISAs) for UK investors. The offering includes commission-free trading and an attractive 4.75% interest on uninvested cash. This move combines tax-efficient investing with competitive rates, providing a versatile option for retail investors.
CMC Invest Partners with TipRanks for Enhanced Stock Research
CMC Invest, the Australian share trading arm of CMC Markets, has teamed up with TipRanks, an Israel-based market research provider. Through this partnership, CMC users gain access to advanced stock analysis tools, enabling data-driven investment decisions. CMC’s Head of Distribution, Kurt Mayell, emphasized that the collaboration reflects their commitment to offering institutional-quality resources to retail investors.
FxPro Enhances Client Communication with Convrs Integration
FxPro has partnered with Convrs, a messaging platform specializing in financial services. This integration allows FxPro to engage clients via popular apps like WhatsApp, Messenger, and Telegram, while also offering real-time support. The collaboration is part of FxPro’s efforts to streamline customer service and enhance client experience.
Admirals Sells Its Australian Subsidiary
Admirals, a well-known CFD broker, has sold its Australian unit to focus on optimizing its geographic operations. The Australian subsidiary, licensed by the Australian Securities and Investment Commission (ASIC), has been operational since 2011. The buyer’s identity remains undisclosed, but the move signals Admirals’ shift in strategic priorities.
Italy Blocks Unauthorized Financial Ads
Italy’s financial regulator, CONSOB, has taken down two websites promoting unauthorized financial services. This action is part of a broader crackdown on fraudulent financial advertisements, which often exploit images of prominent public figures. CONSOB’s efforts are bolstered by a recent partnership with Google to eliminate such ads from its jurisdiction.
Funded Nation Suspends Operations
Prop trading firm Funded Nation has temporarily ceased operations, citing plans to upgrade its dashboard. However, some customers are skeptical, viewing this as a potential smokescreen. The suspension is set to last 45 days, leaving traders in limbo.
Ripple’s Stablecoin Gains Approval in New York
Ripple’s USD-pegged stablecoin, RLUSD, has received approval from the New York State Department of Financial Services. Ripple’s CEO, Brad Garlinghouse, confirmed that listings with major exchanges will follow soon, marking a significant milestone for the blockchain firm.
Coincheck Lists on Nasdaq
Japanese crypto exchange Coincheck has debuted on Nasdaq under the ticker symbol “CNCK.” The listing comes after a $1.3 billion merger with Thunder Bridge Capital, marking a rare entry for a crypto firm into the US stock market.
Russia Explores Bitcoin Reserves
A Russian lawmaker has proposed the creation of a Bitcoin reserve as a strategic hedge against economic sanctions and currency instability. The idea aims to strengthen the country’s financial resilience amidst ongoing geopolitical tensions.
Coinbase Warns of USDT Delisting
Coinbase has announced plans to delist Tether’s USDT and other stablecoins that fail to meet compliance with new EU regulations under the Markets in Crypto-Assets (MiCA) framework. The move highlights the growing regulatory pressures in the crypto space.
Bitget Expands to Lithuania
Crypto exchange Bitget is setting up a regional hub in Lithuania as it prepares for the full implementation of MiCA regulations. The company aims to enhance compliance efforts while continuing its global expansion.
Kraken Australia Faces $8M Fine
Kraken’s Australian branch has been fined AU$8 million for violating ASIC regulations by offering unauthorized margin products. The penalty underscores the regulatory challenges crypto exchanges face in adhering to local laws.
Revolut’s Bold Expansion Plans
FinTech giant Revolut is planning a comprehensive expansion into physical and digital banking services. The company aims to introduce AI-driven tools, mortgages, business credit, and even physical ATMs, signaling its ambition to dominate both traditional and digital financial landscapes.
