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GCEX and Gold-i launch a new partnership

Posted on December 11, 2019March 10, 2023 by bar

GCEX, a provider of digital technology solutions in crypto-assets and multi-segment currencies, joined Matrix NETwork from Gold-i.

GCEX (GC Exchange Limited) was established in 2018 as a part of the GC Group. There was a demand for regulated and compliant exposure to the Cryptoasset market. GCEX is an FCA-regulated and authorized provider of the funds, brokers, asset managers, professional traders and banks with an advanced suite of integrated financial technology products. It includes AI applications, allowing clients to automate on-boarding, offer and trade Cryptoassets and Currencies with tight spreads, deep liquidity from Tier 1 sources and solutions for clearing.

GCEX CEO and Founder, Lars Holst has commented on the launch: “We are very much focused on the new digital economy and, as such, have been really impressed by Gold-i’s vision and commitment to supporting Cryptoasset trading. Gold-i’s clearing model through its Crypto Switch™ truly pushed boundaries and it is their focus on driving uptake in Cryptoasset trading that makes them an ideal partner for GCEX. Having previously worked with Gold-i for many years, I know they are a trusted partner with a proven track record. I am very excited by our partnership.”

Since its creation, the group has been offering funds, brokers, asset managers, professional traders and banks an advanced suite of integrated financial technology products. This includes a focus on advanced AI applications, enabling customers to automate integration, offer and trade crypto-assets and currencies with tight spreads, deep liquidity from tier 1 sources and compensation solutions.

Gold-i CEO, Tom Higgins has added: “GCEX is an ambitious organisation with a very strong proposition. We are delighted that such a pioneering digital asset firm has chosen to partner with Gold-i and join our Matrix NETwork. Our clients will benefit hugely from being able to access GCEX liquidity through Gold-i’s technology.”

Austria’s FMA warns against GrahamFE and 360SmartFX

Posted on December 24, 2019March 10, 2023 by bar

The Austrian Financial Market Authority (FMA) warns the public against the activities of two forex brokers GrahamFE and 360SmartFX. These companies have been offering investments without complying with Austrian financial legislation. According to the official statements, GrahamFE and 360SmartFX are not entitled to carry out banking transactions in Austria that require a licence.

The Austrian Financial Market Authority (FMA) is an independent, autonomous and integrated authority for the Austrian financial market. The Austrian FMA is responsible for: contributing to the stability of Austria as a financial market; reinforcing confidence in the ability of the Austrian financial market to function; protecting investors, creditors and consumers.

Are these brokers legit?

GrahamFE is a Forex and CFDs broker. The company is owned and operated by GrahamFE FinServices LTD and claims to be located in Sofia, Bulgaria. GrahamFE does not provide any legal information if it is authorized or not. We also couldn't find any confirmation in the Bulgarian Financial Supervision Commission Register. It seems like GrahamFE is NOT regulated, therefore, should be avoided.

360SmartFX is a Forex and Cryptocurrency broker. The company is owned and operated by Game Capital Ads Limited, based and registered in the St. Vincent and the Grenadines. It is a well-known offshore zone that doesn't even issue any licenses for forex trading companies. In addition, the owner-company Game Capital Ads Limited has been banned several times (by operating other brokers such as 247SmartFx and Pro TradeFX) by other regulatory authorities in other countries.

Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and FXTM.

You can also share your trading experience with GrahamFE and 360SmartFX by commenting on this post.

FMA of Austria warned against KS Securities and CobraCFD

Posted on November 25, 2019March 10, 2023 by bar

FMA logo

The Austrian Financial Market Authority (FMA) warns the public against the activities of two forex brokers KS Securities and CobraCFD. These companies have been offering investments without complying with Austrian financial legislation. According to the official statements, KS Securities and CobraCFD are not entitled to carry out banking transactions in Austria that require a license.

Are these brokers legit?

KS Securities is a Forex and CFDs broker. The company is owned and operated by KS-Securities Vermögensverwaltung GmbH, which claims to be located in Austria. It also claims to be authorized by German BaFin, Austrian FMA and Italian CONSOB. However, all these claims are false and all the regulatory information provided on the broker's website is fake.

CobraCFD is a CFD platform that offers to trade with Forex, stocks, indices and commodities. CobraCFD is owned and operated by Cobracfd Ltd., registered in the Marshall Islands. The brokers registered in this offshore zone are not overseen by any authority and are not subject to any regulatory regime.

We always advise traders to avoid dealing with unregulated forex brokers, such as KS Securities and CobraCFD. You can also share your experience with these brokers by commenting on this post.

EU imposes Crypto Ban on Russia

Posted on October 7, 2022March 6, 2023 by Adam Smith

As part of its eighth round of sanctions, the European Union has implemented a broad prohibition on offering cryptocurrency services to individuals in Russia. The move comes just days after Russia announced they would let the industry accept bitcoin and cryptocurrencies for international trade without restriction.

The new measure steps up restrictions that had been in place since April.

“The existing prohibitions on crypto assets have been tightened by banning all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet (previously up to €10,000 [$9,900] was allowed),” reads a press release published on the European Commission’s website.

The increased measures are intended as punishment for “Russia’s continued escalation and illegal war against Ukraine,” including its mobilization of additional troops and open issuance of nuclear threats.

Forbes Russia notes that after Visa and Mastercard left the Russian market earlier this year and some banks were disconnected from SWIFT, cryptocurrencies, in particular stablecoin USDT, became one of the most popular ways for Russians to move money abroad.

However, even with sanctions from the EU, decentralized exchanges will remain available for Russian users, which do not have a centralized intermediary between the seller and the buyer, and crypto assets are traded using smart contracts.

Such exchanges cannot control transactions between their users - they also do not store their clients' funds and passwords from their crypto wallets.

“In the event of a ban, traders from Russia can switch to such crypto exchanges as FTX, Huobi, Bybit. But if the site is interested in the European market, then it will most likely have to choose - either to keep the audience in Russia, or to support sanctions and not have problems in the European Union," Sergey Mendeleev, CEO of InDeFi Smart Bank, says.

He advises investors not to hold large amounts on centralized exchanges, especially if the account is verified with a Russian passport.

Ethereum Drops To $1,300 Amid Bear Assault

Posted on October 7, 2022March 6, 2023 by Adam Smith

The crypto market is currently reacting to new economic data published in the United States. Ethereum, like many other cryptocurrencies, has been following trends and giving back its profit from this past week as it moves along with Bitcoin and other large digital currencies.

Ethereum trades at $1,300 with a 2% loss and sideways movement in the last week. Other cryptocurrencies in the top 10 by market capitalization record similar price action with the exception of XRP. This token is showing strength against the trend and continues to knock on profits over the same period.

The recent price activity has elicited a favorable response from the Ethereum price, with bid (buy) liquidity entering the market at today's low. As a result, the price of ETH has received support, allowing it to rebound to the vicinity of approximately $1,340.

Despite the selling pressure, there has been a reduction in selling activity over the past few hours. Significant players with bid orders amounting up to $100,000 have entered the Ethereum market, purchasing the cryptocurrency for over $800 million within a short period.

This significant buying activity could potentially provide support to the price of ETH in the near term. However, ETH's price may face a risk as the market approaches the weekend.

For Ethereum and Bitcoin, $1,200 and $18,500 are key levels to prevent a fresh leg down into the yearly lows. According to a pseudonym trader, as long as these levels hold, the cryptocurrency will hold the line with more days of sideways movement.

Apple Removes MetaTrader Trading Platforms from App Store

Posted on October 3, 2022March 6, 2023 by Adam Smith

The popular forex and CFD trading platform, MetaTrader (MT4, MT5), developed by MetaQuotes, has been removed by Apple from its App Store without any prior announcement.

As a result of this removal, iPhone and iPad users will no longer be able to download these platforms. However, those who have already installed them can continue to use them. Nonetheless, they will not have access to any updates, upgrades, and fixes. Traders can still access the MetaTrader web platform through their browsers.

The reasons behind Apple's decision to remove MetaTrader from the App Store remain unclear. Nevertheless, it is believed that recent accusations against MetaTrader may have prompted the move. Allegedly, fake brokers have been using the platform to perpetrate cryptocurrency scams, such as pig butchering. The scammers create long-lasting relationships with victims, gradually persuading them to deposit additional digital assets into fake crypto wallets or websites operated by the scammers.

The sudden removal of the Cypriot-based MetaQuotes has caused considerable turmoil in the forex and contract for differences (CFD) markets. Apple's decision was unexpected, and it affects not only MetaQuotes but also dozens of brokers who use the platform. As of Q2 2022, collectively, MT4 and MT5 held 83.4% of the total market share.

The market has responded strongly to the news of the removal, given the dominant position of MetaQuotes in the forex and CFD trading industry.

MetaQuotes has been a giant in the forex and CFD trading provider space since its inception. The software provider has been around for decades and is still one of the most popular online retail forex trading platforms. For more information, visit the official website of MetaQuotes.

Award-Winning Broker Eightcap Launches New AI-powered Economic Calendar

Posted on February 27, 2023February 27, 2023 by Adam Smith

Eightcap, a well-known global FX and CFD services provider based in Melbourne, Australia, has recently introduced an innovative tool for its clients: an economic calendar powered by AI. Developed in collaboration with Acuity, the calendar offers a comprehensive overview of more than 1000 macroeconomic events, sorted by their potential impact on the market. This tool aims to help traders manage market volatility triggered by economic events more efficiently and make good trading decisions.

The new economic calendar introduced by Eightcap differs from traditional calendars as it offers a range of unique features providing valuable insights into the market's reaction to economic events. Not only does it give an overview of upcoming macroeconomic events, but it also explains the reason behind the event's impact and how the market will react.

The CEO of Eightcap, Alex Howard, believes that the new AI-powered economic calendar will offer clients a powerful new tool to stay ahead of the fast-moving markets. He also emphasizes that Eightcap is committed to providing a wide range of tools and educational resources to enhance its clients' trading experience, enabling them to make smarter trading decisions.

With the new economic calendar, traders can leverage AI-powered advanced filtering to identify potential trading opportunities across 100+ countries and 1000+ macroeconomic events. The filtering technology utilizes bright and bold elements to highlight events with high, medium, and low-impact levels, helping traders prioritize their attention and focus on the most relevant events.

Andrew Lane, CEO of Acuity Trading, expressed enthusiasm for their partnership with Eightcap, a prominent online broker in the industry. He highlighted the potential to expand their reach and provide more traders with access to their powerful AI-based tools.

The new economic calendar will be available to all Eightcap clients and can be accessed via the Eightcap client portal. Additionally, traders can conveniently run the economic calendar as an EA tab on the MT4 or MT5 research terminal. This integration allows traders to access news, sentiment data, and other features within the same window, enhancing their user experience and enabling them to make more informed trading decisions.

About Eightcap

Eightcap is a top-tier derivatives provider established in Melbourne, Australia in 2009. The company offers its clients a diverse range of financial markets to trade on, including Forex, Indices, Shares, Commodities, and Cryptocurrency CFDs. Eightcap is authorized and regulated by several prominent financial regulatory bodies, including the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Securities Commission of The Bahamas (SCB).

The company is committed to providing its clients with the best possible trading experience and continually strives to improve its platform. The partnership with Acuity Trading is a testament to this commitment, as it enables Eightcap to offer cutting-edge tools and resources to its clients.

For more information about Eightcap or the economic calendar, please see here.

ACY Securities has announced about Australia China Future Forum sponsorship

Posted on November 15, 2019February 13, 2023 by bar

At the press conference that was hosted on the 31st of October, the Australia China Future Forum (ACFF) has formally announced the upcoming annual ACFF event which will celebrate the 5th year anniversary of the China-Australia Free Trade Agreement.

During this media-addressing panel the first elected Chinese Australian Member of Parliament and co-founder of ACFF, the Honourable Dr Helen Sham-Ho was present. The panel has also included Ian Tam – convener & co-founder of ACFF, Dr. Jim Harrowell – NSW Special Envoy for China and Gravin Ho – Adviser to ACFF and two major industry sponsors.

Justin Pooni, Head of Branding & Communications at ACY Securities, which is a major industry sponsor of the Australia China Future Forum formed part of the panel which addressed the media.

Mr Pooni has commented on the Australia China Free Trade Agreement and ACFF:

“ACY Securities is very pleased to support the Australia China Future Forum. This is an initiative that fosters positive bilateral relations between these two countries, and that is something that’s very important to us because having a strong trade and economic relationship is a win-win for both of these two very great countries.”

Last year’s ACFF event featured the Honourable Kevin Rudd, 26th Prime Minister of Australia.

The 2019 ACFF event will take place on 17th November in Sydney.

You can read our full review on ACY Securities broker.

ACY Securities appointed Alla Darwish as new Head of Global Brokerage

Posted on November 30, 2019February 13, 2023 by bar

ACY Securities, an ASIC regulated multi asset online trading provider has announced the appointment of Alla Darwish as their new Head of Global Brokerage.

Mr Darwish has previously been working in sales and business development in the global FX and CFD markets for 12 years. Now at ACY Securities he will be responsible for recruiting, managing and growing the business development teams in Australia and around the world.

ACY Securities Co-founder and Co-director Jimmy Ye said Mr Darwish will play an important role in executing the growth and development vision for ACY Securities in key global markets.

Mr. Ye has commented on this appointment: “We are very pleased to have Alla Darwish on board. He brings a wealth of experience in developing and managing highly successful sales and BD teams in markets around the world and his appointment will be instrumental in helping us execute our strategic plan in relation to our global expansion.”

Mr Darwish, who formally took his post at ACY Securities last month, said he was delighted to join the company and outlined a number of key factors that would see the brokerage continue on a strong and steady growth trajectory.

He added: “I’m absolutely delighted to join ACY Securities. Being an Australian-based global FX and CFD broker offering superior trading conditions at very low cost of trading, along with strong tech and operational structures, I see tremendous ongoing growth for the company in all key markets including in the APAC region, UK & Europe, MENA region and the Arabian Gulf”.

This is the fourth executive appointment ACY Securities has made in under six months.

You can read our full review on ACY Securities broker.