FP Markets Lowers Spreads for Major Trading Asset Classes

With the rising demand for cost-effective trading solutions, FP Markets one of popular global multi-asset Forex and CFD brokers, responds with further reduction of its spreads across Key trading instruments it offers to trade.

Christodoulos Psomas, Head of Risk at FP Markets, expressed his excitement about the initiative, stating:

‘Through the continuous optimisation of our trading infrastructure, we have successfully lowered spreads on several key instruments. Implementing this change across our platforms has resulted in a more cost-efficient trading environment for all our clients. We remain committed to maintaining and further enhancing these conditions as our goal will always be the delivery of a superior trading experience’.

To minimize trading costs for its expanding client base, FP Markets has reduced spreads on a variety of widely traded CFD products. These include Spot Gold (XAU/USD), several Major and Minor Currency Pairs, and major Equity Indices such as the Dow Jones Industrial Average (US30), the S&P 500 (US500), and the Nasdaq 100 (US100).

Detailed information on the revised spreads and affected asset classes can be found on the FP Markets website.

Throughout available choice of over 10,000 CFDs aligned with low spreads, fast execution, and access to world-class trading platforms like MetaTrader, cTrader, and TradingView, besides to operation within a multi-regulated trading environment ensuring reliability and trust, FP Markets continues to stand out as the preferred broker among trading and investors community globally.

About FP Markets

Founded in 2005, FP Markets is a multi-regulated brand that offers clients access to an array of over 10,000 tradable instruments spanning major asset classes. Recognized and well-regarded worldwide, FP Markets prides itself on delivering consistently tight spreads, lightning-fast execution providing aggregate pricing from several top-tier liquidity providers, unparalleled 24/7 multilingual customer support, and a diverse range of account types suitable to accommodate various trading strategies and styles.

Read more about Lowest Spread and our FP Markets Review by the link.

TradingView and Spotware Forge Partnership to Boost Broker Integrations

In a significant move that is set to reshape the landscape of online trading, TradingView has announced a strategic partnership with Spotware, an international technology provider. This collaboration is aimed at enhancing the frontend and backend capabilities of both companies, paving the way for increased broker integrations.

Spotware, known for its extensive experience in delivering robust trading solutions, operates globally with over 150 employees across more than ten countries. The company has established a vast network of partners, leveraging its technology to improve credibility and expand market share.

At the heart of Spotware’s offerings is cTrader, a renowned trading platform that supports over 200 brokers worldwide and is trusted by millions of traders. cTrader is celebrated for its user-centric design and commitment to providing premium trading experiences, reflecting Spotware’s dedication to catering to the needs and preferences of traders.

The new partnership will focus on seamlessly integrating the cTrader backend with TradingView’s frontend, streamlining the process for brokers using Spotware’s technologies to connect with TradingView’s extensive trading community. This integration is expected to facilitate growth and expansion for brokers, allowing them to tap into a dynamic and engaged trading audience.

Both TradingView and Spotware have expressed their enthusiasm about the partnership, emphasizing their shared commitment to delivering high-tech, integrated solutions that not only meet the evolving demands of traders but also promote the growth of global broker partners. This collaboration marks a significant step forward in their mission to create a more interconnected and efficient trading ecosystem.

Capital.com Halts Onboarding of UK Clients Amidst Growth Spurt

Capital.com

Capital.com, a prominent Retail FX and CFDs broker headquartered in London, has announced a temporary suspension of new client onboarding in the UK market. The decision, as stated on their website, comes in light of the company's rapid growth trajectory, with a firm commitment to maintaining top-tier standards across all operational facets including systems, controls, products, and services.

This move specifically impacts potential clients of Capital.com's UK arm, Capital Com (UK) Limited, which operates under the regulatory oversight of the Financial Conduct Authority (FCA) with registration number 793714. However, it's worth noting that Capital.com continues to onboard clients through its various entities operating in other regions.

The decision to pause onboarding in the UK raises eyebrows, especially considering the significant expansion efforts undertaken by Capital.com in recent years. The company notably bolstered its workforce, particularly at its London headquarters, with a notable influx of senior professionals, many of whom hail from industry giant IG Group.

This surge in talent acquisition commenced in early 2022, coinciding with the appointment of former IG Group chief, Peter Hetherington, as CEO of Capital.com. However, Hetherington's departure from the company last year saw Kypros Zoumidou stepping in as his successor, bringing with him a wealth of experience from his prior role as Commercial Director International at IG.

Capital.com operates under several licensed subsidiaries across various jurisdictions including the UK, Australia, and Cyprus. The company, along with its sister brand Currency.com, falls under the purview of Victor Prokopenya, a Belarusian legal expert and computer scientist based in London.

While the temporary halt on new client onboarding in the UK may raise questions within the industry, Capital.com continues to reassure existing clients of its unwavering commitment to providing uninterrupted services.

Prop firm The Funded Trader halts payouts amid ‘self imposed internal audit’

The Funded Trader, a leading Miami-based proprietary trading firm, has temporarily halted payouts to clients citing a 'self-imposed internal audit'. This decision follows a series of complications encountered after the firm's migration away from MetaTrader platforms, in response to a crackdown by MetaQuotes on unlicensed services to U.S. retail clients.

Facing a slew of complaints and payout denials reported on various platforms including Trustpilot and social media, The Funded Trader has been suspended from comparison service Propfirmmatch.com. The firm acknowledges the migration to new platforms and brokers has not been smooth, attributing delays in payouts to operational errors during the transition.

In a bid to address the backlog and reassure its clientele, The Funded Trader is conducting a thorough review of all payouts to ensure compliance with its terms of service and anti-gambling policies. The firm is committed to rectifying the migration issues, offering additional compensation to affected traders, and improving the overall client experience.

With over $150 million in payouts to date, The Funded Trader aims to resolve the current issues swiftly, stating, "Quick decisions don’t promote long term success. Our story will be told."

The incident highlights the growing regulatory scrutiny facing prop trading firms, especially concerning their business models and the challenges associated with platform migration.

About The Funded Trader

The Funded Trader offers retail traders the opportunity to manage significant capital, emphasizing performance and adherence to strict trading guidelines. The firm is known for its competitive challenge model, which rewards successful traders with a profit share from funded accounts.

MyFundedFX Partners with Purple Trading to Launch cTrader Platform

MyFundedFX

In a significant move within the proprietary trading sector, Dallas-based MyFundedFX has officially launched its services on the cTrader trading platform, in partnership with Purple Trading Seychelles. This strategic pivot comes in response to the firm's recent termination by its former broker, Blueberry Markets, and marks a new chapter for the retail prop trading firm with the Cyprus-based broker Purple Trading’s offshore division.

The shift to cTrader, facilitated by CFDs broker Purple Trading Seychelles, emerges amidst a broader industry trend where prop trading firms are actively seeking alternatives to MetaQuotes' MT4 and MT5 platforms. These platforms have been the cornerstone of retail trading activity for numerous firms, including Blueberry Markets. However, MetaQuotes has pressured brokers to discontinue their prop trading services on these platforms, threatening the withdrawal of MT4/MT5 licenses.

MyFundedFX's transition to cTrader is part of a larger movement among prop firms to adapt to these market changes. Competing platforms like Devexperts’ DXtrade and Match-Trade Technologies’ Match-Trader have also been considered by firms seeking new trading solutions. The firm also announced that all accounts previously under Blueberry Markets would be migrated to a new platform by Friday, March 8, away from the traditional MT4 and MT5 systems. MyFundedFX has indicated Match-Trader as the default migration platform, praising its performance in tests and its user-friendly interface, while also offering traders the option to switch to DXtrade or cTrader.

Established in June 2022 and led by CEO Matthew Leech, MyFundedFX stands out in the prop trading industry not only for its quick adaptation to regulatory and market shifts but also for its broad vision. Leech, who also helms MyFundedFutures and co-owns Swift Funding, has been proactive in ensuring that the firm remains at the forefront of trading technology and brokerage partnerships.

This move signals a significant realignment within the retail and proprietary trading spaces, as firms navigate the challenges and opportunities presented by regulatory pressures and platform limitations. MyFundedFX's adoption of cTrader with Purple Trading Seychelles highlights the firm's commitment to providing its traders with robust, versatile trading platforms that cater to their evolving needs in a dynamic market environment.

ThinkMarkets Expands Global Reach with New DFSA License in Dubai

ThinkMarkets

In a strategic move to broaden its market presence, Melbourne-based brokerage firm ThinkMarkets has successfully acquired a license from the Dubai Financial Services Authority (DFSA). This significant milestone, announced on March 1, 2024, marks the company's latest expansion, positioning it within the prestigious Dubai International Financial Center (DIFC).

The newly obtained DFSA license paves the way for ThinkMarkets to offer its comprehensive suite of FX and CFDs products not only to clients in the UAE but also across the GCC states—including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia—and extend its services to North Africa. The DIFC, known for its independent legal system and financial autonomy within the UAE, provides an ideal backdrop for ThinkMarkets to extend its reach.

The move comes when the DFSA has reported a surge in interest from global brokers and authorized firms looking to cater to retail FX trading within the DIFC. ThinkMarkets co-founder Faizan Anees expressed enthusiasm about the acquisition, highlighting the UAE and wider MENA region's potential for growth. Anees emphasized the company's commitment to offering a secure, regulated trading environment, powered by its proprietary platform, ThinkTrader, and a vast selection of trading instruments.

Obtaining the DFSA license was no small feat, given the stringent guidelines set by the regulatory authority, especially concerning AML compliance and the prohibition of transactions in UAE Dirhams within the center. ThinkMarkets had to navigate through a complex legal framework, demonstrating its adherence to high standards of risk management and operational integrity.

This expansion follows ThinkMarkets' recent decision to terminate its merger plans with Canada-listed FG Acquisition Corp, a move that had previously caught the industry's attention. Despite this, ThinkMarkets continues to demonstrate robust financial health, with a reported revenue of $62 million in 2022.

As a globally recognized online forex brokerage, ThinkMarkets holds licenses from the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC), among others. The firm has been on an expansion spree, extending its services to South Africa and Japan, further solidifying its position as a leading player in the forex trading industry.

The new DFSA license not only enables ThinkMarkets to enhance its service offerings in the MENA region but also sets a precedent for its continued growth and dedication to providing a premier trading experience to its clients worldwide.

Eightcap Clarifies Misconceptions Around Service to Prop Trading Firms

Eightcap

In a recent development, Eightcap, an Australia-based Retail FX and CFDs broker, has addressed what it calls misleading reports about its brokerage services to proprietary trading firms. The statement comes in response to widespread speculation that the broker was severing ties with all prop trading entities.

In a clarification issued on LinkedIn, Eightcap's CEO, Alex Howard, emphasized the broker's routine practice of evaluating its commercial and operational partnerships, stating that revising or terminating certain agreements is a standard industry practice. Howard's message sought to reassure stakeholders, affirming that for Eightcap, it's "business as usual," and expressed continued enthusiasm for the future of the CFD, Forex, and Prop trading sectors.

The confusion arose after a series of announcements from retail prop trading firms, which have utilized Eightcap for client transactions. These firms shared that they were notified by Eightcap of the termination of their brokerage services, with a deadline set for February 29 to secure alternative brokerage arrangements.

Adding to the controversy, the CEO of Lark Funding, known online as Matt L (@MeetMattL on X, the platform formerly known as Twitter), disclosed in a now-deleted tweet that Eightcap would discontinue offering services to his firm by the end of February. This move by Eightcap seems to indicate a selective termination strategy towards certain prop trading firms, rather than a blanket withdrawal from servicing the prop trading industry.

This clarification from Eightcap arrives amidst growing scrutiny of the retail prop trading market. Several prop trading firms, notably popular among the retail CFD trading community, have paused operations, either temporarily or permanently. This trend is attributed to challenges posed by broker or platform provider decisions, affecting firms like Funding Pips, Funded Engineer, and True Forex Funds.

Eightcap's statement seeks to dispel fears and clarify its position within the evolving landscape of the prop trading industry. As the firm navigates through its partnership strategies, the broader market watches closely, anticipating the implications for traders and firms alike in a sector known for its dynamic and competitive nature.

IC Markets Introduces Zero Brokerage Fees with Launch of IC Shares

IC Markets

In a strategic move set to enhance the investing experience for Australians, IC Markets has unveiled its latest offering, IC Shares, accompanied by an enticing promotion of zero brokerage fees. The announcement, made on January 30, 2024, by Gerald Segal, marks a significant milestone for the Australian share market, already on an upward trajectory.

IC Markets, a frontrunner in the realm of online trading and investing, is extending this promotion to investments in companies listed on the ASX and CBOE (Chi-X). This initiative, part of the IC Shares launch, aims to provide investors with seamless access to these prominent exchanges, underscoring the firm's dedication to enriching the trading landscape.

The introduction of zero brokerage fees presents a golden opportunity for Australian investors to engage with their preferred companies without incurring the typical transaction costs. However, this offer is only available for a limited period and comes with specific terms and conditions.

To facilitate a secure and efficient investment journey, the broker has collaborated with FinClear, a testament to their commitment to delivering a superior user experience. Since its inception in 2007, the broker has played a pivotal role in narrowing the divide between retail and institutional clients, continually evolving its service offerings to cater to a broad spectrum of trading preferences and strategies.

Andrew Budzinski, CEO of IC Markets, emphasized the launch of IC Shares as a pivotal advancement towards fulfilling the company's pledge to its clientele. The move not only expands their product range to include ASX and CBOE Shares but also reaffirms their promise of providing state-of-the-art trading platforms and invaluable tools tailored to various trading styles.

Investors keen on leveraging this unique offer are encouraged to visit the IC Markets website for more details. While the promotion of zero brokerage fees is for a limited time, investors are advised to review the IC Markets Share Trading Account Terms and FSG for comprehensive information on applicable fees.

eToro Stops Support for Long Non-Leveraged CFD Crypto Positions in Australia

etoro

In a significant shift in its service offerings, the online trading platform eToro has announced that it will cease supporting long non-leveraged CFD positions for cryptocurrencies in Australia. This change is set to take effect from February 19, 2024.

Following this date, eToro will automatically close any remaining open long non-leveraged CFD positions in cryptoassets at the prevailing market value. This decision marks a notable transition in the company's approach to crypto trading in the Australian market.

For users who wish to close their non-leveraged long CFD positions in cryptoassets before the February 19 deadline, eToro has offered a pathway. Clients can close their CFD positions and subsequently open equivalent positions in real cryptoassets. An added benefit for those making this switch is the absence of overnight fees, which are typically charged on CFD positions.

  • To ease the transition for its clients, eToro has introduced an incentive. The firm will credit the spread costs incurred when purchasing the real crypto position, up to the amount of the original trade size. This is conditional on the new trade opening within 30 minutes of closing the CFD position. The credited amount will be directly added to the user's account within eight business days.
  • The process for transitioning from CFD to real crypto positions involves several steps. Users must log into their eToro account, identify their non-leveraged long crypto asset positions marked with a red CFD symbol, close these positions, and immediately reopen equivalent trades as long positions with 1x leverage. These will then be considered real crypto positions. Any non-leveraged long cryptoasset positions held as CFDs that remain in an account on February 19 will be automatically closed.

eToro has cautioned that the amount invested in the reopened real crypto position can be changed, but the fee reimbursement will only cover up to the original trade size amount. The company has also reminded its clients that real crypto is a non-regulated product without investor protections.

Lastly, eToro highlighted the potential tax implications of these transactions. They have advised clients to consult with tax advisors for more information on how these changes might affect their tax obligations.