Author: Adam Smith

IC Markets Broadens Offering with Launch of IC Shares for Cash Equity Investing

Posted on by Adam Smith
IC Markets

IC Markets, a leading online trading service provider with over 15 years of experience, has announced the launch of IC Shares, marking a significant expansion in their range of services to include physical equity investment. This new venture enables clients to invest in cash equity of companies listed on the Australian Securities Exchange (ASX) and Cboe, further cementing IC Markets' commitment to providing diverse investment options tailored for their Australian customer base.

In collaboration with FinClear, IC Shares offers a secure and user-friendly platform for investing in mid-cap and blue-chip companies within the Australian share market. Clients have the opportunity to invest using their own Holder Identification Number (HIN), benefiting from one of the lowest brokerage fees in the industry. This initiative makes investing in over two thousand Australian listed companies more accessible to a wider range of investors.

Dedicated to delivering a seamless and reliable trading experience, IC Markets aims to enhance their client offerings with the integration of IC Shares into their product portfolio. This move is aligned with their mission to provide a comprehensive and varied range of trading options for both retail and institutional clients.

About IC Markets

Founded with the vision of catering to both retail and institutional traders, IC Markets stands as one of the world's preeminent online trading brokers. Since its inception in 2007, the company has strived to bridge the gap between retail and institutional clients by offering trading solutions once reserved for investment banks and high-net-worth individuals. IC Markets' commitment to creating an optimal trading environment has made it a preferred choice for active traders globally, providing intuitive platforms, valuable tools, and comprehensive support.

Shares Trading Risk Warning

Investors are cautioned that all investments carry risks, including the potential for capital loss. The value of shares can fluctuate, resulting in returns that may be lower than the original investment. It's essential for investors to fully understand these risks before engaging in share trading.

IC Markets advises consulting their Share Trading Account Terms, Financial Services Guide, and other legal documents available on their website. Prospective investors should seek independent advice to ensure that any investment decision aligns with their personal objectives, financial situation, and needs. Past performance does not guarantee future results, and tax laws are subject to change.

Vantage Markets Collaborates with Bloomberg Media Studios to Unveil “The Vantage View” Video Series

Posted on by Adam Smith
Vantage

In a groundbreaking partnership, multi-asset broker Vantage Markets has joined forces with Bloomberg Media Studios to launch an insightful new video series named "The Vantage View". This initiative promises to merge Vantage Markets' financial acumen with Bloomberg’s globally acclaimed journalistic prowess, aiming to produce a series that stands as a beacon of in-depth analysis and insights into the evolving economic arena.

"The Vantage View" is set to captivate audiences with quarterly episodes, each embellished with profound insights from a myriad of influential voices and industry connoisseurs. The series aims to be a repository of comprehensive knowledge, delving deeply into a spectrum of crucial political-economic topics and trends that are pivotal in sculpting the global economic vista.

Audiences can look forward to episodes rich in content, covering various subjects such as the geopolitical ramifications of climate change policies, and the transformative impact of technological juggernauts like Artificial Intelligence on the world’s financial markets. The initiative is poised to be an invaluable resource for those eager to stay abreast of substantial developments that play a monumental role in directing global economic trajectories.

Marc Despallieres, the Chief Strategy & Trading Officer at Vantage, expressed his enthusiasm about the partnership, stating, "This partnership exemplifies our shared commitment to delivering high-quality content and fostering thought-provoking discussions on critical topics."

He further elucidated that by leveraging Vantage Markets’ profound expertise in financial services, in conjunction with Bloomberg’s unparalleled journalism and extensive global reach, "The Vantage View" aspires to burgeon into a trusted reservoir of analytical insights and commentary. It is tailored to satiate the curiosity of a diverse audience, encompassing investors, professionals, and financial enthusiasts, providing them with a nuanced understanding of the economic landscape's vital aspects.

This collaboration between Vantage Markets and Bloomberg Media Studios signifies a monumental stride towards fostering a culture of enriched knowledge sharing and intellectual exploration within the financial community, thereby facilitating more informed and strategic decision-making processes among investors and industry professionals worldwide.

Dukascopy Bank Raises Alarm Over Fraudulent Clone Website

Posted on by Adam Smith
Dukascopy-logo

Dukascopy Bank SA, a renowned Swiss-based financial entity, has acted promptly, issuing a stern public advisory concerning a deceptive clone website. The counterfeit website, identified by the domain https://www.dukascopys.top, has raised significant concerns within the banking institution dedicated to safeguarding the integrity of its operations and clientele.

Public Advisory on Unauthorized Dukascopy Clone

In a decisive move, the bank has alerted both the public and its clients, emphasizing that the fraudulent website is neither owned nor operated by Dukascopy Bank, Dukascopy Europe, Dukascopy Japan, or any affiliated entity within the Dukascopy Group. Individuals are strongly advised to exercise utmost caution, avoiding any interaction or the sharing of personal or sensitive information on the unauthorized platform.

Dukascopy Bank's rapid response underscores its unwavering commitment to protecting its clients while upholding the integrity and reputation of its services. The bank continues to actively thwart any unauthorized activities that compromise its name and stature in the financial sector.

The Imperative of Website Authenticity

This unsettling incident stands as a stark reminder of the ongoing risks posed by online fraudulent activities, particularly within the financial and banking industries where vital personal and financial data is often exchanged. Ensuring the authenticity of websites is pivotal in safeguarding sensitive information and conducting secure and legitimate financial transactions.

Analyzing Dukascopy’s Financial Performance

Despite this challenge, it’s essential to also spotlight Dukascopy’s recent financial performance. A notable decline has been observed, with profits plummeting by 80%, recording CHF 889,000 in H1 2023, a significant fall from CHF 3.9 million in the preceding year.

This downturn is mainly attributed to a substantial decrease in trading activity income, dropping by 33%. However, not all financial indicators were gloomy. Dukascopy saw remarkable growth in revenue from interest operations, witnessing a soaring 800% increase. In addition, a slight uptick in commission business and services income was observed, accompanied by a significant reduction in operational expenses.

Dukascopy Bank’s steadfast dedication to safeguarding its clients and maintaining operational integrity remains evident, even as it navigates through multifaceted challenges in the financial landscape.

CONSOB Orders Blocking of Five Illegal Investment Websites

Posted on by Adam Smith
CONSOB

In a continued effort to protect investors and regulate financial activities, Italy’s Companies and Exchange Commission (CONSOB) has instructed internet service providers to block five unauthorized investment websites.

The targeted sites are:

  • Ether Arena Ltd (website www.orionusdeal.com and related page www.clientzone.orionusdeal.com);
  • “ImpresaMarkets” (website www.impresamarkets.com);
  • “Fx-vita” (website www.fx-vita.com, and related pages www.panel.fx-vita.com and www.trading.fx-vita.com);
  • “Keysreim” (website www.keysreim.io, and related pages www.client.keysreim.io and www.webtrader.keysreim.io);
  • “Bitbinx.ltd” (website www.bitbinx.ltd and related page www.trade.bitbinx.ltd).

These actions stem from the powers vested upon CONSOB by the “Decreto crescita” (Growth Decree; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies). This law empowers CONSOB to direct service providers to block access from Italy to platforms operating without the requisite financial authorizations.

Since the provision took effect in July 2019, CONSOB has sanctioned the blackout of 935 such fraudulent financial intermediary sites.

However, it's worth noting that the actual process of blocking access to these websites is currently underway. Due to technical complexities, the complete blackout could take several days to be effective.

In light of these measures, CONSOB has taken the opportunity to emphasize the significance of due diligence among investors. It urges individuals to exercise caution and make well-informed investment decisions. A pivotal part of this precaution involves verifying the authorization status of financial service providers and ensuring the publication of a prospectus for financial product offerings.

For added investor safety, CONSOB offers a "Watch for Scams!" section on their official website, www.consob.it. This resource aims to educate investors and help them identify potentially harmful financial schemes.

Vienna Stock Exchange Integrates Stock, Indices, and Funds Data into TradingView

Posted on by Adam Smith
Vienna Stock Exchange Integrates Stock, Indices, and Funds Data into TradingView

The Vienna Stock Exchange has joined the growing list of TradingView data providers.

The Vienna Stock Exchange is one of the oldest in the world, being in business since 1771. It operates the Prague stocks exchange, provides infrastructure for other European exchanges (in Budapest, Ljubljana, and Zagreb), and strives to strengthen financial education in the region by organizing workshops and seminars every year.

The exchange provides liquidity and visibility to its listed companies, while investors get access to the global financial markets as well as the local market: to help market players evaluate the latter, the exchange launched its main index, the Austrian Traded Index (ATX). Today, the exchange lists 817 companies and keeps adding more.

And now, data from the Vienna Stock Exchange is accessible on TradingView: open the symbol search, type in the “VIE:” prefix, and see all the stocks, indices, funds, bonds, depositary receipts, and warrants available for analysis.

The TradingView platform reliably connects to hundreds of data feeds, with direct access to 1,357,880 instruments from all over the world.

UK Passes a Bill Recognising Crypto Trading as a Regulated Activity

Posted on by Adam Smith

The United Kingdom Parliament has taken a significant step towards becoming a crypto hub by adopting a new law that regulates digital assets and oversees crypto advertisements. The decision aims to position the country at the forefront of the rapidly evolving crypto industry.

UK Passes a Bill Recognising Crypto Trading as a Regulated Activity

The bill, known as the Financial Services and Markets Act 2023, has received Royal Assent from King Charles III on June 29, according to a press release issued by the government. The Act, which enables the regulation of crypto assets and stablecoins, has been hailed as a "Rocket Boost" to the UK economy, which has faced substantial challenges due to the COVID-19 pandemic and Brexit.

  • With the enactment of the Act, regulators such as the Financial Conduct Authority (FCA), the Bank of England, and the Payments Systems Regulator are now granted the authority to supervise and control financial activities involving digital assets and stablecoins. This move allows these regulatory bodies to implement new rules and safeguards in the digital sector to ensure their safe adoption in the UK.
  • The adoption of the Financial Services and Markets Act 2023 reflects the UK government's commitment to fostering innovation and creating a favorable environment for crypto-related businesses. By introducing comprehensive regulations, the government aims to strike a balance between protecting investors and consumers and supporting the growth of the crypto industry.
  • One of the key aspects covered by the new law is the supervision of crypto advertisements. Recognizing the increasing prevalence of crypto-related ads, the Act empowers regulators to monitor and regulate the content and dissemination of these advertisements. This measure aims to prevent misleading or deceptive promotions and to protect individuals from potential scams or fraudulent activities.
  • Moreover, the Act aims to provide clarity and legal certainty for businesses operating in the crypto space. By establishing a clear regulatory framework, the UK government seeks to attract crypto companies and talent, encouraging innovation and investment in the sector. (Learn more about UK financial Firms)

The decision to regulate digital assets and crypto ads aligns with the UK's broader strategy to leverage emerging technologies and maintain its position as a leading financial center. The government recognizes the transformative potential of blockchain technology and cryptocurrencies and aims to harness their benefits while mitigating associated risks.

As the crypto landscape continues to evolve, the UK's proactive approach to regulation positions it as a key player in the global digital economy. The new law sets the stage for a thriving and responsible crypto ecosystem, ensuring that the UK remains at the forefront of this groundbreaking industry.

USD pulls back as Initial Jobless Claims Exceed Consensus

Posted on by Adam Smith
USD pulls back

The initial applications for unemployment benefits surged to 260,000 over the past week exceeding the highest level since October 2021.

The Dollar Index, DXY, fell sharply on Thursday after the US economy sent an alarming signal. The total number of jobless claims has reached 261,000 surpassing estimates of 235,000 and exceeding the 233,000 claims from the week before. As a result, the dominant dollar lost its strength and depreciated by 0.7% as it ventured southward. (Learn more about Forex Trading in the US)

  • Jobless claims are weekly statistic reports issued by the US Department of Labour that estimate the total number of people filing for unemployment insurance benefits. There are two types of jobless claims - initial, which consists of people filing for the first time, and continuing, which comprises people who have been receiving unemployment benefits for a while. This is an important indicator for the nation's macroeconomic scene keeping track of the health of the US jobs market.

The latest figures are higher than those of October 2021 which explains the sharp reaction in the US currency. As a result, the EUR/USD pair surged by approximately 80 pips, reaching $1.0780, while the GBP/USD pair gained around 120 pips, surpassing the $1.2550 mark.

Italy’s CONSOB Takes Action Against Surge of Unregulated Platforms

Posted on by Adam Smith
CONSOB

Italy’s financial markets watchdog, Commissione Nazionale per le Società e la Borsa (CONSOB), has issued a stark warning concerning a rise in unregulated investment platforms operating within its jurisdiction. The regulator is urging individuals to exercise vigilance and caution while engaging in financial transactions.

In its latest enforcement action, CONSOB ordered Internet Service Providers (ISPs) to block access to five offshore websites found to be operating illegally within Italy. This move is part of the nation's wider campaign to combat the growing threat of unauthorized providers.

Among the blocked sites is a clone scam of Nadex, the North American derivatives exchange. This fraudulent platform is designed to deceive investors into believing they are dealing with a legitimate, regulated entity. Once lured into this trap, victims' personal and financial information is exploited for a variety of illicit purposes, including identity theft and unauthorized financial transactions, often leading to substantial losses from drained bank accounts.

For clarity, Nadex remains the only ‎legal way to trade binary options and spreads in the US. The firm, which ‎provides investors with the opportunity to trade stock indices, forex, commodities, ‎economic events, and Bitcoin, is regulated by the CFTC as a Designated ‎Contract Market and Derivatives Clearing Organization.‎

As the battle between legal and unregulated trading intensifies, CONSOB has issued a warning to Italian investors advising against using services from the following entities:

  • “Prime Markets” (website: https://primemarkets.co.com; page: https://my.primemarkets.co.com);
  • “Fintech Market” (website: www.fintechmarket.consulting; related page: https://cfd.fintechmarket.consulting);
  • Nadex CFD Limited (website: www.nadexcfd.com; related pages: https://my.nadexcfd.com, https://webtrader.nadexcfd.com);
  • Luxem Capital, Inc. (website: https://luxemcapital.com).

Upon review, the websites of these blocked brokers demonstrate a common tactic of targeting inexperienced clients with offers to trade highly leveraged products.

Since acquiring the power to ban unregulated financial intermediaries in July 2019, CONSOB has blocked a staggering 898 offshore sites. The regulator’s ultimate goal is to completely eradicate unlicensed trading from Italy, ensuring a safer ecosystem for local investors.

To achieve this, CONSOB employs a combination of AI-based search algorithms, investigations, and customer reports to identify rogue offshore operators. The 'Growth Decree' has further expanded CONSOB's power, enabling it to order ISPs to block websites within the region. However, due to technical limitations, it may take several days for such a blackout to come into effect.

  • We strongly advise against trading with offshore trading providers due to the increased risk of fraud. Always ensure that your chosen provider adheres to the regulatory standards set forth by your country.

Admirals to Revoke Estonian License Amids Global Consolidation

Posted on by Adam Smith
Admirals to Revoke Estonian License
Admiral Markets

Admirals has announced its plan to withdraw its investment company license granted in Estonia as part of restructuring. The restructuring stems from the necessity to expand the company's global presence. However, this change will have no impact on the Admiral Markets' existing clientele. (Read our detailed review of Admiral Markets)

Admirals Group AS, the parent firm of Forex and CFD trading company Admirals, is planning to merge with its Estonian subsidiary, Admirals Markets AS, in the first half of the upcoming year. To implement the plan, the company intends to withdraw its Estonian license, assumably in August this year.

According to the company's announcement, the decision to restructure comes from the necessity to expand its global presence, as the company has already significantly positioned itself in many regions over the past few years. Admirals also reassures that the change will have no impact on their existing clients. Moreover, it stated that MoneyZen — a trading platform regulated by Estonian Financial Supervision and Resolution Authority — will continue to operate in the country. (Platform's official website: moneyzen.eu)

Admiral Groups runs several subsidiaries in over 18 countries with client portfolios in over 145 countries and is internationally regulated in the UK, Canada, Cyprus, Australia, and South Africa.

In addition to restructuring, Admirals revealed its plans to buyback a total of 18,268 Tier 2 bonds worth €1.9 million from its investors.

For additional details regarding the broker's proposal, please visit their official website - admiralmarkets.com