Turkey Stops the Supply of Oil not Under Russian Sanctions, Raising Global Supply Concerns

As a result of EU sanctions against Russia, Turkey’s newly-imposed insurance and G7 nation price cap regulations have created congestion in the Bosphorus Strait due to tanker delays transporting Kazakh oil.

Turkey Supply Concerns Map

Kazakhstan’s natural resources are transported to the global market through Russia, with officials able to verify their provenance through bill of lading records. The port city of Novorossiysk serves as a major hub for this activity and is helping fuel its growth on an international scale.

Approximately $1.2 billion of oil remains stranded due to around 20 million barrels being contained within vessels unable to move.

The Turkish insurance industry has recently implemented stringent restrictions for tankers transporting Russian crude, resulting in a slowdown of traffic between Russia’s Black Sea ports and the Mediterranean. This policy shift has had significant implications on maritime trade since its introduction this week – marking an unprecedented move by Turkey’s insurers to regulate oil transportation activity.

Refiners are facing a major challenge as delays accumulate, potentially impacting the supply of gasoline and diesel. To counter this problem, companies may source crude oil from other nations or reduce operational capacity due to lack of availability – raising alarm bells for Andrew Lipow, President of Lipow Oil Associates.

Kazakh oil is a global commodity, with customers spanning from the Far East to Europe and all the way to America’s eastern seaboard.

Join HFM’s Festive Contest and Win $1000

HFM’s Festive Contest

The award-winning forex and commodities broker HFM is happy to invite you to join this year’s Festive Guess and Win Contest, giving you a unique chance of winning one of FIVE $1000 prizes as cash or to invest in trading.

This is how you can join the contest:

You can get the seven “Secret Keywords” on the HFM App notification center every Tuesday and Thursday.



Terms and Conditions to Apply

Contest period: 05 December – 30 December 2022

Note: To be able to receive the keywords, make sure you have the latest version of the app installed and notifications are turned on.

About HFM

HFM, formerly HotForex, is a brand name of HF Markets Group, an internationally acclaimed multi-asset broker that is a choice to over 3.5 million live accounts throughout the world. It has earned over 60 coveted industry awards during its twelve-year of operating. The company offers a wide variety of account types, innovative products, platforms, tools and educational resources. Besides, it has an outstanding customer service and unparalleled trading conditions to facilitate individuals and institutional customers to trade Forex and CFDs online.

Vantage Launches Social Trading on Its Mobile App

The multi-asset online broker Vantage has announced the launch of a social trading feature on its proprietary mobile app, Vantages App, thus expanding its app’s capacity and turning it into an all-inclusive trading app supporting both regular and social traders.


Social trading has rapidly broken onto the scene over the last decade, revolutionizing how newcomers and veterans alike navigate complex forex markets. By copying successful trader strategies, social traders can harness their knowledge to make informed investments with minimal effort.

Social trading on the Vantage App will cover the whole product offering of more than 1,000 trading instruments including CFDs on Forex, Commodities, Indices, Energy, Shares, ETFs and Bonds.

About Vantage

Vantage is a global, multi-asset broker offering clients access to a nimble and powerful service for trading CFDs on Forex, Commodities, Indices, and Shares. With more than 10 years of market experience and headquartered in Sydney, Vantage now has over 1,000 staff across more than 30 global offices.

For more information read our detailed review article on Vantage or visit their official webpage.

US equity funds recorded the biggest weekly inflow for the last 10 months

In the week leading up to Nov. 16, U.S. equity funds attracted massive inflows as signs of slowing inflation eased investor fears of a more aggressive Federal Reserve rate hike.

According to data from Refinitiv Lipper, U.S. equity funds obtained a net of $16.65 billion, the biggest weekly inflow since Dec. 29.

Analysts at the bank said in a Tuesday note that allocations to equities reached the third-highest sum since 2008 during the five-day period, according to client data — a sign investors believe indicates that the market sell-off is nearing an end. But BofA contested the notion that the worst is behind for the stock market.

After surging for the first two days of last week, a jobs day plunge erased much of the gains. Still, stocks managed to end the week higher after three straight weeks of losses.

Bank of America noted that the broad-based shopping spree across U.S. equities ranged from single stocks to exchange-traded funds while the purchases spanned hedge funds, institutions, and individual investors. Institutional investors were the biggest buyers, recording their first inflow in a month and largest inflow since December 2020.

FP Markets Launches the Upgraded and Redesigned Introducing Broker (IB) Portal

FP Markets has redesigned its IB portal

15 November 2022: FP Markets has redesigned its IB portal with business intelligence in mind, to assist in maximizing transparency and make certain the partnership is a success.

In the FX Industry, the IB program introduced by FP Markets is one of the leading partnership programs and is designed to reward the introducers and partners that refer traders to FP Markets.

With the new and updated IB portal partners can view their clients’ traded volumes and Sub-IB networks and try to produce bespoke reports with the help of advanced analytics tools. Partners can observe the client journey from the very beginning – from the approval status to deposits and withdrawals, guaranteeing complete transparency.

Other advantages are:

  • A cutting-edge user-friendly Dashboard providing a snapshot of the latest and comprehensive account activity
  • Data visualization tools to follow the monthly performance
  • Enhancement of the referral link function enabling IBs to pick from a large variety of landing pages that meet the target market needs and help optimize conversion
  • Detailed Visualization of multilevel IB hierarchies enabling partners to access their commission plans with ease
  • The rebates and commission transferring procedure has been streamlined for smooth and straightforward transactions. Besides, a range of withdrawal methods are offered to partners.
  • The IB Portal has been enriched with a brand-new marketing section that supports IBs to attract new clientele by using marketing material available in different languages
  • For the latest news, interviews, and tutorials partners can access the Partners Hub

Kim Reilly, the Project Manager, stated that their aim is to help the brokers rely on transparency, reporting, and excellent marketing tools to manage their referrals. He emphasized that partners have a point of reference to view their generated rebates and the commission rates. The enhanced and upgraded IB Portal will be an enjoyable experience for their IBs. Reily further informed that the redesign was based on the partners’ feedback that has resulted in enhanced business intelligence, with reporting tools that have no match.

Join here to be part of a competitive, volume-based rebate structure combined with low entry barriers.

Orbex Awarded Best FX Educational Broker in MENA

Orbex Awarded Best FX Educational Broker in MENA

Orbex, a global multi-regulated financial services broker, has announced that it received the “Best FX Educational Broker in MENA 2022” award at this year’s Forex Expo in Dubai. This is due to Orbex’s long-standing dedication to providing its trader with the best market research, analysis, and trading education available in English and Arabic.

The Forex Expo Awards honor the achievements of top companies that represent quality and innovation in the global fintech and financial services sectors at their best. The Forex Expo in Dubai brings together thousands of traders and top figures from the fintech and investment services sector, including banks, institutional investors, hedge funds, brokers, fintech solution providers, and media outlets, and is concluded with an awards ceremony. As one of the Forex Expo’s Titanium sponsors, Orbex had the chance to demonstrate its trading services, partner prospects, and multi-awarded Research & Analysis team.

Since it was created in 2011, Orbex has earned a reputation for making significant investments in educating its customers and the larger trading community about the financial markets, guiding people on how to trade online with CFDs through daily market news analyses, live webinars, regional seminars, and special reports. Given its ongoing investment in top-notch Arabic Research & Analysis, Orbex, which is dedicated to “helping traders responsibly,” has a particularly strong presence in the greater MENA region and most Arabic-speaking nations.

Orbex Head of Training and Market Strategy Mohammed Al-Mariri who had the opportunity to accept the “Best FX Educational Broker in MENA 2022” in person, commented, stating that the award validates their continuous efforts to provide the best possible trading education and supports traders to gain a better understanding of the global financial markets and how to conduct trades. He further expressed his enthusiasm that their Research team’s dedication to high-quality research has once again been recognized by Forex Expo Awards and that they remain committed to providing traders with actionable market commentary, real-time expert analysis, and exclusive trading insights in multiple languages.

Moreover, earlier this year, Orbex’s Research team was honored with the ‘Best Forex Research and Education Provider 2022’ by the acclaimed fintech magazine and awarding body World Finance.

About Orbex

Orbex is a leading global investment services firm offering award-winning forex and CFD trading services at some of the most competitive conditions. Since its inception in 2011, Orbex has committed to providing access to first-in-class trading and investing solutions that are backed by leading education, expert research tools, and the ongoing support needed to assist clients in navigating the global financial markets.

Orbex Successfully Exhibits at the Dubai Forex Expo 2022 as Titanium Sponsor

Orbex Exhibition at the Dubai Forex Expo 2022

International multi-regulated broker Orbex emerged as one of the most outstanding exhibitors at the 2022 Dubai Forex Expo, which took place at the World Trade Center from October 19 to 20. There Orbex had the chance of displaying its trading offerings and goods at the biggest yearly trading exhibition in the Middle East as one of this year’s Titanium sponsors.

Over 120 international and regional fintech companies participated in the event which lasted two days and that took place in the center of one of the UAE’s most important financial hubs and drew over 10,000 attendees. On stage, more than 80 speakers and business leaders shared their knowledge and expertise with visitors at the exhibition. Among them were Orbex’s representatives and leading market analysts who presented their exclusive “2023 Q1 Market Outlook” projections and participated in a panel discussion on “Asset Classes and Central Banks”.

Orbex’s delegation was able to meet with hundreds of partners and traders and showcase the company’s products, B2C and B2B, and services at their eye-catching Titanium stand at Booth #20. The Orbex stand enjoyed a rather impressive turnout, as the broker chose to unveil its new Affiliation program exclusively at the expo and hosted a series of meetings, prize draws and VIP events to engage with their clients, partners, and expo attendees.

At a special award ceremony that took place at the conclusion of the Dubai Forex Expo, Orbex was also awarded the title of “Best FX Educational Broker in MENA 2022” in recognition of its long-standing dedication to offering clients quality research tools and teaching in both English and Arabic. It’s also important to note that earlier this year, the renowned fintech publication and awarding body World Finance recognized Orbex’s Research team as the “Best Forex Research and Education Provider 2022”.

You can watch some of the highlights from Orbex’s latest exhibition at the Dubai Forex Expo 2022 here.

About Orbex

Orbex is a leading global investment services firm offering award-winning forex and CFD trading services at some of the most competitive conditions. Since its inception in 2011, Orbex has committed to providing access to first-in-class trading and investing solutions that are backed by leading education, expert research tools and the ongoing support needed to assist clients in navigating the global financial markets.

HFM Announces Eliud Kipchoge its Kenya Brand Ambassador

HFM Announces Eliud Kipchoge its Kenya Brand Ambassador
The marathon legend has signed an agreement to become the official brand ambassador for HFM as the broker continues to empower its global presence.

October 2022 – Global multi-asset broker HFM released an announcement about Kenyan distance runner and marathon world record holder Eliud Kipchoge signing up as the company’s new official brand ambassador in Kenya.

Eliud Kipchoge was born in November 5, 1984. He’s known as the world’s greatest marathon runner of all time. From 2014 to 2019 he entered 10 marathons in total and won all of them (the Rio 2016 and Tokyo 2020 Olympic Games marathons, and eight Marathon Majors in London, Chicago, and Berlin). During the 2022 Berlin Marathon Kipchoge set the marathon world record at 2:01:09.

This said HFM is honored for the opportunity of cooperating with one of the most iconic athletes of all time. Through this cooperation and joining of forces, trading will become more accessible to everyone worldwide. The partnership is based on the most essential values that are common for a successful trader and a world-class athlete: persistence, determination, and the will and striving for constant development and the best results.

According to an HFM spokesperson, the collaboration with Eliud Kipchoge is another attempt to offer a superior trading environment to their highly valued clients. He added that Eliud’s image and his brilliant achievements are a great source of inspiration, and they sincerely hope that the partnership will inspire and encourage not only traders, but everyone all over the world to be the best in what they are doing. He summed up by expressing his excitement about the upcoming cooperation and bringing HFM’s exceptional offerings closer to the Kenyan market.

Eliud Kipchoge in his turn expressed his enthusiasm about the offer, saying he is proud to become HFM’s brand ambassador in Kenya. According to Kipchoge, he is looking forward to working with HFM, a company that is known in the world of sports for its partnership with Paris Saint-Germain F.C.

You can learn more about this collaboration by visiting the company’s website.

About HFM

HFM, formerly known as HotForex, is a brand name of HF Markets Group, an internationally acclaimed multi-asset broker of choice to over 3.5 million live accounts worldwide that have earned over 60 coveted industry awards in its twelve-year history. The company offers a wide variety of account types, innovative products, platforms, tools, and educational resources besides outstanding customer service and unparalleled trading conditions to facilitate individuals and institutional customers to trade Forex and CFDs online.

US to Tax All Crypto Transactions including NFT and Stablecoin

The US Internal Revenue Service (IRS) has once again updated its annual questions on cryptocurrency holdings and associated gains.


Most notably, the authority tweaked the 2022 draft instructions for tax form 1040 to include non-fungible tokens (NFTs) and stablecoins, replacing the term “virtual currency” with “digital assets”.

In the newly released draft of the individual income tax return, the IRS clarified that digital assets are “any digital representations of value that are recorded on a cryptographically secured distributed ledger or any similar technology. For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins.”

The updated questionnaire states that taxpayers must disclose any kind of cryptocurrency acquisition including those received “as a reward, award, or payment for property or services” or “sold, exchanged, gifted, or otherwise disposed of a digital asset (or any financial interest in any digital asset).”

The IRS said it plans to make public criminal tax-evasion cases involving cryptocurrency, which opens a new front in the agency’s burgeoning scrutiny of the industry.

As described further in the petition, though taxpayers are required to report any associated profits and losses on their crypto dealings, the IRS’s experience “has demonstrated significant tax compliance deficiencies relating to cryptocurrencies and other digital assets.”

Based on its recent experiences with cryptocurrencies, the IRS believes that crypto transactions are not being properly reported on tax returns.  Among other reasons, the authority says there is no third-party reporting to the IRS on such transactions, and previous summonses served on other cryptocurrency dealers have revealed significant underreporting of such transactions.

Recently, there have been numerous reports emerging of tax authorities clamping down and going after cryptocurrency traders. The IRS also sent letters to taxpayers who might have failed to report income and pay the resulting tax from cryptocurrency transactions.

At the very core, the IRS still deems crypto assets to be property rather than currency for income tax purposes, the same as its regulatory guidance came out seven years ago. That means the authority will continue to tax crypto profits and losses like those for stocks, at capital gains rates.

The IRS has also addressed how to track the fair market value, capital gains, and losses in the context of virtual currencies. When a transaction is facilitated by a cryptocurrency exchange, the value of the taxed deal is the amount that was recorded by the platform in US dollars. Further, the taxpayer’s buy/sell price will determine whether a gain or loss has occurred as well as its duration.