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The Commodity Futures Trading Commission (CFTC) isrevamping its enforcement structure, prioritizing fraud prevention and victimprotection while moving away from regulation by enforcement. According to an announcement by the watchdog today(Tuesday), this significant shift aims to streamline operations, enhanceoversight, and ensure market fairness without penalizing compliant businesses.Acting Chairman Caroline D. Pham announced therestructuring of the Division of Enforcement, emphasizing that the changes willallow the CFTC to focus on fraud while ensuring fairness in its regulatoryactions. CFTC Boosts Enforcement Programs“The CFTC is strengthening its enforcement program tofocus on victims of fraud, as well as remaining vigilant for other violationsof law. This simplified structure will stop regulation by enforcement and ismore efficient, Pham stated.“These much-needed changes will maximize the CFTC’sresources to bring more actions to pursue fraudsters and other bad actors, andnot punish good citizens.”This transformation will consolidate the division’sprevious task forces into two new units: the Complex Fraud Task Force and theRetail Fraud and General Enforcement Task Force.The Complex Fraud Task Force will overseeinvestigations and litigations related to complex fraud and manipulation acrossall asset classes. Paul Hayeck, the current Deputy Director, will serve as theActing Chief of this task force.The Retail Fraud and General Enforcement Task Forcewill focus on retail fraud and violations of the Commodity Exchange Act, underthe leadership of Acting Chief Charles Marvine, also a Deputy Director.Fighting Rising Financial ScamsCFTC Acting Director of Enforcement Brian Younghighlighted the need for this shift, stating, “Fraudsters are constantlyevolving their tactics to exploit market participants and undermine the rulesthat provide the foundation for a vibrant, resilient, and innovation-forwardmarketplace.”“This taskforce realignment will enhance our vigorousand energetic enforcement program by empowering our talented staff to focustheir expertise on matters that secure justice for victims and uphold publicconfidence in the integrity of our markets.”By streamlining enforcement, the CFTC aims to upholdmarket integrity without stifling legitimate market activity. The focus is nowon pursuing bad actors rather than punishing businesses that adhere to the law.With this shift, the CFTC signals a commitment toprotecting investors, maintaining fair market conditions, and holdingfraudsters accountable. The regulator has encouraged individuals to reportsuspicious activities or possible violations of commodity trading laws.This article was written by Jared Kirui at www.financemagnates.com.
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STICPAY, a global e-wallet provider and payment gateway, hasannounced a strategic partnership with MetaTrader 5 (MT5). The integrationallows brokers using MT5 to process payments through STICPAY’s services.MT5 Brokers Gain STICPAY Payment Access"The global online trading platform market has surgedin recent years as technological advances have made trading accessible to morepeople. We’re excited to be part of this growing sector and especially pleasedto have entered into a partnership with a platform as popular and highlyregarded as MT5," Sean Park, STICPAY CEO, commented. With this integration, brokers on MT5 can use STICPAY’sbuilt-in payments service without additional API integration. Brokers alreadyconnected to MT5 only need to sign a contract to access STICPAY’s e-wallet andits payment aggregator, STIC Direct. Payments will be available on both mobileand online devices.MT5 is an online trading platform that enables users totrade forex, stocks, and futures. It is a product of MetaQuotes and is widelyused, with over 8 million active accounts across more than 180 countries.Traders can register for a demo account directly on MT5, but live tradingrequires a brokerage that offers the platform."We believe the breadth of our payments offering willappeal to brokers on MT5 as it will allow them to cater to a huge number oftraders all over the world," Park added.Online Trading Market Expected to GrowThe online trading platform market was valued at $10.2billion in 2024, according to Grand View Research. The market is expected togrow to $15.6 billion by 2030. The research attributes the rise to an increasein retail investors since the COVID-19 pandemic. It also notes thatcost-effectiveness and AI-driven advancements may contribute to further marketexpansion.STICPAY’s e-wallet allows users to make payments using theiravailable balance. STIC Direct supports multiple payment methods, includingcredit cards, alternative payment methods, local bank transfers,cryptocurrency, and e-wallet payments.This article was written by Tareq Sikder at www.financemagnates.com.
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Finalto is pleased to announce the appointment of Paul Jackson as Joint Head of Sales for EU, UK & LATAM at Finalto.Jackson has deep sales leadership experience in financial markets. He joins Finalto from iSAM Securities, where he was Sales Director, responsible for driving global business growth.Jackson has previous experience with the Finalto organisation. Prior to iSAM Securities, he worked for five years as Sales Director at CFH Clearing, which became part of the Finalto brand in 2021.Strategic Sales LeadershipJackson will head up Finalto’s Sales department alongside Chauncey Boreham, who has been promoted from Senior Sales Director to Joint Head of Sales. Jackson and Boreham will work together to steer Finalto’s Sales strategy. Jackson said: “I’m delighted to be part of such a dynamic sales team. This is a great opportunity to build on Finalto’s ongoing success and help deliver on the company’s strategic vision for 2025 and beyond.”Boreham added: “I’m thrilled to welcome Paul to Finalto. His expertise and experience will be an immediate asset to the Sales team.”Finalto UK CEO Paul Groves said that the new appointments would enhance the Sales Department’s ability to execute.“Chauncey and Paul are consummate sales professionals with extensive market experience. Their guidance will help the Sales team drive ongoing growth, across the markets in which we operate,” Groves said. Finalto is an innovative prime brokerage that provides bespoke fintech and liquidity solutions. Our award-winning technology and expertise enable us to deliver effective, flexible service to a wide range of institutional clients globally, personalised to suit their needs. We deliver best-in-class pricing, execution and prime broker solutions across multiple assets, including CFDs on Equities, Indices, Commodities, Cryptos and rolling spot FX, Precious and Base Metals, and bespoke products such as NDFs. With Finalto, the world’s top markets are under your control.This article was written by FM Contributors at www.financemagnates.com.
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Finalto has appointed Paul Jackson as Joint Head of Salesfor the EU, UK, and LATAM regions. Jackson brings sales leadership experiencein financial markets to the role. He joins Finalto from iSAM Securities, wherehe served as Sales Director, focusing on global business growth.Finalto Appoints Jackson as Sales HeadJackson commented: "I’m delighted to be part of such adynamic sales team. This is a great opportunity to build on Finalto’s ongoingsuccess and help deliver on the company’s strategic vision for 2025 and beyond."Jackson has prior experience with Finalto, having worked forfive years as Sales Director at CFH Clearing before it became part of Finaltoin 2021.Joint Leadership to Oversee SalesJackson will lead the Sales department alongside ChaunceyBoreham, who has been promoted from Senior Sales Director to Joint Head ofSales. The two will collaborate on Finalto's Sales strategy.Boreham added: "I’m thrilled to welcome Paul toFinalto. His expertise and experience will be an immediate asset to the Salesteam."Finalto UK CEO Paul Groves stated that the new appointmentswould strengthen the Sales Department’s operations."Chauncey and Paul are consummate sales professionalswith extensive market experience. Their guidance will help the Sales team driveongoing growth, across the markets in which we operate," Groves commented.Earlier, Finaltoannounced the departure of Group CEO Matthew Maloney. The firm stated thatMaloney is moving on after ten years. While no reason was given, Finaltoacknowledged his contributions, as reported by Finance Magnates.DXtrade Integrates Finalto’s Liquidity SolutionsMeanwhile, DXtrade, the trading platform developed by Devexperts, haspartnered with Finaltoto enhance liquidity provider services for brokers. The integration willgive DXtrade users access to Finalto’s multi-asset liquidity pools, coveringover 3,000 instruments. Finalto’s Groves highlighted the longstanding relationshipwith Devexperts, emphasizing future collaboration. The integration aims toimprove market assessment tools, potentially enhancing trading efficiency.Devexperts recently introduced copy trading features through a partnership withTraders Connect.This article was written by Tareq Sikder at www.financemagnates.com.
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Devexperts, a global software developer for the capitalmarkets industry, has launched a turnkey futures trading platform aimed atbrokers interested in offering futures and options on futures. The platform is available immediately, with the option forout-of-the-box deployment or partial customization.Devexperts Debuts Scalable Futures Trading SolutionThe launch reflects Devexperts' response to growing demandfor futures products, particularly in the US. The company, with a team of 800developers, has over 20 years of experience in developing software for firmsand exchanges globally. Its new platform offers brokers access to futures andoptions on futures contracts via CME and ICE exchanges."A number of international market factors mean we areseeing ongoing interest in futures trading worldwide. This is particularly thecase in the US, however, where the regulatory environment can make derivatives,such as futures, particularly appealing," Ben Hurley, CEO of Devexperts,commented.New Devexperts Platform Features OMS, AlertsKey features of the platform include a real-time ordermanagement system (OMS), automated margin calculations, pre-trade validation,and post-trade monitoring to ensure portfolios are automatically liquidated inthe event of market moves. Brokers can also offer intraday margin discounts andliquidation levels according to their risk management needs.For traders, the platform offers integration withDevexperts’ market data service, dxFeed, which includes real-time Level 1 andLevel 2 quotes from exchanges like CME and ICE. Additional tools includeautomatic alerts, a heatmap tool, and built-in option strategies. The platformis available via web browser and as mobile trading apps for iOS and Android.Devexperts Plans Dubai OfficeMeanwhile, Devexpertsplans to open a new office in Dubai by mid-2025 in response to growingdemand for trading and financial software in the Middle East and North Africa(MENA), particularly in the UAE and Saudi Arabia, as reported by Finance Magnates. Founded in 2002, the company provides software solutions forthe capital markets, including products like DXtrade and DXmatch forbrokerages, banks, and exchanges. This expansion aligns with Devexperts’ globalstrategy, following recent growth in the APAC region and the US.This article was written by Tareq Sikder at www.financemagnates.com.
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FXBO, a premier CRM provider for forex brokers, has announced today their partnership to establish a seamless integration, empowering brokers to expand their market reach and enhance their operational efficiencies with Deus X Pay, a regulated institutional stablecoin payment provider. FXBO - lauded as “The Ultimate Forex CRM” - offers brokerage firms tools for efficient client relationship management, client retention, and acquisition.Deus X Pay’s Chief Commercial Officer, Greg Gardner, expressed his enthusiasm, "This partnership is a significant step forward in our mission to deliver frictionless finance for brokers in the FX industry. By leveraging stablecoins and digital assets, we are reshaping the broader financial landscape through seamless, innovative solutions that enable brokers to drive growth.” What this integration means for FX brokers:● Seamless FXBO/Deus X Pay Integration: Effortlessly enable crypto deposits and withdrawals, fully integrated with FXBO's CRM and back-office platform.● Flexible SDK & Payment Links: Streamlined SDK API integration complements existing deposit methods, while custom payment links allow tailored, efficient client transactions.● Dynamic Payment Flexibility: Built-in overpayment and underpayment tolerances ensure smooth processing, even with slight payment discrepancies.● Uncompromising Compliance: Advanced AML and transaction monitoring ensure brokers receive clean crypto, safeguarding regulatory standards.● Scalable & Cost-Effective: Zero implementation fees, no monthly minimums, and a pay-as-you-go model empower brokers to expand profitably in emerging markets.Dmitriy Petrenko, Chief Executive Officer of FXBO, commented "At FXBO, we’re dedicated to equipping brokers with the tools they need to succeed in a competitive market. Our integration with Deus X Pay represents a significant milestone, enabling our clients to benefit from faster, more secure payment processing solutions.”This partnership sets a new standard for brokers seeking to combine operational efficiency with state-of-the-art payment solutions while bridging the gap between traditional finance and digital payments and ensuring regulatory compliance and innovation go hand in hand.This article was written by FM Contributors at www.financemagnates.com.
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United Fintech has completed the full acquisition ofCommercial Banking Applications (CBA), a provider of API-driven trade financeand payments solutions. The transaction was funded through a mix of equity and debtfrom existing investors, including BNP Paribas, Citi, Danske Bank, and StandardChartered. This acquisition marks United Fintech's entry into the commercialbanking sector.United Fintech Acquires CBA for Expansion"CBA has a proven track record of deliveringinnovative, high-quality solutions that help banks optimize their operations,"Christian Frahm, CEO & Founder of United Fintech, commented. CBA provides technology solutions to banks across Europe andAsia. Its clients include ABN AMRO. The acquisition allows United Fintech tointegrate CBA’s API-based trade finance and payments technology into itsplatform. The company aims to support banks in their digital transformationefforts."Their technology perfectly complements our vision ofbuilding a comprehensive digital ecosystem for financial institutions. WithCBA's talented team and industry-leading expertise, we are well-positioned tostrengthen our digital commercial banking roadmap," Frahm added.Meanwhile, StandardChartered has invested in United Fintech Group Limited. This aligns withStandard Chartered’s strategy to enhance digital solutions in capital marketsand financial services, as reported by Finance Magnates. The investmentincludes Board observer rights and, upon meeting conditions, a rotational Boardseat. Additionally, UnitedFintech has opened a new office in Dubai to support the UAE’s growingfintech sector.Enhancing Platform with CBAUnited Fintech focuses on automation, efficiency, andsecurity in financial technology. The addition of CBA’s capabilities isexpected to enhance its offerings for commercial banks. The company continuesto pursue acquisitions and partnerships to expand its platform.As part of the deal, 15% of the total consideration has beenreinvested into United Fintech shares. This structure aims to keep CBAemployees engaged in the company’s future. United Fintech intends to use itsglobal reach and CBA’s technology to develop solutions for financialinstitutions.Rolf Hauge, CEO & Founder of CBA, expressed hisenthusiasm, commenting: "Joining United Fintech is an exciting newchapter for CBA. Our technology stack aligns seamlessly with United Fintech'sstrategy, and this partnership will enable us to scale our solutions globally."This article was written by Tareq Sikder at www.financemagnates.com.
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Palantir's shares soar on impressive earnings, reflecting AI'spervasive influence and sparking debates over its role in defense.Palantir’s Meteoric Stock Rise: A Sign of the AI TimesIn a move that has tech enthusiasts and investors buzzing, PalantirTechnologies (PLTR) saw its stockskyrocket by over 20% in extended trading on Monday. The catalyst? Astellar fourth-quarter performance in 2024, where the company reported year-over-yearrevenue between $858 million and $862 million, this impressive growth islargely attributed to the surging demand for Palantir’s ArtificialIntelligence Platform which launched early last year. Analysts who oncedismissed Palantir as a government-reliant software firm are now being forcedto reconsider as its artificial intelligence (AI) capabilities continue toexpand.Palantir reports Q4 2024 revenue growth of 36% Y/Y, U.S. revenue growth of 52% Y/Y; Issues FY 2025 revenue guidance of 31% Y/Y growth, eviscerating consensus estimates.U.S. commercial revenue grew 64% y/y and 20% q/q and U.S. government revenue grew 45% y/y and 7% q/q.We… pic.twitter.com/hnqQYL73PL— Palantir (@PalantirTech) February 3, 2025Palantir’s latest earnings report confirmed that its U.S. commercialbusiness alone saw a huge revenue spike, with revenue up 64% and governmentcontracts up 45% year-on-year. The company is no longer just about classifiedPentagon projects—it’s moving deep into the private sector. For investors, thisshift has been a long time coming, as the company's AI tools are now soughtafter by a variety of industries, including finance, healthcare, and supplychain logistics.But while AI’s potential is driving Palantir’s stock price to newheights, it’s also opening a Pandora’s box of ethical and security concerns.AI Everywhere: From Your Playlist to the BattlefieldArtificial Intelligence isn’t just recommending your next Netflix binge-watch;it’s rapidly integrating into every aspect of modern life. From Wall Streetalgorithms to customer service bots, AI is now ubiquitous. But nowhere is thisgrowth more evident—and controversial—than in defense and security.02/03/2025 BREAKING NEWS: Jim Cramer says "I can't recommend GameStop, I can't recommend a meme stock. If you want To meme stock, go buy Palantir." $PLTRInverse Cramer calls it again when $GME closest at its lowest level in 86 days. 🚀 pic.twitter.com/iN8wR4Vkqk— Kevin Malone (@Malone_Wealth) February 4, 2025Palantir has long been embedded in defense contracts, and its Q4 reportreaffirmed this reality. Around 45% of Palantir’s sales came from U.S.government contracts, highlighting its role in security. CEO Alex Karp brought it into clear focus when he claimed last yearthat, Palantir is "responsiblefor most of the targeting in Ukraine."A Double-Edged Sword: The Perils of AI in Defense?While the merging of AI and defense offers enhanced capabilities, italso raises ethical and safety concerns. The idea of autonomous systems makingcritical decisions evokes dystopian fears, reminiscent of sci-fi narrativeswhere machines turn against humanity.The problem? AI doesn’t have emotions, ethical reasoning, or even aclear understanding of human consequences. If you ask an AI-driven militaryprogram how to neutralize a threat, will it pause to consider diplomaticresolutions? Presumably not. While humans are (for now) the ones making thefinal calls, increased reliance on AI for battlefield decisions could blur thelines in the near future.AI ethicists have long warned that this rapid advancement in AI-powereddefense could lead to unintended consequences. Should AI-driven militarysystems malfunction—or worse, be hacked—the risks could be catastrophic. Thelast thing anyone wants is a rogue algorithm making life-and-death decisions.Skynet and Terminators: From Fiction to Potential Reality?Let’s take a moment to revisit The Terminator franchise. In thatcinematic universe, Skynet, an advanced AI system, becomes self-aware anddecides that humanity is the real threat. What follows is a full-blown roboticapocalypse led by cybernetic assassins…
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TLDR: Thedollar reaching its highest levels since November 2022 contributed to increasedinstitutional FX volumes in January 2025. This trend is evident inFxSpotStream's performance, a provider of multibank FX aggregation services,which has once again approached historic maximums.FXSpotStream Reports ADVAbove $101B in DecemberThe totalaverage daily volume (ADV) in January reached $101.2 billion, rebounding fromDecember's lower levels of $91.1 billion. An interesting pattern has emerged:months with higher readings are typically followed by months with significantlylower volumes, as demonstrated not only in December but also in October.Theall-time high (ATH) from September remains unbroken at $101.9 billion, thoughJanuary came remarkably close to surpassing it. Spot ADV, however, did set anew record at $72.8 billion, exceeding the previous record of $72.3 billionfrom November.Compared toJanuary 2024, the growth is substantial, showing a 37% increase from the $73.7billion reported twelve months ago.Othertrading venues have also confirmed positive results. Click 365, the currencytrading platform on the Tokyo Financial Exchange (TFX), reported monthly volumeincreases of 12.5%. In the United States, volumes also grew, with Cboe spotexchange strengthening by 21% and reaching $1.04 trillion with an ADV of $47.45billion.New Liquidity ProviderAustralia’sANZ Bank has entered a partnership with FXSpotStream to expand its wholesaleforeign exchange liquidity services. Under the deal, ANZ becomes one of 17global liquidity providers on the multibank FX aggregation platform, joininginstitutions such as Bank of America, JPMorgan, and Barclays.The move isexpected to enhance ANZ’s presence in Asia-Pacific FX markets while supportingFXSpotStream’s strategy of eliminating execution costs for price takers.Separately,FXSpotStream Europe Ltd—covering the EMEA region—reported strong financialresults. According to a filing with the UK’s Companies House, thecompany recorded a turnover of $3.5 million, up 40% from $2.5 million in theprevious year. Net profit surged by more than 60%, marking another consecutiveyear of growth and reflecting the platform’s continued expansion in global FXmarkets.This article was written by Damian Chmiel at www.financemagnates.com.
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Interactive Brokers delivered a solid performance inJanuary 2025, highlighted by a surge in key brokerage metrics. The firmreported a 58% year-over-year increase in Daily Average Revenue Trades (DARTs)and significant growth in client equity and margin loans. Interactive Brokers' January 2025 performanceshowcased several key areas of growth, highlighting its expanding client baseand increased trading activity.The company reported 3.473 million DARTs, a notable 58% rise compared to January 2024. Thisfigure also represents a 6% month-over-month increase, signaling consistentperformance in the company's trading volumes.Brokerage Metrics Highlight Strong GrowthThe firm's client equity reached an impressive $591.4billion, marking a 39% increase from the previous year. This growth suggests a rising number of clients and a robust increase in the size ofclient portfolios. Additionally, client margin loan balances grew by 47%year-over-year to $64.9 billion, indicating stronger engagement in margintrading. Interactive Brokers also reported growth in client credit balances,which rose 17% year-over-year to $120.4 billion.Included in this figure is $4.7 billion held ininsured bank deposit sweeps. The firm's client base expanded significantly,with the total number of client accounts reaching 3.45 million, a 31% increasefrom the prior year.In terms of trade execution, the average cleared DARTsper client account stood at 223, demonstrating solid engagement across theboard. The company's average commission per cleared Commissionable Order was$2.59, with product-specific details revealing average order sizes andcommissions for stocks, equity options, and futures. Notably, the average commission for stocks was $1.87per order, while equity options and futures saw commissions of $3.71 and $4.07,respectively.Global Value and Other Financial InsightsThis figure compares favorably to the 4.0 basis pointsaverage over the previous twelve months, reflecting the firm's competitive edgein executing trades efficiently. The value of IBKR's GLOBAL remained relatively flat,showing a minor decrease of 0.01% in January. With a growing client base, enhanced financialservices, and robust trading metrics, Interactive Brokers has clearlyestablished itself as a key player in the competitive electronic brokeragespace. Overall, January 2025 marks a strong start to the yearfor Interactive Brokers, driven by growth in both client activity and overallassets under management. This article was written by Jared Kirui at www.financemagnates.com.
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CVC Asia Fund IV has agreed to sell OANDA Global Corporationto FTMO Group. The deal is subject to regulatory approvals. The financial termswere not disclosed.OANDA, founded in 1996, provides a digital trading platformfor retail and corporate clients. It offers multi-asset trading, currency data,and analytics. The company operates in major financial hubs, including NewYork, London, and Tokyo.OANDA Transforms Under CVC, FTMO Acquisition"The team have taken OANDA from a regional foreignexchange provider to a fully diversified offering, whilst building upon itshistoric strengths in regulatory compliance and best-in-class customer support.We would like to thank the entire team at OANDA for their efforts,” SiddharthPatel, Managing Partner at CVC, said.Since 2018, OANDA has expanded under CVC Funds. Itintroduced new products, established a back-end office in Poland, and developeda mobile trading platform."We thank CVC for their confidence in us and support ofour mission of transforming OANDA into the global leader it is today. We areexcited to continue delivering on our strategy under FTMO’s ownership," GavinBambury, CEO of OANDA, commented.FTMO Welcomes OANDA's Management"We are delighted to welcome OANDA’s existing managementteam, whose track record in complex, regulated markets, strong expertise inrisk management and customer-centric philosophy fully complements FTMO’s ownvision and strategy," Otakar Šuffner,FTMO's co-founder and CEO,and Marek Vašíček, FTMO's co-founder andCTO, commented. FTMO, based in the Czech Republic, provides educational andtraining services for traders. It plans to keep OANDA as a standalone business.They added: "We look forward to building together aunique, comprehensive trading powerhouse group of companies that has notexisted in the market until now."Nomura and Santander advised CVC, while Milbank (Hong Kong)LLP provided legal support. J.P. Morgan advised FTMO, with legal counsel fromLatham & Watkins LLP.This article was written by Tareq Sikder at www.financemagnates.com.
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Global, multi-regulated online FX and CFD brokerage, INFINOX Capital Ltd (INFINOX) has today announced a leadership transition as Jay Mawji will transition from his role as the Chief Executive Officer of INFINOX, after 15 years of dedicated service, into a Board Advisory role; where he will focus on providing strategic guidance and working with key stakeholders and commercial relationships.Reflecting on his tenure, Jay stated:“Leading INFINOX has been an extraordinary privilege. Over the past 15 years, I have had the honor of working alongside some of the most talented professionals in the industry. Together, we have achieved significant milestones and navigated challenges that have strengthened the firm. As I transition into an advisory role, I remain committed to supporting INFINOX’s strategic objectives and ensuring its continued success.”Lee Holmes, representing INFINOX’s Executive Management, acknowledged Jay’s contributions, saying:“Jay has played a pivotal role in shaping INFINOX into the respected global brokerage it is today. His leadership has laid a strong foundation, and as we move forward, we remain committed to the company’s core values of integrity, ambition, excellence, and innovation. We are grateful that Jay will continue to provide his expertise as an advisor and look forward to the next phase of growth and opportunity.”INFINOX remains dedicated to delivering the highest standards of service to its clients and partners worldwide. This transition marks an evolution in leadership, reinforcing the company’s ongoing commitment to innovation and excellence in the global financial markets.About INFINOXINFINOX is a market-leading, multi-regulated online brokerage, providing clients with access to a wide range of CFD trading opportunities. Founded in 2009, the firm is built on strong partnerships and a commitment to world-class service.This article was written by FM Contributors at www.financemagnates.com.
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Memecoin Dogecoin (DOGE) took a sharp hit today (Monday),dropping 13% and 21% in the daily and weekly charts, respectively. The bearishsentiment comes as broader market volatility weighs on the cryptocurrencysector. The top three cryptocurrencies, Bitcoin, Ethereum, andXRP, have posted a 3%, 15%, and 13% decline, respectively, in the daily chart.Interestingly, DOGE's technical price analysis shows a bearish momentum,although the price could rebound before any further downtrend.Bearish Market Sentiment According to TradingView, the memecoin currentlytrades below key important price levels, $0.4039 and $0.3157. Although theprice is below the 50 and 200 moving averages, DOGE is currently oversold, with a Relative Strength Index of 28.Depending on market sentiment, DOGE could test lower price levels if the current price level does not hold. The next support levels are $0.2165 and $0.1759. Dogecoin's price woes coincide with a broader cryptomarket downturn triggered by macroeconomic concerns following Donald Trump's new tariff policies. The market shed over 6% in capitalization as tradersreacted to the latest developments. Meme coins, which often experienceheightened volatility, have been among the hardest hit, with Dogecoin nowleading the losses.Adding to the bearish outlook, large DOGE holdersoffloaded approximately 270 million tokens within a 24-hour period, accordingto renowned popular crypto market analyst Ali Martinez.Whales sold 270 million #Dogecoin $DOGE in the last 24 hours! pic.twitter.com/UZfpjUGXDe— Ali (@ali_charts) February 2, 2025Elon Musk's InfluenceDogecoin has long been associated with Elon Musk,whose social media activity has frequently influenced its price. His growingrole in the Trump administration adds another layer of political uncertainty,particularly as Musk's team has recently gained access to the Treasury'spayment system. The Department of Government Efficiency, an initiativespearheaded by Musk under Trump's directive, was granted access to the federalpayment system, the New York Times Reported. Treasury is the most significanttarget due to its control over payments, raising concerns about potentialmisuse of sensitive financial information.While the Treasury Department insists that no paymentshave been blocked, the broader impact on financial markets remains to be seen.While Dogecoin's recent drop has shaken investor confidence, the next moveswill likely depend on broader market conditions and whether buying pressurereturns. If whales continue selling and technical indicatorsremain bearish, the meme coin could face further downside. However, historicalpatterns suggest that DOGE has a tendency to rebound after sharp corrections,leaving room for potential recovery.This article was written by Jared Kirui at www.financemagnates.com.
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Italy's data protection authority, the Garante, has orderedDeepSeek to block its chatbot in the country. The decision follows the Chinesestartup's failure to address privacy concerns. The Garante questioned DeepSeekabout its data collection practices, including the sources, purposes, and legalbasis for gathering personal data.Meanwhile, DeepSeek AI, known for predictive analytics, usesmachine learning and sentiment analysis. The platform recently releasedprojections for XRP and Bitcoin in 2025, which made many crypto enthusiastsvery optimistic about the crypto market.DeepSeek Blocked by Italy over Data PrivacyThe regulator emphasized the importance of protectingItalian users' data. Despite DeepSeek's claim that its AI models rival thosefrom the United States, the Garante issued an immediate block. The ordercoincides with investigations by data regulators in Ireland and France,reported by Reuters.Giorgia Meloni, the Prime Minister of Italy, said, "Italy was the first country to ban DeepSeek. I hoped that other Western countries, especially the United States, would follow suit. But I didn't expect that I'd end up being 'left alone'. " Right after she said this, Meloni… pic.twitter.com/hjeqsRqxdK— 雁过留声 (@szygls) February 3, 2025DeepSeek removed its AI assistant from Italian app storesbut argued it should not be subject to local regulation. Agostino Ghiglia ofthe Garante remarked that DeepSeek's response worsened its position. Ghigliainsisted on the need for user consent based on clear data usage information.The Garante is known for its proactive stance on AI. Itpreviously banned Microsoft-backed ChatGPT over privacy concerns. Despite theblock, some Italian users report continued access to DeepSeek's chatbot. Theweb version remains operational.DeepSeek Outlines 2025 Crypto Price ScenariosDeepSeek AI analyzed Ripple's legal situation, ODL platformadoption, and market trends to predict that XRPcould trade between $3.50 and $5.00 by the end of 2025. A positive outcomein Ripple's legal case could boost investor confidence and institutionaladoption, with a 70% probability of success, as reported by Finance Magnates.For Bitcoin, DeepSeek AI outlined three scenarios: a basecase range of $100,000 to $150,000, a bullish scenario of $350,000, and a peakof $500,000 in a black swan event.Recent market activity, such as Bitcoin’s 5.74% rebound to$103,000, reflects the influence of global economic factors. DeepSeek AI’soptimistic projections for both XRP and Bitcoin suggest confidence in theirlong-term potential.To prevent any potential harm, we reiterate that @deepseek_ai is our sole official account on Twitter/X.Any accounts:- representing us- using identical avatars- using similar namesare impersonations.Please stay vigilant to avoid being misled!— DeepSeek (@deepseek_ai) January 28, 2025Unauthorized DeepSeek Tokens Surge Amid AI HypeUnauthorized cryptocurrency tokens using the DeepSeekname have appeared on several blockchain networks, with one token brieflyreaching a market capitalization of $48 million, despite warnings from thecompany.This surge coincides with DeepSeek's rise in the AI sector,which has contributed to broader market instability, including Bitcoin dropping below $100,000 and XRP testing monthly lows.The primary fraudulent token, launched on the Solanablockchain, generated $150 million in trading volume and attracted over 22,000wallet holders. DeepSeek has denied any connection to cryptocurrency projectsand cautioned users about potential scams. Another fake token also gainedtraction, reaching a $13 million market cap before declining.This article was written by Tareq Sikder at www.financemagnates.com.
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Established online brokerage CentFx is celebrating an award-winning start to the year, marking its recent achievements with the launch of several innovative new offerings, further strengthening its position as a leading industry player.Since its inception in 2022, CentFx has quickly developed a strong reputation as a reliable multi-regulated broker, trusted by traders worldwide, with the firm being built on its founding principles of trust, quality and reliability.The company’s stellar performance has been marked by several notable milestones, including receiving a prestigious award at the UF AWARDS MEA 2025 and its successful attendance at the recent iFX EXPO Dubai 2025.Leading the way in MEAKickstarting the year on a successful note, CentFx was a proud recipient of a much-coveted industry award, being recognised for the exceptional progress it has made in the Middle East and Africa (MEA) region.Within the luxurious surroundings of the Dubai World Trade Centre, the broker was awarded “Fastest Growing Broker - MEA” at the UF AWARDS MEA 2025 ceremony which took place on 15 January during the iFX EXPO Dubai 2025 event.This new award is the latest in a long line of achievements for CentFx, reflecting its exceptional growth trajectory, dedication to client satisfaction, and continued innovation in the financial sector. It is also a testament to the hard work put in from its talented team in expanding the company’s local presence and providing all traders with a superior trading experience.Aside from this recognition, the broker enjoyed a successful appearance at the Dubai exhibition, which is widely regarded within the online trading community as being one of the region’s leading B2B and B2C expos. As an exhibitor, the firm presented its impressive range of cutting-edge trading products, tools, and services to traders and affiliates, including its customisable account features, innovative social trading option, and attractive multi-level affiliate program.Introducing CentXchangeBuilding on its recent, award-winning successes, CentFx has announced the launch of Centxchange, a brand-new cryptocurrency exchange platform which enables users to buy, sell, and trade a variety of digital assets securely and efficiently. Offering real-time trading on the world’s most popular digital assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Binance Coin (BNB) and many more, the platform presents an array of advanced options to traders, such as peer-to-peer (P2P) trading and spot trading.Uniquely created by the team behind CentFx, this new exchange features the latest in advanced security measures, including two-factor authentication (2FA), Google Authentication, and encryption protocols, ensuring that a trader’s assets and data remain safe at all times.Through its user-friendly portal, traders are able to access their funds quickly and easily via the ‘Wallet’ section, while also allowing account holders to manage multiple trades at the same time through the stacking feature.Centxchange offers a comprehensive ‘Market Overview’ section featuring a set of helpful tools to track the top gainers, losers, and discover new listings. Its advanced charting and real-time data make it easy for users to monitor market trends.This new offering complements CentFx’s vision for financial excellence by giving traders a one-stop destination to trade crypto with ultimate convenience from wherever they are via the Centxchange app and website.A seamless crypto-to-cash solutionContinuing on the theme of crypto, CentFx is further enhancing the user experience through CentPay, an effective crypto-to-cash solution which lets card holders seamlessly convert and spend their cryptocurrencies with a Mastercard. This state-of-the-art method allows users to deposit crypto assets (starting with USDT), giving them the opportunity to enjoy immediate spending power at millions of locations worldwide – without any hidden fees or complicated processes.CentPay bridges the gap between cryptocurrencies and traditional…
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A legal battle is brewing over the US Treasury’sdecision to grant Elon Musk’s Department of Government Efficiency (DOGE) accessto sensitive financial and personal data. The American Federation of Labor and Congress ofIndustrial Organizations (AFL-CIO) has reportedly sued the Treasury, allegingthe department unlawfully shared confidential details of millions of Americans.Government Oversight Concerns The lawsuit raises concerns about privacy, governmentoversight, and Musk’s growing influence in federal operations. The AFL-CIO, thelargest union group in the United States, filed the lawsuit in a Washington,DC, federal court, targeting the Treasury Department and Secretary ScottBessent.Let us be clear—Elon Musk’s hacking of government systems is a blatant violation of the law and massive security breach. This suit was filed yesterday.https://t.co/hEURsehzlC— Rep. Melanie Stansbury (@Rep_Stansbury) February 4, 2025The complaint accuses the government of a “systematicand continuous disclosure” of personal financial records to Musk and DOGE.Union leaders argue that Americans who submit financial details to thegovernment should not have their information exposed to private entities withno legal oversight.The controversy has sparked a broader politicaldebate, with top Democratic leaders, including Senate Majority Leader ChuckSchumer and Senator Elizabeth Warren, reportedly condemning the data-sharingarrangement. Schumer announced plans to introduce legislation thatwould curb unauthorized access to Treasury payment systems. Warren echoedconcerns, stating that the system is now vulnerable to Musk’s influence. The lawsuit referenced a post from Senator Ron Wydenon Bluesky, in which he claimed sources informed him that DOGE had been granted“full access” to the Treasury’s payments system. This system contains the names, Social Securitynumbers, home addresses, email addresses, and bank account details of millionsof Americans. Wyden had previously demanded an explanation from Bessentregarding Musk’s DOGE access.DOGE Price PerformanceThe controversy has also rattled the cryptocurrencymarket. Dogecoin (DOGE), often associated with Musk, has recorded a nearly 15%decline in the weekly chart,t trading at $0.2764 at the time of publication. The sell-off coincided with broader crypto marketturmoil, with Bitcoin, Ethereum, and XRP also attempting a recovery after astring of losses. Technical indicators suggest that DOGE remains in bearishterritory.Musk’s influence over Dogecoin’s price has long been atopic of debate, with his social media activity frequently driving pricefluctuations. Now, his political role adds another layer of uncertainty,particularly as his team’s involvement in Treasury matters raises concernsabout financial oversight.Despite the Treasury’s assurances that no paymentshave been blocked, questions emerged about the extent of DOGE’s authority andits impact on federal financial operations.This article was written by Jared Kirui at www.financemagnates.com.
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After nearly six years at the charting and analysisfirm TradingView, Pierce Crosby is moving on to his next venture. The formerGeneral Manager of TradingView announced his departure to launch Merchant Seven(M7), a consulting firm focused on accelerating growth for early-stagetechnology companies. "M7 provides a fractional, high-impact team andoperational systems to help businesses move faster without the burden offull-time exec hires, Crosby posted on LinkedIn today (Tuesday). "Why now?TradingView is in good hands, and the early-stage ecosystem is evolvingrapidly. The right expertise at the right time is the perfect catalyst."Fintech and Tech ExpertWith a decade of experience in fintech and tradingtechnology, Crosby is now shifting his expertise toward helping startups scale.According to his post, Merchant Seven (M7) is designed to offer strategicguidance and operational support to growing tech firms.M7 reportedly provides a "fractional, high-impactteam" to help businesses move forward without requiring full-timeexecutive hires. The firm is already working with five clients and plans toexpand its team this spring. "We're launching with five clients already onboard and expanding our team this spring to take on more. If you're buildingsomething ambitious and looking for support, drop us a note."Crosby highlighted the evolving early-stage startupecosystem as a key reason for launching M7. By offering specialized consulting,M7 now aims to streamline growth processes and enhance operational efficiencyfor emerging companies. Teaming Up with Former ColleaguesCrosby isn't embarking on this new venture alone.Joining him at M7 are two former TradingView colleagues, Milana Ruchkina.Ruchkina, previously the US Growth Director at TradingView, will serve as Chiefof Staff at M7."I've joined the Merchant Seven team to continuepursuing that vision and passion. My focus will be working with early-stagecompanies to help their dreams come true too!," Ruchkina wrote. Crosby's tenure at TradingView began in 2019, where heplayed a crucial role in expanding the platform's influence, particularly amongretail FX and CFD brokers.Before that, he spent five years at StockTwits invarious leadership roles, including VP of Revenue Strategy and Head of BusinessDevelopment.This article was written by Jared Kirui at www.financemagnates.com.
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Over the past years, banks have faced many challenges – fromdeclining revenues from traditional business lines and intensifying competitionfrom fintech and tech giants to the never-ending struggle to modernise legacyinfrastructures. Banks are pushed to seek new revenue streams to bolster theirbottom lines. And there's one area that they've long abandoned but that nowlooks especially promising for boosting revenues: online acquiring.Fintech Competition Drives Banks from Online AcquiringOnline acquiring is the process through which businessesaccept payments for goods and services online, facilitated by acquiring banksor payment processors. This system allows merchants to process credit and debitcard transactions, enabling them to sell products online efficiently.There were several reasons why banks began to withdraw fromoffering online acquiring services. For one, it was costly and complex for themto establish and maintain their own payment-acquiring systems. Banks relying onlegacy systems just couldn't keep pace with the rapidly changing e-commercedemands, which came with new system requirements. As specialised providers andfintech companies emerged, banks found it increasingly difficult to justify theinvestment required to maintain this business. So, they chose to drop onlineacquiring and focus on core banking services.Returning to Online Acquiring: A Strategic MoveNowadays, the online acquiring market presents an attractiverevenue opportunity for banks again. E-commerce sales are steadily growing,taking an increasing share of the sales pie. Globally, online sales areestimated to surpass $5.3 trillion in 2026. Moreover, open banking hastriggered new transaction types, such as account-to-account payments andrequest-to-pay systems. In some regions, these innovations are growing at afaster rate than traditional payment methods like cards or digital wallets. Thisrapidly expanding digital commerce landscape poses new revenue opportunitiesfor banks.Some major retail banks, such as Barclays in the UK, havealready returned to online acquiring. This strategy has proven successful,particularly through its Barclaycard merchant services – in Q3 2023,Barclaycard UK saw a 9% increase in acquiring volume compared to 2022.It's also worth mentioning that Barclays has recently placedgreat focus on integrated digital solutions and APIs that enable quickerpayments and streamlined treasury operations. This further improves e-commerceexperiences for businesses, allowing Barclays to attract more merchants totheir platform. This, in turn, leads to increased transaction volume and higherrevenue for their online acquiring business.In this 1Q 2025 Bank Director magazine article, some of the more experienced #acquirers in the industry talk about their #strategies & how to make an acquisition work.https://t.co/10d3oDhMsr @BankDirectorEd pic.twitter.com/wW0yWhEWY7— Bank Director (@BankDirector) January 8, 2025Fierce Competition Challenges Banks in Online AcquiringBanks are well-positioned to capitalise on online acquiring.They have the necessary financial resources, regulatory expertise, andtechnical knowledge to succeed. No less important – banks have long-standingrelationships with merchants and enjoy a high level of trust from bothbusinesses and consumers.Then, there's the “but.”The online acquiring market has changed and evolved sincebanks left this space. Today, banks face stiff competition from establishedonline acquiring companies (think Adyen or Stripe), as well as smallerfintechs. These competitors have built their businesses around seamlesscustomer experiences, which has allowed them to capture significant marketshare.So, now what?How to Catch a Moving TrainBanks have to find a way to enter or re-enter the highlydeveloped online acquiring market. And there are a number of options to do it.They can build an in-house gateway from scratch. But that'san expensive and time-consuming process many may not have the luxury to pursue.Alternatively, they can outsource to a third-party online acquiring…
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A trade war between global economic giants may bebrewing amid the uncertainty surrounding Trump’s new tariffs. Just hours before sweeping tariffs were setto take effect, President Donald Trump announced a 30-day pause on new tradeduties targeting Mexico and Canada, CNN reported. The decision followed direct talks with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum, who reportedlypledged enhanced border security measures. While North American businesses sighed in relief, thereprieve does little to calm escalating tensions with China, which hasretaliated with tariffs and trade restrictions of its own.North American Tariffs on HoldTrump's initial proposal included a 25% tariff on allMexican imports and most Canadian goods, with a 10% carve-out for energyproducts. These tariffs, announced over the weekend, have sparked marketvolatility and pushback from both trading partners.pic.twitter.com/SWZtSm6NMX— Donald J. Trump (@realDonaldTrump) February 1, 2025Canada swiftly responded with its own retaliatorymeasures, while China vowed countermeasures in response to separate US tariffstargeting Chinese goods. Trump framed the pause as an opportunity fornegotiations, stating that discussions would be led by senior US officials,including Secretary of State Marco Rubio and Treasury Secretary Scott Bessent. While Mexico and Canada secured a temporary reprieve,China found itself at the center of an escalating trade battle. Beijing swiftlyimposed tariffs on a range of US imports, including coal, liquefied naturalgas, and agricultural machinery, according to a separate report by the CNN. Additionally, China introduced export restrictions onkey industrial metals like tungsten and tellurium, which are critical fordefense and technology industries, Reuters reported. The Chinese government also launched an anti-monopolyinvestigation into Google and signaled potential sanctions against US companiessuch as PVH Corp and Illumina.⚠️ JUST IN:*CHINA SLAPS TARIFFS OF UP TO 15% ON SELECT U.S. IMPORTS STARTING FEB. 10🇨🇳🇺🇸 pic.twitter.com/inrzXMOhWZ— Investing.com (@Investingcom) February 4, 2025Market Reaction and Economic ImpactThe financial markets responded sharply to the tariffuncertainty. The Dow Jones Industrial Average reportedly tumbled nearly 600 points at theopening bell before partially recovering on news of the North American tariffpause. Crude oil prices also dipped following China'sretaliatory measures, while the US dollar strengthened against the Chinese yuanand Mexican peso.There are fears that if the North American tariffs areeventually enforced, they could push Canada and Mexico toward recession whiledriving up prices for US consumers on cars, lumber, and gasoline. The potential for further tariffs against China andEurope adds to the uncertainty, with investors closely watching for any signsof diplomatic breakthroughs.This article was written by Jared Kirui at www.financemagnates.com.
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The recent acquisition of OANDA by FTMO marks a significant shift in the retail trading industry. It highlights how traditional brokers who fail to innovate risk losing market dominance. This unprecedented move represents the first instance of a prop trading firm acquiring a major retail broker, inverting the usual industry pattern.OANDA Legacy vs. FTMOInnovationOANDA, once a powerhouse in the retail trading space due to its strong regulatory standing across seven Tier-1 jurisdictions, gradually lost market momentum under CVC's ownership. Despite maintaining high trust among retail traders, the broker struggled to keep pace with evolving market demands, particularly in pricing competitiveness.Since 1996,OANDA has been considered one of the leaders and pioneers in online trading,including CFDs. In 2018, it was acquired by CVC Capital Partners, a fundmanaging nearly $200 billion. Although initially it was suggested that therewould be no changes in the company's leadership, the then-CEO Vatsa Narasimhawas demoted to Non-Executive Director, ultimately leaving the company inJanuary 2020.What was once one of the top three brokerage firms worldwide was reportedly weakened by the fund’s management. Coupled with rising competition, this resulted in the firm’s gradual decline. The company attempted to save itself by acquiring TMS, Poland's second-largest broker, in 2020, which was finalized in 2021. However, this did not provide sufficient momentum for further growth, especially since XTB had become the dominant player in the local market.Meanwhile,FTMO, which started in 2015, has been growing steadily. The Czech prop firm hasbecome so large and confident that it decided to acquire OANDA from CVC for itspurposes. The potential benefits from this acquisition could be substantial.When a Prop Firm Acquiresa BrokerFTMO'sacquisition strategy appears well-calculated, targeting OANDA's robustregulatory framework while planning to operate it as a standalone business. "Propfirms are a good sales channel for CFD brokers. So, OANDA will be able toleverage the FTMO business to drive new traders into their brokerage,”commented Ryan Nettles, the COO of Fuze Traders, a prop trading company from Switzerland,backed by Guru Capital."We will continue to see more prop trading firms acquiring,establishing or partnering with CFD brokers as prop trading firms are goodsales channels for brokers."Finance Magnates has learned through insider discussions that this move isn'tabout acquiring a brand, but rather about securing established regulations andthe expertise of people who know how to manage these regulations. OANDA holdslicenses in the USA, where obtaining local market licenses is notablychallenging."Byacquiring OANDA, FTMO basically gains access to a team that knows how tonavigate a lot of these challenges—regulation, getting licenses—it's likehaving a seasoned guide in one of the trickiest markets in the world,"commented Kathy Lien from BKTraders.Furthermore,running a prop trading business becomes much easier when having a fullylicensed FX/CFD broker in the portfolio. As Lien from BKTraders pointed out, alicensed broker can directly access liquidity providers and interbank markets,eliminating the need for third-party companies. This enables immediateexecution of hedging positions and better control over trading costs andspreads.A keyfactor could also be the intention to attract clients from other markets.Similar Web data, which may not be entirely precise but can still indicategeneral trends, show that a significant portion of OANDA’s traffic comes fromthe United States (91% for OANDA vs. 9% for FTMO). Moreover,monthly traffic figures suggest that OANDA remains a slightly more popularbrand than FTMO, by a margin of roughly 30% in favor of the broker.Prop Trading Industry'sPain Points in 2024Traders arebecoming increasingly successful, generating substantial costs for prop tradingfirms, which has led to the downfall of many such companies. In 2024 alone, 40such businesses have ceased operations. OANDA's…
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Brokers and traders demand the most efficient, flexible, and scalable solutions in 2025. This is where B2CORE comes in, providing a comprehensive user experience and leading SaaS solution that brokers need to function and grow. The advanced client management system checks off the right boxes for all users, offering a robust tool for all trading needs and preferences, and can be seamlessly integrated into any tech stack.B2CORE offers a complete ecosystem for brokerage firms, combining a powerful CRM, back-office management, and trader-friendly tools in one platform. With customizable dashboards, automated KYC processes, and risk management features, brokers can streamline operations while providing a better experience for their clients. How can your brokerage and your clients benefit from B2CORE?Whether you’re a startup or an established firm, B2CORE’s solutions give you the flexibility to grow, adjust, or meet any challenge or goal. Join this upcoming live webinar that will cover how the landmark B2CORE platform helps businesses scale, improve efficiency, and enhance trader engagement. Register for the webinar today!What to Expect from the Live WebinarHosted by Finance Magnates, the webinar will feature Ivan Navodniy, Chief Product Officer at B2CORE, taking place on February 19 at 14:00 (GMT+2). Explore all that B2CORE has to offer for both brokers and traders and how to get the most out of any SaaS solution.Brokers require the most advanced tools to scale in 2025. Whether you are a newly launched brokerage or an established industry leader, B2CORE has something for your business to streamline its operations, maximize its revenue, and reach its goals. Attendees can learn how B2CORE helps brokers with its easy user onboarding and smooth financial operations. This also includes which practical tools are on offer to activate and retain traders, with a sneak peek at upcoming features that will improve business performance.Webinar attendees can hear from Mr. Navodniy and participate in a live Q&A for any queries they may have. This is one discussion you cannot afford to miss, with 2025 already shaping up as an important year in the brokerage space.About B2CORE B2CORE is a globally recognized and trusted CRM solution for brokers and exchanges. The advanced platform continues to change the way financial services are delivered through multiple updates and new utilities. Designed to empower financial companies and streamline their operations, B2CCORE platform's enhancements bring a higher level of functionality and efficiency for clients.This article was written by FM Contributors at www.financemagnates.com.
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XRP lostnearly 40% during Monday's session, dropping to its lowest levels sinceNovember, only to recover and close up 5% by the end of the day. Thisvolatility was triggered by Donald Trump's announcement of 25% tariffs onMexico and Canada, which he later temporarily withdrew.Thenew-again U.S. president shook global markets, including cryptocurrencies,leaving a notable hammer formation (or bullish pin bar) on XRP's chart,demonstrating how strongly buyers rejected attempts to fall below thepsychological $2 level.In thisarticle, we explore why XRP is going up and whether its price will reach newall-time highs, presenting the latest technical analysis and XRP priceprediction for 2025.Why XRP Fell andRebounded: Trump's Tariffs Shake MarketsOn Sunday,Donald Trump announced 25% tariffs on neighboring Canada and Mexico, with newregulations set to take effect on Tuesday. He also suggested similar fees mightbe imposed on the EU.Thistriggered massive panic across markets, from currencies and commodities tostocks and cryptocurrencies. Bitcoin dropped sharply, testing yearly lows,while altcoins followed suit. XRP led the decline with over 30% losses, whileEthereum (ETH) fell more than 20% and Dogecoin (DOGE) dropped 25%.However,Trump later backtracked from his initial announcements, stating that tariffsmight be suspended for a month if border controls are increased to combatmigration.Why Is XRP Price Up Today?Followingthis turmoil, XRP's price first plummeted by almost 40% on Monday to just$1.77, its lowest since November, before ultimately ending the day at $2.7, upapproximately 5%.Althoughtoday (Tuesday, February 4, 2025), XRP's price is slightly declining to $2.49,it has managed to recover a significant portion of its sudden losses from thebeginning of the week.Themaintained tariffs on China prevented a green candle from forming on today'schart. Trump's actions caused considerable devastation in crypto markets,triggering cascading liquidations of leveraged positions. While losses havedecreased, they still total $544 million over the last 24 hours, affecting bothshort and long positions. XRP saw liquidations of longs worth nearly $19million and shorts worth almost $13 million.Major Hammer Formation onXRP Chart: Technical AnalysisA bullishcase for XRP in the coming days and weeks is supported by the candlestickformation that appeared on Monday's daily chart. We observed a very long lowerwick with a short body, clearly rejecting the lower boundary of theconsolidation drawn since November and the psychological $2 level.Thisindicates buyers are ready to defend this level and accumulate XRP at localbottoms. Bullish momentum could soon drive the price back to around $2.90,where early December highs are located.Breaking above this level would openthe path to the upper boundary of the current consolidation and XRP's previousATH at $3.40.The bullishscenario would be invalidated by a drop below the mentioned $2 support andbreach of the 200 EMA. This would signal bears returning to control,potentially pushing XRP's price to $1 or lower.XRP Price Prediction: DeepSeekAI Predicts XRP to Reach $5 DeepSeekAI, a predictive analytics platform, has entered the conversation on XRP’soutlook for 2025. Using machine learning, sentiment analysis, and economicdata, the service aims to offer forward-looking perspectives on various digitalassets.Itsprojections suggest that XRPcould trade between $3.50 and $5.00 by late 2025. The model assigns a 70%chance that a favorable outcome in Ripple’s legal proceedings will bolsterinvestor sentiment and encourage institutional adoption. Meanwhile,expanded use of Ripple’s On-Demand Liquidity platform by financial institutionscould further elevate XRP demand. Broader market sentiment, especially trendstied to Bitcoin’s performance, along with global economic factors, is alsoexpected to shape XRP’s price trajectory.XRP Price, FAQWhy is XRP increasing?XRP’srecent price upswing is largely attributed to a rapid sell-off and subsequentrecovery triggered by Donald Trump’s tariff…
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The SiliconValley-based currency technology provider Integral has secured another bankingclient as Access Bank Nigeria adopts its foreign exchange (FX) solutions toenhance currency trading capabilities and support regional expansion acrossWest Africa.Access Bank Nigeria TapsIntegral for FX Tech Upgrade TheNigerian banking leader has deployed Integral's suite of FX solutions,including advanced liquidity aggregation, pricing engines, and distributiontools. A key feature of the implementation enables Access Bank to white-labelits FX services to affiliate banks and provide branded trading interfaces topartners across its growing regional network.Thetechnology upgrade comes as Access Bank seeks to strengthen its position inWest Africa's competitive banking landscape. The new platform allows forseamless integration with existing systems while providing enhanced FX tradingcapabilities to corporate clients and banking affiliates.“Theoptimized pricing and distribution facilitated by this partnership will enableAccess Bank Nigeria to elevate its FX trading and deliver improved service forclients,” said Harpal Sandhu, CEO of Integral, a Palo Alto-based fintech thathas been developing currency trading technology since 1993.“As thebank continues to demonstrate its position as a leader in both Nigeria and thewider West African region, we’re proud to support its continued growth.”Theimplementation comes amid broader technology adoption in African financialmarkets, where banks are modernizing their trading infrastructure. AccessBank's FX platform upgrade aligns with its previously announced regionalexpansion strategy across the continent.This marksanother key partnership for Access Bank, followingits recently announced collaboration with Mastercard to improvecross-border payments and remittances across Africa.OTP Group and Bank of CyprusIntegralhas continued to expand its banking client base, most recently welcoming OTPGroup in November of last year. The Hungarian bank, with 17 million customersacross Central and Eastern Europe, integrated Integral’s liquidity aggregation,pricing engine, trading, and risk management solutions to improve pricingaccuracy, reliability, and cost efficiency in its foreign exchange operations.“We are constantly developing our money and capital markets services to deliver exceptional service and tailored solutions to our regional and global clients,” said Attila Bánfi, Managing Director of OTP Global Markets.A fewmonths before that, the Bank of Cyprus extended its collaboration with Integral toinclude real-time pricing and risk management within the bank’s onlineplatform. Using Integral’s SaaS technology for liquidity aggregation,execution, and risk management, Bank of Cyprus aims to provide tighter spreadsthrough real-time pricing for retail, corporate, and institutional customers.The bank has also expanded its offering to more than 45 currency pairs, withinstant account debiting and crediting at no additional cost.In thelatest development from two weeks ago, IUX—a global trading platform servingboth institutional and retail traders—integrated multiple Integral services.These include the Price Engine, Risk Management, and a MetaTrader 5 Gateway.This article was written by Damian Chmiel at www.financemagnates.com.
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TheCommodity Futures Trading Commission (CFTC) has launched an investigation intoSuper Bowl-related event contracts offered by Crypto.com and Kalshi, questioningtheir compliance with derivatives regulations as the market for sports-basedtrading products expands rapidly.Interestingly,on Sunday, another major player in the retail trading arena—Robinhood—launchedthe exact same contracts in partnership with the event contracts exchange.This raises the question of whether it might soon fall under theregulator’s scrutiny.CFTC Launches Probe intoSuper Bowl Event Contracts as Market ExpandsThe CFTC'sinvestigation centers on whether these sports-focused event contracts qualifyas gaming under existing regulations. The agency is particularly interested inhow these products comply with derivatives rules and whether they'resusceptible to market manipulation."Weare continuing to review the contracts in accordance with ourregulations," a CFTC spokesman stated, noting that the agency plans tohold public roundtables on emerging issues in derivatives markets, includingevent contracts.🇺🇸 LATEST: The US CFTC is reportedly investigating Super Bowl markets offered by Crypto. com and Kalshi, asking them how they comply with derivatives rules. pic.twitter.com/bxCRU9LeMD— Cointelegraph (@Cointelegraph) February 4, 2025Crypto.comhas maintained confidence in its products despite the regulatory scrutiny."We firmly believe in the legality of our events contracts and believe theCFTC is the appropriate regulator," a company spokesperson affirmed,confirming they will continue offering these contracts while cooperating withthe agency.Theinvestigation has broader implications for the growing event contracts market.The CFTC's January vote to place Crypto.com's sports contracts under specialregulatory review highlighted the agency's concerns about whether such productsserve the public interest.Robinhood Offers SuperBowl Event Contracts TooDespite theregulatory uncertainty, the market continues to grow. Robinhood's entry marks asignificant expansion, offering its derivatives clients the ability to trade oneither the Kansas City Chiefs or Philadelphia Eagles through Kalshi's exchange.“Availablein all 50 states through KalshiEX LLC, a regulated exchange, the Pro FootballChampionship event contract gives eligible customers the power to trade on theoutcome of the big game,” the company commented in an official announcementyesterday (Monday).Kalshi 🤝 RobinhoodToday is a big day: Kalshi launches its first broker, Robinhood.25 million more people now have exposure to our prediction markets. pic.twitter.com/GW2HzU4tJr— Tarek Mansour (@mansourtarek_) February 3, 2025It’s worth noting that these are not the first contracts of this kind offered by Robinhood. In October of last year, the company introduced similar instruments that allowed users to predict the winner of the US presidential election. The question now is whether this is still trading or if it has crossed over into sports betting or even outright gambling.The exactsame contracts have also appeared in the offerings of some FX and CFD brokers.One of them is FOREX.com, which has indicated plans to offer similar solutionsin the future.RegulationsThe timingof these developments is particularly notable, as they come just days aftersignificant political changes, including the recent presidential transition,which could influence the regulatory landscape for these innovative financialproducts.The coreissue revolves around the classification of sports contracts as gaming underthe Commodities Exchange Act. The outcome of this regulatory review could setimportant precedents for the future of sports-based financial products andtheir accessibility to retail investors.Kalshi is a CFTC-regulated financial exchange that lets people trade on event outcomes through binary contracts. Founded in 2018 by Tarek Mansour and Luana Lopes Lara, the platform received official CFTC approval in late 2020. These contracts pay out either $1 if an event occurs or $0 if it doesn't, and they…
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StoneX Group completed its acquisition of OctoFinances, a Paris-based fixed-income brokerage, in its latest effort to boostits European presence. The acquisition deal reportedly expands StoneX’s offerings in bond and convertible sales, debt capital markets, and credit research, adding new capabilities to its fixed-income division.Expanding Fixed IncomeOcto Finances, founded in 1991, focuses on bond trading and credit research. According to the announcement, the addition of Octo Finances strengthens StoneX’s capability to serve institutional clients with fixed-income solutions.Anthony Di Ciollo, Global Head of Fixed Income atStoneX, expressed optimism about the acquisition, saying: “We’re thrilled toofficially welcome Octo Finances to StoneX Group and believe the company willprovide us with significant new capabilities. Our joint planning is wellunderway, and we are excited by the opportunities for growth for the combinedbusiness in Europe.”Octo Finances is joining team StoneX!We are thrilled to announce an agreement to acquire Octo Finances, a leader in financial intermediation in Europe, specializing in the public and private bond markets. The acquisition will further our capabilities in Europe and fortify our… pic.twitter.com/J9JP29kYYx— StoneX Group Inc. (@StoneX_Official) September 18, 2024StoneX operates a global financial services network,providing trading, execution, and risk management services. The company nowaims to integrate Octo Finances’ expertise to offer a more robust suite ofservices to its European clients.Strengthening Presence in EuropeIn another move to boost operations in Europe, StoneXGroup’s digital asset division secured a license from Ireland’s central bank asa virtual asset service provider. The permission was reportedly granted to thecompany’s locally established StoneX Digital International, which canreportedly operate as a digital asset business, offering services toinstitutional clients.Announcing the move, Brian Mulcahy, the CEO of StoneXDigital, said: “StoneX Digital International Limited’s new status as a VASPunderscores our dedication to supporting our global client base with secure,compliant, and reliable solutions in the rapidly changing digital assetlandscape.” “This approval continues the expansion of our services intoevolving markets and helps meet the growing demand for institutional-gradedigital asset capabilities.”Meanwhile, StoneX Group brought Philip Smith as the Group Chief Executive Officer towards the end of last year, succeeding Sean O'Connor, who transitioned to Executive Vice-Chairman after serving as CEO for 22 years. Smith, who previously led the Commercial and Payments segments, was reportedly picked to manage the entire firm. The leadership changes also saw Charles Lyon, former head of the Institutional business segment, named Group President.This article was written by Jared Kirui at www.financemagnates.com.
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RoboMarkets expanded its services in the Polish marketwith the appointment of Mateusz Żelek as Managing Director of RoboMarketsPolska. In a LinkedIn post, Żelek mentioned: "With a slight delay, I ampleased to announce that I am starting in my new position as Managing Directorat RoboMarkets Polska."Joining RoboMarkets from Match-TradeWith years of experience in financial markets, MateuszŻelek joins RoboMarkets after nearly a six-year tenure at trading platformdeveloper Match-Trade, where he joined as Broker Support Junior Specialist andlater served as Deputy Head of Dealing and Broker Support. His career also includes a role as a BusinessDeveloper at FX risk management provider Ebury. His appointment comes as partof RoboMarkets' broader strategy to establish a strong foothold in Poland. Last year, RoboMarkets announced new changes to its European business operations that the company mentioned that they will beimplemented at the end of last year.The Group shifted its European operations and servicesto serve primarily stock investors and traders, citing the market conditions. According to the company, the Frankfurt-based and BaFin-regulated entity RoboMarkets Deutschland GmbH became the new base forserving European retail clients, concentrating exclusively on stocks, bonds,and ETFs. RoboMarkets Group's European BusinessCommenting on the changes, Vanyo Walter, the Directorof RoboMarkets Deutschland GmbH, said: "Moving forward, RoboMarketsDeutschland GmbH will continuously expand its stock offerings and markets,optimize trading conditions, and maintain a stable, competitive, and attractiveenvironment for clients.""We believe the market for self-investing andtrading in stocks will grow significantly in Europe, and we are committed tobecoming one of the leading stockbrokers in the region."Meanwhile, the announcement mentioned that theCyprus-based and CySEC-regulated RoboMarkets Ltd institutional broker will nolonger serve retail clients from early 2025. The adjustments are expected to enable the firm tocontinuously focus on and permanently optimize the technological, execution,and other top-quality aspects of its products.This article was written by Jared Kirui at www.financemagnates.com.
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Kraken has announced the acquisition of a Markets inFinancial Instruments Directive (MiFID) license in the EU. The license wasobtained through the purchase of a Cypriot Investment Firm, recently approvedby the Cyprus Securities and Exchange Commission (CySEC).Kraken Targets European Market with Derivatives"As we continue to expand our services across theglobe, our focus on the European market remains a top priority," saidShannon Kurtas, Kraken Co-GM of Pro & Exchange. This development supports Kraken’s expansion strategy,enabling the company to offer regulated derivatives products to advanced cryptotraders in selected EU markets.Securing EU License for Crypto TradersThe new license emphasizes Kraken’s focus on meeting thedemand for secure crypto derivatives trading in the EU. The company plans tomeet additional conditions in the coming months to launch the products in localmarkets."This acquisition reflects our confidence in the EU andunderscores our commitment to providing a trusted, regulated environment foradvanced crypto traders and investors." Kurtas added.JUST IN: @krakenfx has obtained a MiFID license via a Cypriot Investment Firm acquisition, approved by CySEC. This will allow them to offer regulated crypto derivatives in select EU markets soon. pic.twitter.com/YuZJ1yGOxr— Satoshi Club (@esatoshiclub) February 3, 2025Broadening Services for Advanced TradersThe offering will provide advanced traders with access to awide range of assets, using various collateral currencies to back positions.Europe is an important market for Kraken, and offering fully compliantderivatives products from an EU-regulated base aligns with its growth strategy.Kraken has been expanding its offerings for institutionaland advanced investors. In 2019, Kraken acquired Crypto Facilities, a UKFCA-regulated crypto futures platform, enhancing its presence in the UK market.Offering Fee Credits for FTX ClientsKrakenhas introduced a new initiative for clients receiving funds from FTX on itsplatform. Eligible clients will receive fee credits, allowing them to trade upto $50,000 in cryptocurrency without paying trading fees, as reported by Finance Magnates.In December, Kraken was selected as a partner fordistributing funds to former FTX clients. The company intends to lower the costof converting these US dollar payouts into cryptocurrencies.Clients who qualify will receive up to $105 in Kraken trading feecredits (KFEE), depending on the amount received. These credits will beavailable on Kraken Pro and applied once the FTX distribution is received.This article was written by Tareq Sikder at www.financemagnates.com.
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STARTRADER has obtained its Securities and CommoditiesAuthority (SCA) license in the United Arab Emirates (UAE), adding to itsexisting regulatory approvals across various global markets. STARTRADER Gains SCA LicenseThis new license increases the company’s total number offinancial services licenses to six, including those from the Financial ConductAuthority (FCA), the Australian Securities and Investments Commission (ASIC),the Financial Services Authority (FSA) of Seychelles, the Financial SectorConduct Authority (FSCA) of South Africa, and the Financial Services Commission(FSC) of Mauritius. Peter Karsten, CEO of STARTRADER, stated: "Securing sixlicenses, including the SCA, is a major milestone for STARTRADER. This allowsus to better serve our clients in carefully selected markets, with the UAEacting as a central hub for growth."Targeting UAE GrowthThe SCA license provides STARTRADER with the ability toserve clients in the UAE as the region continues to grow as a financial hub.The company aims to expand its reach in the UAE market, aligning with thebroader trends in the Middle East and North Africa (MENA) region."By expanding here [UAE], we align with the region’sevolving financial landscape and remain focused on delivering outstandingservice," Karsten added.This article was written by Tareq Sikder at www.financemagnates.com.
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FundedNext, a global leader in prop trading, is making significant strides in its mission to innovate and expand within the trading industry. This bold move is highlighted by announcing the new brokerage expansion, designed to redefine industry standards. The brokerage is actively recruiting top talents for various critical roles to support this exciting new venture. With initial operational hubs in Cyprus and Malaysia, the company is set to create a global impact.A Proven Leader Joins the TeamFotis Theodosiou, a highly accomplished professional in trading and risk management, will be leading the initiative as the Chief Dealing Officer. His expertise and leadership are expected to set a strong foundation for this ambitious project.The new brokerage division has gained a significant advantage with the addition of Fotis Theodosiou to its leadership team. With his experience in trading operations and risk management, Fotis has established himself as an expert in navigating the complexities of financial markets. His tenure of over 10 years at industry leaders like Exinity and Exclusive Capital highlights his exceptional ability to lead high-performing teams and implement advanced trading strategies, paving the way for unprecedented growth.Exciting Career OpportunitiesAs part of this expansion, the company is recruiting for several critical key executive roles across various departments for the new brokerage. Each role is designed to contribute to the division’s success by leveraging individual expertise to create a cohesive and high-performing team. The key roles include:Global Head of Business Development Global Talent Acquisition LeadHead of ComplianceHead of ProductEach of these roles is integral to the success of the brokerage, offering professionals the opportunity to contribute to a transformative project that sets new benchmarks in the trading industry.Apply TodayThe brokerage is set to offer professionals a unique opportunity to influence the trading industry significantly. Click here for more information on available positions and the application process.This article was written by FM Contributors at www.financemagnates.com.
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The Financial Conduct Authority (FCA) has secured aconfiscation order against Mohammed Zina, a convicted insider dealer. The orderamounts to £586,711.01, which covers all of Zina’s available assets. The order, issued on 29 January 2025, must be paid withinthree months. If Zina fails to comply, he will face an additional five years inprison.Regulator Confiscates Assets from Insider DealerTherese Chambers, the FCA’s joint executive director ofenforcement and market oversight, emphasized that insider dealing underminesmarket integrity. She also stated that the FCA aims to prevent convictedindividuals from retaining any illicit profits.Zina worked as an analyst at Goldman Sachs Internationalbetween 2014 and December 2017. He joined the company’s Conflicts ResolutionsGroup in 2016, where he gained access to confidential information aboutpotential mergers and acquisitions. Between July 2016 and December 2017, Zina used this information to trade in sixstocks, generating returns of around £140,486."Crime Does Not Pay"To finance the trades, Zina fraudulently obtained threeloans from Tesco Bank, totaling £95,000. In February 2023, Zina was convictedon nine counts related to insider dealing and sentenced to 22 months in prison.Mohammed Zina was prosecuted alongside his brother Suhail Zina, a former lawyer at UK “magic circle” firm Clifford Chance in one of the FCA’s most high-profile insider dealing cases in recent yearshttps://t.co/NAWtjUd1Z2— Clever Hedge (@cleverhedge) January 31, 2025"Insider dealing harms the integrity of our markets. Aswell as prosecuting insider dealers, we will not allow them to keep any part oftheir illicit profits. We have confiscated the entirety of Mr Zina’s assets,demonstrating that crime does not pay," Chambers commented.FCA Reduces Enforcement TimelinesThe FCAhas outlined a five-year plan aimed at enhancing efficiency, tacklingfinancial crime, and empowering consumers. The regulator is streamliningenforcement timelines, with recent cases closing in 13 months, down from 42months, as reported by FinanceMagnates. FCA Chief Operating Officer Emily Shepperd highlighted afocus on innovation and leveraging technology, including data analytics, toimprove outcomes. The plan also emphasizes strengthening consumer confidenceand supporting the UK’s financial services sector, which contributes £278billion to the economy.This article was written by Tareq Sikder at www.financemagnates.com.
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