Three largest brokerages such as CMC Markets, LCG and Pepperstone and two more major companies have applied for getting the Dubai Financial Services Authority license. These companies want to acquire an operating license in Dubai.
The Dubai Financial Services Authority (DFSA) is the financial regulatory agency of the special economic zone, the Dubai International Financial Centre (DIFC) based in Dubai, United Arab Emirates. The DFSA’s works with asset management, custody and trust services, banking and credit services, collective investment funds, securities, commodities futures trading, Islamic finance and an international exchange.
This move was caused by the increase of the regulatory pressure in European areas. Brokerage companies are actively searching for the options to become more diverse at the European market. The expansion into the Middle East is considered to be a smart decision because of the location of the most populous countries there.
What are the perks of getting the Dubai License? The interest for a Dubai license has increased since the EU authorities break down the brokers who offer their services in countries where they are not authorized. Also Mastercard has announced about checking and indicating all the high risk transactions from the service providers to retail traders.
The Dubai Financial Services Authority has a strong and solid reputation throughout the world. Although the process if gaining the a license from Dubai regulator is quite stringent. Such companies as Amana Capital, FxPro and AxoCorp have recently set up operations in the Middle East.
Fintech company ATFXannounced that it has launched a new face recognition technology for customers to open trading accounts. It is reported that this new service is to ensure that it can provide customers with security. This face recognition technology will verify customer identity when opening an account online. It is currently tested in the East and soon the company will apply the premium version to the global market.
Customers will now be able to open accounts and trade anywhere, anytime, in 60 seconds, without having to visit the office and create new security standards. The customer only needs to fill in the necessary information and import a personally identifiable information (ID) picture. An optical character recognition (OCR) system can then automatically read and recognize ID information and the geometry of the customer's face, which can significantly reduce time and errors compared to traditional methods.
In order to achieve the necessary level of compliance and to combat increasing identity fraud, ATFX and Electronic IDentification work together to provide a unified solution for all compliance and user entry.
An ATFX representative said, "ATFX attaches importance to the security of customer data, so we have used various technologies to prevent risks steadily. This technology will help enhance the security standards and precision in client’s identity verification at offices, thus reducing identity theft in account opening. "
"Electronic IDentification is thrilled to provide its Video IDentification technology to ATFX to drastically reduce fraud and improve customer onboarding while compliant with the highest regulations worldwide."
UK-headquartered global financial technology company TigerWit has announced that it has been accredited with a Financial Services licence from Hong Kong’s Securities and Futures Commission.
Hong Kong is a major global financial hub and receiving this licence represents an important development for TigerWit, as the firm sees continued expansion and growth for its trading services worldwide.
Tim Hughes, CEO at TigerWit said: “Securing a licence from the Securities and Futures Commission of Hong Kong is a significant milestone for TigerWit and represents another crucial part of our roadmap achieved. By gaining this licence we are another step further on our journey to offering our innovative trading solutions globally. Being regulated in the right jurisdiction allows us to expand our operations, whilst ensuring that our clients are afforded the relevant protections.”
Frederic Youssef, VP at TigerWit stated: "Obtaining the SFC license in Hong Kong will allow us to penetrate the vibrant ASEAN markets, and serve our partners through one of the most reputable financial regulations."
The company is already licensed by the several regulators such as the Financial Conduct Authority (FCA) and the Securities Commission of The Bahamas (SCB).
As the premier league season opens for action, GO Markets has announced about teaming up with Chelsea Football Club as their Official Online Trading Partner.
As one of the world’s leading football clubs, Chelsea FC has a history of success achieved through discipline, technical skill and leading performance, just like GO Markets, they compete at the highest level and excel on a global playing field.
Khim Khor, Director of GO Markets, said: ‘It’s our first move into international sports sponsorship, so we wanted to align with a club enjoying a global fan base and a rich history just like us. I am thrilled about our partnership with Chelsea FC and by being their Official Online Trading Partner. As a Prime of Primes, GO Markets offers a world-class trading experience to our clients. Partnering with Chelsea FC will let us increase our international brand awareness, while showcasing shared values of leading performance and quality execution.’
Soyeb Rangwala, Director of GO Markets, added: ‘As we embark on a journey of growth, and long-term sustainability we understand the importance of establishing strong global branding. The GO Markets – Chelsea FC strategic partnership will be useful and mutually beneficial, each with a position to attract more customers and increase global market share. We are proud to be working alongside such a passionate and professional brand.’
GO Markets is one of the longest standing and most reputable online brokers in Australia. Since its formation in 2006 GO Markets has specialised in providing online trading services in an ever-increasing number of financial assets, including Margin FX, Precious Metals, Commodities, Indices and Share CFDs. Providing clients with the highest level of Information and Support has been a major driver in GO Markets ongoing success. Over the last 15 years, the GO Markets Group has expanded its success globally and is now licensed in multiple with regulated entities in Australia, Cyprus, UAE, Mauritius, and Seychelles.
Global GT announced its loudest Promotion ever run to date.
30 winners of this “Start Your Engines” Promotionwill be chosen randomly through a Lucky Draw and will be offered Grand and Cash Prizes worth a total of US$25,000. Grand Prizes include 2 BMW G 310 GS of the 40 Years GS Edition, 1 Apple MacBook Pro M1 Chip 13 and 2 Apple iPhones 13 Pro. Cash Prizes include 5 x US$500 each, 10 x US$250 each and finally 10 winners will receive US$150 each.
The “Start your Engines” Promotion and the 100% Deposit Bonus will be up and running until the 31st of December 2021 at 12:00 (GMT+2).
There are certain conditions that traders need to follow to be able to enter the Lucky Draw. For a Cash Prize, they must open a live Mini or Standard MT5 trading account with a minimum of US$100 and trade at least 1 standard lot or 10 mini lots of either FX, Gold, Silver or Cryptos.
For a Grand OR Cash Prize, they are required to open a live Mini or Standard MT5 trading account with a minimum of US$200 and trade at least 2 standard lots or 20 mini lots of either FX, Gold, Silver or Cryptos.
Traders who wish to double their chance to win either a Grand or Cash Prize are required to deposit at least US$200 and trade at least 4 standard lots or 40 mini lots.
In addition to the above Promotion, Global GT also offers traders the chance to earn up to US$1,000 in trading credits, depending on their next transfer-in, with a one-off 100% Bonus. A minimum amount of US$50 is required. The Lucky Date is scheduled for the 7th of January 2022. Winners of Grand Prizes can also opt to swap their prize for Cash.
FP Markets Social Trading allows traders to find, follow and copy successful traders automatically.
Whether you are looking to trade as a Copier or offering trading strategies as a Provider, FP Markets Social Trading ensures you stay in control.
Copy trading removes some of the complexities of trading forex and CFDs and allows customers a more accessible entry point to trading the global financial markets by following successful traders, or Providers. These Providers are ranked by FP Markets based on their profitability over a given period of time and potential copiers have the ability to view their full trading history and past performance.
Not only can traders access 60+ Currency Pairs, they can also trade in more than 50 of the world’s biggest Stocksincluding Facebook, Google, Apple and Amazon. For investors looking for a more diverse product range, FP Markets provides top-class pricing on all the major commodities as well as the world's most heavily traded Indices from the largest global exchanges. For clients interested in Cryptocurrencies - Bitcoin, Ethereum, Litecoin and Ripple are all available.
Craig Allison, Head of Europe, Middle-East and Africa commented “FP Markets Social Trading allows traders to find, follow and copy successful traders automatically. Since its beta launch at the beginning of March, we have experienced huge demand for FP Markets Social Trading with a huge uptake in registrations and increased activity and engagement ratios, especially on social media. We are excited about the emergence of a new class of traders, and their growing interest in Forex Trading and Contracts For Difference (CFDs), who prefer to analyse the performance of experienced traders and replicate their trading behaviour. Adding this functionality to our market-leading pricing and trading conditions, makes FP Markets the go-to broker for both professionals and those who are at the start of their trading journey”
Chief Product Officer, Narayan Joshi, added “There is an increasing trend amongst users towards social trading platforms like this which offer social trading on Forex and CFDs and combine shares, indices, commodities, cryptocurrencies and community. FP Markets Social Trading delivers a high-end solution for serious traders and is also available on all Android and iOS devices for those clients who want to trade on-the-go”
How does Social Trading work?
No need to develop your own trading plan
Follow performance of successful traders in real-time
Mirror trading behaviour of professional traders with a proven track record
Become part of a community that includes traders of all skill levels and choose who you want to copy
FP Markets is a growth case in a large and rapidly growing market and in the fast-paced world of online trading is an award-winning Forex and CFD broker that has consistently stayed ahead of the curve leading the way as one of Australia’s leading Fintech businesses.
ASIC has extended the suspension of the Australian financial services (AFS) license held by Halifax Investment Services Pty Ltd (Halifax) until 8 January 2021.
As we previously reported, on the 14th of January 2019, ASIC has suspended the Australian financial services (AFS) license held by Halifax Investment Services Pty Ltd. Back then it was suspended for a year until January 10, 2020. This followed the appointment of Morgan Kelly, Stewart McCallum and Phil Quinlan, of Ferrier Hodgson as joint voluntary administrators of Halifax on 23 November 2018.
According to the official statement, the terms of the suspension allow the Halifax AFS license to continue in effect for the following purposes only to ensure that clients of Halifax continue to have access to an external dispute resolution scheme and that Halifax continues to be required to have arrangements for compensating retail clients, including the holding of professional indemnity insurance cover. Also, it allows the termination of existing arrangements with clients of Halifax.
Halifax Investment Services Pty Ltd (Halifax), was a financial services licensee headquartered in Sydney with a partially-owned subsidiary in Auckland, New Zealand. It has been providing various financial products in a range of asset classes, including stocks, options, futures, foreign exchange, and contracts for difference; and trade finance and currency exchange services.
GCEX, a provider of digital technology solutions in crypto-assets and multi-segment currencies, joined Matrix NETwork from Gold-i.
GCEX (GC Exchange Limited) was established in 2018 as a part of the GC Group. There was a demand for regulated and compliant exposure to the Cryptoasset market. GCEX is an FCA-regulated and authorized provider of the funds, brokers, asset managers, professional traders and banks with an advanced suite of integrated financial technology products. It includes AI applications, allowing clients to automate on-boarding, offer and trade Cryptoassets and Currencies with tight spreads, deep liquidity from Tier 1 sources and solutions for clearing.
GCEX CEO and Founder, Lars Holst has commented on the launch: “We are very much focused on the new digital economy and, as such, have been really impressed by Gold-i’s vision and commitment to supporting Cryptoasset trading. Gold-i’s clearing model through its Crypto Switch™ truly pushed boundaries and it is their focus on driving uptake in Cryptoasset trading that makes them an ideal partner for GCEX. Having previously worked with Gold-i for many years, I know they are a trusted partner with a proven track record. I am very excited by our partnership.”
Since its creation, the group has been offering funds, brokers, asset managers, professional traders and banks an advanced suite of integrated financial technology products. This includes a focus on advanced AI applications, enabling customers to automate integration, offer and trade crypto-assets and currencies with tight spreads, deep liquidity from tier 1 sources and compensation solutions.
Gold-i CEO, Tom Higgins has added: “GCEX is an ambitious organisation with a very strong proposition. We are delighted that such a pioneering digital asset firm has chosen to partner with Gold-i and join our Matrix NETwork. Our clients will benefit hugely from being able to access GCEX liquidity through Gold-i’s technology.”
ACY Securities, an ASIC regulated multi asset online trading provider has announced the appointment of Alla Darwish as their new Head of Global Brokerage.
Mr Darwish has previously been working in sales and business development in the global FX and CFD markets for 12 years. Now at ACY Securities he will be responsible for recruiting, managing and growing the business development teams in Australia and around the world.
ACY Securities Co-founder and Co-director Jimmy Ye said Mr Darwish will play an important role in executing the growth and development vision for ACY Securities in key global markets.
Mr. Ye has commented on this appointment: “We are very pleased to have Alla Darwish on board. He brings a wealth of experience in developing and managing highly successful sales and BD teams in markets around the world and his appointment will be instrumental in helping us execute our strategic plan in relation to our global expansion.”
Mr Darwish, who formally took his post at ACY Securities last month, said he was delighted to join the company and outlined a number of key factors that would see the brokerage continue on a strong and steady growth trajectory.
He added: “I’m absolutely delighted to join ACY Securities. Being an Australian-based global FX and CFD broker offering superior trading conditions at very low cost of trading, along with strong tech and operational structures, I see tremendous ongoing growth for the company in all key markets including in the APAC region, UK & Europe, MENA region and the Arabian Gulf”.
This is the fourth executive appointment ACY Securities has made in under six months.
