Tradu has partnered with TradingView to offer clients access to TradingView’s charting library, enhancing market analysis, creating custom charting templates, and executing trades seamlessly within the Tradu CFD ecosystem. The integration allows Tradu users to utilize TradingView’s powerful front-end tools without any additional fees, accessible through a single sign-on.
TradingView’s Advanced Charting Tools Now Available on Tradu
Tradu, part of Stratos and a wholly-owned subsidiary of Jefferies, provides active traders and investors with access to thousands of tradable assets, including equities, commodities, CFDs, forex, treasuries, indices, and cryptocurrencies. By integrating TradingView, Tradu enhances its multi-asset trading platform with top-tier charting and trading capabilities.
Key Features of TradingView on Tradu:
– Over 110 advanced drawing tools, 100+ technical indicators, and 10+ chart types
– Advanced charting functionalities, including trading from the chart, multiple charts display, custom resolutions, and advanced price scaling
– Real-time market news updates directly from Tradu’s newsfeed
– Secure server-side storage of watchlists and settings
Empowering Traders with Sophisticated Tools
Brendan Callan, CEO at Tradu, commented: “Our goal at Tradu has always been to provide our clients with the most sophisticated tools available to enhance their trading experience. TradingView has proven itself to be a leader in charting and trading solutions, and we are thrilled to offer its platform to our clients at no additional cost. This partnership aligns perfectly with our mission to deliver cutting-edge resources that empower active traders and investors to succeed.”
Pierce Crosby, General Manager at TradingView, commented: “As a new platform, we find Tradu in a unique position in the market considering they are building all new technology and leveraging the best in class charting tools – among other great resources for traders. We will work closely with the Tradu team to bring new products to market and give traders the ability to trade multiple asset classes all from a single platform.”
Crypto Exchange
Tradu recently launched its crypto exchange, expanding beyond its multi-asset trading platform introduced in late 2023. The platform aims to offer low, transparent fees tailored for active traders, featuring over 40 cryptocurrencies, including Bitcoin and Ethereum.
Key Features of Tradu’s Crypto Exchange:
– Transparent fee structure with real-time spreads displayed before placing orders
– Low commission rate of 0.1%, with instant rebates of up to 0.05% for larger trades
– Option to choose between Zero Commission and Raw Spreads profiles
– Equal maker and taker fees for straightforward, fair trading
– Free crypto deposits and clear, simple withdrawal fees
– Access to 24/7 customer support via email, chat, and phone
Tradu’s platform also offers access to over 10,000 trading products across various asset classes, including equities, forex, and CFDs on commodities, stocks, treasuries, and indices. Users can access this robust trading portal through an intuitive mobile app and web platforms, making it easier than ever for traders to manage their investments across multiple markets.
FXOpen AU Pty Ltd, the Australian division of FXOpen’s CFD brokerage, plans to appeal the Australian Securities and Investments Commission (ASIC)’s decision to revoke its Australian Financial Services (AFS) licence.
The cancellation follows an ASIC investigation that raised concerns about FXOpen AU’s ability to meet key regulatory requirements.
ASIC Cites Compliance Failures
ASIC’s investigation identified several compliance issues with FXOpen AU, including alleged deficiencies in maintaining adequate human resources for delivering financial services and supervising operations. The regulator highlighted that FXOpen AU failed to:
– Maintain the necessary competence to provide licensed financial services
– Comply with the ‘key person’ condition of its licence
– Adhere to financial services laws
The AFS licence 412871, granted in December 2011, permitted FXOpen AU to issue contracts for difference (CFDs), which are leveraged derivative products for speculating on price movements of assets like foreign exchange, stocks, commodities, and cryptocurrencies.
ASIC justified the licence cancellation by citing the risk posed to both existing and future clients due to FXOpen AU’s non-compliance. This action aligns with ASIC’s broader regulatory goals to enhance fairness, professionalism, and investor confidence in the financial sector.
Broader Regulatory Context
ASIC’s action against FXOpen AU is part of a wider crackdown on retail over-the-counter (OTC) derivatives issuers. The regulator has taken enforcement actions against several firms for similar compliance issues and has extended its CFD product intervention order until May 2027 to mitigate risks associated with high-leverage products for retail clients.
ASIC has also imposed significant penalties on non-compliant firms and overseen compensation payouts for retail investors affected by misconduct in the OTC derivatives market.
FXOpen AU’s Response
Jafar Calley, CEO of FXOpen AU, expressed disappointment at the timing of the licence cancellation. He noted that the company had been actively working with ASIC to address the identified issues.
“FXOpen AU has been addressing ASIC’s concerns for several months. Unfortunately, the licence was cancelled before we had the chance to fully resolve all issues. We intend to appeal ASIC’s decision and will continue our efforts to address these concerns in hopes of reinstating our licence,” said Calley.
The appeal will be closely watched, as its outcome may impact the broader CFD and forex trading industry in Australia. FXOpen AU’s ability to resolve the issues highlighted by ASIC will be crucial for regaining its AFS licence.
NAGA Enhances User Experience with New Features.
NAGA, a European neobroker recently acquired by CAPEX.com, has announced a series of updates to improve user experience and create a more user-friendly trading environment. These changes affect both the platform and mobile app.
NAGA has integrated Trading Central’s signals into its mobile app, providing users with timely and relevant trading insights. This feature allows traders to stay informed and make smarter trading decisions on the go. Additionally, the NAGA.com platform has revamped its interface, especially the Top Traders and Leaderboard sections, making it easier for users to discover and access detailed trader information.
NAGA has also revised the fee structure and remuneration policy for its copy trading product. Now, fees and premiums are performance-based, reflecting actual trading outcomes. This system rewards successful trading strategies, enhancing overall user satisfaction.
NAGA integrates social trading, stock and crypto investing, and neo-banking into one platform. It serves traders in over 100 countries and offers features like a physical VISA card with automatic crypto conversion and cashback, dynamic social feeds, and advanced auto copy functions for replicating top traders’ strategies.
NAGA is set to merge with Key Way Group Ltd., operating under the CAPEX.com brand, by the end of August 2024. This merger, approved by NAGA shareholders with a 99.81% vote, will create one of the world’s leading neo-brokers, serving approximately 1.5 million users in over 100 countries.
NAGA has recently strengthened its management team, appointing Michael Milonas as Group CEO and Sam Chaney as Chief Commercial Officer. For the 2023 financial year, NAGA reported brokerage business revenue of €45.5 million, a 20% decline from the previous year’s €57.6 million. However, the company’s EBITDA improved significantly to €7 million, up from a loss of €13.7 million the previous year.
Following a summer restructuring, NAGA reduced its cost base by nearly two-thirds compared to the same period the previous year while maintaining new customer growth above 2022 levels. The company also optimized its user acquisition strategy, reducing marketing and sales spending from €26 million in the first nine months of 2022 to €4 million for the same period in 2023. Consequently, the average net acquisition cost per new account dropped from €1,269 in 2022 to €181 in 2023, with NAGA acquiring around 10,000 new funded accounts in the first three quarters of 2023, only 19% less than the previous year.
STICPAY has unveiled a new cashback service designed to benefit customers trading with Forex and CFD brokers.
Named STIC Cashback, this new service allows customers to receive cashback when engaging with a broker partner through STIC Cashback. The cashback amount is based on the customer’s trading volume.
Exclusive Benefits Through STIC Cashback
Customers can choose a broker through STIC Cashback to enjoy exclusive benefits. Cashback is automatically credited according to the schedule set by each broker and is guaranteed to be paid as STIC Cashback, not by the broker, settling the payment.
By partnering with their chosen broker through STIC Cashback, customers benefit from STICPAY’s lower transaction fees, cashback benefits, and exclusive promotions, which are not available when trading directly with the broker.
New STIC Cashback customers signing up before July 31st can also receive a $10 bonus.
Over 20 FX/CFD Brokers Partnered with STIC Cashback
The new STIC Cashback service has teamed up with over 20 leading global brokers, including Exness, XM, FXGT, Justmarkets, FxPro, AvaTrade, and FinPros. This partnership offers traders a safe, streamlined, and reliable cashback service through membership in the STIC Cashback community.
The launch of STIC Cashback coincides with the retail forex trading market’s strong growth, driven by the rise of smartphones and the development of emerging market middle classes. Global daily forex trading has reached approximately $7.5tn, with retail trading estimated to account for about 5.5% of that.
Sean Park, STICPAY CEO, said: “Our forex cashback service is a gamechanger for those customers seeking extra value and benefit from their everyday trades. By simply partnering with their chosen broker through STIC Cashback, they can unlock a world of benefits that wouldn’t otherwise be accessible – and all though a safe, reliable and reputable platform.”
STICPAY Secures Labuan and Mauritius Licenses
STICPAY has recently acquired two new financial services licenses, enabling it to extend its services to clients in over 200 countries.
In Malaysia, STICPAY has been granted a Labuan Financial Services Authority license and has been registered as a money brokering and payment system operator compliant with Labuan IBFC laws. This license allows STICPAY to provide services to developing markets across Southeast Asia.
In Mauritius, STICPAY has been granted a Financial Services Commission (FSC) license and registered as a payment intermediary service. This license enables STICPAY to operate as an online Payment Service Provider (PSP) from Mauritius, accepting electronic payments through various methods, including credit cards, direct debit, bank transfer, and real-time transfers based on E-banking.
With the addition of the Labuan and Mauritius licenses, STICPAY now operates with three licenses, having previously acquired a UK Financial Conduct Authority (FCA) license in 2019. Equipped with these three licenses, STICPAY can now serve clients across more than 200 countries through its flexible e-wallet and payment gateway services.
Airwallex has received an Australian Financial Services Licence (AFSL) from the Australian Securities and Investment Commission (ASIC).
This authorization by the regulator formalizes Airwallex’s entry into investment products, marking the company’s evolution toward becoming a comprehensive financial services platform.
This AFSL is an additional license to the one Airwallex has held for its payments and foreign exchange business since 2016.
Airwallex to Launch Yield Product to Retail Market
The announcement comes just eight months after Airwallex launched Airwallex Yield for wholesale customers, enabling them to earn attractive returns on their AUD and USD balances without needing to open a foreign bank account – a first in Australia.
With this expansion, Airwallex Yield will now be available to the broader retail market with a lower minimum investment requirement of AUD$10K (or USD equivalent) starting today.
Airwallex Yield will allow customers to:
– Invest with a minimum investment of AUD$10K (or USD equivalent);
– Invest in funds that have historically returned more than triple the interest rates of saver accounts of the big four banks, with a current daily return of 3.67 percent for AUD balances and 3.95 percent for USD balances (compared to 1.06 percent p.a. and 0.50 percent p.a. respectively*);
– Avoid lock-up periods and easily move funds between their cash wallet balances and their Yield account, unlike term deposits.
With Airwallex Yield, customers can invest in a product managed by J.P. Morgan Asset Management (J.P. Morgan), one of the world’s most trusted asset management firms. The J.P. Morgan underlying funds hold the highest rating from Standard & Poor’s at ‘AAAm’ grade, and equally high ratings from all leading rating agencies.
Since its launch, Airwallex Yield has been available to businesses with a minimum investment of AUD $500K or USD equivalent. To date, Airwallex Capital Pty Ltd has attracted over AUD$100M in funds under management from customers.
Airwallex Yield has been designed to be a competitive alternative for businesses as its returns more closely track the RBA cash rate than the rates offered by traditional providers – a priority in this high inflation environment. Businesses could earn more than triple the amount of a saver account with a big four bank by investing with Yield.
Yield’s underlying fund, JPMorgan Liquidity Fund, offers a daily return of 3.67 percent on AUD balances and 3.95 percent on USD balances, compared to an average of 1.06 percent per annum for business saver accounts with the big banks for AUD and 0.50 percent per annum for USD*.
Yield for Flexibility, Attractive Rates, and Multi-Currency Capabilities
Shannon Scott, SVP of Product at Airwallex, said: “We’re excited to expand upon Yield to position Airwallex as the modern alternative to banks for businesses of all sizes. This move into investment products underscores our role as a comprehensive financial services platform that can help businesses manage their finances more efficiently. It’s especially timely as Australian SMEs face economic challenges and rising costs. Yield empowers them with its flexibility, attractive rates of return and multi-currency capabilities – a solution businesses have been craving for years.”
George Boubouras, Managing Director, Research, Investments & Advisory at K2 Asset Management Ltd (an Airwallex partner and issuer of the Yield product) said: “Cross-border trading companies can benefit from exposure to money market funds that are currently taking advantage of the higher yields on offer due to the higher Fed Funds cash rate in the US and domestically the higher cash rate set by the RBA. The benefits of a blended single multi-currency cash account that offers exposure to multiple currencies in a single account can assist with lower transaction costs and shorter settlement times compared to traditional currency accounts that offer lower yields and are more burdensome.”
Matthew Le, Head of South East Asia & Australia Sales, Global Liquidity, J.P. Morgan Asset Management, said: “J.P. Morgan Asset Management is delighted to partner with Airwallex. As a leading asset management firm, we have invested in our technology to evolve and meet the needs of financial service providers and the growing demands of customers today.”
OANDA Prop Trader has recently expanded its payment options to include cryptocurrencies, allowing global customers to utilize digital currencies for purchasing trading Challenges through the program’s user portal.
The proprietary trading division of OANDA, known as OANDA Prop Trader, offers a unique platform where self-directed traders can share trading signals on a profit-sharing basis with OANDA’s proprietary trading operations.
OANDA Prop Trader Debuts $10,000 Cryptocurrency Sweepstakes
Eligibility for the program requires participants to purchase and complete a Challenge, which serves as a means for traders to showcase their profit-generating and risk management skills. With the addition of cryptocurrency payments, participants can now immediately engage in these Challenges to evaluate their trading prowess.
In conjunction with these new payment methods, OANDA Prop Trader is launching a $10,000 Giveaway Sweepstakes, available to potential traders in all eligible countries. By registering for an OANDA Prop Trader account, entrants gain a chance to win one of one hundred $100 vouchers to use towards a Challenge, with winners chosen at random.
Digital Economy: A New Avenue into Prop Trading
Lucian Lauerman, Head of Digital Assets and Deputy COO at OANDA, said: “We’re pleased to announce that we’re adding crypto as a payment method in response to rising global demand. A large number of “tech-driven consumers” in the countries serviced by OANDA Prop Trader are embracing cryptocurrencies, so this is opening new doors for those traders who want to maximize the digital economy as a gateway into prop trading.”
Crystal Lok, Head of Emerging Markets at OANDA, said: “At OANDA Prop Trader, we value our customers and are committed to rewarding their journey toward becoming successful traders. The $10,000 Giveaway Sweepstakes represents a fun and affordable route for many aspiring traders to get a chance to test their skills in a prop trading environment.”
OANDA Announces Sale
OANDA Global Corporation is currently on the market, as reported by Sky News, with Nomura and Santander handling the sales process of the online trading pioneer established in 1995.
Since being acquired by CVC Capital Partners in 2018, OANDA has continued to grow its offerings, which now include trading in foreign exchange, equities, commodities, and cryptocurrencies. With a robust base of over 100,000 active traders, OANDA is projected to generate revenues nearing $175 million this year.
Launch of OANDA Crypto Trading
Building on its legacy, OANDA recently introduced OANDA Crypto, a new trading platform catering to UK investors. This platform enhances OANDA’s reputable offerings in currency data and analytics, delivering a comprehensive and secure environment for trading cryptocurrencies.
Operating under OANDA Coinpass Limited and regulated by the UK Financial Conduct Authority, OANDA Crypto supports trading in over 63 cryptocurrency pairs around-the-clock and offers features like direct UK bank account transfers, high liquidity, and advanced charting tools via TradingView.
Moomoo has partnered with TradingView, integrating its charting, trading platform, and social network for traders and investors. This collaboration allows moomoo customers to trade directly from the TradingView platform, accessing advanced charting tools, technical analytics, and comprehensive data.
Free Access to Trading Education and Community
The partnership offers traders free access to a wide range of investment courses, educational materials, and interactive events. Users can join forum discussions, trending topics, webinars, and seminars to enhance their investment knowledge and exchange ideas.
The moomoo app, offered by Moomoo Technologies Inc., is used globally, including in the U.S., Singapore, Australia, Japan, Malaysia, and Canada. While MTI is not a broker-dealer and does not provide investment advice, Moomoo Financial Inc. (“MFI”), an SEC-registered broker-dealer and member of FINRA/SIPC, offers securities products and services in the U.S. MTI and MFI are wholly-owned subsidiaries of Futu Holdings Limited (Nasdaq: FUTU).
Expanding the User Base
Justin Zacks, Vice President of Strategy at Moomoo, said: “We are excited to enhance our users’ overall investing experience through TradingView’s analysis and social network, which will create more robust interactions and deeper trading conversation. This partnership will also bring TradingView’s millions of users onto moomoo’s platform.”
Pierce Crosby, General Manager at TradingVew, commented: “Moomoo may be a relatively new brand here in the US, however, we are happy to welcome them to the TradingView ecosystem. Having worked with the team for some time now, we are impressed by their technology and speed to market. Clearly, this emphasis on high-performance tech is well-aligned with our own ethos, and we believe this sets the stage for a winning partnership with Moomoo.”
Moomoo Expands Offerings in Malaysia, Australia, and Japan
Moomoo Malaysia recently added fractional shares for over 500 US stocks and ETFs, lowering the entry barrier for new investors. This fractional investment model allows investors to diversify their portfolios without being constrained by high share prices, making it ideal for implementing a dollar-cost averaging strategy.
In Australia, moomoo introduced CHESS-sponsored trades, enabling direct access and ownership of shares on the Australian Securities Exchange (ASX) with minimal trading fees. The CHESS system provides a secure method of managing shareholdings and transactions. Moomoo’s offering in Australia includes access to over 22,000 shares and ETFs across Australia, the US, and Hong Kong markets, competitive trading fees, professional-level features, AI-powered capabilities, global news access, and free investment courses.
In Japan, moomoo launched trading services for over 4,000 securities listed on the Tokyo Stock Exchange. This expansion includes zero commission transactions for Japanese stocks through NISA and regular accounts, access to Morningstar’s research reports, advanced investment tools, and AI technology to assist investors in making informed decisions.
For more details on Moomoo and its offerings, visit Moomoo.
Top tennis stars Daniil Medvedev, Alex de Minaur, and Katie Boulter have been spotted with their new coach, the legendary John McEnroe. The players’ reactions to this partnership? Mixed, as McEnroe’s shouty and temperamental coaching style, coupled with his use of a wooden racket, brings some challenges.
This unique collaboration is part of a new initiative by Pepperstone, a globally recognized online trading provider. Following their successful ‘Don’t Be Fine With It’ campaign, this new content series features Pepperstone’s Global Tennis Ambassador, former World No. 1, and seven-time Grand Slam singles champion, John McEnroe. The series showcases McEnroe coaching and sharing his tips with the players on how to reach the top of the world rankings—though the players remain skeptical.
Pepperstone’s Global Head of Brand, Jodi Cutler says “Working with both Alex De Minaur and John McEnroe is always such a pleasure. We’re incredibly passionate about supporting Alex’s rise up the rankings, and excited to now also be working with both Katie Boulter and Daniil Medvedev”.
“I can’t believe they got me to do this again,” McEnroe said. “It’s all about participating in a fun Pepperstone campaign with some of the very best players in the world.”
The campaign, created by Saatchi and Saatchi, directed by award-winning comedy director Benji Weinstein, and produced by FINCH, is gaining traction on social media globally.
For more details on Pepperstone and their campaigns, visit Pepperstone.
The Italian securities regulator, Consob, has issued a public advisory regarding the potential dangers associated with proprietary trading (prop trading) firms. These firms trade for their own accounts and offer consumers opportunities to engage in investment activities that can be costly and encourage reckless behavior.
Prop trading firms enable consumers to trade various financial instruments such as shares, bonds, commodities, cryptocurrencies, CFDs, and forex products without using their own capital. However, the seemingly risk-free nature of these opportunities often conceals significant financial risks.
Consob warns investors about online and social media promotions that simulate trading activities. These promotions, often likened to a finance video game, require passing skill tests to make profits. This operating scheme is known by various names, including shadow investment games, funding trading, and financed trading accounts.
The regulatory notice explains that these schemes typically involve enrollment in paid training courses. Those who pass the test are offered a chance to transition from simulated trading to real trading with capital provided by the prop firms. These schemes often promise participants the opportunity to share in any profits made.
Consob has received multiple reports from users who have signed up for such offers. Complaints include the contrived difficulty of the tests designed to push participants to keep trying and the failure to share the promised profits. Similar warnings have been issued by financial regulatory authorities in Belgium (Fsma) and Spain (Cnmv), highlighting the risks associated with these offers, which can lead to the loss of pledged amounts.
Consob has concluded that these entities are under investigation for exploiting the financial inexperience of consumers and enticing them into high-risk investments. The sector operates in a regulatory grey area, as most prop trading offerings predominantly feature demo accounts. These accounts, designed for training and strategy testing purposes, are not subject to regulatory oversight in any jurisdiction, as current information allows.
The Commodity Futures Trading Commission (CFTC) has granted approval for ForecastEx LLC to operate as a contract market and derivative clearing organization.
ForecastEx, a fully-owned subsidiary of Interactive Brokers, will commence operations on Monday, July 8, 2024.
Interactive Brokers clients from eligible countries will gain immediate access, as the brokerage firm becomes the first Futures Commission Merchant to join as an exchange member.
Expressing Unbiased Expectations Through Markets
Thomas Peterffy, Chairman and Founder of Interactive Brokers Group, commented on the launch: “ForecastEx is a prediction market we have been developing for nearly 10 years. Planning for the future is crucial for any business leader, government official, or individual. Accurate information about the state of the world allows us to plan and coordinate our actions more effectively. Markets provide direct expressions of our unbiased expectations, with market prices reflecting the prevailing consensus. We can adjust our plans based on these forecasts or act on our disagreements to earn profits or hedge our exposures.”
Simple and Intuitive Contracts on ForecastEx
ForecastEx contracts are designed to establish consensus views on various issues and hedge economic exposure. The platform offers simple and intuitive contract listings:
For example, if an investor believes the US Consumer Price Index (CPI) will rise above a specific value, they can buy a “yes” contract. Conversely, if they think the event will not happen, they can purchase a “no” contract. Contract prices range from $0.02 to $0.99, fluctuating based on market participants’ judgments of probabilities. Upon event resolution (e.g., the US Bureau of Labor Statistics announcing the CPI), the contract settles at $1 for a correct contract and $0 for an incorrect one.
Expansion to Global Issues
ForecastEx contracts are available with weekly, monthly, quarterly, and annual durations. Interactive Brokers will pay interest at 0.5% below the prevailing Fed Funds rate on the closing market value of positions, with income interest accruing daily and paid monthly, currently at a rate of 4.83% APR.
Available Contracts
ForecastEx will initially offer contracts for the following indicators:
Economic:
– US Fed Funds Target Rate
– US Consumer Sentiment
– US Housing Starts
– US Retail Sales
– US Building Permits
– US Consumer Price Index
– US Payroll Employment
– US Unemployment Rate
– US Corporate Profits
– US Initial Jobless Claims
– US National Debt
– US Real GDP
Climate:
– Global Temperature
– US Temperature
– Atmospheric Carbon Dioxide
Following its initial launch, ForecastEx plans to expand internationally and include additional local and controversial global issues.
IG US has announced the rebranding of its brokerage and platform technology to tastyfx, aiming to better align with the US brokerage market and integrate FX trading into the tasty family of products. This rebranding reflects the company’s strategic move to cater more specifically to US-based forex traders.
While the name will change, the trading platform will largely remain the same. tastyfx will provide a forex-centric brand for US clients, offering a source for forex trading and content supported by fast technology, zero commissions, and excellent customer service.
tastyfx has recently been recognized by the ForexBrokers.com Annual Awards, securing the #1 spot in several categories, including #1 Mobile App, #1 Trust Score, #1 Web Platform, #1 for Beginners, and #1 in Education. Notably, tastyfx was also named #1 Overall Broker, an accolade it has earned for six consecutive years.
“tastyfx will go even further in offering forex traders in the US”
The US retail forex market has experienced a 6% growth in 2023, as traders seek direct exposure to global economic shifts, encompassing factors like inflation rates, central bank interest rate decisions, and geopolitical events.
Pete Mulmat, CEO of tastyfx, said: “Changing our name to tastyfx marks the beginning of a new chapter for us. We’ve seen incredible growth in our business over the past few years, but tastyfx will go even further in offering forex traders in the US an unparalleled experience.”
JJ Kinahan, CEO of IG North America and President of tastytrade, commented: “The tastyfx rebrand is another illustration of how we’re evolving our company identity and our brands, while continuing to offer the fast, easy forex trading experience that our customers love.”
IG Group Acquired tastytrade for $1 Billion in 2021
Tastylive and tastytrade, subsidiaries of IG North America, were established in Chicago by thinkorswim co-founders Tom Sosnoff and Scott Sheridan and were acquired by UK-headquartered IG Group for $1 billion in 2021.
This rebranding news follows tastytrade’s recent move to a new 35,000-square-foot headquarters in the Fulton Market district of downtown Chicago. Demonstrating its commitment to Chicago, IG announced that tastytrade will invest $600,000 in the Greenwood Project, a non-profit organization focused on advancing Black and Latino college students into high-trajectory careers in financial services.
tastytrade’s investment will bolster Greenwood Project’s mission, supporting career-tracked learning opportunities, targeted recruiting, learning technology, and individual coaching for scholars both academically and personally. This funding will enable scholars to access online learning resources during the academic year at universities nationwide, supplemented by live cohort learning experiences. Additionally, Greenwood Project will work closely with tastytrade to leverage their extensive trading expertise, further preparing scholars for careers in trading and finance.
The Cyprus Securities and Exchange Commission (CySEC) announced on Tuesday that multi-asset brokerage firm HYCM (Europe) Ltd has renounced its Cyprus Investment Firm (CIF) license, effective June 10, 2024.
CySEC did not provide a specific reason for HYCM’s decision to relinquish its authorization. However, the regulator has recently observed several brokers voluntarily surrender their licenses, not due to regulatory issues.
A visit to HYCM’s website shows that the company has already removed references to its authorization and supervision by CySEC.
As of June 10, 2024, HYCM is no longer licensed and regulated by CySEC and cannot provide financial or ancillary services. The regulator has given HYCM three months from that date to settle its obligations from the investment services that lapsed, during which time it remains under CySEC’s supervision.
Under Cypriot regulations, HYCM must return all outstanding balances to clients and address all complaints. Additionally, HYCM must provide a confirmation from its external auditor that it has no pending obligations and include details of each client, as per the CySEC announcement.
HYCM is the global brand name for HYCM Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Capital Markets (DIFC) Ltd, and HYCM Limited. These entities operate under the HYCM Capital Markets Group, a global corporation active in Asia, Europe, and the Middle East.
In May, HYCM added the option to invest in top global stocks on its MT5 platform with zero commissions. The brokerage now offers over 1,000 stocks at 1:1 leverage, allowing investors to buy fractional shares for as low as $10 and earn income from dividend-paying stocks.
Global multi-asset broker VT Markets today announces the launch of its #BuiltforWinners campaign. Released across multiple regions, this is the first unified brand campaign by the award-winning forex and CFDs platform.
As part of the campaign, VT Markets will give away exclusive all-access passes for its next racing event. Winners will receive top-notch VIP treatment and a behind-the-scenes look at the upcoming race. Join the raffle at www.builtforwinners.com.
The campaign, presented as a documentary featuring VT Markets spokespeople Ludovic Moncla and Cesar Navarro, draws parallels between the volatile trading landscape and the twists and turns of the racetrack.
“In an environment where split second decisions matter, it is accuracy, coupled with lightning-fast execution that gives you the upper hand,” said Ludovic Moncla, Head of Strategic Operations at VT Markets, “we believe in creating, in this sense, a distinct advantage for our traders in today’s financial arena.”
Running for a couple of months, the campaign is expected to increase VT Markets’ following and interest in its comprehensive services.
Set against VT Markets’ white and blue, the video campaign features Maserati MSG Racing on the Monaco racetrack, showcasing how a powerful vehicle can get you where you need to be.
In April, VT Markets held a three-day event inviting VIPs, partners, clients, and media representatives to a pre-race experience with Maserati MSG Racing’s drivers, Maximilian Günther and Jehan Daruvala.
VT Markets remains committed to crafting experiences within and outside the trading sphere.
TradeStation Securities has integrated with Option Circle, allowing users to access and trade using Option Circle’s suite of tools without needing a separate brokerage platform.
Option Circle, a subsidiary of Trading Circle, is an AI-driven bot platform that provides comprehensive analysis tools and features to retail investors at an accessible price.
Enhancing Advanced Options Trading
The U.S. multi-asset class broker-dealer will enable its clients who subscribe to Option Circle to access automated trading bots, detailed analytics, algorithmic trading strategies, no-code trading algorithms, and a Round Table message board for active engagement and insights sharing.
Option Circle subscribers may also generate income by licensing their trading bots and strategies through the platform.
John Bartleman, President and Chief Executive Officer of TradeStation Securities’ parent company, TradeStation Group, Inc, said: “Advanced options trading is one of our key objectives at TradeStation Securities, and this latest integration with Option Circle is another enhancement to our clients’ trading experience. With Option Circle, our users have an opportunity to incorporate an AI bot platform with advanced quantum-computing capabilities into their trading toolbox.”
Shishu Bedi, President and CEO, Option Circle, commented: “We are thrilled to formalize the collaboration between Option Circle and TradeStation Securities, enabling traders to access our autonomous trading tools, which are guided by proprietary AI-driven bots. At Option Circle, we believe complexity should not be a barrier to trade, so our users don’t have to become experts in options or other asset classes to begin trading.”
TradeStation offers self-clearing equities, options, futures, and futures options brokerage services as a licensed securities broker-dealer and futures commission merchant (FCM).
TradeStation Integrates with OptionsPlay
In April, TradeStation integrated with options analysis platform OptionsPlay, enabling users to subscribe and execute trades directly within the OptionsPlay platform. This partnership streamlines the trading process, providing a more efficient experience. TradeStation clients benefit from customized pricing and access to OptionsPlay’s services, including research, trade ideas, and educational tools.
OptionsPlay assists users in leveraging options in their portfolio by offering strategic decision tools, daily trading signals, market commentary, and opportunity reports. Features include Daily Trade Ideas, Market Updates & Reports, and a focus on community and education.
The platform offers resources like DailyPlay Trade Ideas for optimal entry and exit signals, educational webinars by Tony Zhang, a renowned market strategist, and CNBC contributor, and exclusive members-only content. Additionally, OptionsPlay provides tools for trade analysis with a trade simulator and strategy checklist, allowing users to compare strategies using the OptionsPlay Score and Insights dashboard.
DailyPlays, highlighted as a key feature, provide analyst hand-picked trade signals via email before the market opens, detailing option strikes, expiry, and contract numbers with comprehensive analysis. Rick Bensignor, a former Chief Market Strategist at Morgan Stanley, contributes to these trade ideas, applying a contrarian approach and using DeMark indicators alongside the Ichimoku Cloud for counter-trend strategies.
The OptionsPlay Hub offers various reports, including Daily Liquidity & IV Rankings and Earnings Calendars, facilitating numerous trade ideas for users.
In response to increasing investor demand for more cost-effective trading solutions, FP Markets, a global multi-asset Forex and CFD broker, has further reduced its spreads across various trading instruments.
Christodoulos Psomas, Head of Risk at FP Markets, expressed his enthusiasm for the move and commented, “Through the continuous optimisation of our trading infrastructure, we have successfully lowered spreads on several key instruments. Implementing this change across our platforms has resulted in a more cost-efficient trading environment for all our clients. We remain committed to maintaining and further enhancing these conditions as our goal will always be the delivery of a superior trading experience.”
As part of the broker’s efforts to minimise trading costs for its growing client base, the reduction in spreads applies to a selection of widely traded CFD products, including Spot Gold (XAU/USD), a range of Major and Minor Currency Pairs, as well as major Equity Indices, such as the Dow Jones Industrial Average (US30), the S&P 500 (US500), and the Nasdaq 100 (US100).
The FP Markets website provides a breakdown of the revised spreads and the affected asset classes.
With a selection of over 10,000 CFDs to choose from, combined with low spreads, fast execution, a wide range of world-class Trading Platforms, such as MetaTrader, cTrader and TradingView, as well as a multi-regulated trading environment, FP Markets continues to distinguish itself as the broker of choice for investors across the globe.
The Financial