A New Dedicated News-Portal Has Arrived: Axiory Intelligence

Axiory has launched a new market news provider in the Fintech industry, Axiory Intelligence. The brain-child of global fintech company Axiory, it is an independent, dedicated, market news portal for traders, investors, and all financial enthusiast.

Axiory Intelligence serves as a reliable source for up-to-date, fast, and relevant content for traders to stay informed on the latest in global markets, especially news that can affect their trading. The website provides its users with various video updates, webinars, articles, technical analyses, chart analyses, general market information, NFP watch, and educational articles. 

The industry’s newest news provider was designed to fulfill an obvious need among traders; knowledge, and information. While there are many well-established news providers in the industry, Axiory Intelligence is based upon the principle of being built by traders. Axiory has years of experience in the industry with several fintech companies including its dedicated broker, Axiory Global. The interaction with the broker’s clients highlighted the fact that when it comes to making trading decisions, traders prefer information and news updates over any other trading tools. With a team of experts and analysts on hand, Axiory developed the independent, dedicated market news and analysis provider. 

Beyond news, the website will offer a plethora of educational pieces and webinars, which will only continue to grow over time. All this offering serves as part of Axiory’s mission to keep giving back to the trading community in an attempt to enhance traders’ knowledge, experience, and ultimately their success. The news provider is designed with the trader in mind, from the interface, viewer journey, type of information provided, and market alerts. Everything is designed to allow traders to swiftly find relevant information when they need it.

As mentioned above, the team behind Axiory Intelligence comes from a trading background; from its CEO and Director Tomasz Wisniewski to every analyst, market researcher, and educator. Simply put, Axiory Intelligence is by traders, for traders. 

Tomasz Wisniewski, CEO and Director of Axiory Intelligence

“Axiory Intelligence is more than just a news provider; it is a space created by traders for traders, and this entire initiative orbits around this principle. Our brokerage, Axiory Global has always been an integral part of the trading industry and we’ve boasted a fantastic team of specialists. Axiory Intelligence is an extension of our experience in the market and the ideal complement to the core values of Axiory: fairness, transparency, care for all stakeholders, traders being the most important. Hence the decision to create an independent, unbiased team of financial markets’ experts, which will operate in a fully dedicated environment, providing the general public with unique quality content and education. We truly believe that it is our duty as market practitioners to help the industry grow in a sustainable way, and independent research and quality education are key to achieve such a goal” Axiory CEO and Director Roberto d’Ambrosio commented about this new development.

FSCA temporarily suspends JP Markets forex trader’s licence

The Financial Sector Conduct Authority (FSCA) has temporarily suspended the financial service provider (FSP) licence of a forex trader, JP Markets. The regulator investigates the trader’s alleged breach of certain laws in the financial sector. During the period of JP Markets provisional suspension, it is also not permitted to take on any new business. 

According to the official statement, there was a conflict situation between the trader and its clients. It has allegedly been tampering trading conditions to minimise some high-level clients’ earnings and instead maximising its own. The trader has also amassed a huge number of complaints from its clients for the past year. The clients mostly complain about company’s failure to honour client withdrawal requests and losses due to not having a constant access to the trading platform. Due to these events, the FSCA stated that there is reasonable belief that substantial prejudice to clients or the general public may occur if they continue rendering financial services.

The regulator is now moving to have the trader liquidated, and has filed papers to this effect with the High Court in Johannesburg. While on suspension, JP Markets are not permitted to take on any new business or clients or render any services; however, it is not prohibited from processing client withdrawals. The firm had to inform all affected clients of the recent events. The FSCA’s investigation is currently on-going and any new findings will be made public.

JP Markets logo

The public is further warned that JP Markets is not authorised as an OTC derivative provider and therefore is not permitted, as a regular feature of its business and acting as principal to; originate, issue, sell or make a market in OTC derivatives. The investigation in respect of JP Markets is currently on-going.

The head of the FSCA business supervision division, Kedibone Dikokwe, explained the nature of the investigations. According to her, JP Markets allowed its clients to access a platform to trade in contracts for difference (CFDs), and to deposit their funds into its bank accounts. These deposits would then seemingly allow the clients to trade in forex CFDs, enter transactions, and make profits or losses depending on how the underlying forex exchange rose or fell. However, it transpired these clients were not trading on an online decentralised global financial market, but merely on a software application that the firm acquired ready-made and pre-programmed, that recorded these trades. According to Dikokwe, these clients were in fact purchasing CFDs issued by JP Markets, for which the trader by law required an OTC derivative provider licence. Without one, the trader is not permitted, even under regular features of its business, to originate, issue, sell or make a market in OTC derivatives.

FSCA warns the public against Tradehedges 

In another case, the FSCA also warned the public against entering in any financial business with Tradehedges. It received information by concerned members of the public that this trader claimed to be an authorised FSP, operating under a false FSP number and licence, and allegedly displayed a certificate claimed to have been issued by the FSCA back in 2017 when it was still the FSB (Financial Services Board). According to FSCA, it researched its records, and subsequently found that Tradehedges is not an authorised FSP nor a juristic representative, and no records of any applications for such exist, or of the licence number in question.

The FSCA again strongly advised members of the public to check that a trader is registered with it and to verify which categories it is permitted to trade and advise in, before entering any business or trade agreements, or depositing any funds to into any bank accounts these traders proffer.

Financial Options AFS licence has been cancelled by ASIC

ASIC has cancelled the Australian Financial Services (AFS) licence of Financial Options Pty Ltd (Financial Options) and also has permanently banned Queensland-based financial adviser Mr. William John Henry Houwing from providing financial services. Previously, in August 2019 we talked about the suspension of the company’s license.

Mr. Houwing, of Esk, was a director and authorised representative of Financial Options. ASIC found that between 31 August 2006 and 15 May 2019, Mr. Houwing arranged for his clients to lend money to his related entities, including: Belbrooke Pty Ltd as trustee for the Belbrooke Administration Trust; Belbrooke Pty Ltd as trustee for the Belbrooke Mortgage Trust; and Ochkit Pty Ltd as trustee for the Houwing Family Trust.

ASIC has found several misconducts in Houwing actions. According to official statement, Mr. Houwing failed to act in the best interests of his clients by recommending that they allow their self-managed superannuation funds (SMSF) to lend money to his related entities. He also arranged loans from clients for his own use, and in some cases, benefited when he failed to repay the loans on time. Houwing had a conflict of interest as both a financial adviser and the recipient of the loans and failed to prioritise the interests of his clients over his own interests. He is not considered to be an adequately trained or competent to provide financial services and is not of good fame or character.

ASIC Commissioner, Danielle Press has commented, “The failure of financial advisers to act in the best of interests of their clients or to prioritise their clients’ interests over their own, not only harms their clients but also erodes public trust in the financial system. ASIC expects financial advisers to uphold the values of integrity and professionalism.”

The cancellation of Financial Options’ AFS licence follows the suspension of the licence on 26 August 2019, following concerns that Financial Options was not meeting its obligations as an AFS licensee. 

In cancelling the AFS licence, ASIC found that Financial Options had not complied with its financial requirements and had not done all things necessary to address ASIC’s concerns in relation to organisational competence, human resources and compliance requirements.

Mr Houwing’s banning will be recorded on ASIC’s publicly available Financial Advisers Register and the Banned and Disqualified Persons Register.

Mr Houwing and Financial Options have the right to seek a review of ASIC’s decision by the Administrative Appeals Tribunal.

FXCM has announced a new partnership with TradingView

FXCM review

FXCM Group, LLC, one of the leading international brokers of foreign exchange trading, CFD trading, cryptocurrencies and related services, has launched an API-powered integration with TradingView, Inc., the all-in-one financial platform for traders in the equity, cryptocurrency, futures, and FX markets.

The integration means that FXCM users will be able to execute orders directly from the TradingView platform. With access to TradingView’s powerful charting tools, advanced data analytics, and user generated research, customers will now have the option to gather new sources, assess market moves, and trade in real time.

Chief Marketing Officer at FXCM Group, Sameer Bhopale has commented on the partnership: “Our integration with TradingView will bring sophisticated tools to the FXCM portfolio, ensuring our customers have access to as much technology and information as possible. This partnership will further enhance FXCM’s long standing mission of providing excellent customer experience to the highest degree.”

Denis Globa, CEO of TradingView, commented: “Through partnering with a long-standing broker like FXCM, we look forward to seeing our community of traders engage with new markets and trade in real time. Our products continue to improve as we combine the global reach of both our offerings.”

About FXCM

FXCM is one of the pioneer providers of online trading, foreign exchange or Forex trading, CFDs, Stocks, Commodities, Indices and spread betting. Founded in 1999, the company’s main aim was to provide global traders with access to the world’s largest liquid market through innovative trading tools. The FXCM LTD is authorized and regulated in the UK, Australia and South Africa. You can read our full FXCM review here.

Sydney FC Renew AETOS Partnership For AFC Champions League

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Sydney FC has renewed its partnership with AETOS Capital Group for a third consecutive AFC Champions League campaign.

The deal will see the Australian Forex broker continue to be the Principal Partner of Sydney FC for Asia’s most prestigious club competition.

The AETOS logo will take pride of place on the front of the Sky Blues’ home and away kits during the AFC Champions League 2020 tournament which begins with Wednesday’s match in Japan against J-League Champions Yokohama F. Marinos.

AETOS has supported the Sky Blues since their AFC Champions League 2018 campaign, and this new sponsorship will continue to consolidate both the club and AETOS’s influence in the Asia-Pacific market.

Sydney FC Chairman Scott Barlow welcomed AETOS’s extension, with the club looking forward to their fourth campaign in five years in the Asian tournament.

Scott Barlow has commented on the event: “We are delighted to be renewing our partnership with AETOS for a third consecutive AFC Champions League campaign. We have built an incredibly strong relationship with AETOS and the continuation of our sponsorship is proof of the mutual trust and understanding between our two organisations. It is further evidence of the strong and healthy long-term commercial network we have at Sydney FC.”

Senior Vice President Councillor Mike Thomas from AETOS Capital Group added: “AETOS is proud to be continuing as the Principal Partner of Sydney FC for a third successive AFC Champions League tournament. We have an extremely healthy partnership with Australia’s number one football club and we are heavily committed in our support of the Sky Blues on their 2020 campaign in Asia,” he continued. We wish Sydney FC’s players and staff well in their quest and are looking forward to seeing more Sky Blue success.”

AETOS is a global provider of FX and CFDs that gives its clients access to a wide range of markets including forex, metals, energy, and indices while serving their clients through corporate headquarters in Sydney Australia and serving global presence through London, UK office and customer support office in China. You can read our full AETOS review here.

The FCA Board announced about two new appointments

FCA Regulator

The FCA has today confirmed the appointment of two new Non-Executive Directors to the Financial Conduct Authority (FCA) Board.

Jeannette Lichner and Bernadette Conroy will each serve three-year terms beginning on 1 April 2020 and 1 August 2020 respectively. They will join the Board as Amelia Fletcher OBE and Catherine Bradley CBE step down following the end of their terms as Non-Executive Directors, having served since April 2013 and August 2014 respectively. 

Bernadette Conroy has a senior manager and non-executive experience in organizations in both the public and private sectors, including financial services. Her current roles include being Chair of a Housing Association and a Non-Executive Director for Community Health Partnerships.

Jeannette Lichner has a background in international financial services and has held senior leadership roles in a number of major financial organisations. Her current roles include being a Non-Executive Director at Miller Insurance Services.

Amelia Fletcher will also step down as a Non-Executive Director of the Payment Systems Regulator (PSR). Nick Stace, who was appointed in April 2017, has also stepped down from the FCA and PSR Boards as of 29 January 2020.

Current FCA Chief Executive Andrew Bailey will stand down from both the FCA and PSR Boards on 15 March.

The Economic Secretary to the Treasury, John Glen, said: ‘The work of the FCA is crucial in ensuring we continue to have a world-leading financial services sector. I am therefore delighted to announce the appointments of Bernadette Conroy and Jeannette Lichner to the FCA Board. Their expertise and knowledge will be highly valuable to the FCA as it carries out its vital role.’

Chair of the Financial Conduct Authority, Charles Randell, said: ‘I’m delighted to welcome Jeannette and Bernadette to the FCA Board. They have extensive combined experience both in financial services and a range of public service organisations. I would also like to thank Amelia, Catherine and Nick for their valuable support and challenge to the FCA.’

The new members will bring a variety of experience and knowledge to the Board.

HotForex teamed up with Santos E-Sports

The award-winning forex and commodities broker on CFDs, HotForex partnered with the Santos e-Sports, one of the world’s biggest electronic sports teams, announcing about the launch of the very first broker and esport partnership.

Santos HotForex e-Sports, the esports division of Santos FC, has become one of the world′s biggest electronic sports clubs in just one year and made its mark on a variety of games.

The year-long partnership with Santos e-Sports means that the team will become Santos HotForex e-Sports and display a dedicated combined logo in all their upcoming tournaments, promoting the HotForex name to their millions of spectators.

HotForex CEO George Koumantaris said: “We see a lot of parallels between trading and the fascinating world of esports, and look forward to exploring how realistic goal setting, effective emotional control and the right mindset can help players both on the field and in the market.”

About HotForex

HotForex is a multi-asset broker that offers forex and commodities through CFDs trading services. The company established in 2010 while headquarters in Cyprus, but in addition serves several global offices along with different licenses, which enhances their offering to another world client, established in St. Vincent and the Grenadine as an International Broker Company, in Mauritius and South Africa. HotForex is a brand name of the HF Markets (Europe) Ltd. that is authorised and regulated by the CySEC, FCA UK, BaFin Germany, CONSOB Italy, CNMV Spain, FSA Denmark, and more. Most recently, HotForex was selected to join the ranks of the World Finance Top 100 Global Companies. You can read our full HotForex review here.

GCEX and PrimeXM launch a new liquidity distribution partnership

GCEX, a leading provider of digital technology solutions in crypto-assets and multi-segment currencies, has announced integration with PrimeXM’s XCore. PrimeXM is one of the leading technology B2B providers to the retail and institutional electronic e-trading industry, delivering cutting-edge aggregation and execution management software – XCore.

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.

The PrimeXM partnership now allows participants of the XCore community to access GCEX liquidity which includes digital assets and FX. The XCore system is an ultra low latency order routing pricing and execution engine which provides institutions the opportunity to connect to a wide range of liquidity providers. Furthermore, XCore is installed and managed by PrimeXM’s infrastructure in Equinix data centers (LD4, NY4, TY3), allowing for the efficient management of the entire brokerage business in a centralized low-latency environment.

GCEX CEO and Founder, Lars Holst commented, “We are excited to enter into this partnership with PrimeXM and integrate GCEX’s digital asset and FX liquidity within the XCore trading infrastructure and community. XCore has proved to be an extremely popular venue amongst GCEX’s institutional client base and we are confident that PrimeXM’s market-leading technology will complement our extremely competitive pricing to provide GCEX’s clients with a first-class trading experience”.

PrimeXM COO, Galin Georgiev commented, “We are excited to have this integration with GCEX and welcome them as a liquidity provider into our growing XCore trading community. Our Clients will be able to benefit from such partnership and enjoy cost-efficient and low-latency connectivity to execute in digital assets and FX, supported by the experienced team behind GCEX”.

GCEX has previously partnered with the institutional liquidity provider Gold-i.

Gold-i and Tradesocio launched a new partnership

Gold-i, a global fintech firm has announced a partnership with a leading technology provider for the financial industry Tradesocio. The main concept of this partnership was the integration of the Matrix, Gold-i’s multi-asset liquidity management and aggregation solution, into Tradesocio’s Marketplace. There are some other Gold-i products that have been added, including its risk management and business intelligence tool, Visual Edge.

Tradesocio offers trading and investment management platforms to financial institutions worldwide and provides a secure and transparent trading environment with real-time reporting and reliable risk management for investment banks, fund or asset managers and investment advisors. It enables both financial organisations and investors to benefit from a single view of their net asset value, equity and risk exposure in real-time.

Tom Higgins, CEO at Gold-i stated, “Partnering with Tradesocio extends Gold-i’s offering to investment banks and fund and asset managers, and enables Tradesocio’s clients to benefit from Gold-i’s innovative products. Tradesocio has built an impressive platform for financial institutions worldwide and we look forward to working with them and their clients.”

Wael Salem, CEO at Tradesocio added, “Gold-i is one of the few companies out there that deliver consistently reliable products to all their clients, and we are very pleased to have formed this partnership. We have been impressed by Gold-i’s continual focus on driving the market forward, specifically in terms of their multi-asset liquidity management solutions. In particular, we believe our clients will benefit from their ultra-low latency smart routing products and direct connections to high-quality multi-asset Liquidity Providers. Both Gold-i and Tradesocio take great pride in ongoing innovation and high service levels – there are a lot of synergies in our partnership.”

FSMA reported the total of € 2,249,602 fines in 2019

In 2019, the FSMA (Financial Services and Markets Authority) imposed 13 administrative sanctions for breaches of financial legislation, for a total cumulative amount of € 2,249,602.

According to the official statement, since 2013 and the implementation of a new sanctions procedure, the FSMA has imposed no less than 73 administrative sanctions, for an amount that exceeds 18 million euros. Several of these sanctions concerned breaches of the law on market abuse.

In a recent report by ESMA (the European Financial Markets Authority), it also appears that under the new regulations on market abuse, Belgium is the European country that has imposed the most sanctions for insider trading in 2018. 7 of the 13 administrative sanctions imposed in 2018 in Europe for insider trading were in fact imposed by the FSMA.

When the FSMA finds breaches of financial legislation, it can impose administrative sanctions. If serious indications of the existence of a practice likely to give rise to an administrative fine are observed, the FSMA instructs the auditor to examine the file . Such a decision may be taken on the basis of indications transmitted by the FSMA supervisory services or, for example, following a complaint or a report. In 2019, 18 new investigation files were thus opened.

Within the European Union, Belgium is the country that has been the most active in the fight against insider trading. This is what emerges from a recent report by ESMA, the European financial market authority. This report, published in December 2019, provides an overview of the sanctions and other measures imposed in 2018 by the different member states of the European Union in application of the provisions on market abuse.