Traderzmarket and GCE Capitals blacklisted by the FCA

Posted on by bar

The UK’s Financial Conduct Authority (FCA) has issued warnings against Traderzmarket and GCE Capitals. The regulator said the brokers have been providing financial services and products targeting people in the UK without being licensed.

The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom.

Are these brokers legit?

Traderzmarket is a Forex broker, owned and operated by Investment Company Activity LTD., registered in Bulgaria. The company also claims to operate from the office in Switzerland, however, they provide a British contact number on the website next to the address. Traderzmarket is not authorized in any of the mentioned countries and, moreover, has been blacklisted in by  the Swiss FINMA and Italian CONSOB.

GCE Capitals logo

GCE Capitals is an online trading platform that offers Cryptocurrency and Forex Trading. The company claims to have offices in London and Zurich, however, they do not disclose any legal information about the broker's license. Apparently, GCE Capitals is not licensed and should be avoided. 

It is recommended to trade with authorized and regulated brokers. There are many trading companies that offer relatively good trading deals and conditions. These companies are regulated by such financial regulators like ASIC, CySEC, and FCA.

You can also share your trading experience with Traderzmarket and GCE Capitals by commenting on this post.

Canada’s NSSC has issued an investor alert for HQBroker

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Nova Scotia Securities Commission logo
The Nova Scotia Securities Commission has issued a warning that the forex broker HQBroker is not authorized to sell securities in the Canadian province.
The Nova Scotia Securities Commission was established to provide investors with protection from activities that undermine investor confidence in the fairness and efficiency of Nova Scotia capital markets and were not inconsistent with investor protection, to foster capital formation.

HQBroker logo
HQBroker offers trading in forex pairs (a fairly limited selection of majors), CFDs on commodities, equity shares, metals and stocks. HQBroker is powered by Capzone Invest Ltd., a company with an operational address in the Marshall Island. It claims to have an office in Hong Kong, China and is targeting investors through its website: www.hqbroker.com. However, the Hong Kong Securities and Futures Commission warns that HQ Broker is not licensed to sell securities there and that the HQ Broker website lists a false Hong Kong address.
These two warnings are just an addition to the other alerts for HQBroker issued by the UK's Financial Conduct Authority in April 2018, and Ontario Securities Commission in July 2018. It is clear that HQBroker should be avoided, as it definitely lacks regulation and doesn't lack multiple warnings.
“Always take time to check registration and understand the risks and costs involved with your investments,” says Stephanie Atkinson, Senior Enforcement Counsel with the Commission. “Becoming an informed investor is your best line of defense.”
It is better to choose among brokers licensed by the respective authorities in the UK, or Australia for example.
You can read our review on this broker here.

RoboMarkets Becomes the Official Partner of BMW M Motorsport

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RoboForex Review

RoboMarkets, a foreign exchange (forex) broker licensed in Cyprus, has just announced that it has become  BMW M Motorsport’s official partner for the popular German touring car masters Deutsche Tourenwagen Masters (DTM).

During the upcoming season of the popular German touring car masters DTM (Deutsche Tourenwagen Masters),  the Swedish BMW works driver Joel Eriksson will compete to win in the brand new #47 BMW M4 DTM racing car, with prominent RoboMarkets brand appearance.

Jens Marquardt, Director of BMW M Motorsport comments:

“We are proud to be able to count on such a large number of strong partners in the coming DTM season. They all guarantee that we are able to produce works motorsport of the highest standard. On behalf of everyone at BMW Motorsport, I would like to thank them for that. It is also particularly important for me to mention that our partnerships generally go well beyond simply displaying partner logos. We are always interested in structuring the partnerships in such a way that they add real value for everyone involved. We are strong together.”

The 2019 DTM season consists of 18 races starting on May 4th in Hockenheim, Germany. The series then moves to Zolder (Belgium), Misano (Italy), Norisring (Germany), Assen (Netherlands), Brands Hatch (Great Britain), Lausitzring (Germany) and Nürburgring (Germany), and then returns to Hockenheim for the final race, which will be held on October 5-6.

RoboMarkets is an investment company with the CySEC license No. 191/13. RoboMarkets offers investment services in many European countries by providing traders, who work on the financial market, with access to its proprietary trading platforms. You can check our full review of RoboForex broker, one of the RoboMarkets' brands.

SVS Securities PLC Enters Administration

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FCA Regulator

On 5 August 2019, the Court appointed Julien Irving, Andrew Poxon and Alex Cadwallader, all of Leonard Curtis, as Special Administrators of SVS Securities Plc (SVS), following an application by the Directors. The Joint Special Administrators are currently considering the options for the business going forward, including a sales process of the whole or part of the business. They will be speaking with interested parties about this. 

"Acting on intelligence received about the assets in which SVS invested its clients’ money, we conducted urgent supervisory work and identified serious concerns about the way in which the business was operating."

SVSFX Broker review

 The FCA has opened an investigation into this matter.

Following action taken by the FCA to impose requirements on SVS stopping it from conducting regulated activities and restricting it from disposing of its own or its clients’ assets, the directors considered the viability and solvency of SVS. They obtained solvency advice and resolved to place the firm into Special Administration.  

The Special Administrators will carry out an assessment of the client money and assets held by the firm to confirm the current position. Following the assessment, the Special Administrators will work to return as much client money and assets to customers as possible, as quickly as possible. They will also determine in due course how best to return the client money and custody assets. 

SVS is still authorised by the FCA and remains subject to supervisory oversight and the FCA’s rules. The Special Administrators are officers of the Court and need to comply with all insolvency law. The individuals appointed are authorised to act as licensed insolvency practitioners by the Institute of Chartered Accountants in England & Wales (ICAEW).

FX trader Argentex announces partnership with Professional Cricketers’ Association

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Argentex , a foreign currency exchange service provider has teamed up with Professional Cricketers Association. PCA is the representative body of past and present-day first-class cricketers in England and Wales. English cricket is going to have a busy schedule for this summer with ICC World Cup 2019 and Ashes Series coming up.

The partnership will allow the cricketers to have access to the foreign exchange service of Argentex. For a number of occasions like conversion of prize money, transfer and exchange of lump sum sponsorship deals its services may come handy to the members of association.

The Co-CEO of the group, Harry Adams said in a statement, “members of the PCA and current players are still adjusting to some of the more lucrative aspect of the sport. This summer we want the England team to focus their performance on the pitch, rather than the performance of the pound. Instead, they can trust that the Argentex understand the unique FX requirements of professional sportspeople who are performing on the global stage, having worked with sports management firm for years.”

Jofra Archer, England and Sussex Cricketer and Argentex Client commented, “Since my first overseas contract, Argentex have helped me move foreign currency around the world. The global nature of the tournament cricket means that as a player you need support and assistance around the clock. Having the expertise of Argentex means that I am free to concentrate on my cricket, whilst they work in the background to ensure that my foreign currency earnings are managed in the most effective and timely manner.”

Argentex LLP provides foreign exchange services to clients across the globe. It offers voice broking, online, and consultancy services for corporate, institutional, and private clients. Argentex LLP was founded in 2011 and is based in London, United Kingdom with an additional office in Dubai, United Arab Emirates.

Rise in Nasdaq Futures as Recovering Megacaps Lift Index

Posted on by Adam Smith
Source: Tradingview

The Nasdaq futures edged higher on Monday, as some of the largest tech companies, known as "megacaps," recover from a recent sell-off. The megacaps, including names like Apple, Amazon, and Facebook, have seen their stock prices plummet in recent weeks, but they seem to be rebounding now, pushing the Nasdaq higher in the process.

The tech-heavy Nasdaq composite index has been one of the strongest performers in recent years, thanks in large part to the strength of the megacaps. However, the recent sell-off in these large tech companies has put a damper on the overall performance of the index, causing it to fall from its all-time highs. The recent recovery in these companies, though, is helping to lift the index back up, and investors are taking notice.

There are several factors driving the rebound in these megacaps:

  • Firstly, there have been some positive earnings reports from some of the companies, which have helped to boost investor confidence.
  • Secondly, interest rates are starting to rise again, which has traditionally been a good sign for the stock market as a whole.
  • Finally, there is a growing sense among investors that the recent sell-off in these companies was overdone, and that they are now being unfairly punished.

Despite the recent rebound, there is still a great deal of uncertainty in the market, and it remains to be seen whether the Nasdaq Futures and the megacaps will continue to rise. There are concerns about inflation, interest rates, and the overall health of the economy, all of which could impact the stock market in the coming months.

RoboMarkets launches R Trader mobile version

Posted on by bar
RoboForex Review

European investment company RoboMarkets, which provides financial services to customers in many EU countries, announced the launch of a mobile version of the web platform for trading R Trader. The company released a mobile modification of the terminal against the backdrop of the great demand for it from our customers.

According to the supplier, the terminal is expected to enable consumers to perform trading operations: charts, account selection, position and account management, viewing history, and trading. One of the key features of the mobile web platform is its high availability through the use of modern software solutions, in particular, Angular technology. The terminal updating algorithm has also been improved, which doesn’t interfere with the client’s work in the platform: from now on, they will barely notice the update procedure.

The head of the R Trader project, Kiryl Kirychenko has commented on the update: "Our mobile data is on a constant rise, that’s why we believe it’s logical enough in this situation to offer our clients the opportunity to trade through mobile devices with ease. R Trader mobile web terminal was developed based on Angular technology, which provides high speed and stability of the platform performance,"

"From now on, it’s much faster and easier for traders to get prices, manage their investment portfolios, and place orders on their gadgets than ever before. In this release, we decided to go with the major functionality, which will surely be expanded in the future."

RoboMarkets is an investment company with the CySEC license No. 191/13. RoboMarkets offers investment services in many European countries by providing traders, who work on the financial market, with access to its MT4, MT5 and proprietary trading platforms. You can check our full review of RoboForex broker, one of the RoboMarkets’ brands.

IOSCO Annual Conference on key challenges facing securities regulators

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The 43rd Annual Conference of the Members of the International Organization of Securities Commissions (IOSCO) took place in Budapest, Hungary on 10th of May at the Magyar Nemzeti Bank and was focused on discussing and addressing issues facing securities market regulators these days.

The IOSCO Board, IOSCO´s Growth and Emerging Markets (GEM) Committee, the four Regional Committees and the Affiliate Members Consultative Committee (AMCC) attended the meetings and discussed their initiatives of protecting investors, efficiency and transparency of the markets and ensuring fair.

The four key issues the public sessions were focused on are the sale of unsuitable products to retail investors, the challenges of Fintech and digitalization, the shift from active to passively managed collective investment schemes, and SME access to funding through capital markets.

Discussions of the Board

The Board has agreed on the enforcement practices to be effective solution in mitigating the risks of the binary options and other OTC leveraged products to retail investors. As to the asset management area, the Board discussed exchange traded funds and reviewed the work of the IOSCO on measuring leverage in investment funds.

The members also discussed the consequences of the EU General Data Protection Regulation (GDPR) and the European data privacy regime that will come into force from 25th of May 2018. The organization will continue to interact with EU to address any problems caused by implementation of the GDPR.

Also the Board agreed on launching a Fintech Network to support the sharing of information, knowledge and experiences among IOSCO members.

There are three new signatories to the IOSCO Multilateral Memorandum of Understanding (IOSCO MMoU): Armenia, Central Bank of Armenia; Dominican Republic, Superintendencia del Mercado de Valores and Zambia, Securities and Exchanges Commission.

GAIN Capital has released April’s operating report

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GAIN Capital Holdings has announced its trading volumes for April 2018. The report shows the slowing of the FX volumes and these are the lowest metrics of the company of 2018. Although, the last year was successful enough as the volumes were increasing very fast.

GAIN Capital Holdings, Inc. is based in Bedminster, New Jersey. It is a retail and institutional FX broker that provides trading services to investors all over the world, and offers them an access to OTC markets and global exchanges of various assets, such as foreign exchange, commodities, and global equities. The company has representative offices in North America, Europe and the Asia Pacific regions.

Despite the fact that the volumes fell down, they are still higher than 2017 averages with the amounts of $206 billion Retail and $248 billion Institutional. As to the average daily volumes, they decreased on 11 percent in comparison to March 2018 volumes, though increased on 14 percent on a yearly basis. Also the accounts in the retail segment shown the lower metrics from those in March 2018. The volumes of the ECN, GTX and institutional segment have also decreased. GAIN Capital reported the amount of $279 billion in April, which is 12 percents lower than March 2018 metrics. The reported metrics are higher relative to April 2017 though.