Futu Holdings, the parent company of Moomoo, has released its unaudited Q4 2024 earnings report, revealing a remarkable 86.8% year-over-year revenue growth, totaling $570.6 million. The company’s non-GAAP adjusted net income surged 105.4% YoY, reaching $251.3 million.
For the full year 2024, Futu Holdings recorded $1.75 billion in revenue, a 35.8% increase YoY, while non-GAAP net income grew 26.2% YoY to $742.6 million.
Futu’s global user base exceeded 25 million by the end of Q4, with paying clients increasing by 41% YoY to 2.41 million. Client assets grew 53% to $95.7 billion, surpassing the company’s expectations.
Moomoo has expanded its product offerings, improving the user experience and integrating new tools for retail traders:
Moomoo partnered with TradingView, the leading charting platform and social network for traders, to provide direct trade execution for clients in Singapore and Malaysia.
Moomoo also partnered with Seeking Alpha to bring premium research tools to users in the US, Canada, Singapore, Japan, and Hong Kong.
New Seeking Alpha users who open a Moomoo brokerage account can access exclusive incentives, including free stocks and cash rewards, tailored to different markets.
The Global Paper Trading Challenge, launched in Q4 2024, attracted over 150,000 participants, reinforcing Moomoo’s commitment to financial education and trading skill development.
The Moomoo app dominated brokerage rankings in Singapore and Malaysia, achieving record-breaking daily active users. In Australia, the platform secured its highest-ever ranking, with double-digit YoY growth in user engagement.
With strong revenue growth, expanding global user adoption, and major platform enhancements, Futu Holdings and Moomoo are poised for continued success in 2025.
For more information on Moomoo’s latest updates and trading innovations, visit www.moomoo.com.
Interactive Brokers (IBKR) has expanded its global trading network by offering access to the Ljubljana Stock Exchange, enhancing opportunities for investors to trade Slovenian equities alongside international financial assets.
With over 160 markets across the Americas, Europe, and Asia already available on its platform, IBKR continues to broaden its reach. The addition of Slovenian stocks allows clients to further diversify their portfolios while leveraging IBKR’s advanced trading tools.
Milan Galik, Chief Executive Officer of Interactive Brokers, commented, “Expanding our market coverage allows us to meet the needs of global investors. Adding access to the Ljubljana Stock Exchange provides new opportunities for our clients and further diversifies their trading options.”
Interactive Brokers is renowned for institutional-grade technology, low commissions, and professional pricing, supporting multiple asset classes—including stocks, options, futures, currencies, bonds, and funds—all within a single account. Its platform is available in over 200 countries and territories, featuring real-time market data and advanced execution solutions.
IBKR’s latest brokerage metrics reflect significant growth in trading activity:
The firm also shared insights on execution costs:
IBKR’s U.S. Reg-NMS execution performance indicated that PRO clients faced an all-in trading cost of 3.1 basis points in February, with a 12-month rolling average of 4.0 basis points.
With a growing global presence and a commitment to automation, IBKR continues to position itself as a leader in the brokerage industry.
Robinhood’s cryptocurrency trading volume saw a sharp decline in February, falling to $14.4 billion—a 29% drop from January’s $20 billion, the company reported on Tuesday.
In comparison, equity trading volumes dipped just 1% month-over-month to $142.9 billion.
Despite the slowdown, retail investor interest in crypto remains strong. In the first two months of 2025, Robinhood recorded $34.4 billion in crypto trading volume, already nearing the company’s second-best quarterly performance from last year. In Q4 2024, crypto trading on Robinhood surged 400% year-over-year, reaching $70 billion as Bitcoin soared to $100,000 following Donald Trump’s election victory.
Throughout 2024, Robinhood’s crypto trading volumes had been steadily declining—from $36 billion in Q1 to $21.5 billion in Q2 and $14.4 billion in Q3—before the late-year rally reversed the trend.
Robinhood’s crypto business remains a major growth driver. In Q4 2024, nearly half of the company’s $672 million in transaction revenue came from a staggering 700% surge in crypto trading, fueled by Bitcoin’s rapid rise and optimism about regulatory changes.
Robinhood CEO Vlad Tenev sees tokenization as a key component of the company’s long-term crypto strategy. Following the SEC’s decision to close its investigation without enforcement action, Tenev emphasized that integrating Bitstamp would give Robinhood institutional market access, expanding its crypto offerings beyond retail trading.
“We really see an opportunity to bring the same Robinhood effect that we’ve delivered to retail into the institutional space with crypto,” Tenev said.
In February, the U.S. Securities and Exchange Commission (SEC) officially closed its investigation into Robinhood’s crypto division, confirming in a letter that it would not pursue enforcement action. This marked the end of a probe that had loomed over the company since last year.
The decision came just three days after Coinbase revealed that the SEC had also dropped its enforcement case against the exchange—a significant regulatory shift under Donald Trump’s administration.
Robinhood had been under regulatory scrutiny since May 2024, when it received a Wells notice warning of potential securities law violations related to its crypto listings, custody services, and platform operations.
At the time, Chief Legal Officer Dan Gallagher criticized the SEC’s lack of clear regulatory guidance, arguing that the company had made «years of good-faith attempts» to work with the agency.
DMA, a leading global provider of all-in-one software solutions for financial advisers and wealth managers, has announced an agreement to acquire a majority stake in Saxo Australia, a prominent multi-asset investing specialist. This acquisition marks DMA’s strategic expansion into the Australian market, reinforcing its position as a key player in the financial technology and services sector.
As part of the agreement, Saxo Australia will continue to rely on Saxo Bank’s renowned platform and trading technology, ensuring business continuity and minimal disruption for existing clients. The transaction is expected to close in the second half of 2025.
Following regulatory approvals, DMA will assume an 80.1% ownership stake in Saxo Australia, with Saxo Bank retaining a 19.9% equity interest. This sale comes after Saxo Bank’s announcement in June 2024 regarding a review of strategic opportunities in the Asia Pacific region, aimed at accelerating growth and enhancing regional presence.
The business will retain its current name during a transitional period, with plans to establish a new brand identity post-acquisition. Saxo Australia’s dedicated staff, led by CEO Adam Smith, will continue to serve clients while strengthening the firm’s local customer support and service capabilities.
Smith says Saxo will ensure a smooth transition and aim to enhance the offerings and services provided. “The clients of Saxo Australia will notice no disruption in service, product range, or platform access. We are very pleased to partner up with DMA and believe that this will be a game changer for Australian clients,” he adds.
The partnership will combine Saxo Australia’s extensive investment product range and high-touch brokerage services with DMA’s cutting-edge business-to-business expertise, global advisor network, and growth-focused strategy.
Once fully integrated, DMA’s proprietary Software-as-a-Service (SaaS) platform will empower Australian institutional investors—such as financial advisers, asset managers, and fund managers—to streamline front, middle, and back-office operations. The SaaS solution will cover everything from clearing and settlement to execution and custody, offering a comprehensive, integrated approach to asset management.
Richard North, CEO of DMA, believes the platform’s capabilities will bring significant value to Australian financial advisers and wealth managers. «This partnership combines the best of both Saxo and DMA, offering Australian investors a comprehensive solution for their entire investment lifecycle,» North says.
DMA, headquartered in Johannesburg, South Africa, is a global leader in technology and financial services. The company manages and administers over €15 billion ($24.67 billion) in assets through its integrated SaaS platform. More than 160 wealth managers and adviser networks across Africa, Europe, and the UK currently rely on DMA’s platform to access global markets, simplifying their operations and reducing costs.
DMA Chief Executive Officer Richard North believes DMA’s platform offering will bring tangible benefits to Australian financial advisers and wealth managers, while the business will continue to focus on delivering high-touch, high-quality service for self-directed retail clients. “It’ll be the best of Saxo and the best of DMA and we think that adds up to the marketplace’s best choice for investors across the entire lifecycle,” says North.
DMA’s SaaS platform is designed to streamline asset management processes, enabling institutional investors to focus on wealth growth while reducing operational costs. Saxo Bank has operated in Australia since 2012 and is a licensed subsidiary regulated by ASIC, offering robust multi-asset trading capabilities and award-winning platforms to clients across the region.
This acquisition sets the stage for a new chapter in the Australian financial services market, combining the best of technology and client service to deliver unparalleled value to investors.
XTB has revealed its preliminary results for 2024, showcasing a significant 59.8% increase in new clients, with 498,400 added throughout the year. This brings its total client base to 1.36 million, marking impressive growth. Active clients on the platform surged to a record 658,500, a 61.2% rise compared to the previous year.
The company recorded consolidated revenues of EUR 435.3 million, up 21.8% from 2023, with net profit reaching EUR 199.7 million, reflecting a 14.3% increase despite higher operating costs, which rose to EUR 205.3 million. XTB attributed this growth to heightened investor interest, fueled by low interest rates and inflation. The company also focused on promoting financial literacy and providing users with tools for portfolio management and real-time transactions.
48% of XTB’s earnings came from Contracts for Difference (CFDs) based on commodities, including gold, natural gas, and cocoa, which contributed most to profitability. Index-based CFDs accounted for 33.3% of total revenue, while currency-based CFDs contributed 14.6%, with bitcoin and the USD/JPY pair being top performers. Additionally, XTB saw a 138% increase in turnover from shares and ETFs, reaching USD 3.1 billion.
Omar Arnaout, CEO of XTB, said: “2024 has been a landmark year for XTB. I’m particularly excited about the significant growth in new clients, especially active investors, who are vital for our future success. We’ve welcomed nearly half a million new investors, thanks to our diverse product offerings and effective marketing strategies. Remarkably, about 80% of these clients start investing in shares and ETFs, suggesting strong long-term loyalty.”
XTB surpassed its 2024 target of adding 65,000 to 90,000 new clients per quarter. For 2025, the company aims to acquire an average of 150,000 to 210,000 new clients each quarter. XTB also plans to expand its product offerings, including options and cryptocurrency trading, while continuing to enhance its services. The company introduced auto-investing features, new investment accounts in Poland and the UK, and a multi-currency eWallet card.
“Our product plans respond to the dynamic changes in the world of finance and the needs of investors. We are continually developing the XTB application to provide users with a highly functional and comprehensive financial management platform. These new solutions bring us closer to becoming a European leader in the industry,” Omar Arnaout added.
Looking ahead, XTB plans to enter the Brazilian market, introduce investment accounts in Poland and France, and further enhance its eWallet. The company is also preparing to expand into Indonesia by mid-2025.
Trade Republic, a leading digital bank and broker, has further expanded its European presence by launching a free current account and local IBAN in Italy. The company now offers automated tax deduction through the Regime Amministrato, directly competing with local banks. This follows its recent expansion into France, enhancing its services across Europe.
With over 8 million customers and €100 billion in assets under management, Trade Republic continues to innovate in the fiat-to-crypto space. Its offerings include a free current account, 1% Saveback on card payments reinvested into savings plans, 3% annual interest on balances, and free savings plans for customers.
Christian Hecker, co-founder of Trade Republic, said: “Millions of Europeans have realized that their governments lack solutions for one of the most critical challenges of our time. The pension gap is a predictable and measurable problem that continues to be overlooked in political discussions. With our full banking license, national branches, and proprietary infrastructure, we are committed to develop localized and cost-effective savings products to empower people to take control of their financial future.”
Julian Collin, general manager international markets at Trade Republic, said: “The pension gap is a European problem. However, the solutions for our customers must be tailored to local needs. Our mission is to offer every European the best possible tools for long-term saving. Following France, Italy is the second major European market this year where we’ve localized our product. This is another step forward in driving European growth and increasing competition within the traditional banking sector.”
Trade Republic, which doubled its customer base to 8 million and saw assets grow to €100 billion, continues to expand its influence across European markets. The company has made substantial investments in its infrastructure, achieving significant growth while maintaining a profitable year despite passing on full ECB interest rates to customers.
Looking ahead to 2025, Trade Republic plans to further accelerate international growth by establishing local bank branches across Europe, offering localized banking services and savings products. For example, over 1 million French customers now benefit from commission-free savings plans and 3% interest on their balances with a national IBAN.
Trade Republic’s innovations, such as the Visa card offering 1% Saveback rewards, highlight its commitment to making financial tools accessible. The Trade Republic card, with no monthly fees and free worldwide ATM withdrawals, offers users competitive benefits alongside high interest on savings.
Having secured a full banking license from the European Central Bank (ECB) in late 2023, Trade Republic has expanded its product offerings, including bond trading and fractional investing, while also passing 4% interest to its customers.
The company’s expansion into banking services, including deposit and lending services, positions Trade Republic as a comprehensive financial institution, providing a wide array of services to customers across Europe.
As a fully-regulated bank supervised by BaFin, Trade Republic is reshaping the financial landscape by offering commission-free access to capital markets, including ETFs, bonds, derivatives, and crypto, and creating new ways to save through ETF savings plans.
Hantec Markets, a leading UK-based forex (FX) and contracts-for-difference (CFD) broker, has announced a significant multi-year sponsorship agreement with Atlético de Madrid, the renowned Spanish La Liga club. This partnership, which will last until 2027, designates Hantec Markets as the official online trading partner of the club in Latin America.
The collaboration is expected to boost engagement with Atlético de Madrid’s extensive fanbase across the region, while also enhancing Hantec’s presence in key international markets. Though the financial details of the agreement were not disclosed, estimates suggest Hantec Markets will pay a six-figure sum for this partnership, a trend now common among top-tier sports sponsorships.
As part of this deal, Hantec Markets will enjoy exclusive opportunities for brand promotion, including experiential activations and events, leveraging Atlético de Madrid’s global fanbase to expand its financial services and products worldwide.
“We are thrilled to partner with Atlético de Madrid, a club that embodies the same drive and determination that fuels our mission at Hantec Markets,” said Bashir Nurmohamed, the company’s CEO. “Together, we celebrate a shared vision of pushing boundaries, achieving great goals, and uniting communities across the world. We are excited to embark on this journey with one of the most iconic clubs in the world and look forward to creating unforgettable experiences for fans and our users.”
Rajan Naik, Global Head of Marketing at Hantec Markets, added, “We are immensely proud to join forces with Atlético de Madrid. This collaboration goes beyond sports and trading: it’s about striving for great objectives. It also represents a significant step in our global strategy to align with partners who share our commitment to delivering exceptional results. We eagerly anticipate a dynamic season full of opportunities to engage with fans and traders alike.”
Founded over two decades ago, Hantec Markets is a subsidiary of Hantec Group and has established itself as a trusted forex trading provider with a presence in London, Sydney, Tokyo, Hong Kong, Auckland, Dubai, Mauritius, and Lagos. In 2017, Hantec acquired IKON Finance’s retail client base and further expanded its reach by becoming the official FX partner of Premier League club West Ham United for three years.
For more information, visit Hantec Markets.
ATFX unveils its 2025 slogan, “Illuminate the Future Spectrum,” highlighting its commitment to transparency, innovation, and empowering traders worldwide.
In a world where markets evolve rapidly alongside technological advancements, ATFX proudly announces its 2025 slogan, “Illuminate the Future Spectrum.” This statement reflects ATFX’s unwavering commitment to empowering traders by offering tools, insights, and support to navigate an ever-changing financial landscape.
“Illuminate the Future Spectrum” embodies ATFX’s ongoing dedication to innovation, transparency, and client-focused service. Since its founding in 2017, ATFX has built a strong reputation as a global financial services provider, offering advanced trading technology and robust educational resources.
The spectrum metaphor perfectly captures ATFX’s vision. Just as a spectrum unifies varied wavelengths, ATFX’s diverse achievements—ranging from market expansion in Australia, the Levant, and Africa to strengthening its presence in Asia and Europe—align toward a singular goal: shaping the future of trading and empowering clients to seize global opportunities.
“Illuminate” symbolizes ATFX’s dedication to providing traders with transparent insights and intuitive tools. By empowering traders with actionable knowledge, ATFX ensures that opportunities in the financial world remain accessible.
In 2024, ATFX’s dedication to innovation earned prestigious awards, including:
These accolades underscore ATFX’s commitment to innovation and client-first solutions.
ATFX remains at the forefront of financial market evolution, leveraging technological advancements and strategic partnerships to empower traders.
Key initiatives in 2024 included:
These efforts demonstrate ATFX’s commitment to future-proofing traders’ strategies in an ever-changing financial environment.
“Spectrum” reflects ATFX’s wide range of offerings, from equities and commodities to forex and indices, designed to cater to traders at all levels. ATFX’s global footprint spans 23 locations, with significant expansions in 2024, including new offices in Sydney, Australia, and Mexico.
Additionally, ATFX Connect launched proprietary trading services to foster financial and professional growth, further solidifying ATFX’s position as a leader in the trading industry.
As 2025 unfolds, ATFX reaffirms its commitment to being a trusted partner in the trading community. “Illuminate the Future Spectrum” represents a pledge to provide clarity, innovation, and support to traders at every stage of their journey.
Whether you’re a beginner or a seasoned investor, ATFX offers the tools, transparency, and education you need to succeed in the dynamic world of trading.
For more information, visit ATFX’s website.
ATFX Africa is setting new standards for traders across South Africa, delivering innovative tools and seamless services tailored to enhance every aspect of the trading journey. With recent structural upgrades, the platform simplifies account registration and optimizes withdrawal processes, ensuring fast and efficient fund access for traders seeking smooth liquidity and market entry.
The integration of advanced MetaTrader 5 (MT5) features empowers both novice and seasoned traders to create and execute customized strategies, with real-time mobile trading ensuring no compromises on performance. ATFX Africa’s scalable infrastructure meets increasing trading volumes while maintaining exceptional service standards, underscoring its commitment to innovation and reliability.
A pivotal step in its growth was the acquisition of Khwezi Financial Services, a licensed Over-the-Counter Derivative Provider (ODP) regulated by the FSCA. This move bolstered ATFX Africa’s compliance capabilities, market reach, and service offerings, enabling secure and regulated trading options like CFDs for South African traders.
The company’s expansion strategy includes building local partnerships with financial institutions and regulatory bodies, further strengthening its reputation as a trusted trading partner. These efforts reflect ATFX Africa’s mission to deliver secure, transparent, and innovative trading solutions while supporting the country’s economic growth.
With its focus on customer satisfaction, cutting-edge technology, and trust, ATFX Africa continues to lead South Africa’s financial trading industry.
FxPro introduces BankPro, a Bahamas-regulated private digital bank offering integrated financial services for both individuals and corporations, including multi-currency accounts, global banking solutions, and advanced trading features.
FxPro Group, the parent company of the established retail FX/CFD broker FxPro, has announced the launch of BankPro, a Bahamas-regulated private digital bank serving both individual and corporate clients. Backed by 25 years of industry experience and $120 million in Tier 1 company capital, FxPro Group’s latest venture integrates global banking and investment services within a single, user-friendly platform.
BankPro operates under regulation by the Central Bank of The Bahamas, combining private banking with advanced trading and investment capabilities. With a presence in over 170 countries and a record of $200+ million invested in sponsorships, FxPro continues to broaden its financial offering, now providing seamless and secure digital banking solutions.
BankPro facilitates international transactions by offering access to over 24 currencies at competitive exchange rates. Clients can maintain both personal and corporate accounts, supported by a single platform that streamlines global financial management.
The bank’s Visa Platinum cards provide worldwide acceptance, customizable spending limits, and enhanced security, while instant virtual cards offer a convenient option for online purchases. BankPro’s transparent flat-fee structure ensures predictable costs for international transfers, delivering value and clarity for clients engaged in global transactions.
BankPro incorporates a comprehensive investment and trading environment, allowing users to manage and grow their portfolios efficiently. Key offerings include:
For corporate clients, BankPro supports multi-currency accounts, comprehensive expense management, and advanced treasury solutions. Businesses can utilize high-spending Visa Platinum cards, detailed reporting, and flexible investment opportunities to streamline their financial operations.
BankPro’s headquarters in Lyford Cay, Nassau, underscore its commitment to The Bahamas as a strategic financial hub. An additional presence in the City of London, UK, enhances the bank’s global reach.
As a regulated entity and a member of the Association of International Banks and Trust Companies, BankPro upholds robust security standards. Advanced digital onboarding, strong fraud prevention measures, and FxPro Group’s longstanding industry expertise solidify BankPro’s standing as a reliable provider of global financial services.
The Financial Commission, a leading external dispute resolution (EDR) organization serving the global financial services industry, is issuing a public warning regarding a website (https://fdrc.org.uk) that is falsely mimicking the Financial Commission’s services in order to legitimize unknown brokers, who are not members of the forum.
The website, operating under the name “Financial Dispute Resolution Commission” (FDRC), is attempting to mislead and defraud financial consumers by claiming to offer genuine dispute resolution services and certifications when, in reality, it provides no actual support or resolution.
Mimicry of Financial Commission Services
The FDRC has unlawfully used the Financial Commission’s legal name in its disclaimer (https://register.fdrc.org.uk/disclaimer/) and plagiarized several official press releases from the Financial Commission’s website, falsely presenting these as evidence of its services. The copied content includes outdated announcements that FDRC has no legitimate association with. This mimicry includes false claims of dispute resolution services and membership benefits which the FDRC is not authorized to provide or facilitate.
Examples of these plagiarized releases include:
This unlawful impersonation goes beyond mere copyright infringement; it is a fraudulent attempt to trick users into believing they are engaging with an authorized dispute resolution entity. The FDRC has created a misleading structure on its website, resembling the original Financial Commission services, such as EDR offerings, membership benefits, and certifications, which they do not genuinely provide.
We remind the public that the Financial Commission’s services are 100% free for traders, and we only reach out in response to direct inquiries made through our official website or verified social media channels. The Financial Commission never solicits fees, payments, or personal data without a prior request initiated by the trader.
To avoid falling victim to this and similar fraudulent sites, ensure that you are visiting the Financial Commission’s official website at https://financialcommission.org and verify the .org domain suffix. If you receive any suspicious communication claiming to be from the Financial Commission, please contact us directly to confirm authenticity.
The Financial Commission is an independent external dispute resolution (EDR) organization dedicated to supporting consumers who cannot resolve disputes directly with their financial services providers. Initially founded to help resolve issues in electronic markets such as Forex, CFDs, and cryptocurrency trading, the Financial Commission has since expanded to certify trading technologies and uphold transparency and trust in the financial services industry.
For further information, please visit our official website at https://financialcommission.org.
Moomoo, a prominent trading platform, partnered with Cboe Global Markets to release the 2024 Options Trader Survey, which reveals a surge in options trading interest among retail investors.
Growing Popularity of Options Trading
The survey shows a significant rise in options trading adoption among retail investors, with many embracing basic options strategies and aiming to learn more advanced techniques. Findings highlight that retail traders are actively seeking ways to enhance their skills and knowledge in this area.
Nearly Half of Retail Investors Trade Options Regularly
Conducted in September 2024 with over 1,000 participants, the survey found that 67% of respondents have been trading options for under three years. Nearly half of these investors engage in options trading on a daily or weekly basis, with 43% trading Zero Days-to-Expiration (0DTE) options, a rapidly growing trend in the options market.
Income generation (67%) and risk management were cited as primary reasons for retail interest in options. Factors such as lower trading fees, greater access to financial information, and advanced analytical tools also drive the popularity of options trading. The survey underscores the importance of educational resources, with many traders seeking better tools to refine their strategies and understanding.
Cboe contributed data to enrich the survey insights, highlighting the growth potential in options trading as retail investors increase their engagement. Moomoo is committed to supporting this community by providing free educational tools, resources, and interactive learning events.
Neil McDonald, CEO of Moomoo US, commented, “Options trading interest has reached an all-time high. As a veteran in derivatives trading, I’m excited to see retail investors accessing rich data and tools. At Moomoo, we’re dedicated to offering top educational resources to support the retail investment community.”
Cboe Expands with VIX Futures Options
This month, Cboe introduced options on the Cboe Volatility Index (VIX) futures. The options are based on front-month VIX futures, enabling investors to manage market volatility. With futures as the underlying asset, these options will be regulated by the CFTC, offering access to a broader range of market participants who may be restricted from securities-based options.
The options on VIX futures, which are European-style and physically settle into front-month VIX futures, are expected to complement existing VIX Index options. This provides customers with more expiration date choices and additional tools for tailored hedging strategies. Options on VIX futures join a lineup of Cboe’s volatility products, including Cboe Volatility Index (VIX) futures and forthcoming products like Cboe S&P 500 Variance (VA) futures and Cboe S&P 500 Dispersion Index (DSPX) futures.
South Africa’s Financial Sector Conduct Authority (FSCA) has imposed a 10-year ban on Kabelo Emanuel Mogale and fined him R1,015,315.87 ($54,827) for providing unlicensed financial signals in the forex market.
An FSCA investigation revealed that Mogale was operating under the alias “Forex Private Jet Injectors,” offering unauthorized financial advice and forex signals via Telegram. The FSCA stated that these actions breached the Financial Advisory and Intermediary Services Act (FAIS Act), which mandates that individuals offering financial services must hold a valid license.
The regulator determined that Mogale’s forex signals and trading tips qualified as providing financial services. Additionally, the investigation found that Mogale failed to cooperate with authorities, further violating section 139(2) of the Financial Sector Regulation Act No. 9 of 2017.
Providing financial signals without proper licensing is illegal under South African law, and those engaging in such activities face criminal penalties. The FSCA emphasized that signal providers who charge fees or take a share of profits must be licensed to operate legally within the financial services sector.
Investors are urged to verify the licensing status of any financial service provider, particularly in the online trading and forex markets, to avoid falling victim to unlicensed operators. The FSCA continues to oversee and regulate forex brokers in South Africa, ensuring that platforms operating within the country comply with local regulations.
In a broader effort to enforce compliance, the FSCA recently warned against 14 unlicensed Financial Service Providers (FSPs) offering derivative trading options. This warning, issued on March 28, 2024, highlighted the risks associated with unregulated financial activities and reinforced the need for investor vigilance.
The Financial Commission, a leading external dispute resolution (EDR) forum catering to the financial services industry, today announces its participation at the upcoming FOREX EXPO Dubai conference on 7-8 October, 2024.
The Financial Commission invites all brokers, attendees, and interested parties to visit booth #208 during the event to explore the Financial Commission’s popular external dispute resolution (EDR) and certification services, which are used by over 45 brokers today.
Financial Commission representatives will be ready to showcase membership and certification options and value-added services from companies such as VerifyMyTrade, BrokerPilot, and Yourbourse. Attendees will also be able to get insights into the Financial Commission’s annual and quarterly operating metrics and find out how its external dispute resolution service helps thousands of traders and broker members in various ways each year.
Financial Commission Chief Operating Officer Nikolai Isayev said: “We are looking forward to participating in our first FOREX EXPO in Dubai and looking forward to networking with key players in the MENA region, which along with Asia is a growing market for firms in our industry space.”
To schedule an appointment with our representatives at the FOREX EXPO Dubai, please email [email protected].
About The Financial Commission
The Financial Commission is an independent external dispute resolution (EDR) forum for consumers/traders who are unable to resolve disputes directly with their financial services providers who are members of the Financial Commission. The Financial Commission initially set out to provide a new approach for traders and brokers alike to resolve any issues that arise in the course of trading electronic markets such as Foreign Exchange, and then expanded into CFDs and related derivatives, in addition to certifying technology platforms used for trading.
For more information, please contact us at [email protected].
Webull Canada has officially launched options trading, providing its clients with powerful new tools to diversify investments and hedge against market risk. This new feature enables users to leverage market fluctuations more effectively, generating potential income through speculation and risk management, even during volatile periods.
Michael Constantino, CEO of Webull Canada, said: “Options have been one of the most requested offerings from our users, and I’m incredibly proud of our team’s dedication in bringing it to life. With an array of powerful tools and competitive low fees, this product meets the needs of our users in today’s dynamic market, empowering them to achieve their financial goals even during periods of volatility.”
Since its launch in January 2024, Webull Canada has quickly grown, providing users access to both Canadian and US-listed equities through its award-winning app. Regulated by CIRO and a member of CIPF, Webull has become a trusted platform in the Canadian market, offering robust tools such as real-time quotes, market data, 60+ indicators, paper trading, and educational resources.
In March, Webull Canada introduced a cash management solution, offering interest on uninvested cash balances—4% CDN or 3% USD—accruing monthly with no account minimums or fees. This offering allows Canadian users to earn passive income without restrictions, further solidifying Webull’s commitment to helping investors succeed during unpredictable market conditions.
Globally, Webull serves millions of users across 180 countries, including the United States, United Kingdom, Hong Kong, and Singapore. With the recent launch of a desktop platform in Canada, users now benefit from customizable multi-screen setups and advanced analytics, enhancing their ability to make informed trading decisions.
Webull’s expansion into options trading in Canada marks a significant step in offering Canadians a broader range of investment strategies, providing both novice and experienced traders with the tools they need to navigate today’s dynamic financial landscape.
The Financial