eToro opens 24/5 trading on the top 100 US stocks In this week’s roundup of key industry developments, eToro, the publicly listed Israeli fintech firm, launched 24/5 trading for 100 of its most popular U.S. stocks, to enable users to buy and sell shares, including names like Mastercard, Snap, and Alphabet, outside regular market hours,…
Cyprus hit by wildfires In our weekly review, we start with the effects of wildfires in Cyprus. A devastating wildfire in southern Cyprus killed two people, injured at least ten, destroyed numerous homes, and forced the evacuation of over a dozen villages near Limassol. 🚨 Massive Wildfire in Limassol Region, Cyprus 🔥Red alert issued as…
Exness halts new registrations in India We begin this week’s recap with a significant development from Exness. The retail broker stopped accepting new client registrations in India. The change, implemented quietly and without an official statement, restricts account signups for users accessing the platform from Indian IP addresses. Exness’ registration page in India While Exness…
CMC teases entry into tokenisation The tokenization wave shows no signs of slowing, and the retail brokerage industry appears to be catching the fever. This week, CMC Markets has hinted at the upcoming launch of tokenised assets under its capital markets arm, CMC CapX. The teaser follows recent announcements from Robinhood and several crypto exchanges…
Unraveling of the prop firm Funded Unicorn How far-reaching are the consequences of failure in risk handling for prop trading firms? The closure of Funded Unicorn, one of Germany’s top prop trading firms, exposed weaknesses in the firm’s risk management. The firm used the much-respected A-book model to place all the risks on the market,…
IG wants to help the struggling UK stock market In the recent past, there has been an exodus of the number of listed companies in the UK, and IPOs are equally on a decline. In a bid to change the situation, IG Group launched a campaign to encourage British people to invest in local companies….
Dubai outpaces Cyprus on FX executive pay Despite its established status as a forex hub, Cyprus is losing ground to Dubai in terms of salaries paid to top executives in the industry. Dubai has also recently welcomed more brokers opening offices and acquiring local licenses. For instance, a Chief Operating Officer in Cyprus can earn…
Plus500 has a new shareholder Starting off our weekly news recap, America’s asset management firm Capital Group, with $2.2 trillion worth of assets under management, is now one of Plus500’s investors with a 5.44% stake in the London-listed retail broker, according to the latest filing. Capital Group is Plus500’s third-largest shareholder, behind BlackRock and JP…
“What’s good for the trader, what’s profitable for the broker” In our weekly roundup, we start with market analysis. The brokerage industry has long been dominated by opaque pricing, aggressive marketing, and layered middlemen. Tajinder Virk, the CEO and co-founder of Finvasia Group, shared some insight with FinanceMagnates.com, saying he believes that “the job of…
eToro aims to raise $500 million at a $4B valuation Starting our weekly news roundup, eToro is targeting a valuation of up to $4 billion in its initial public offering in the United States, as the platform finally moves ahead with its New York flotation plans. The IPO price is expected to be between $46…