Concerned traders have notified the Financial Commission regarding the company Eplanet Brokers and its associated website.
Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As such, the Commission does not recommend doing business with this entity, either individuals purporting to represent this broker on social media or in private messages on popular messaging apps. Given this information, Eplanet Brokers will be placed on the Financial Commission’s Warning List.
Lion Group has unveiled its new multi-currency trading account services enhanced by AI technology, as announced by the comprehensive trading platform.
This online brokerage offers a diverse range of products and services, including total return service (TRS) trading, contract-for-difference (CFD) trading, over-the-counter (OTC) stock options trading based in Hong Kong, along with futures and securities brokerage.
Lion also features a highly skilled SPAC sponsorship team, positioning itself as a pioneer in the SPAC market.
Enhanced Settlement with Offshore Renminbi for Increased Efficiency
The introduction of these multi-currency trading accounts will facilitate transactions in various currencies such as offshore Renminbi and US dollars.
The platform dynamically adjusts to various currency accounts in real-time, aiming to provide a sophisticated and smart investment and trading service for global users.
Key benefits of these multi-currency trading accounts include substantial cost reductions and enhanced operational efficiency for investors. In the derivatives market, particularly within the OTC stock options segment, foreign investments in China’s A-shares are vulnerable to exchange rate shifts, which can greatly influence overall returns. By implementing offshore Renminbi for settlements, these new trading services aim to mitigate such currency risks, thereby boosting the liquidity and adaptability of clients’ financial strategies.
Chunning (Wilson) Wang, CEO of Lion, stated: “The fusion of finance, technology, and digitization is propelling Lion forward in the fintech arena. Amidst the global surge in AI applications, we are keen to embrace the sector’s opportunities by integrating AI into our fundamental business offerings.
“The introduction of services like our multi-currency trading accounts will notably increase the distinctiveness and competitive edge of our products while generating additional profit avenues. Furthermore, through a diversified development approach, Lion aims to continuously cultivate a dynamic and innovative business ecosystem, enhance customer product and service experiences, and deliver substantial value to our shareholders.”
Clients of firms no longer covered by CySEC’s safeguarding program are still eligible for protection under the Investor Compensation Fund (ICF). This fund aims to secure the claims of eligible clients and provides compensation if a member fails to meet its financial commitments.
Cyprus’s leading regulatory body has clarified that “under paragraph 6(3) of the Directive, losing ICF membership does not equate to losing the right to compensation for investment activities conducted prior to the membership termination, provided the conditions outlined in the Directive are met. This also does not prevent the start of the compensation process for eligible clients.”
This development follows the CySEC’s decision to withdraw the Cyprus Investment Firm authorization from Leverate Financial Services, which had voluntarily surrendered its CIF license in December 2023.
What’s Next?
Following the revocation of a firm’s authorization, the regulator typically initiates the compensation payment process for companies unlikely to fulfill their financial obligations soon.
The subsequent steps involve the ICF calling on eligible clients to submit their claims against the implicated firms, outlining the application process for compensation, and setting a deadline for submissions. The fund will also publicize these details in at least two local newspapers and provide information on how investors can stay updated on the status of their applications.
The compensation each client receives is determined based on the contractual terms of their relationship with the failing broker. Generally, the maximum compensation amount is capped at €20,000.
Public has finalized an agreement to acquire the TradeApp investment accounts from Stocktwits. Following this acquisition, Stocktwits will focus on enhancing its core offerings, including community engagement and real-time discussions on earnings and cryptocurrencies.
This strategic move will see tens of thousands of Stocktwits’ brokerage customers transitioning to the Public investment platform, integrating into Public’s broader community.
This acquisition aligns with Public’s strategy to expand its services, despite closing its UK operations eight months post-launch. Public has introduced bonds, high-yield savings, and options trading to diversify its offerings.
Stephen Sikes, COO of Public, stated, “With the recent introduction of bonds, a high-yield cash account, and options trading, Public is positioned as a primary brokerage choice for numerous investors. We are eager to extend our comprehensive services to the Stocktwits user base, benefiting from the similarities between our platforms.”
Howard Lindzon, Co-Founder and CEO of Stocktwits, remarked:”We are focusing more intensely on our foundational social and community aspects and timely discussions, particularly concerning earnings reports. While Stocktwits users can continue to engage with our platform for essential information and updates, they will now also enjoy a full range of brokerage services through Public, including the newly available around-the-clock cryptocurrency trading.”
Transition Options for Stocktwits’ Brokerage Clients
All Stocktwits brokerage account holders will be able to join the Public platform while maintaining access to Stocktwits’ community features and social feeds. The company will remain operational.
Clients reluctant to move their accounts to Public can opt out during a designated 30-day period. Following this, all accounts will be transferred to Public as part of the acquisition closure. Account holders will then have full access to their funds and investments on the Public platform after agreeing to the terms and conditions.
Stocktwits members transitioning to Public will benefit from a diverse array of investment options, including stocks, ETFs, options trading with rebates, cryptocurrencies, bonds, and unique assets such as art and music royalties.
With over 8 million active users, Stocktwits has established itself as a prominent platform in the investment community. Committed to enhancing investor returns, Stocktwits provides valuable community interactions, data, and resources to help users connect, learn, profit, and enjoy the investment process.
The Financial Commission has been notified by concerned traders regarding the clone website of TitanFX (the website IS NOT affiliated with TitanFX)
Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated website may be used to scam and defraud traders and investors. As such, the Commission does not recommend doing business with this entity, either individuals purporting to represent this clone broker on social media and in private messages on popular messaging apps. Given this information, clone website of TitanFX will be placed on the Financial Commission’s Warning List.
Malaysian traders are set to be the first beneficiaries of the enhanced OctaTrader, a global financial platform that has been redesigned to offer an integrated, all-in-one trading solution. This newly revamped platform simplifies the trading process by combining all aspects of the client journey into a single, cross-device application, delivering a seamless trading experience across multiple platforms.
OctaTrader is continuously evolving and is built upon the principle of ‘trading made clear,’ which has been a core philosophy since Octa’s foundation in 2011. The platform now includes a range of new features and ongoing additions that are planned to enhance cross-platform compatibility and support more informed decision-making.
Drawing on Octa’s proven track record in the financial brokerage sector, the updated OctaTrader offers a streamlined market experience suitable for traders of all experience levels. It provides facilities for trading, education, and access to analytical tools through a flexible and intuitive interface. The enhanced Octa ecosystem stands out in the global brokerage market with its competitive spreads, a wide selection of tradable assets, and international recognition.
A key feature of the new platform is ‘Space,’ a robust analytical center that doubles as an educational and social networking site. It supports traders from the educational phase through to in-depth market analysis. Space is designed to continually expand and improve, ensuring it meets the evolving needs of clients. Currently available in English, with more languages on the way, Space helps traders to connect, share insights, and stay informed about critical market trends.
Space also allows users to personalize their analytics feed to align with their trading preferences, providing vital insights and guidance. This feature is crucial for navigating volatile markets and maintaining a competitive edge.
To promote the revamped OctaTrader, Octa has launched “The Lucky Ones,” a global marketing campaign that explores traders’ perceptions of luck and their strategies to maintain it during trading sessions. This campaign includes a global survey aimed at investigating the psychological aspects of trading, which will help Octa enhance its client-centered approach to financial services. The results of this survey are expected to provide valuable insights into the decision-making processes of clients, aiming to optimize their journey in the financial markets.
Concerned traders have notified the Financial Commission regarding the company Related Invest and its associated website.
Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As such, the Commission does not recommend doing business with this entity, either individuals purporting to represent this broker on social media or in private messages on popular messaging apps. Given this information, Related Invest will be placed on the Financial Commission’s Warning List.
Vantage Markets, a leading multi-asset broker, has expanded its educational offerings by launching a new podcast on Spotify, aligning with its brand strategy to provide added value to its audience. This initiative is part of the broader Vantage Academy effort to support traders at all levels—from novice to expert.
The Vantage Markets Podcast, hosted by Jamie Dutta, Global Market Analyst at Vantage, will deliver monthly episodes lasting 10-15 minutes each. These episodes will cover a wide array of topics relevant to today’s financial markets, including the circular economy, AI’s influence on the future, the Santa rally, and safe-haven assets. The podcast aims to equip traders with valuable knowledge and actionable insights to enhance their trading endeavors.
Geraldine Goh, Chief Marketing Officer at Vantage Markets, emphasized the importance of accessible resources for traders. “As traders navigate the dynamic financial markets, timely and insightful resources are crucial. The Vantage Markets Podcast is designed to make complex topics accessible, providing traders with clear and concise explanations to navigate the intricacies of trading,” she said.
In addition to the podcast, Vantage Academy offers a rich repository of resources such as educational articles, market updates, analysis, terminologies, webinars, e-books, and beginner trading courses, all designed to enhance the trading journey for its clients.
Earlier this year, Vantage Markets launched Vantage Academy, a comprehensive educational hub aimed at transforming traders from beginners to experts. The platform offers a range of free resources, including articles, livestreams, e-books, and courses.
Following a strategic overhaul that included the unveiling of a redesigned website, Vantage has continued to enhance user experience and functionality. Moreover, the broker has recently expanded its partnership with TradingView. This enhancement includes a new broker integration that significantly improves trading options for clients, allowing them to utilize TradingView’s advanced charting tools directly from their accounts. This partnership also introduces a dedicated broker profile page on TradingView’s website, where Vantage provides additional educational articles and market analyses to further engage with its clients.
The broker integration with TradingView aims to streamline the trading experience across a variety of instruments such as forex, gold, oil, indices, shares, ETFs, and bonds, facilitating a more efficient trading process.
Vantage Markets has been recognized as the “Most Innovative Broker” by FX Broker Tester (FXBT), marking a significant milestone in its commitment to enhancing the trading experience in the financial industry.
FXBT, a platform that evaluates forex brokers based on their fees, technology, customer support, and safety, awarded Vantage for its exceptional innovation in trading tools and resources. This accolade highlights Vantage’s efforts in integrating advanced technologies, such as their partnership with TradingView, which provides traders with seamless access to advanced charting tools and efficient trading.
Recent upgrades to Vantage’s website and mobile app have also played a crucial role in securing this award. These enhancements include improved trade execution, transparent pricing comparisons, and comprehensive educational content, all designed to improve user experience and accessibility for traders on the go.
Marc Despallieres, Chief Strategy & Trading Officer at Vantage, commented on the award: “This recognition from FX Broker Tester affirms our commitment to pushing the boundaries of what a forex broker can offer. We are dedicated to providing our traders with the most innovative tools and resources, ensuring they have the best possible trading experience. As we continue to grow and evolve, our focus remains on leading with innovation and supporting our traders throughout their financial trading journey.”
This prestigious award from FXBT is a testament to Vantage Markets’ ongoing efforts to redefine what it means to empower traders in the rapidly evolving financial markets.
In the first quarter of 2024, Plus500 continued to enhance its product offerings and technological capabilities, which contributed to a modest increase in revenue. The company’s financial performance also saw a slight uptick, with Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) reaching $102.6 million, marking a 2% increase from the previous year’s same quarter and a 19% rise from the last quarter of 2023. However, the EBITDA margin experienced a slight decline, moving from 49% in Q1 2023 to 48% in Q1 2024, though it showed an improvement from 45% in Q4 2023.
Customer and Market Dynamics
During this period, Plus500 reported a 13% increase in new customer registrations, totaling 31,949, up from 28,201 in Q1 2023. Despite this growth in new customers, the number of active customers slightly decreased by 2%, totaling 134,745. On a positive note, the average revenue per user (ARPU) increased by 5% to $1,600, while the average user acquisition cost (AUAC) decreased by 4% to $1,320.
Strategic Developments and Regulatory Milestones
January 2024 marked a significant milestone for Plus500 as it secured a clearing membership with Eurex Clearing AG, enhancing its capacity to handle derivatives traded on the Eurex Exchange. This development is part of Plus500’s strategic efforts to grow its presence in key markets, including the United States and the United Arab Emirates, where the company has seen an increase in both revenue and profit.
Plus500’s strategic milestones throughout the year included expanding its U.S. futures business, launching a localized retail trading platform in Japan, and enhancing its market position in the UAE following the earlier acquisition of a regulatory license. The company also integrated its U.S. acquisitions and launched ‘Plus500 Futures’ in the U.S. market. New platforms tailored for local retail traders in Japan and regulatory approvals from the Dubai Financial Services Authority (DFSA) contributed to its expanded market footprint. Additionally, a new regulatory license was obtained from the Securities Commission of the Bahamas in July 2023, further bolstering Plus500’s regulatory framework.
Financial Stability and Shareholder Value
With a strong cash balance of over $985 million as of March 31, 2024, Plus500 remains well-equipped to continue its growth and development. The company also demonstrated its commitment to shareholder value by returning $33.3 million through share buybacks during the quarter.
These combined efforts reflect Plus500’s robust strategic planning and execution, which not only enhance its market position but also ensure continued growth and stability in the competitive financial trading industry.
RoboMarkets, a well-established European brokerage firm, is proud to announce the extension of its partnership with BMW M Motorsport for the upcoming 2024-2025 DTM seasons. The renewal reinforces the longstanding collaboration, promising to bring a fresh and engaging experience to the motorsport arena.
As the DTM (Deutsche Tourenwagen Masters) series prepares to launch its new season, RoboMarkets confirms its commitment as a Premium Partner of BMW M Motorsport. The collaborative effort highlights both entities’ dedication to continual improvement and a shared ethos of competitive performance. The partnership ensures that the race-ready BMW M4 GT3, a vehicle synonymous with cutting-edge automotive technology and sleek design, will be showcased in the headline races of the series, proudly bearing the RoboMarkets livery. The current agreement is focused on the main events of the DTM calendar, with the DTM Trophy and DTM Classic Cup races not included in this sponsorship term.
Veteran driver René Rast, at the helm of the #33 RoboMarkets BMW M4 GT3, shared his perspective on the instrumental support from BMW M Motorsport partners in the DTM series. Having joined forces with RoboMarkets in his previous season, Rast acknowledges the past year’s achievements as pivotal in laying the groundwork for the forthcoming season, with aspirations to build on these successes in the RoboMarkets BMW M4 GT3.
The alliance between RoboMarkets and BMW M Motorsport, which began in 2019, evolved into a fruitful Premium Partner engagement during the 2022-2023 seasons. Now looking ahead, the partnership continues to flourish, extending into the 2024-2025 seasons. The comprehensive sponsorship package includes extensive branding on the BMW M4 GT3, including prominent logo placement on the car’s bonnet, doors, roof, and boot lips. It also encompasses the branding of the media stands, the official team garage walls, and provides various marketing privileges.
The 2024 DTM racing calendar is set to deliver action-packed events spanning several months and countries. The schedule is as follows:
About RoboMarkets: RoboMarkets is a premier European financial brokerage, regulated under CySEC licence No. 191/13, offering retail and professional clients a pathway to diverse financial markets with advantageous trading conditions. Comprehensive information about the company’s products and services is available here.
Risk Warning: CFD trading involves a significant risk of loss due to the complex nature of the instruments and leverage. A substantial majority of retail investor accounts incur losses when engaging in CFD trading with this provider. Potential traders should ensure they comprehend the workings of CFDs and assess their capacity to bear the high risk of monetary loss.
Axi has renewed its sponsorship with Brazilian soccer club Esporte Clube Bahia, reinforcing its strategy to broaden its footprint in Brazil and engage with the country’s burgeoning consumer base. Recognizing Brazil as the fifth-largest nation globally by population and a country with a deep passion for soccer, Axi sees this partnership as a strategic move to connect with a large audience through the popular sport.
Esporte Clube Bahia, renowned for its significant domestic achievements and a substantial, devoted fan following, presents an ideal partnership for Axi. The team’s matches draw millions of viewers nationwide, offering Axi a prime opportunity to increase its visibility among potential clients.
Hannah Hill, Axi’s head of brand and sponsorship, noted: “When we embarked on this new collaboration in 2023, we had no idea of how receptive the Bahia fans would be. As we move forward into a new season, our commitment to bringing the worlds of trading and football closer together remains unchanged. Helping our traders and clients unlock their trading edge is fundamental to us, and through our collaboration with Bahia, we hope to continue growing awareness in the LATAM region, whilst keep on offering unforgettable football moments to our traders and partners.”
This announcement follows closely on the heels of Axi’s new sponsorship agreement with Girona FC, marking Axi’s debut as a regional partner in Latin America. In this role, Axi will collaborate with Girona FC on various promotional activities and fan engagement projects across the region. The partnership includes unique events, exclusive promotions, and tailored experiences for Girona FC supporters in Latin America.
Additionally, Axi has also renewed its prominent sponsorship deal with Manchester City, expanding its association with the Premier League champions to include the Manchester City women’s team. Initially partnering with the club in 2020 as the ‘Official Online Trading Partner’ under its former brand name AxiTrader, this renewal signifies Axi’s ongoing commitment to leveraging sports partnerships to enhance its brand visibility and engagement on a global scale.
Concerned traders have notified the Financial Commission regarding the company LKY Trade LTD and its associated website.
Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As such, the Commission does not recommend doing business with this entity, either individuals purporting to represent this broker on social media or in private messages on popular messaging apps. Given this information, LKY Trade LTD will be placed on the Financial Commission’s Warning List.
An Australian court has mandated the liquidation of Prospero Markets, acting on a petition from the Australian Securities and Investments Commission (ASIC). ASIC’s request was based on various concerns regarding Prospero’s management practices and adherence to financial service commitments.
The move to liquidate Prospero stemmed from its failure to comply with the conditions and obligations of its Australian financial services (AFS) license, as well as its duties under the Corporations Act. Key issues highlighted by ASIC included Prospero’s lack of an auditor, failure to file financial accounts, and not submitting essential derivatives transaction reports to ASIC.
ASIC’s statement highlighted: “The application for these orders was made due to a wide range of concerns about Prospero’s business management, particularly its compliance with Australian financial services (AFS) license conditions and responsibilities as an OTC derivatives issuer under the Corporations Act (24-034MR).”
The appointed liquidators, Andrew Cummins, Jonathon Keenan, and Peter Krejci from BRI Ferrier, have the responsibility of disbursing client funds, a critical concern for ASIC considering the significant amounts at stake. This decision follows an ASIC investigation triggered by an Australian Federal Police operation, which resulted in money-laundering charges against former Prospero officers.
The objective of the liquidation is to address Prospero clients’ queries regarding the restitution of their funds and ensure adherence to regulatory standards.
Prospero, which holds an AFS License, was previously authorized to issue, market, and deal in derivatives and FX contracts on behalf of clients, in addition to offering related financial product advice. Following its failure to submit its 2023 audited financial accounts, its license was suspended in December 2023, with the suspension set to last until 26 September 2024.
Concerned traders have notified the Financial Commission regarding the company LLoyds Markets and its associated website.
Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As such, the Commission does not recommend doing business with this entity, either individuals purporting to represent this broker on social media or in private messages on popular messaging apps. Given this information, LLoyds Markets will be placed on the Financial Commission’s Warning List.
The Financial