Orbex Celebrates 10-Year Anniversary

Orbex Celebrates 10-Year Anniversary

Global financial services provider Orbex recently celebrated its first decade in operation as a regulated FX broker. 

The celebratory event occurred on October 17th, 2020 in Limassol, Cyprus, the town the company has called home since its inception in 2010. 

The evening brought together members of the HQ staff, Orbex business partners as well as his excellency the Mayor of Limassol and various esteemed members of the Limassol Municipality, in a gala filled with music, fireworks and gifts of appreciation.

The 10-year anniversary was not the only milestone being celebrated, however, with a host of other accomplishments marking this year as a success.

Most notably, the company recently enhanced its trading conditions and account types, offering its clients spread as low as zero. 

The company also continued its 10-year streak of a 100% clean regulatory record, a remarkable achievement considering the strict European framework that CySec-regulated firms must abide by.

“It is a testament to the values that Orbex is founded on that the company has maintained a decade of strict adherence to the rules of our nation’s highest regulatory authority. I am proud today to celebrate this occasion with a local company that leads by example” said Limassol Mayor Nicos Nicolaides

The anniversary comes just one year after Orbex secured its FSC license under Orbex Global Ltd., considerably increasing the number of clients the company is geographically able to serve across the globe, as well as significantly raising the available leverage for those eligible to trade with the Mauritius-based Orbex entity.

“When I started Orbex in 2010, I wanted to establish a financial services firm that was known first and foremost for its ethics and transparency. Now, one full decade later, I am beyond proud of the reputation we have built and the loyal community of traders we have created” said Orbex Chairman Abdullah Abbas. 

In addition to the regulatory developments and expansion of financial tools, this year, Orbex also brought home the title of Best Forex Broker 2020 MENA & EU, awarded by Global Banking and Finance Review. 

This award has been added to the impressive list of titles Orbex has obtained over the years, including “Best Trading Education Provider”, “Best Analysis Provider” and “Best FX Forecast & Strategy Provider”, in keeping with the company’s philosophy of promoting an informed and responsible approach to the forex markets. 

“I stand here today humbled by many things; by the hard work and dedication of the Orbex team, by the successes that we have achieved, and by the bright future I see for our brand in the years to come. I am beyond excited to enter this new decade, more passionate and dedicated to serve traders responsibly than ever” Abbas Added.

About Orbex

Orbex Limited is an award-winning global forex broker, fully licensed and regulated by CySEC. Headquartered in Limassol, Cyprus, Orbex specializes in the provision of access to the world’s largest and most liquid financial markets.

Orbex Global Limited is fully licensed and regulated by FSC Mauritius and headquartered in Ebene, Mauritius.

The companies offer multiple asset trading including forex, indices, commodities and metals. With a focus on research, analysis and enhanced security of client funds, Orbex upholds a reputation of seasoned expertise within the industry.

EverFX becomes Sevilla’s FC latest sponsor

EverFX logo

EverFX, a forex broker has become an official sponsor and global partner for Sevilla FC.  The company’s logo will appear on the front of the first team’s shorts from this Saturday at the Santiago Bernabéu. EverFX signed a deal until the end of the current football season in Europe with an option to extend the validity into next year.

Sevilla FC and EverFX, a FOREX company, have reached an agreement for the company, who has its headquarters in Cyprus, to become an official sponsor of the team. Sevilla is Europa League’s winningest team and one of Spain’s most successful football clubs.

Sevilla FC logo

EverFX is a trade name of ICC Intercertus Capital Limited. ICC Intercertus Capital Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). EverFX is a broker of CFDs on forex, metals, commodities and more, offering retail and professional traders the liquidity and state-of-the-art platforms to trade derivatives over the internet.

The CEO of EverFX, Georgios Karoullas, has commented on the deal: “This is an agreement we’re equally proud and excited about. From scouting players and nurturing young talent to winning on the highest level, Sevilla FC have set the standard for excellence both on and off the football pitch. EverFX wants to share and amplify everything this great football club stands for and we’re happy to embark on this journey with such an elite team.”

Sevilla FC’s website states that the team and the broker operates under the same values of justice, transparency and competition, so it was the perfect choice to collaborate with.

OANDA makes its leadership stronger with new appointments

OANDA review

Online multi-asset trading services and currency data and analytics company, OANDA Global Corporation has further strengthened its leadership team with two key appointments designed to help the firm execute its aggressive growth plans in the near future.

Mark Chesterman has been named Head of Trading, responsible for leading the global trading team, quantitative analytics and research groups from the firm’s London office. He has an extensive background in global capital markets and foreign exchange. A 14-year veteran with IG Markets, Chesterman held a variety of positions throughout his tenure including Head of FX and Futures, however most recently he served as Chief Operating Officer with Stater Global Markets.

Chesterman will report directly into Kurt vom Scheidt, who has accepted the newly-created role of Chief Operating Officer. Originally hired as Chief Product Officer earlier this year, vom Scheidt will now lead the Trading, Product Management, Financial Risk, Business Operations and Solutions for Business teams, playing a pivotal role in supporting OANDA’s continued growth in his expanded capacity.

Chief Executive Officer, Gavin Bambury commented, “A seasoned professional with more than 30 years’ experience in the financial services sector – not to mention first-hand experience of working at OANDA – Kurt was an obvious choice for the role of Chief Operating Officer. He is perfectly placed to help drive product improvements, oversee the trading infrastructure and manage financial risk.”

Bambury continued, “Over the course of the coming months, we will continue to strengthen the OANDA team with a series of strategic hires designed to help accelerate business performance, improve our customer trading experience and fuel company growth. OANDA has an exciting year planned for 2020, and we’re fully committed to making sure we have the best possible talent in place to help us achieve our goals.”

OANDA is a technology-driven, a financial services corporation founded in 1996.Company’s regulations are divided by geographical region of the company presence: OANDA Europe Limited – authorized by FCA (UK), OANDA Asia Pacific Pte Ltd – authorized by MAS (Singapore), OANDA Australia Pty Ltd – authorized by ASIC (Australia), OANDA (Canada) Corporation ULC is regulated by the IIROC. You can read our full OANDA review here.

BDSwiss Fundamental Analyst on German Elections 2021

BDSwiss Fundamental Analyst on German Elections 2021

The veteran fundamental analyst and Head of Investment Research at BDSwiss Marshall Gittler has shared his insights, views and projections on the upcoming  German Elections Report  and its impact on the EUR forex pairs. As the German Elections are getting closer, traders are already attempting to identify the biggest potential winners and losers in the forex and EU stock markets. 

German Election in the Focus

The German federal election will take place on Sep. 26th. This is the first such election in 16 years that won’t have Angela Merkel on the ballot. As Germany is the pivotal economy in Europe its future strongly influences the continent and the currency. So everyone wants to know if there will be a drastic change after 16 years under Merkel. 

Due to specifics of the Germany’s electoral system, it is difficult for any one party to form a government on its own, meaning that coalition governments tend to be the rule. 

Distribution of seats in the 19th electoral term

The polls show the CDU/CSU is leading, but with the Greens, rather than the SPD, in second place. As usual, no party is likely to be in a position to govern by itself. The focus, therefore, is on what parties might form a coalition and how they need to compromise in a coalition that might affect their policies. 

Statistics of elections

Currently, the only two-party coalition possible seems to be the CDU/CSU and the Greens (the so-called “black/green” coalition). Gittler believes that it is the most likely outcome of the election now. 

According to Gittler, these two parties have similar views on infrastructure investment, social policies, and climate change, although the Greens are more aggressive on the latter issue. But there are also big differences in some of the aspects of the parties. The CDU/CSU doesn’t want any tax hikes and wants to keep the debt brake and balanced budget target, while the Greens on the other hand want a wealth tax, higher taxes for the top income earners, want to make the debt break more flexible, and support a common EU fiscal policy and reform of the SGP. 

Trading days before and after elections

At the moment, US fiscal policy is making a bigger contribution to growth there than EU fiscal policy is, but in coming years as the US winds down its extraordinary policies and the EU’s NGEU fund continues to disburse funds, the EU’s fiscal contraction should be less acute than the US’. That may be one-factor supporting EUR/USD. If however, Germany goes back to ploughing the furrow of Teutonic rectitude, EU growth could slow and EUR/USD move still lower.

Visit bdswiss.group to access Marshall Gittler’s full German Elections Report and get a complete breakdown of what we can expect from the markets before and after the elections. 

Forex Trading Scams

We are here to answer all typical questions traders might have, with an increasing flow of trading scams offering sophisticated solutions and target, actually, everyone with promises of miraculous gains, high returns, and chances to trade in Foreign Exchanges, CFDs, Binary Options or other derivatives to “get rich almost instantly” rises day by day.

  • As Scammers primarily target individuals in order to obtain their money or personal information. It’s crucial for everyone to be vigilant and equipped with knowledge on how to safeguard themselves against scams and identify fraudulent offerings.

How does Forex Trading scam work?

A forex broker scam in simple words refers to fraudulent activities posing as legitimate forex brokers provided by dishonest individuals or entities. Scams typically deceive traders by misrepresenting their services, manipulating trades or prices, withholding funds, or engaging in other unethical practices to exploit unsuspecting clients for financial gain.

  • With an alert in your mind that scams do exist, any trader or investor should deal with any business offering or uninvited contacts very carefully. In fact, it is harder to detect scam if you’re a beginner in trading world, since all Broker would mention they are “regulated, safe and trustable with excellent serivce provided”. However, a detailed check of the information about the potential broker, especially its official legal data stand at the glance of any further steps, along with compliance to high service-providing standards and of course implementation of protective tools.
  • Many firms pretend to be a legal entity or username, or registration number from the regulated broker while pretending to be official but in fact, are just clone firms or Brokers that are offshore based which are not considered safe (Read Here Why to Avoid Brokers from Belize). Scammers also might claim to be an overseas firm and initially succeed to look like a real brokerage, as technology is getting smarter, however still be fraudulent Broker by nature.
  • In fact, Most of the information can be fakely claimed, while official license data is always open through the regulator’s websites and accessible at any time, so examine it carefully. Besides Top-Tier regulation always update list of unlicensed and fraudulent companies, so good to do research too. See snapshot on How to Check Broker License from FCA UK Regulatory website below.
  • The reality is that only officially regulated brokers should accurately state any sentence and provide the exact service as every word mentions on the website, since the authority checking on it. In return, the rest of the “firms” can promise whatever looks and sounds like a very attractive investment opportunity with the highest potential gains, but in fact, no one guarantees its nature. Just because the information looks official and true, it does not mean it is.
  • Furthermore, there are many other tricks frauds use, alike as the scammed traders report most often the broker will allow a very small initial deposit as an exclusive offering, run an attractive, allegedly smooth trading experience and even process some withdrawals just to give a successful impression that there is nothing to worry about. But further many issues will appear from being silent to Blocking account. See comments from real traders for one offshore Broker Hugos Way
  • Besides, typical tactic after seeing first success trader may invest more money, in many cases Broker representative also pushes traders to increase deposit promising higher returns, while in fact no one can tell you how much to invest, you should define amount you wish to trade with only yourself! Yet, sooner or later returns are ending, the account might all of a sudden become blocked, or the trader will face manipulation on price feed during a trading session and the balance will be gone to zero claiming trader made his own mistake.
  • Another typical scam issue happens with withdrawal processing, the funds getting stacked in the account or the trader receives ignorance, with no response, or the company is accused of unreasonably withholding the money of its clients.

Unfortunately, these practices are very common among frauds and every trader should size the actuality of non-regulated firms that simply operate traders, their accounts, and funds in their own way, with no reporting or control from any authority, therefore those firms most likely scams.

How does Forex Trading scam work?

How to protect yourself?

Even though the authorities and legal institutions taking serious steps to protect clients through public education, guidelines about investment services, and constant monitoring of the market offering with an updated list of recommendations, as well as companies that should be avoided. There are thousands of new scams appearing every day and year, so of course, none of the authorities or watchdogs can keep an eye on all of them. Therefore, every trader should follow certain guidelines in order to recognize rather the trading offering worth attention or you should protect yourself and avoid any further contact with the company. This list of recommendations on How to Avoid Trading Scams includes:

  • Do not open or click on suspicious links, and keep your devices and computers secure.
  • Be very cautious while dealing with any representative, as the scammers may reach you out through any available source like email, social media, various chats, or websites while will try to get into your trust. A further scenario will go to an attractive offering in quick and high gains with no bother, which is indeed hard to resist, yet safety always first.
  • Keep your personal, identifiable, and money information secured, never share any sort of documentation with representatives personally. Do not agree to send money or give credit card details to someone, as well as beware of unusual payment processing methods and payment requests, which often include virtual currency like Bitcoin.
  • Do not respond to rush in account opening or call to act immediately due to some sort of “hot offer”. Scammers usually use high-pressure tactics to get you to fund the account soonest possible, but it is not a good idea to make a fast decision without prelaminar careful review and consideration of all risks involved.
  • Always verify the broker’s registers before dealing with any firm in official sources and do not choose only Offshore or Unregulated Brokers (for example, see the snapshot of Capital.com FCA license on the regulator’s website) and check on their reputation, as well as read Forex Brokers reviews. Probably, if the firm is not authorized it is a high risk to be a scam. Also, you can always check Warning lists issued by the industry authorities and of course, you should run your own research see comments from real traders and consider strongly any issues, as well as review the List of Brokers to Avoid.

What to do if you got scammed?

In case you got already scammed you should report a scam to specified Regulatory authorities in your country and better to access a specialist for advice on your following steps, however there are many scammers claiming to returrn Forex Looses as well, so be cautious in this point too. The Regulators like UK’s FCA, Australian ASIC, Cyprus CySEC, and others provide an open and well-guided complaint procedure, therefore you should contact authorities immediately in case there are any concerns of being scammed, see snapshot on Complaint Form below.

You can Submit Trading complaint to the respective authorities by these links:

If you traded or invested with a non-regulated entity or offshore Broker, in fact there is no investment protection applied, and it is almost impossible to get any response since the Broker obliges almost to nothing, yet try to complain to your local authority. Besides, there is no established compensation, unlike the Regulated Forex Brokers provides.

In addition, you should keep an eye further, as those who became victims of scams are likely to be targeted again by other companies, as simply scammers sell out the information about potential investors further on.

 Submit Trading complaint

Conclusion on Forex Trading Scams

In conclusion, Scammers can trick you with a strong attempt to convince you of their genuine financial trading service, yet getting only to hand over money, so it is important to exersice caution. You should make sure that offering or investment advice from the company or representative is a legal and strictly overseen service.

We advise seriously considering only reputable financial advice or guidance before investing, as well as doing your own research. Always check on the firm attentively, read out the Forex Brokers Reviews, confirm registers, and do not rely only on the information provided by the potential company only through its webside. And of course, better choose your trading brokerage among Regulated Forex Brokers and avoid solely offshore-based firms from popular offshore destinations like Belize, Vanuatu, SVG, Mauritius etc firms.

If you think the company or another is likely to be a scam, do not deal with them any further and report the broker to the particular authority.

Vantage FX goes through a major rebrand

Vantage FX logo

One of the leading global CFD brokers, Vantage FX, has announced its rebranding. The idea is to reflect the company’s evolution into an all-encompassing, global financial services provider.

Head of Sales, Marketing and Partnerships of Vantage FX, David Bily has commented on the announcement: “The company’s rebrand and new tagline, “Trade your way” represents a significant step in the company’s evolution. We are redefining who we are, driving change and shaping the future of a pure client-centric financial services provider.”

Vantage FX brand ethos has always been built on transparency, trust, credibility and an exceptionally strong service offering as a CFD broker. These are the principles that have kept the company not only running seamlessly for the past decade and growing rapidly over this time, but it is something that it is continuously evolving that will aid in delivering what company’s clients truly want.

The “Trade your Way” tagline is to show that regardless of clients’ trading style, preferred instruments or financial goal, the company got them covered. Vantage FX has extended its instrument offering, reduced the costs of trading, and also placed a great deal of emphasis on onboarding client service staff that can support the clients in an increasing number of languages.

Vantage FX team of developers have created a brand new multilingual website, client portal, and improved IB portal, all offering an engaging design, a very effective user experience, and a suite of new features and functions that have been implemented at the request of the  clients and partners. 

Bily has also added: “If 2019 is anything to go by, Vantage FX’s existing clients, as well as the new-comers are sure to benefit from what 2020 will bring. Vantage FX are in the process of introducing even more products through their already extensive global Share CFD offering, as well as implementing further improvements to trade costs and the infrastructure to support the increasing number of traders that are switching from other brokers, and those who are joining for the first time.”

You can read our full Vantage FX review here.

RoboForex Receives the License of the National Bank of the Republic of Belarus

National Bank of the Republic of Belarus logo

RoboForex, an international financial company, has received a license from the National Bank of the Republic of Belarus. Its affiliated company was listed in the forex companies registry in accordance with the country’s current and local legislation.

To enter a new market, RoboForex and RoboMarkets joined their expertise and financial technology efforts to provide their clients with the best possible quality of services. After careful consideration, the Companies made a decision to use the RoboForex brand for offering their services in the region. The decision was motivated by RoboForex’s sound experience in the provision of financial services, wide brand awareness among CIS clients and the ability to provide competitive trading conditions corresponding to its clients’ needs.

RoboForex Review

Over ninety-seven Forex trading instruments, Metals, Commodities, Indices, and CFDs on stocks will be available for the clients of the Company. Access to trading operations will be made through the MetaTrader 4 platform.

Andrei Dziarnovich, CEO RoboForex BY, is commenting on the event:

“Receiving the license of the National Bank of the Republic of Belarus is a very important step of our expansion in CIS countries. Our key priority is to lead the industry whilst providing quality services on global financial markets, attractive trading conditions, and reliable protection of our clients’ interests.”

RoboForex Group recognized by the most respected experts of the Financial Market while operating since 2009 through 2 world companies RoboForex with operation around the world and RoboMarkets Ltd that support countries if the EU and the EEA. The company serves numerous clients around 800,000, from 170 countries and brings support in 18 languages, with the focus to develop trading offering by innovative technology solutions and numerous modern tools for trading. You can read our full RoboForex review here.

FMA of Austria warned against Prestige Financial Markets and FX Crypto Club

The Austrian Financial Market Authority (FMA) warns the public against the activities of two forex brokers Prestige Financial Markets and FX Crypto Club. These companies have been offering investments without complying with Austrian financial legislation. According to the official statements, these brokers are not entitled to carry out banking transactions in Austria that require a licence.

The Austrian Financial Market Authority (FMA) is an independent, autonomous and integrated authority for the Austrian financial market. The Austrian FMA is responsible for: contributing to the stability of Austria as a financial market; reinforcing confidence in the ability of the Austrian financial market to function; protecting investors, creditors and consumers.

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Are these brokers legit?

FX Crypto Club is owned and operated by CapCorp Ltd, incorporated in the Marshall Islands. The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as GoldmanCFD, Obsbit and more. 

Prestige Financial Markets logo

Prestige Financial Markets claims to be a leading and regulated broker in the trading industry. However, we have some doubts about its regulation. The company is owned by AllProTech OÜ. AllProTech OÜ operates some other brokers that we have previously reviewed (AlphaCapital, 10Brokers and Prestige.FM) and has been blacklisted by several regulators in Europe. Obviously, all the brokers associated with the AllProTech OÜ should be avoided. 

We advise all investors and traders to avoid unregulated offshore brokers. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as eToro and FXTM.

You can share your trading experience with Prestige Financial Markets and FX Crypto Club by commenting on this post.

A UK Brokerage ThinkMarkets acquires license from the FSCA

FSCA logo

ThinkMarkets has been awarded a licence by the Financial Sector Conduct Authority (FSCA) to offer electronic financial trading services to South African investors.

2010 saw the launch of ThinkForex in New Zealand with an aim to improve the forex trading experience by delivering leading technology to the community. Further, due to the company’s rapid expansion program and to meet growing demand the broker took a brand name ThinkMarkets to improve client security under ASIC and FCA, the company relocated global headquarters to London and Melbourne. You can read our full ThinkMarkets review.

former ThinkForex review

South Africans will be able to begin trading on the ThinkMarkets platform from 1 April 2019 with the confidence of a locally regulated firm. The local business will cater to the needs of South African traders and offer ThinkMarkets’ wide product range. An office will also be set up in Johannesburg.

ThinkMarkets plans to offer a range of South African products including Rand based currency pairs such as USD ZAR, GBP ZAR and EUR ZAR as well as CFD indices and equity derivatives that are actively traded by investors on the Johannesburg Stock Exchange.

“We are delighted with our newly approved licence which is a testament to our commitment to offering contracts for difference (CFDs) and forex to global traders with the confidence of a regulated and safe trading environment,” Faizan Anees, managing director and co-founder of ThinkMarkets said.

ThinkMarkets is not the only brokerage, or the first one, who decided to expand its business in South Africa. Some of the largest brokerages have already expanded their footprints there and are already providing their service to SA residents. Many of the international brokers in South Africa are now in the process of obtaining the license from the  FSCA.