HFM Announces Eliud Kipchoge its Kenya Brand Ambassador

The marathon legend has signed an agreement to become the official brand ambassador for HFM as the broker continues to empower its global presence.

October 2022 – Global multi-asset broker HFM released an announcement about Kenyan distance runner and marathon world record holder Eliud Kipchoge signing up as the company’s new official brand ambassador in Kenya.

Eliud Kipchoge was born in November 5, 1984. He’s known as the world’s greatest marathon runner of all time. From 2014 to 2019 he entered 10 marathons in total and won all of them (the Rio 2016 and Tokyo 2020 Olympic Games marathons, and eight Marathon Majors in London, Chicago, and Berlin). During the 2022 Berlin Marathon Kipchoge set the marathon world record at 2:01:09.

This said HFM is honored for the opportunity of cooperating with one of the most iconic athletes of all time. Through this cooperation and joining of forces, trading will become more accessible to everyone worldwide. The partnership is based on the most essential values that are common for a successful trader and a world-class athlete: persistence, determination, and the will and striving for constant development and the best results.

According to an HFM spokesperson, the collaboration with Eliud Kipchoge is another attempt to offer a superior trading environment to their highly valued clients. He added that Eliud’s image and his brilliant achievements are a great source of inspiration, and they sincerely hope that the partnership will inspire and encourage not only traders, but everyone all over the world to be the best in what they are doing. He summed up by expressing his excitement about the upcoming cooperation and bringing HFM’s exceptional offerings closer to the Kenyan market.

Eliud Kipchoge in his turn expressed his enthusiasm about the offer, saying he is proud to become HFM’s brand ambassador in Kenya. According to Kipchoge, he is looking forward to working with HFM, a company that is known in the world of sports for its partnership with Paris Saint-Germain F.C.

You can learn more about this collaboration by visiting the company’s website.

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 that have earned over 60 coveted industry awards in its twelve-year history. 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.

US to Tax All Crypto Transactions including NFT and Stablecoin

The US Internal Revenue Service (IRS) has once again updated its annual questions on cryptocurrency holdings and associated gains.


Most notably, the authority tweaked the 2022 draft instructions for tax form 1040 to include non-fungible tokens (NFTs) and stablecoins, replacing the term “virtual currency” with “digital assets”.

In the newly released draft of the individual income tax return, the IRS clarified that digital assets are “any digital representations of value that are recorded on a cryptographically secured distributed ledger or any similar technology. For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins.”

The updated questionnaire states that taxpayers must disclose any kind of cryptocurrency acquisition including those received “as a reward, award, or payment for property or services” or “sold, exchanged, gifted, or otherwise disposed of a digital asset (or any financial interest in any digital asset).”

The IRS said it plans to make public criminal tax-evasion cases involving cryptocurrency, which opens a new front in the agency’s burgeoning scrutiny of the industry.

As described further in the petition, though taxpayers are required to report any associated profits and losses on their crypto dealings, the IRS’s experience “has demonstrated significant tax compliance deficiencies relating to cryptocurrencies and other digital assets.”

Based on its recent experiences with cryptocurrencies, the IRS believes that crypto transactions are not being properly reported on tax returns.  Among other reasons, the authority says there is no third-party reporting to the IRS on such transactions, and previous summonses served on other cryptocurrency dealers have revealed significant underreporting of such transactions.

Recently, there have been numerous reports emerging of tax authorities clamping down and going after cryptocurrency traders. The IRS also sent letters to taxpayers who might have failed to report income and pay the resulting tax from cryptocurrency transactions.

At the very core, the IRS still deems crypto assets to be property rather than currency for income tax purposes, the same as its regulatory guidance came out seven years ago. That means the authority will continue to tax crypto profits and losses like those for stocks, at capital gains rates.

The IRS has also addressed how to track the fair market value, capital gains, and losses in the context of virtual currencies. When a transaction is facilitated by a cryptocurrency exchange, the value of the taxed deal is the amount that was recorded by the platform in US dollars. Further, the taxpayer’s buy/sell price will determine whether a gain or loss has occurred as well as its duration.

eToro launches diversified ESG portfolio

eToro launches a portfolio offering exposure to companies leading the way in ESG, offering a diversified approach with stocks from 11 industry sectors

Follows the debut of ESG scores for over 2,700 stocks on eToro


Online broker eToro has announced the launch of ESG-Leaders, a portfolio offering retail investors long-term exposure to companies leading the way in environmental, social and governance (ESG) best practices.

The portfolio is built by identifying the four companies with some of the highest ESG scores for their sector across 11 industry sectors, while also taking into consideration market capitalisation, liquidity, and sell-side analyst ratings. The 11 industry sectors covered are consumer discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, materials, real estate, telecommunication services, and utilities. Names in the portfolio include Nivea’s parent company Beiersdorf, ABB, Nvidia and Telefonica.

The portfolio launch follows the introduction of ESG scores to the eToro platform for over 2,700 stocks. Powered by ESG Book, a global leader in ESG data and technology, the ESG scores combine the most up-to-date market news, NGO signals and company-reported information enabling users to consider environmental, social, and governance factors when building their portfolios.

eToro’s Smart Portfolios offer investors exposure to various market themes. Bundling together several assets under a defined methodology, and employing a passive investment approach, eToro’s Smart Portfolios are long-term investment solutions that offer diversified exposure with no management fees.

Initial investment starts from USD 500 and investors can access tools and charts to track the portfolio’s performance, while eToro’s social feed will keep them up-to-date on developments in the sector. For now, this portfolio is not available to US users.

Mastercard introduces Crypto Source to bring crypto trading capabilities to banks

Mastercard today introduces Crypto Source, a new program to enable financial institutions to bring secure crypto trading capabilities and services to their customers.

In partnership with regulated and licensed crypto custody providers, Mastercard’s financial institution partners will gain access to a comprehensive suite of buy, hold and sell services for select crypto assets, augmented with proven identity, cyber, security and advisory services. This Crypto Source offering is complemented by Mastercard Crypto Secure to bring additional security to the crypto ecosystem and support card issuers in their compliance with complex regulations.

Now, Mastercard’s suite of crypto-related offerings for banks and fintech includes:

  • Technology and partnership support to enable buying, holding and selling off select crypto assets
  • Security management including Mastercard’s identity solutions, crypto analytics, transaction monitoring, anti-money laundering, ‘Know Your Business’ and lifecycle stages, cybersecurity, and biometrics
  • Crypto spend and cash out capabilities offered through a range of products, including crypto cards, open banking and cross border services. Financial institutions would also be able to offer additional functionality using Mastercard’s technology such as digital receipts and loyalty solutions
  • Crypto program management including program design, product development and technology implementation, as well as go-to-market optimization and marketing consultancy services, providing end-to-end support for banks, fintechs and issuers to offer crypto programs at scale.

To support this program, Mastercard is expanding its partnership to work with Paxos Trust Company, a leading regulated blockchain infrastructure platform. The partnership aims for Paxos to provide crypto-asset trading and custody services on behalf of the banks, while Mastercard will leverage its technology to integrate those capabilities into banks’ interfaces, resulting in a seamless experience for the consumer.

Over the past few years, Mastercard has been working alongside its customers and partners to bring new services and capabilities that help make crypto more accessible, safe and secure. These efforts have been complemented with the addition of new technologies through Finicity, Ekata, RiskRecon and CipherTrace. This unique combination of services provides eligible financial institutions the opportunity to directly manage crypto asset investments for consumers. Mastercard also continues to support banks, governments and others through its Crypto & Digital Currencies Consulting Services.

Mastercard Crypto Source is currently being prepared for pilot programs.

HFM Introduces a New App Version

An all-around trading experience is now at the client’s reach with the new feature-packed mobile trading application from an award-winning broker HFM.

To enhance its offerings further and satisfy the needs and expectations of its constantly growing client base, Global multi-asset broker HFM has developed a new mobile application. The app is available for both Android and iOS users. Combining HFM’s industry-leading conditions and cutting-edge technology, the app takes the trading experience to another height.

It is now possible for clients to have access to their accounts, trading CFDs on more than 1200 assets immediately on the app. The award-winning broker HFM enables simple and ultra-fast trade execution and customizes the trading with three trading options, that is Amounts, Lots, or Units. Moreover, traders have access to a detailed history of each trade. This allows them to analyze their prior performance, monitor their positions 24/7, and enjoy trading from any spot.

HFM spokesperson proudly announced that the newly released HFM mobile trading app is a result of months of development and painstaking testing. According to his words, their aim is to make mobile trading possibly intuitive and practicable, enabling traders to enter global financial markets effortlessly and enjoy smooth trading.

Real-time prices, automatic market notifications, advanced charting functionality, powerful trading tools, and market analysis can all be found on HFM’s mobile application. Still, HFM doesn’t stop here and endeavors to introduce even more updates and functionalities directed at enhancing user experience and satisfying the expectations for over 3.5 million live accounts all over the world.

To learn more about the newly introduced features, visit the HFM App page.

About HFM

HFM, known as HotForex and a brand name of HF Markets Group, is an internationally acclaimed multi-asset broker. It has acquired more than 60 coveted industry awards, being the choice of over 3.5 million live accounts all over the world. Among the company’s offerings are a wide variety of account types, innovative products, cutting-edge platforms, tools, and educational resources. HFM also offers outstanding customer service and exceptional trading conditions.

US Jobs Market Deteriorates, Investors Don’t Care

The recent data from the US jobs market disappointed market participants. However, they were ignored, and US equity markets continued to rip higher. So let’s take a quick look at some of the key indicators.

Initial Claims Trending Higher

Although the labor market is supposedly “too robust to be in recession,” anyone who bothers to look at higher frequency data will see that story disintegrating quickly as initial unemployment claims increased to 256k last week (worse than the 250k expected).
The 4-week average of new claims is currently at its highest level since November 2021, while continuing claims continue to stagnate.

Source: Bloomberg

JOLTS Job Openings Disappoint

Additionally, there were fewer job opportunities in June than was previously thought.
According to the Job Openings and Labor Turnover Survey (JOLTS) by the Labor Department, there were 10.7 million open positions in the United States on the final day of June, which is less than what economists had projected and the lowest number since September. From the upwardly revised May total of 11.3 million, there was a decline of 605,000. Since reaching a record high in March, the number of openings has decreased each month.

Jobs in the retail trade accounted for more than half of the loss (-343,000). Wholesale trade (-82,000) and state and local government education also significantly reduced (-62,000). On the other hand, openings in the health and education sectors grew by 99,000.

4.24 million people left their jobs, which is the fewest since October. Construction had a decline in resignations (-51,000), while state and local government education saw a rise (+14,000).
The JOLTS report painted an almost uncomfortably strong picture of the US labor market up until May. Still, it finally cracked in June, with job openings falling at the second-fastest rate ever (only the Covid crash months were worse). Since the US is now technically in a recession, we anticipate that July and the following months will be much worse.

Source: Bloomberg

Non-farm Payrolls Due

The non-farm payroll data on Friday will also reveal whether businesses continued to hire in July after adding 372,000 positions in June or whether economic uncertainty caused them to cut down. The official consensus is at 250,000 new jobs in July, while the unemployment rate is expected to stay at 3.6%.
Volatility will indeed be elevated following the data, with investors repricing the hawkish expectations of monetary policy; despite no assurances by the Fed, it has changed its plans to hike rates.

Getting Started with Trading Signals

Traders who want to take their trading to a higher level can use Trading signals. Commonly, signals help to have better insight and make better trading decisions. They alert traders when an asset is to break in one or another direction.
However, not all traders make use of trading signals. So, to be helpful, let’s see what trading signals are and how to make the best use of them.

What Are Trading Signals?

A trading signal is software sending traders alerts when a certain event happens. They are mostly composed of two main components – the technical analysis indicators and the condition triggering the alert.
For instance, a trading signal could be set to trigger if an asset breaks through its 50-day moving average. Here, the technical indicator would be the 50-day moving average, whereas the condition triggering the alert would be the break of the 50-day moving average.

Trading signals accommodate to identify assets that based on the ongoing market situation are likely to increase in value in the short or long term. If your prediction and sentiment prompt you that the economy is heading in a positive direction, you can use trading signals to find assets that are likely to increase in value based on a guess.

The Reasons to Use Trading Signals

Using trading signals, it is possible to improve your trading drastically. By setting them to identify assets headed for a breakout you can get in early before they start rising in value.
Besides, they help to identify the best assets for trading in the short and long term. Another advantage is that trading signals keep you from overtrading. For this, it is enough to set your alerts for assets that you would otherwise be tempted to trade too often.

Finding Good Trading Signals

Trading signals are possible to find almost anywhere but pay attention to the fact that they are not created equal. Some work well, yet others prove to be not so useful. The best trading signals help to make consistent profits.
Looking for trading signals, try to find the ones that work best for you and your trading style. It is possible to benefit from only one signal, however, it is possible to have luck with a variety of signals.

Trading a Signal

Before the start, choose a trading signal you like. Also, it is advisable to follow the signal and see how it works. Your next step should be to open a demo account and start executing trades using the parameters you are going to use on a real account. This way you will have a feel for how the signal works. Besides, after starting trading with a signal, keep a trading journal to track the performance of the signal and see how it works.

Find the Right Signal for You

Trading signals are numerous and all of them can be used in trading. Yet, it is essential to find the right signal for you. Pay attention to the fact, that some signals turn out to be better for short-term trading, whereas others are good for longer-term trading. Your priority is to find a signal that works well with your style and that you can use to make more profitable trades.

HFM Wins for Best Loyalty Program and Partners Program

HFM, formerly known as HotForex, has been recognized for its two most significant programs aimed at giving back to its 3.5 million clients, the HFM Loyalty Program and HFM Partners.
August 2022 – We are proud to announce that HFM has received two new coveted awards from World Business Outlook in recognition for its exceptional trading products and services, which have made HFM a market leader among brokers!
An HFM spokesperson stated that their team is dedicated to providing the best possible client experience and they do so by offering many different incentives. These include their popular Loyalty program and other bonuses, all aimed at rewarding loyal clients.

Best Forex Loyalty Reward Program

The HFM Trading Rewards Loyalty Program is an innovative way to encourage more active traders. The more days clients trade and accumulate, the higher their reward level is.

Best Forex Partners Program – Global

The HFM Partners Program offers up to $15 per lot and 25% on sub-affiliates, requiring no prior experience. This means clients can earn unlimited commissions with every sale. The program also includes access for all partners to an exclusive portal, and multi-tier affiliate software (up 5 tiers).

See the HFM awards showcase here.

About HFM

HFM is a brand name of HF Markets Group. It is an internationally known multi-asset broker that has over 3.5 million live accounts all over the world. In its history of twelve years, HFM has earned about 60 awards. The company has favorable offerings with a wide variety of account types, products, easy-to-use platforms, innovative and helpful tools, and good educational materials, as well as exceptional customer service.

Risk Warnings

Terms and Conditions Apply

Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors since they carry a high degree of risk to the capital. Please ensure that you fully understand the risks involved, taking into account your investment objectives and level of experience, before trading, and if necessary, seek independent advice. Please read the full Risk Disclosure.

Forex Trading: Why Avoid Brokers from St Vincent & The Grenadines

SVG FSA RegulatorFormed: November 12, 2012
Jurisdiction: St. Vincent and the Grenadines
Headquarters: Kingstown
Website: http://www.svgfsa.com/

Introduction to SVG FSA

Through an increasing demand to the financial sector and offshore zones itself, it was a need to create the Financial Services Authority with a responsibility to regulate non-bank, certain entities in the financial sector and control the international financial services industry in St. Vincent & the Grenadines.

The SVG FSA was established 7 years ago, November 2012, with a mission as the authority mentions on its official website, to develop, regulate and supervise St. Vincent and the Grenadines as a secure and competitive financial center in the international and the financial sector in accordance to best practices, through the promotion of integrated operation. However, the Forex Trading or Brokerage activity, which is the main topic in financial investment world also rapidly growing in its demand, does not have a solution of regulation of Forex, CFD and Binary Options in SVG.

The regulation or even licensing of the Forex business is not a part of the SVG FSA activity, as stated by the official warning.

“There are financial institutions out there that falsely claim they are registered or licensed in our jurisdiction. Their purpose for doing this is more than likely for illicit reasons and potential customers should be very cautious about conducting business with them.

FSA, St Vincent and the Grenadines. (Learn more about SVG FSA Function Role)SVG FSA website

In this St. Vincent and the Grenadines regulation review we cover the following highlights:

Why not trade with an SVG FSA registered broker?

St Vincent and the Grenadines of SVG is an island in the Caribbean, which became quite a known location for its tax haven offering out of the international companies. St Vincent is an attractive solution among the financial companies and those businesses that for the reason or another choose to operate through an offshore company. As the jurisdiction itself offers easy to achieve setup demands through very quick, simplified process, while the firm does not necessarily need an office in SVG, allowed to maintain low initial capitals, no strict establishment rules or requirements, yet allows running a global business. Furthermore, there is no sharp regulation or overseeing of the company operation implemented. In terms that the Forex business in SVG is not regulated in St Vincent, the SVG broker can run its activity, provide trading environments and accept forex payments through credit cards, but is not overseen.  

SVG FSA Forex Alert

Considering the fact that SVG FSA enables low set up requirements with No business planning, No management interview or check of the company background. While the registered company operates with No Handbook, No Regulatory Reporting, No Impose of Fines in case of its malicious service and there is No any protection implied alike Fund Segregation, Negative Balance Protection or Compensation in case of insolvency. The evident question is: Why to trade with SVG Broker?

Therefore, apart from beautiful seaside beaches, the SVG with its offshore environment became a known hub of financial firms, while the legal environment can be quite loose towards the Forex business and brokerage itself. For better understanding check out the UK’s FCA Authority and its sharp regulation, overseeing of the brokerages and heavy fines in case of the company fail to obligations.

FCA regulator

Obviously, the investment and trading service is a popular trend, however in order not to fall under the scams and frauds, which are in fact growing daily, you should carefully choose a company before any funding is done. The Forex and derivatives trading as a decentralized market can be a highly risky opportunity if the company delivers trading service without strict overseeing from the industry authority. For that reason, we always advise choosing among the most reputable and of course heavily regulated brokers and to protect yourself from potential scammers. For instance, as an example learn and compare eToro offering and heavy regulation. To get more knowledge, you can also read our article Forex Trading Scams and know how to protect yourself, with a deeper understanding of how frauds work.

In addition, most often an offshore broker alike SVG Brokers are associated with other companies while the offering varies slightly from the majority of frauds, yet the result is equally disappointing. The major concern about lack of regulatory oversight places SVG companies much under the recommended safety line, in essence, you only get the honest word of the company.

Complaints and scams to SVG FSA

We have received many user reviews, while the majority of them are obviously negative. What are the Complaints about? Rejects client withdrawal, meaning a client who puts money cannot get profits or funds back.

In that scenario, SVG FSA will not be able to assist through customer protection, to advise or take action further, the trader stands completely alone at that point. Therefore, there is no way to complain or receive any support from the authority.

SVG complaints and support

In addition, there are many fake brokers stating their address, regulation or registration at SVG, while pretending to be a legit firm. The SVG authority recognized that potential and warns potential or already engaged traders that in case of trading with an unlicensed and unregulated company the trader using the services at his own risk. As an unlicensed or offshore broker most often not subject to any supervision of practice or regulatory laws the company may easily mislead or false any information or the service providing itself.

The only way the SVG FSA tries its attempt to protect clients is to place an advise and list entities at the alert area as of the false license claims in the SVG jurisdiction, yet the protection “actions” are ending just by that. SVG FSA – Investor Alerts 

SVG FSA Investor Alert

List of St Vincent and the Grenadines Forex Brokers

Currently, we have reviewed many Forex Brokers from St. Vincent and the Grenadines, while none of them were included into the list of trusted or brokers with a recommendation of safe trading. The only companies that may be trusted are those brokerages that hold additional licenses from the reputable authorities and at the same time run business in SVG. Check on the broker carefully before any signing in is done, revise the broker’s regulation status, its authorization claims, news and reputation by reading reviews and checking on the legit documentation.

As well, you can find and verify company at the regularly updated list of Brokers to avoid or submit your inquiry. Then if you found a broker at the list you better stay away from any cooperation or trading with them at all cost, as listing consists of mainly non-regulated and offshore firms.

Conclusion on SVG regulation

The final thoughts conclude the traders and investors should ensure a clear understanding of the procedures and risks involved while the company or another offering the forex trading opportunity and not properly licensed.

As of the recent growth of international trend of Forex, trading investors are urged to exercise caution before any sign in or acceptance of the offering. Any broker declares its regulation by FSA SVG, in substance, made a false claim. As it became clear now, why the SVG incorporated firms disclose information on the risks, in particular, the possibilities of loss, therefore we recommend avoiding offering from the brokers mentioning their SVG FCA regulated status. In order to become a trustable company in providing financial and trading service, the firm should be sharply regulated and retain a sufficient level of reputation through its operational history. Definitely, it is not a gaining point towards trust to the brokerage that is an offshore based company and was established with a low registration requirement while none of the protective principles followed.

The security of funds always stands first, therefore, you better consider brokerages from other jurisdictions that maintain a sustainable level of financial and investment services and forex trading in particular through a protective set of rules. Check out the list of regulated and recommended brokers by the link.

The Top 3 Reasons Traders Start Copy trading

Copy trading enables new traders to follow and automatically copy the trades of more experienced traders. It is often referred to as “master traders” or “top traders”.

These top traders have a proven track record of making money trading and they are eager to share their strategy with other traders. This way, they can copy the trades and benefit from the outcome. For this, you only need to open an account on a copy trading platform and select the trader you want to follow.

Below are the top three reasons why traders start to copy trade.

You Don’t Need Experience

Many people do not start trading just out of fear of messing up everything. They are afraid to make a bad decision and lose money. With copy trading, you do not have these worries, and you certainly do not need years of experience.

That’s a major plus because if you’re new to trading it can be hard to know where to invest your hard-earned money. The market can be quite misleading, as there are lots of markets and assets out there and it is often hard to know which investment will turn out to be profitable and which will fail. You might know about the best assets to buy, but you still need to know when it is more beneficial to buy them. The same is about selling. You can be worried that your assets can start dropping.

Copy trading is one of the easiest ways to use another trader’s experience and expertise to your benefit. All you have to do is choose a trader who’s getting good results, and who has proven to be able to make profitable trading decisions.

Saves Time On Research and Analysis

Many traders who get started don’t have the time or the skill to research the market properly. With copy trading, you don’t need to learn technical analysis or weigh up the pros and cons of different assets before you make a trade.

Top traders do their proper research, so you just need to follow the moves of a trader with experience and proof of success. This way, you will save a lot of time and nerves.

Builds Trader Confidence

Copy-trading helps beginner traders build confidence in their trading decisions. It is also a great way to learn more about the markets and learn to trade without undesirable risks. This way, you are more comfortable, and it is easier to build more confidence when you’re trading.

On the contrary, it can be hard to have that confidence when you’re a beginner trader. That’s natural because it’s easy to make mistakes, and panic-sell or optimistically make a wrong purchase. This is where copy trading can be of great benefit to you. Letting go of control and letting someone else make the decisions for you can really help you to stay calm and make good trading decisions.

Top traders have already done the hardest part and tested out a strategy. Now, all you have to do is put it into execution. Thus, you’re trading on a proven strategy. You don’t have to panic about whether the decision to buy or sell is good or not.


It is true that copy trading is a great way to get started trading without doing much research. However, it should be used as an opportunity to learn and grow as a trader. Trading volatile markets always hold risks, and there are no guarantees that you’ll make money. Copy trading is a shortcut that helps you make better decisions, learn meanwhile, and build much-needed trader confidence.