Category: Brokers

Only a week ago we have been informed that HotForex has acquired a license to operate in the UAE and now the broker has revealed that it has got the esteemed Financial Conduct Authority (FCA) license.
The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom.

HotForex is a brand name of the HF Markets (Europe) Ltd. that is authorised and regulated by the CySEC, BaFin Germany, CONSOB Italy, CNMV Spain, FSA Denmark, and more. The name of the HotForex subsidiary in the UK is now HF Markets (UK) Ltd. We have checked the regulator’s register and it shows that HF Markets (UK) Limited, a British subsidiary of the HF Markets Group, as authorised under firm reference number 801701. It also states that “The Financial Ombudsman Service may be able to consider a dispute with this firm. The Financial Services Compensation Scheme (FSCS) may be able to compensate customers if this firm fails.” According to the website, the status effective date was from the 14th of November 2018. You can read our full HotForex review here.
It is a very important move for the HF Markets brokerage group, known by the trading names HF Markets and HotForex. An FCA license means recognition of legitimacy in the UK financial markets and also provides clients with a further guarantee that they’ll be receiving a fair and safe service.

Pepperstone one of the world’s largest brokers,enters the Kenyan forex trading market.

Pepperstone is built on an uncompromising level of service for all its clients, underpinned by some of the best prices and execution speeds in the industry. 

Explore Pepperstone’s products and pricing at Pepperstone.com

Pepperstone Markets Kenya Ltd, a subsidiary of Pepperstone Group Ltd, has now been granted a non-dealing Foreign Exchange Broker License by the Capital Markets Authority of Kenya. Pepperstone is a global leader in the online forex trading industry, offering over 170 tradable instruments via its MT4, MT5 and cTrader platforms to more than 89,000 clients worldwide.

Pepperstone Kenya CEO Sahil Patel noted, “We’re extremely excited by the opportunity to bring world class trading platforms, execution and pricing to the vibrant retail and institutional forex market in Kenya.

“Having traded for international banks over the past decade, I am pleased to offer the same level of product sophistication, pricing, analysis and execution to retail investors as that received by a bank trading desk.”

The launch, which coincides with Pepperstone’s 10th year of operations, is part of a global growth strategy that enables more effective and specific servicing of the fintech’s clients.

Mr Patel said, “Ultimately, what sets us apart from our competitors is our commitment to our clients and great service. We’ve modelled our product suite to empower our traders with all the tools, expert market insight and client service they need to succeed on their trading journey.”

Pepperstone Group CEO Tamas Szabo further added, “Kenya is an important new region for us. It has become a renowned and well-regulated financial services hub in East Africa. The economy is highly developed and embodies entrepreneurship and growth. We very much look forward to doing business in Nairobi and working together with the local regulator and government to develop the industry in a sustainable manner.”

About Pepperstone 

Pepperstone is an award-winning online global forex and CFD broker known for delivering exceptional client service and award-winning funding and withdrawals to tens of thousands of clients around the world.  Pepperstone is regulated by the Australian Securities and Investments Commission (ASIC), the UK Financial Conduct Authority (FCA),Dubai Financial Services Authority (DFSA), CySec, BaFin and The Capital Markets Authority of Kenya (CMA). 

The Goldenburg Group, owners of TopForex brokerage firm, was fined of 170,000 euros by the Cyprus Securities and Exchange Commission (CySEC) recently. The company’s failure to meet compliance standards led to action by the regulator.

According to a statement released by the regulator, the Goldenburg Group failed to maintain adequate records of the services and transactions it provided to customers. The firm received 50,000 euros fine for this failing.

It also received two separate fines of 40,000 euros each for failing to meet regulatory guidelines on honest dealings with clients. One of the fines was not specific in its scope but referenced a broad piece of legislation that indicates that an investment firm should “act honestly, fairly and professionally in accordance with the best interests of its clients.” The other 40,000 euro fine, however, was more specific. CySEC’s statement indicates that this one was given to the firm as it misled clients via its marketing activities.

It added 30,000 euros fine for failing to ensure that third-party companies used by the broker were meeting compliance guidelines. A smaller 5,000 euros fine was put on the firm for failing to meet compliance standards regarding tied agents. The group received another 5,000 euro fine for failing to properly notify the regulator that it was planning to open a new office in a different jurisdiction.

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” Promotion will 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 31^st 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 7^th of January 2022. Winners of Grand Prizes can also opt to swap their prize for Cash. 

Promotions are subject to Terms and Conditions. The Start your Engines Promotion is available to traders who are located in Africa and who are above 18 years of age.

Risk Disclaimer: CFDs are complex instruments and carry a high level of risk of losing money rapidly due to leverage.

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”

Start Copy Trading

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
• No need to make any trading decisions
• Maintain control: Functionality allows multiple copy trading options and risk management strategies
• Completely automated trading
• 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.

Visit and join the FP Markets Social Trading Community!

Download Now: Android (Google Play) | iOS (The App Store)