FX Weekly Round Up, covering the most impactful events in the foreign exchange industry from 30 Dec 2024 to 03 Jan 2025. This week, we bring you the top news stories that have shaped the forex markets.
Below are the best news to keep you informed and ahead in the dynamic world of forex trading.
XTB Expands to Indonesia and UAE with New Regulatory Approvals
XTB is ready to take huge steps into global expansion with regulatory approvals secured in Indonesia and the UAE. The approvals represent a major milestone for a company that wants to broaden its reach beyond its European roots. XTB Indonesia Berjangka, a subsidiary of XTB in Indonesia has received a PALN license by Bappebti to launch stocks and ETF investment services locally.
YCM-Invest Reports Strong Financial Recovery with 147% Growth
YCM-Invest has reported impressive financial results for the first nine months of 2024, achieving £808,513 in revenue and £319,478 in profit. This marks a significant turnaround from 2023, when the company recorded a loss of £542,481. The 147% revenue growth was driven by aggressive cost-cutting measures, with sales costs reduced to £292,078 from £414,345 and administrative expenses cut to £196,805 from £453,721.
Mohammed Omayer Appointed as New Head of Compliance at Kama Capital
Kama Capital announced the appointment of Mohammed Omayer as its new Head of Compliance. Mohammed Omayer was also the firm’s Compliance Officer for a year. He has over 10 years of experience in global financial institutions related to compliance, regulatory oversight as well as project and program management and has expertise in anti-money laundering (AML) and financial regulations.
CXM Announced as Platinum Sponsor for iFX EXPO Dubai 2025
CXM, a leading top-rated broker, has been announced as the official Platinum Partner of the iFX EXPO Dubai 2025. CXM, founded in 2015, has utilized decades of expertise across diverse regions, including Asia Pacific, the US, and Europe. The company provides the traders with award-winning services, competitive pricing, an extensive range of liquidity solutions, and world-class execution standards.
APM Capital Appoints Nick Spencer-Skeen as Executive Director at BUX UK
APM Capital has appointed Nick Spencer-Skeen as Executive Director of its London-based APM Capital Markets Limited unit. Nick Spencer-Skeen, who served as Senior Executive Officer at APM Capital in Dubai since 2022, brings extensive leadership experience. Prior to joining APM Capital, he spent over a decade as Chief of Staff in Europe for the US-based institutional broker StoneX.
XTB Chairman Jan Byrski Resigns from Supervisory Board
XTB SA has announced the resignation of its Chairman of the Supervisory Board, Jan Byrski, who will step down from the post on January 15. The firm cited “personal reasons” for Byrski’s departure in a short statement, but did not elaborate. Jan Byrski is a leading expert on economic law and academics who joined XTB’s board in 2021 and became the Chairman in the same year.
