FX Weekly Round Up, covering the most impactful events in the foreign exchange industry from 13-Jan-25 to 17-Jan-25. 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.
Plus500 Reports Strong FY 2024 Revenue and Strategic Achievements
Plus500 Ltd reported strong FY 2024 financial results with $768m revenue and $342m EBITDA. The Group remains debt-free, with cash reserves of approximately $900 million as of 31 December 2024. Key Highlights include a 45% growth in new customer acquisition in Q4 2024 with over 36,000 new customers.
ActivTrades Appoints Hassan Abbas Datoo as New Head of Compliance
ActivTrades has appointed Hassan Abbas Datoo as its new Head of Compliance, marking a strategic move to develop its regulatory framework. Datoo brings extensive experience in regulatory compliance, having recently served as a Senior Regulatory Compliance Analyst at eToro.
Jason Wang Kee Huat Joins Digital Vega as Head of Asia Pacific
Digital Vega has appointed Jason Wang Kee Huat as its new Head of Asia Pacific, further strengthening its leadership team. Jason Wang Kee Huat joins from Spark Systems, where he served as Chief Operations Officer for eight years. His career also includes senior roles at Flextrade, Knight Capital, StanChart, Saxo Bank, and Barclays.
Capital.com Appoints Siddharth Sahoo as Head of MENA Operations
Capital.com has appointed Siddharth Sahoo as the new Head of Operations for its MENA division and the lead for AI-driven initiatives. With an impressive background at J.P. Morgan, Deutsche Bank, and Boston Consulting Group, Siddharth Sahoo expertise is expected to drive Capital.com’s expansion and technological innovation.
Trading 212 Introduces Commission-Free Trading in Germany via FXFlat
Trading 212 has expanded its services to Germany, extending commission-free trading with its BaFin-licensed broker FXFlat Bank GmbH. Acquired by Trading 212 in 2024, FXFlat Bank now provides German investors access to global markets, including major exchanges like Xetra, NASDAQ, and NYSE, without incurring order execution or settlement fees.
Roula Pelehrinis Joins Advanced Markets as VP Institutional Sales
Advanced Markets, a leading provider of liquidity and broker technology solutions, has appointed Roula Pelehrinis as VP Institutional Sales EMEA. Roula Pelehrinis joins from TopFX, where she served since 2023 during a period of significant organizational changes.
MoonPay Acquires Helio Pay for $170 Million to Enhance Crypto Payment Solutions
MoonPay has announced the acquisition of blockchain e-commerce platform Helio Pay for $170 million. Helio Pay processes payments in Bitcoin, Ether, stablecoins like USD Coin and more for more than 6,000 e-commerce merchants and creators. Helio has facilitated $1.5 billion in payments for e-commerce, digital goods, and subscriptions — in partnership with well-known integrations including Solana Pay on Shopify.
Deus X Markets Launches BaaS Solution to Revolutionize Brokerage Tech
Deus X Capital launches the new “brokerage as a service” (BaaS) provider Deus X Markets to simplify the barrier of entry into trading. This ground-breaking platform removes traditional barriers to entry and allows new and existing brokerages to launch and operate without a hefty investment in infrastructure.
IG Group Acquires Neobroker Freetrade for £160 Million to Expand Reach
IG Group Holdings plc has announced its acquisition of Freetrade, a prominent UK neobroker, for £160 million (USD $195 million). Although Freetrade launched in 2018, the platform has gained over 720,000 customers and £2.5 billion in Assets Under Administration (AUA) at the end of 2024.