Category: News

Vantage, an ASIC-regulated foreign exchange brokerage, has extended its services to tap into the emerging opportunities in South Africa, a rapidly growing and dynamic region.

Vantage has successfully obtained a derivatives license from the Financial Sector Conduct Authority (FSCA). This authorization permits the company to function as an OTC derivative provider, enabling it to engage in activities such as originating, issuing, selling, or creating a market for OTC derivatives as part of its regular business operations.

Vantage expressed its interest in operating in South Africa due to various factors, including the favorable business environment and the progressive legal framework for international brokerage firms in the country.

To comply with local regulations, Vantage must appoint registered representatives within the country, including at least one key individual and a compliance officer, to effectively manage company affairs. In line with this requirement, Ted Odigie was promoted to Head of Sales for Africa in November. With over 17 years of experience in the financial services industry, Odigie specializes in business development and client management, joining Vantage in August 2021.

Marc Despallieres, Chief Strategy and Trading Officer at Vantage, commented, "We are delighted to have obtained our FSCA license. South Africa has been our target market, and we were determined to offer traders outstanding financial services and products while adhering to the highest regulatory standards."

Forex brokers in South Africa are overseen by the Financial Sector Conduct Authority, which grants approval to firms operating within the jurisdiction. The FSCA issues licenses and has the authority to impose penalties on companies that violate the guidelines of the nation's dual regulatory system.

South Africa boasts a robust and well-structured financial market, making it an attractive destination for brokers seeking expansion. As one of the top ten global capital markets, it attracts thousands of investors. Furthermore, the market in South Africa offers diversity and is not as saturated as other regions like Europe.

In addition to entering the South African market, Vantage recently expanded its service offerings and trading products by introducing Vantage Connect, a liquidity solution catering to institutions and corporates in the UK.

This move into the B2B market aligns with the current challenges faced by institutional and professional traders when accessing the wholesale foreign exchange price-matching community through a prime brokerage model. Vantage's strategic expansion in the institutional segment aims to meet the growing demand for customized trading solutions.

FP Markets, a prominent broker in Australia specializing in Forex and CFDs, was recently honored with the esteemed title of 'Best CFD Broker in Africa' at the renowned FAME Awards in 2023. This prestigious award serves as a testament to the company's remarkable growth and increasing influence within the African CFD market.

In a grand ceremony held on May 10, 2023, at the renowned Sandton Convention Centre in Johannesburg, South Africa, the Finance Magnates Africa Summit (FMAS23) showcased the best-known names of the financial sector. It was during this event that FP Markets, a leading broker, was honored with the esteemed title of 'Best CFD Broker in Africa.' The award celebrated excellence and innovation within the industry, bringing together prominent figures from the financial world.

This remarkable achievement marks FP Markets' first award in Africa for 2023, following a remarkable string of awards in 2022. These included the unprecedented fourth consecutive win of the 'Best Global Forex Value Broker' title and recognition as the 'Best Forex Broker in Europe.' Notably, this award aligns with FP Markets' regulatory approval by South Africa's Financial Sector Conduct Authority (FSCA) in 2022, solidifying the company's ongoing commitment to delivering an exceptional product and customer experience while maintaining robust regulatory standards across its global operations.

Craig Allison, the Chief Executive Officer of FP Markets, expressed his thoughts on the company's recent award, stating, "Being recognized as the Best CFD Broker in Africa is a significant milestone for our team. This award not only marks our first achievement on the African continent but also showcases our global presence in the Forex and CFD market. Our advanced technology, consistently tight spreads, and award-winning customer support have enabled us to deliver top-notch service to our clients in this dynamic region. Receiving this recognition is a testament to the dedication of our team, and we are excited to expand our footprint in Africa and strengthen our position as the preferred CFD broker for traders worldwide."

FP Markets provides traders with an extensive selection of over 10,000 trading instruments, granting them access to a diverse range of CFDs encompassing Forex, Indices, Commodities, Stocks, ETFs, Bonds, and Cryptocurrencies. This vast offering positions FP Markets as one of the industry's leaders. The broker offers leading trading platforms, including MT4, MT5, cTrader, and Iress, ensuring traders have access to cutting-edge technology.

About FP Markets:

• With more than 18 years of industry experience, FP Markets stands as a multi-regulated broker specializing in Forex and CFDs.
• The company offers highly competitive interbank Forex spreads starting from 0.0 pips.
• Traders can choose from the leading powerful online trading platforms, including FP Markets’ Mobile App, MetaTrader 4, MetaTrader 5, WebTrader, cTrader, and Iress.
• The company's outstanding 24/7 multilingual customer service has been recognized by Investment Trends and awarded the ‘The Highest Overall Client Satisfaction Award’ over five consecutive years.
• FP Markets has been awarded the ‘Best Global Forex Value Broker’ for four consecutive years (2019, 2020, 2021, 2022) at the Global Forex Awards.
• FP Markets has been awarded the ‘Best Forex Broker – Europe’ and the ‘Best Forex Partners Programme – Asia’ at the Global Forex Awards 2022.
• FP Markets has been awarded ‘Best Trade Execution’ at the Ultimate Fintech Awards 2022.

For more information on FP Markets' comprehensive range of products and services, visit www.fpmarkets.com.

As the foreign exchange market continues to grow, there has been a surge in client demand for greater choice and flexibility. In light of this, FP Markets has taken steps to enhance its range of exotic currency pairs. Traders and investors can now engage in trading activities involving the Mexican Peso (MXN), Brazilian Real (BRL), and South African Rand (ZAR) against the US Dollar. This expansion has significantly increased the number of currency pairs available for trading at FP Markets, surpassing 70 in total. By bolstering its comprehensive selection of CFD products, which already includes Commodities, Shares, Indices, Digital Currencies, Bonds, and ETFs, FP Markets aims to cater to the diverse needs of its clientele.

FP Markets now offers the newly added currencies through its MT4 and MT5 Trading Platforms. Traders can access a comprehensive list of these currencies by visiting the dedicated page provided by FP Markets.

FP Markets' CEO, Craig Allison, expressed his thoughts on the launch of the additional currencies, stating that it is a significant step in the company's efforts to enhance its Forex offering and provide traders with more diverse options in the FX market. He emphasized that in addition to the already extensive selection of currency pairs, clients can now access the Mexican Peso (MXN), Brazilian Real (BRL), and South African Rand (ZAR) as base currencies against the US Dollar. This expansion allows traders to diversify their portfolios and take advantage of the growth potential offered by emerging markets.

FP Markets, founded in 2005, is a reputable brand that operates under multiple regulations. It offers a wide range of trading options to clients, with over 10,000 tradable instruments spanning various key asset classes. FP Markets ensures competitive pricing by aggregating rates from several esteemed liquidity providers. Moreover, the company prides itself on consistently offering tight spreads, ensuring rapid execution of trades, and providing unmatched 24/7 multilingual customer support. To accommodate diverse trading strategies and styles, FP Markets offers a variety of Account types.

About FP Markets

• FP Markets is a Multi-Regulated Forex and CFDs Broker with over 18 years of industry experience.
• The company offers highly competitive interbank Forex spreads starting from 0.0 pips.
• Traders can choose from the leading powerful online trading platforms, including FP Markets’ Mobile App, MetaTrader 4, MetaTrader 5, WebTrader, cTrader, and Iress.
• The company's outstanding 24/7 multilingual customer service has been recognised by Investment Trends and awarded ‘The Highest Overall Client Satisfaction Award’ over five consecutive years.
• FP Markets has been awarded the ‘Best Global Forex Value Broker’ for four consecutive years (2019, 2020, 2021, 2022) at the Global Forex Awards.
• FP Markets has been awarded the ‘Best Forex Broker – Europe’ and the ‘Best Forex Partners Programme – Asia’ at the Global Forex Awards 2022.
• FP Markets has been awarded ‘Best Trade Execution’ at the Ultimate Fintech Awards 2022.
• FP Markets crowned ‘Best CFD Broker in Africa’ at FAME Awards 2023

To explore FP Markets' extensive range of products and services in detail, visit the official website at www.fpmarkets.com.

Orbex, a prominent forex and CFD broker that adheres to multiple regulations, has unveiled the introduction of its latest offering: the ZERO Spread Trading Account. This account type will cater to new traders who sign up before September 30th, 2023, for a limited duration. By commencing with spreads, fees, and swaps at zero levels, coupled with a fixed commission fee of $1 per side lot, Orbex aims to offer traders unparalleled trading conditions.

Orbex provides traders with the ability to engage in leveraged CFD trading, granting them direct access to a wide range of underlying assets. These assets encompass forex pairs, major company stocks, global indices, metals, energies, futures, cryptocurrencies, and agricultural products. Considering the prominence and popularity of the forex market, traders often encounter significant trading expenses such as spreads, swaps, commissions, and withdrawal fees, which can limit their potential profits and cause frustration. To address this issue, Orbex has introduced the ZERO Spread Trading Account, designed to offer traders the lowest possible costs and a range of advantageous conditions. This allows traders to optimize their trading portfolios and maximize their potential gains.

Exclusively offered to new traders at Orbex for a limited duration, the newly introduced Orbex ZERO Spread Trading Account allows traders to access Orbex's most favorable terms yet. The conditions include:

• Raw forex spreads starting from 0.0 pips
• Zero swaps applied to overnight positions
• 0% withdrawal fees for all payment methods
• Up to 500x leverage available for forex and gold trading
• A mere $1 commission per side lot for FX trading
• Exceptional execution speeds without requotes
• No commissions are charged on all US shares

Orbex offers a comprehensive range of conditions and services to enhance the trading experience for its clients. These include 24/5 expert support, negative balance protection, and daily market analysis by a world-renowned research team. Moreover, Orbex extends unlimited access to its exclusive Trading Central suite for all active traders. This suite encompasses a robust set of market-scanning tools and expert analytics, empowering traders to identify emerging trading opportunities and enhance their trading strategies effectively. With these powerful resources at their disposal, traders can stay ahead of the market and make well-informed trading decisions.

For opening an Orbex Zero Spread Trading Account or to learn more about it, click here.

About Orbex

Established in 2011, Orbex Global Ltd stands as a prominent global investment services firm, renowned for its exceptional forex and CFD trading services. Recognized for its competitive conditions, Orbex offers a range of award-winning trading solutions. The company's unwavering commitment lies in providing clients with access to cutting-edge trading and investing resources. This commitment is further reinforced through comprehensive educational offerings, expert research tools, and continuous support, enabling clients to navigate the complexities of the global financial markets with confidence.

September 22, 2022
For the unprecedented 4th consecutive year FP Markets has won the “Best Global Value Broker 2022” award. To top it off, FP Markets was also awarded another two awards - “Best Forex Partners Programme” in Asia 2022, and “Best Forex Broker” in Europe 2022.

On 22 September, the 5th ceremony of the Global Forex Awards 2022 took place at the luxurious Marina in Limassol, Cyprus. The ceremony was a good chance for many global businesses with cutting-edge technology, comprehensive market research tools, superior educational programs, and world-class customer service to come together.

Craig Allison, FP Markets’ Head of Europe, Middle East, and Africa expressed his excitement for being awarded the “Best Global Value Broker” for the 4th consecutive year. He stated that this fact emphasizes their persistent and unfaltering devotion to providing the clients with the best trading experience. He also added that receiving the awards for the “Best Forex Partners Program” in Asia and “Best Forex Broker” in Europe for 2022 for the first time is an honor, which proves that their efforts of expanding globally have given positive results. According to his words, these prestigious awards are the best indication that FP Market’s team always strives to provide their clients with the ultimate trading experience.

Traders appreciate the fact that FP Markets offers over 10,000 trading instruments, enabling access to CFDs across Forex, Indices, Commodities, Stocks, and Cryptocurrencies. Besides, FP Markets offers its traders eight platforms, including MT4, MT5 & Iress. FP Markets knows that serious clients look for tight spreads and fast executions, coupled with cutting-edge platforms, a wide product range, and first-rate customer support. Thus, since the year of its establishment, 2005, FP Markets has done its best to satisfy its clients' expectations. Australia’s Best Forex Broker 2020 never ceases to expand its product offering, giving traders the ability to trade under some of the best trading conditions in the industry.

Online broker eToro has issued an update on the distribution of Spark tokens. The broker is supporting the distribution of the Spark tokens by the Flare network to all eligible users.

According to Flare’s latest announcement, there is now a somewhat definite distribution window: the period between October 24 and November 6, 2022. Flare also added that "The exact date will be dependent on feedback from exchanges."

eToro reminds its clients about the eligibility requirements that users of the investment platform must meet in order to receive Spark tokens or the USD equivalent value:

• Users must have held the XRP tokens consecutively between 00:00 on 11.12.2020 GMT, and 00:00 on 13.12.2020 GMT. XRP tokens that were pending deposit or withdrawal at the time of the snapshot were not counted towards a user’s XRP balance. The broker records at the moment of the snapshot are regarded as conclusive evidence.
• The snapshot did not include leveraged positions, CFD positions, short positions, CopyTrade positions or Smart Portfolio positions in XRP, or any cross transactions of XRP with other crypto assets and/or with currencies or such transactions otherwise classified as CFD on the platform.
• Holders of XRP in the eToro Money crypto wallet (formerly “eToro Wallet”) were not included in the snapshot and therefore are NOT eligible for the Spark distribution.
• Users must be fully verified at the time that the snapshot was taken, and must still be fully verified at the time of each Spark or USD distribution.

The Spark token distribution program supported by the broker is subject to regulatory requirements, is not guaranteed to happen, and could be accompanied by further terms, as applicable to eligible users and the mechanics of the distribution. The eligibility criteria and the manner and timing of such distributions are therefore subject to change.

Eligible users have received emails from us in the past, informing them of their eligibility.

The broker notes that its clients in the US who held XRP at the time of the snapshot are still eligible to receive Spark tokens, despite XRP no longer being available on the US platform.

About eToro

Etoro is an Israeli multinational social trading and multi-asset investment company that focuses on providing financial services. The headquarters are located in Central Israel, with registered offices across Cyprus, the UK, the US, and Australia.

eToro provides a wide selection of stocks, currencies, commodities, crypto assets, ETFs and indices through its own innovative investment platform. Using professional tools and analyses on eToro, eToro clients can track and invest in a variety of financial instruments.

For more information read our detailed review on eToro.

The European Union has passed a landmark piece of legislation aimed at regulating the digital asset market. The 28 to 1 member-state lawmakers voted to pass the Markets in Crypto Assets Regulation (MiCA) bill, which will come into effect in 2024.

The Markets in Crypto Assets regulation (MiCA) lets providers of wallets and other crypto services market themselves across the bloc if they register with national authorities and meet minimum guarantees intended to protect investors and maintain stability.

The European crypto industry has broadly welcomed the regulatory recognition, even if there are some qualms over the restrictions it places on the use of stablecoins, crypto assets that seek to maintain their value with respect to fiat currencies, as well over uncertainties about whether the rules will apply to non-fungible tokens (NFT).

The law will enter into force between 12 and 18 months after being published in the bloc’s official journal, which is likely to happen next spring.

The European Union Commission is also looking to supervise the decentralized market (DeFi) market more closely. The authority said that it wanted to consider embedded supervision of the niche.4

The effort would involve a pilot that uses built-in technology to monitor the DeFi market. It indicates that the EU is not done as far as crypto regulations are considered.

The EU’s decision to take the MiCA bill to the last stage of voting signals its intent to regulate the crypto market. There may be more regulation on the horizon as it puts the DeFi under the microscope next. The bill could prompt other countries, such as India and the UK, which have been working on crypto regulation for a long time. 

Denmark-headquartered broker, Saxo Bank announced its intentions on Thursday to become a public company by merging with the blank check company DCAC. The merger will allow for increased access and opportunity in both Europe as well as other parts of the world while still maintaining the quality customer service that has been known throughout this industry all along

Broker’s SPAC partner, DCAC, is listed on Euronext Amsterdam since last October. If the deal is materialised, the Saxo Bank shares will be distributed to DCAC shareholders with the subsequent delisting and liquidation of DCAC, putting Saxo Bank on the Euronext Amsterdam listing. The blank-check company is now seeking approval from its investors and shareholders on the offer.

The broker has detailed that the main purpose of the potential listing is to diversify its shareholders’ base resulting in an increased company profile to accelerate future growth strategy.

“We have a strong ownership, which we hope to strengthen and diversify even further, with full confidence that Saxo Bank is heading in the right strategic direction,” said Kim Fournais, the Founder and CEO of Saxo Bank.

Broker’s current shareholders, Geely Financials Denmark and Sampo Plc are intending to liquidate a limited proportion of their holdings. While some board members of the company and some senior management, including CEO Kim Fournais, are planning to raise their stake in the company.

The potential transaction values the shares of the broker at a pro forma aggregate amount of at least €2 billion.

Saxo Bank is a Danish investment bank specialising in trading and investment. The company operates as a broker with a bank license. The broker is trusted by more than 185,000 clients across the globe with 85+ billion EUR in client assets. For more information visit their official website