Financial Commission Expels FX/CFDs Broker Bold Prime
The Financial Commission (FinCom), a self-regulatory organization in the financial services industry, announced the expulsion of forex and contracts for differences (CFDs) broker, Bold Prime, from its membership. The press release shared with Finance Magnates detailed that the broker’s expulsion as a FinCom member came following “numerous failures to comply with the Financial Commission’s Rules […]
UK FCA Warns against Clone of FX Broker Axi
The United Kingdom Financial Conduct Authority (FCA) has issued a warning against ‘AXI Corp Limited’, a clone firm of the registered forex and CFD broker Axi and its sister company, One Financial Markets. The financial markets regulator flagged the clone on Thursday in a warning published on its website. According to the FCA, while the […]
Has UFX Quietly Shut Down?
UFX, a retail broker offering forex and contracts for differences (CFDs) trading services, looks as though it has shuttered quietly. A message on its website reads: “UFX is no longer offering investment services to clients in this region.” Finance Magnates accessed the website from multiple regions, Europe, Asia, and Latin America; however, the termination message […]
NAGA Discusses Possible Merger with Unnamed ‘Multi-Country’ Broker
NAGA Group, a Germany-based fintech company that operates a regulated neo-broker, neo-banking app and a cryptocurrency platform, disclosed on Thursday that it is working towards signing “a potential strategic transaction with a multi-country brokerage firm.” The transaction could “potentially” emerge as a merger Merger A merger is defined as the absorption of the interest of […]
Germany’s Finanzen.net zero Joins TradingView’s ‘Broker Family’
Finanzen.net zero, a Germany-based zero-commission broker, is the latest brokerage firm to integrate with TradingView, making it possible for its users to trade directly from the charting and social networking platform. TradingView announced Finanzen.net zero as the latest member of its “broker family” on Thursday. “Introduced in 2021, Finanzen.net zero is a promising and constantly […]
Vantage Signs Supercar Blondie as Brand Ambassador
Vantage, a Sydney-headquartered multi-asset broker, has signed Alexandra Mary Hirschi, an Australian social media celebrity and automotive YouTuber popularly known as Supercar Blondie, as its Brand Ambassador. The brokerage firm announced the deal on Wednesday in a statement. “This partnership marks a milestone between an online brokerage with a social media publisher, aimed to use […]
OctaFX Wins ‘Best Online Broker Global 2022’ Award
The international broker OctaFX received yet another 2022 distinction. The esteemed global media publication World Business Outlook awarded the company its ‘Best Online Broker Global 2022’ award. In the industry, World Business Outlook has made a name of a resilient inquirer and unbiased gatherer of elite profiles, always accompanied by an unrestrained curiosity and motive […]
Interactive Brokers Ends Q4 2022 with Record Profits
Interactive Brokers Group (Nasdaq: IBKR) ended the quarter between October and December with earnings of $1.31 per share, making it the company’s best three months in terms of quarterly profits. The adjusted figure at $1.30 per share is much higher than the market expectation of $1.16 per share. The American online broker reported that net […]
BaFin Says Online Broker MainTrade Not Authorized
The Federal Financial Supervisory Authority (BaFin), Germany’s financial industry regulator, announced on Friday that online broker MainTrade.co is not authorized to operate in the country. The brokerage firm is also not under BaFin supervision, the regulator said. The new update comes a few days after the regulator urged consumers in the country to beware of […]
Swissquote Ends 2022 with CHF 185M Pre-Tax Profits
Swissquote has closed 2022 with a revenue of more than CHF 400 million and a pre-tax profit of at least CHF 185 million, the company confirmed in an announcement on Thursday. The figures are in line with the guidance provided by the Swiss firm last August. However, both financial parameters dropped significantly from the online […]