Hantec Group, a London and Hong Kong-based financial services provider, has entered the thriving world of proprietary trading with the introduction of Hantec Trader, a proprietary trading firm. Read our article about Prop Trading Firms
Hantec Trader, operating through Hantec Markets, a Mauritius-based brokerage firm, offers traders a unique opportunity. It provides proprietary trading accounts with initial capital, allowing traders to explore various asset classes without risking their funds.
The company is set to offer two certification courses: the "Enhanced Challenge" and the "Express Challenge." Successful completion of either challenge grants traders access to a live trading account with up to $200,000 in balance.
Once certified, traders can enjoy trading with ultra-low commissions and spreads using MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, retaining up to 90% of their profits. They will also access a comprehensive dashboard for data and actionable insights to enhance their trading strategies.
Andrew Speakman, Sales Director at Hantec Trader, expressed the company's goal of offering financial freedom: "Our launch of Hantec Trader aims to provide a low-risk, low-cost way for individuals to participate in global financial markets."
Hantec Markets, the parent company, is led by Bashir Nurmohamed, an industry veteran with a track record at ODL Securities and Rosenthal Collins. Founded in 2010 with backing from Hantec Group founder Tang Yu Lap in Hong Kong, this partnership has allowed Hantec Group to expand into proprietary trading.
Hantec Trader's introduction marks a significant development in prop trading, offering traders a platform for skill development and profitable trading strategies. With its strong reputation and regulatory commitment, Hantec Group is poised for success in this dynamic sector.
In a groundbreaking move to start 2024, MultiBank Group, a renowned online financial derivatives company, has unveiled its state-of-the-art mobile application, MultiBank-Plus, along with a newly redesigned website. These launches are part of a comprehensive rebranding initiative, underscoring MultiBank Group's dedication to enhancing customer experience.
The MultiBank-Plus app is a pivotal innovation in the world of online trading. Designed with a user-friendly interface, the app simplifies the trading process, enabling users to open an account in just three minutes. This all-encompassing platform is crafted to provide users with the necessary tools for making informed financial decisions, all from the convenience of their mobile devices.
Presently, MultiBank-Plus is exclusively available in selected countries, including Mexico, Colombia, Germany, Switzerland, the UK, Italy, and the Kingdom of Saudi Arabia.
In parallel with the app launch, MultiBank Group has also transformed its website, showcasing its commitment to a seamless, user-friendly online experience. The revamped website features modern design elements and enhanced navigation, allowing clients to effortlessly access a wide array of financial services and products offered by the company.
Marc Aspinall, the Chief Commercial Officer of MultiBank Group, expressed his excitement about the new offerings. "The introduction of MultiBank-Plus and our website's transformation is a testament to our continuous effort to excel in the finance sector. We are confident that these advancements will significantly improve user experience and herald a new chapter for MultiBank Group in 2024," he stated.
Significantly, MultiBank Group and its subsidiaries adhere to stringent regulatory standards, being regulated by over 14 authorities worldwide, including notable ones like SCA, MAS, CySEC, ASIC, CIMA, and more. This highlights the company's dedication to maintaining the highest levels of security, transparency, and compliance in its global operations.
About MultiBank Group
Established in California, USA, in 2005, MultiBank Group has emerged as a leader in the online trading industry. It boasts a remarkable daily trading volume of over US $12.1 billion and serves a diverse clientele of more than 1,000,000 customers across 100 countries. MultiBank Group offers award-winning trading platforms, providing up to 500:1 leverage on products including Forex, Metals, Shares, Commodities, Indices, and Digital Assets. For further information, visit MultiBank Group's website.
Interactive Brokers, a leading player in electronic trading, has announced the introduction of the Tax Loss Harvest (TLH) tool for its retail traders. This innovative feature aims to simplify the process of realizing tax benefits from both long- and short-term capital losses.
The TLH tool is seamlessly integrated into the trading platform. To activate it, traders need to right-click on a position and select 'Tax Loss Harvest.' For those interested in Multi-Stock harvesting, it's accessible through the Classic Layout of the TWS (Trader Workstation) platform. Simply navigate to the Portfolio page and click on 'Tax Loss Harvesting' located at the top right corner. It's important to note that Multi-Stock TLH is currently only available in the Beta version of TWS.
Furthermore, Interactive Brokers has introduced the Feature Suggestion tool within the TWS platform. This tool allows users to directly communicate their desired features to the developers and vote on suggestions made by other users. Accessing this tool is straightforward; users can click on the Feedback icon in the TWS title bar and select “I have a suggestion.”
In a move to enhance futures trading, the brokerage has also streamlined the process of rolling a futures position. This typically complex procedure, which involves closing one position and opening a new one in the same contract with a more distant expiration date, has been simplified into an easy-to-follow flow using the new Futures Roll feature.
These new tools and features reflect Interactive Brokers' commitment to providing its users with a more efficient and user-friendly trading experience. By continually evolving its platform and incorporating feedback from its community, Interactive Brokers is setting a new standard in the world of electronic trading for retail investors.
The Financial Conduct Authority (FCA) of the United Kingdom has today issued a critical warning to investors and the public regarding a fraudulent XTB clone firm impersonating the well-known online brokerage, XTB. This clone, operating under the name 'XTB Trading World,' is not authorized by the FCA and has been actively engaging in deceptive practices.
Clone firms are illegitimate entities that mimic the identity of authorized firms, utilizing their addresses, licenses, logos, and other identifying details. Their primary aim is to deceive potential victims more easily, capitalizing on the reputation and trust associated with the genuine firms. However, it is crucial to note that these clones have no affiliation with the legitimate businesses they impersonate.
The fraudsters behind this specific clone have been contacting individuals, falsely representing themselves as an authorized entity. The FCA has released the following details of the clone firm to alert the public:
Name: XTB Trading World (Clone of FCA Authorised Firm)
Telephone: +447424912789
Email: tradewithxtb@outlook.com
To provide clarity and prevent any confusion, the FCA has also provided information about the legitimate, authorized firm, XTB Limited, which has no connection whatsoever with the clone firm:
Firm Name: XTB Limited
Firm Reference Number: 522157
Address: Level 9, Office 9.12, One Canada Square, Canary Wharf, London, E14 5AA, UNITED KINGDOM
The FCA warns that interactions with clone firms like 'XTB Trading World' carry significant risks. Those who transact with such entities will not have access to the Financial Ombudsman Service for complaints nor be protected by the Financial Services Compensation Scheme (FSCS). Consequently, in cases of financial loss or firm insolvency, it is unlikely that victims would recover their funds.
The FCA strongly advises individuals to verify the authenticity of any financial service provider before engaging in any form of transaction or investment. This warning serves as a reminder of the persistent threat posed by clone firms in the financial sector and the importance of vigilance among investors and the public.
In the wake of a recent crackdown on financial misconduct and money laundering activities, Prospero Markets, an Australian-based Retail FX and CFDs broker, has found itself in hot water. The Australian Securities and Investments Commission (ASIC) has taken decisive action by suspending the company's Australian Financial Services (AFS) license.
This move by ASIC follows a series of events that began with a raid on Prospero Markets' offices by Australian law enforcement authorities. The raid was part of a broader operation targeting a China-based money laundering ring, as revealed in an FNG Exclusive report last month.
Prospero Markets, primarily serving Chinese-speaking clients both in Australia and across the Far East, has been at the center of controversy since the raid. Notably, the company's controlling shareholder and Managing Director, Ding (Dean) Wang, was arrested during the operation.
The suspension of Prospero's AFS license, which took effect on December 20, 2023, will remain in place until February 28, 2024. During this period, Prospero Markets is prohibited from providing financial services.
However, what raises eyebrows is ASIC's stated reason for the license suspension. In its announcement, ASIC did not explicitly mention the police raid or the arrest of Ding (Dean) Wang. Instead, the regulator cited administrative lapses by Prospero Markets, specifically its failure to submit its annual financial statement and audit report for the fiscal year ending on June 30, 2023, within the stipulated timeframe and in accordance with its AFS license conditions.
ASIC has further warned that if Prospero fails to submit these required documents during the suspension period, the regulator may consider prolonging the suspension or even cancelling the license altogether.
This latest development is not the only trouble Prospero Markets is facing. On November 16, 2023, ASIC initiated an investigation into suspected breaches of the Corporations Act 2001 by Prospero, covering the period from March 1, 2021.
In response to ASIC's concerns and as part of ongoing cooperation with the regulatory body, Prospero Markets Pty Ltd voluntarily agreed on December 19, 2023, not to engage in any dealings with client funds without explicit permission from ASIC. This undertaking is expected to remain in effect until at least February 8, 2024, giving ASIC ample time to conduct its investigation. Additionally, Prospero Markets is actively assisting ASIC with its inquiry.
It's worth noting that Prospero Markets retains the option to challenge ASIC's decision to suspend its AFS license by seeking a review through the Administrative Appeals Tribunal.
As the investigation unfolds and the suspension remains in effect, Prospero Markets faces a challenging period of uncertainty, with its reputation and future in the financial industry hanging in the balance.
Coinbase, one of the leading names in the cryptocurrency exchange industry, has unveiled its ambitious plans for further expansion by launching non-US spot markets on its Coinbase International Exchange. This latest development is set to cater to the diverse needs and demands of Coinbase's global user base while simultaneously supporting its strategic mission of increasing international access to reliable cryptocurrency products and services.
At the core of this expansion lies a commitment to establish robust liquidity and build a strong foundation for future growth. Over the next few months, Coinbase International Exchange plans to broaden its offerings to include retail users, incorporate additional digital assets, and introduce new features that facilitate innovative trading strategies and enhance capital efficiency.
One notable aspect of Coinbase's strategic move is its acknowledgment of the reluctance displayed by certain asset issuers and members of the cryptocurrency community to engage with US-based exchanges. This hesitation stems from the evolving and somewhat uncertain regulatory landscape surrounding cryptocurrencies in the United States. Coinbase International Exchange aims to provide a trusted and compliant alternative for these participants by offering a non-US spot market.
The launch of these non-US spot markets underscores Coinbase's determination to stay at the forefront of the cryptocurrency exchange industry, both in terms of innovation and global reach. As the cryptocurrency market continues to evolve and mature, Coinbase appears poised to remain a key player in facilitating crypto trading, offering both experienced and novice traders a secure and reliable platform for their digital asset needs.
In a rapidly evolving crypto landscape, the move towards creating a non-US spot market reflects Coinbase's commitment to adapting to changing market dynamics and catering to the needs of a global user base while ensuring regulatory compliance and user trust. As Coinbase International Exchange moves forward with its phased expansion, it will be interesting to see how these new markets evolve and what opportunities they unlock for cryptocurrency traders around the world.
FP Markets, the worldwide multi-asset broker, has unveiled a sponsorship agreement with Cricket Brasil, an ICC associate member. This collaboration is designed to bolster the youth development program of Cricket Brasil, which offers young individuals an opportunity to complete their education, pursue higher studies, and forge a promising future. In its initial stages, this partnership will be dedicated to supporting three distinct areas:
Education - Contributing to the financial support of project leaders, also referred to as the "Black T-shirts," through the Cricket Brasil University Scheme. This initiative grants young Brazilians access to higher education, offering transformative opportunities while instilling vital core values such as Respect, Leadership, and Community.
Infrastructure Enhancement - Aiming to finalize the construction of the Cricket Brasil indoor training facility and high-performance center in Poços de Caldas, Minas Gerais.
Community Empowerment - Assisting the advancement of local development officers, who play a crucial role in expanding the sport within their respective communities.
Craig Allison, CEO of FP Markets, stated, "FP Markets understands that true industry leadership goes beyond excelling solely within the trading sector. It entails actively connecting with communities and making meaningful contributions that can positively impact people's lives. Through our support of Cricket Brasil, we are confident to effect genuine change in the lives of young Brazilians and leave a lasting, positive imprint on the local community."
Matt Featherstone, President of Cricket Brasil, added, "Partnerships like this make an immense difference. The expansion of Cricket Brasil, directly resulting from this collaboration, will create more opportunities for young Brazilians to participate in this wonderful sport and to join our University Scheme, which educates additional Cricket Development officers. These officers, in turn, enhance local engagement and participation."
Sergio Azevedo, the Mayor of Poços de Caldas, expressed, "Poços de Caldas is indeed fortunate to be recognized as the home of Cricket Brasil. In a country where football is given so much place, it's truly exceptional that we have more children in our town playing cricket than football."
Fara Gorsi, ICC Development Manager for the Americas, commented, "The newly established partnership between FP Markets, an Australian entity, and Cricket Brasil underscores their unwavering dedication to the sport and their positive influence on the lives of countless young children. This collaboration with FP Markets will significantly contribute to the growth and advancement of the cricket ecosystem. As pioneers in the region, Cricket Brasil continues to push for progress, and we are thrilled and proud to witness Cricket Brasil's continued growth and success within ICC Americas."
FP Markets' sponsorship and donation initiatives are designed to empower both individuals and organizations dedicated to enhancing lives through community engagement, education, innovation, diversity and inclusion, ethical business practices, and sustainability. These collaborations are aimed at leaving a lasting and meaningful impact.
FP Markets is committed to making a positive contribution to society and the environment through its Corporate Social Responsibility (CSR) efforts. The commitment to CSR is deeply embedded in its core values, which is to create a positive influence on present and future generations by supporting projects that truly bring about positive change.
About FP Markets
Founded in 2005, FP Markets is a multi-regulated brand that offers clients access to an impressive array of over 10,000 tradable instruments spanning critical asset classes. The company provides aggregate pricing from several top-tier liquidity providers. Furthermore, FP Markets prides itself on delivering consistently tight spreads, lightning-fast execution, unparalleled 24/7 multilingual customer support, and a diverse range of account types tailored to accommodate various trading strategies and styles.
In an innovative move, Spotware has announced the launch of cTrader for MacOS. This native macOS application is specifically designed to cater to the needs of algorithmic traders using Apple's platform. This launch comes at a crucial time, especially considering the recent removal of MetaTrader 4 and MetaTrader 5 trading apps from the Apple App Store.
The new application adheres strictly to the guidelines of the Mac operating system, maximizing hardware resources to ensure optimal performance. It delivers a seamless trading experience with its diverse trading options, including manual, copy, and automated trading. Manual trading on cTrader for MacOS is enhanced with versatile charting tools and various chart types, while the copy trading feature offers access to over 1,000 replicable strategies.
Illa Iarovitcyn, the CEO of Spotware, expressed his excitement about the launch: "cTrader for Mac is one of the most anticipated milestones that we are delighted to have achieved. This is an early Christmas present for all Apple aficionados! The application is a unique offering for Mac users, incorporating manual, copy, and automatic trading, and even includes familiar shortcuts for Mac users."
With its continuous availability on the App Store and its advanced yet accessible features, cTrader for Mac is poised to solidify its position as a preferred alternative in the financial landscape. Spotware's latest offering represents a significant step forward in the realm of algorithmic trading, especially for macOS users.
In a revolutionary development, the renowned global broker HFM has unveiled the expansion of their Copy Trading platform, breaking free from geographical constraints. This exciting advancement is a promise for a fresh era of trading opportunities for Followers and Strategy Providers alike, ushering in an era of enhanced connectivity within the global trading community.
Seamless Replication Across Varied Markets
Followers can now effortlessly mirror the strategic maneuvers of fellow traders across a wide range of markets and regions. This expansion offers unmatched access to diverse trading styles and expertise, enabling Followers to diversify their portfolios in unprecedented ways.
Expanding the Global Accessibility for Strategy Providers
This represents a noteworthy achievement for Strategy Providers, offering an expanded reach that transcends geographical boundaries. Now, strategies can enter previously unexplored markets, enabling providers to engage with a wider audience and demonstrate their expertise on a global scale.
Enhanced Platform for a Seamless User Experience
To guarantee a more straightforward and user-friendly experience, the HFM Copy Trading platform has undergone a complete makeover. The Strategy Provider List has been transformed into a sleek Card View, offering users quick and informative summaries for more efficient decision-making.
The Vision for 2024
A spokesperson from HFM expressed, "The global expansion of our Copy Trading platform signifies a revolutionary moment for our company and its community of traders, and it's merely the inception of our reimagined Copy Trading platform. We are unwavering in our commitment to ongoing innovation, with a vision that includes the introduction of even more groundbreaking features and improvements throughout 2024."
For additional details or to experience the enhanced Copy Trading platform you can visit www.hfm.com.
About HFM
HFM, formerly known as HotForex, is a brand name of HF Markets Group, an internationally acclaimed multi-asset broker of choice to over 3.5 million live accounts worldwide and over 60 coveted industry awards. The company offers a wide variety of account types, innovative products, platforms, tools, and educational resources besides outstanding customer service and unparalleled trading conditions to facilitate individuals and institutional customers to trade Forex and CFDs online.
