Author: Chief Editor

MetaTrader 5, one of the most popular trading platforms globally, has expanded its risk management capabilities through the addition of native floating leverage functionality. Previously, brokers offering variable margin settings on MT5 relied on third-party solutions with potential compatibility issues. The new in-house developed feature, integrated directly into build 4150, allows administrators to quickly and easily configure flexible leverage rules according to individual trader profiles, market conditions or company-wide risk policies. Rather than utilizing static margin amounts, floating leverage adjusts requirements dynamically based on pre-defined risk parameters. This industry-first ability to automate real-time margin alterations offers substantial benefits to both…

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Leading forex and CFD broker Afterprime has announced a game-changing collaboration with PrimeXM and TRAction, aiming to revolutionize trade reporting efficiency and accuracy for its clients. This exciting partnership brings together the expertise of TRAction, a renowned provider of regulatory reporting solutions, and PrimeXM, a leader in advanced trading technology. The new integration seamlessly extracts data directly from PrimeXM’s platform, enabling Afterprime to generate precise and timely trade reports. This eliminates the need for manual data entry and reduces the operational burden associated with compliance, freeing up valuable resources for Afterprime to focus on its core strengths – offering best-in-class…

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Online financial services provider XS.com has moved to strengthen its presence in Africa with the strategic acquisition of South African brokerage firm Ubutyebi Financial Services. In a statement, XS.com announced it had established a new entity called “XS ZA” in South Africa after acquiring Ubutyebi, which holds a license from the country’s Financial Sector Conduct Authority (FSCA). XS ZA will be authorized to offer retail and institutional clients a diverse range of assets like forex, commodities and cryptocurrencies within South Africa and other African markets. Wael Hammad, Group Chief Commercial Officer at XS.com, said the deal sets the company on…

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Online trading platform Plus500 saw revenue decline by 13% in 2023 as global financial markets experienced heightened volatility during the year. In a trading update, the CFD and forex broker reported total revenue of $726.2 million for the full year, down from $832.6 million in 2022. Earnings before interest, taxes, depreciation and amortization decreased to $340.5 million versus $453.8 million the previous year, reflecting lower trading activity levels across Plus500’s client base as geopolitical and economic uncertainty caused fluctuations in major asset classes. Net profit for 2023 came in at $271.4 million compared to $370.4 million in the prior year.…

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Retail foreign exchange and CFD broker OnEquity has expanded into the South African market with the establishment of a locally regulated subsidiary. According to sources familiar with the company’s plans, OnEquity has obtained a financial services provider (FSP) license from the Financial Sector Conduct Authority (FSCA) for its South African business OnEquity (Pty) Ltd. This marks an important step for the Cyprus-headquartered OnEquity, which was launched earlier this year and has so far focused on providing offshore trading services via its parent company OnEquity Ltd, incorporated in the Seychelles. The addition of an FSCA license will allow OnEquity to comply…

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In a win for accountability in the forex industry, Erik J. Hass and his company Simply Gains have been ordered to pay restitution and penalties for defrauding investors. According to a consent order by the U.S. District Court of Oregon, the defendants solicited over $2.1 million from 21 individuals on false pretenses between 2016-2018. Simply Gains promised investors could not lose more than 20% of deposited funds through forex trading. However, court documents reveal Hass lost over $1 million from forex trading alone. An additional $415,000 was misappropriated for personal expenses such as Hass’ mortgage, credit card debt and a…

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FNG has exclusively learned that the ownership of the retail FX and CFDs brokerage HYCM is being transferred to its senior managers via a management buyout. Roger Bach and Stavros Lambouris, both long-serving HYCM executives, are acquiring controlling stakes in the business from its Hong Kong-based parent company, Henyep Group. Mr. Bach has helmed HYCM’s UK entity since 2005 as Director and CEO. Mr. Lambouris joined HYCM in 2007 and has led EU & international operations from Cyprus as CEO since 2014. They will jointly steer the multi-regulated brokerage going forward upon gaining regulatory approval for the change in ownership.…

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Leading wealth management provider PU Prime is pleased to announce the reappointment of Haidy Sokar to its senior leadership team as Account Manager. Sokar first joined PU Prime in 2021 and quickly distinguished herself with her dedication, expertise and focus on exceeding client needs before pursuing other opportunities. Now she has re-committed to PU Prime, signaling her belief that the firm remains the ideal professional home. In a statement, Sokar expressed her enthusiasm to be “embarking on a new chapter here, taking on fresh challenges with colleagues who feel like family.” Her prior experience across different roles, from administration to client…

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In a move that promises to further streamline financial transactions for traders around the world, MT5 developer MetaQuotes Ltd. has forged a groundbreaking collaboration with digital payments processor AstroPay. Under the terms of the partnership, AstroPay’s deposit and withdrawal services will be directly accessible to brokers and traders within the ubiquitous MetaTrader 5 (MT5) trading platform. By integrating AstroPay’s offerings, MT5 aims to simplify what has historically been a cumbersome multi-step deposit process for many. Traders will now be able to directly add funds to their brokerage accounts or liquidate positions straight from within the intuitive MT5 interface, avoiding unnecessary…

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Kuwait-based broker NCM Investment has been awarded a Category 1 license from the Securities and Commodities Authority of the UAE, allowing it to expand operations and better serve clients across the Middle East region. While already operating in multiple countries, this approval represents a critical juncture in the firm’s strategy to consolidate its leadership position through regulated growth. The SCA license, which underwent a rigorous vetting process, affirms NCM’s strong track record of over a decade in providing secure trading opportunities with transparency and fairness. It enables the launch of a fully-fledged office from the firm’s new Dubai headquarters. It…

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