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eToro Announces Changes to Wallet Services for German Users

etoro

In a significant update affecting its German user base, online brokerage giant eToro has announced the discontinuation of its wallet services in Germany, effective January 14, 2024. This move marks a pivotal change in how German clients will manage and access their cryptoassets.

Starting January 14, eToro wallet users in Germany will face notable changes:

  1. Access to eToro Wallet Ceases: Users will no longer be able to access their eToro wallet, a tool previously used for managing cryptoassets.
  2. Restrictions on Transfers: The ability to transfer cryptoassets from the eToro account to the eToro wallet, or to any external destination, will be terminated.
  3. Migration of Assets to Tangany: Any remaining cryptoassets within the eToro wallet will be automatically transferred to Tangany, a renowned crypto custodian. Post-migration, these assets will be integrated into the users’ eToro portfolios. However, these assets will be limited to ‘close only’ transactions, meaning users can sell but not purchase additional assets.

For those users looking to transfer their crypto holdings to a different custodian service, eToro has provided a pathway. Users are advised to directly contact Tangany at withdrawal@tangany.com to facilitate any transfer requests. This collaboration with Tangany indicates eToro’s commitment to ensuring a secure and regulated environment for their users’ crypto holdings.

This update signifies a strategic shift for eToro in Germany, as the company aligns with regulatory requirements and evolving market dynamics. While the closure of the eToro wallet service may initially inconvenience some users, the partnership with Tangany is expected to provide a more streamlined and secure management of cryptoassets.

eToro’s decision reflects the ongoing evolution in the digital asset space, where security and regulatory compliance are increasingly becoming paramount. As the crypto market matures, such adjustments are anticipated to become more commonplace, ensuring a safer and more reliable environment for crypto investors.

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Fxview Expands Team with New Africa Regional Manager Christoforos Panagiotou

In a significant move signaling its ongoing expansion, Cyprus-based retail FX and CFDs broker Fxview has appointed Christoforos Panagiotou as its new Africa Regional Manager. This decision marks yet another strategic hire in the company’s recent spree of augmenting its leadership team.

Fxview

Christoforos Panagiotou brings to Fxview a wealth of experience from his previous tenure at Tickmill. Having worked there for seven years, Panagiotou played pivotal roles in senior sales, contributing substantially to Tickmill’s growth and market presence. His expertise is expected to be instrumental in driving Fxview’s expansion efforts across the African continent.

This appointment comes on the heels of another significant hire by Fxview. The company recently brought on board Feras Mahmoud, formerly Orbex’s Head of Trading, to lead its Risk Management division. These strategic additions to the team underline broker’s commitment to strengthening its global operations and expertise.

Owned by the India-based Finvasia Group, Fxview is part of a larger network of financial services and technology firms. The group, under the leadership of brothers Sarvjeet Singh Virk and Tajinder Virk, also owns the retail FX brand AAAFx, the social trading platform provider ZuluTrade, and ActTrader, a provider of multi-asset trading platforms.

Fxview’s aggressive talent acquisition strategy, coupled with its diversified business portfolio, positions it as a rising force in the global financial trading industry. The appointment of Christoforos Panagiotou as Africa Regional Manager is a clear indicator of the firm’s commitment to expanding its footprint in emerging markets, with a particular focus on Africa’s burgeoning financial sector.

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eToro Appoints Massimo Citoni as Regional Manager for Italy

In a strategic move aimed at further strengthening its presence in Italy, eToro, the renowned Retail FX and CFDs broker, has announced the appointment of Massimo Citoni as the Regional Manager for Italy.

eToro

Massimo Citoni, a seasoned professional within the company, will assume a pivotal role in leading eToro’s operations in Italy. His primary objectives will encompass driving market growth, ensuring operational excellence, and cultivating strategic partnerships with local entities. Furthermore, Massimo will oversee all marketing initiatives within the region and spearhead customer retention efforts, with a focus on enhancing the experience for Italian clients and members of the eToro Club.

Effective December, Massimo Citoni will also join the board of the prestigious Italian fintech industry association, AssoFintech.

Massimo Citoni’s journey with the broker began in 2015 when he joined as an Account Manager. Over the years, he has demonstrated an impressive ability to manage high net worth client relationships in Italy, showcasing a profound understanding of client needs and the intricacies of the Italian market.

His unwavering dedication and expertise paved the way for his ascent within the organization, ultimately leading to his promotion to Head of the Italian Desk in 2023. Massimo Citoni is also a certified financial advisor, holding accreditation from both CySEC and ASIC.

Commenting on this significant appointment, Etay Cohen, Chief Customer Officer at eToro, expressed his enthusiasm: “We are thrilled to promote Massimo Citoni to the role of Regional Manager for Italy. His exceptional track record and deep understanding of the Italian customer make him the perfect fit for this position. Massimo’s dedication and insight have been invaluable to eToro, and we are confident that under his leadership, eToro will achieve new heights in the Italian market.”

Massimo Citoni, now Regional Manager Italy at eToro, added: “Taking on this new role at the company is a privilege. We are committed to continuing to grow our presence in Italy and to being an active industry participant. I am excited to join the Board of AssoFintech and to deepen our partnership with the Fintech District to help advance the fintech ecosystem in Italy.”

With Massimo Citoni at the helm, eToro looks poised to further expand its footprint in the Italian financial landscape, solidifying its commitment to providing top-notch services and expertise to its clientele in the region.

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ThinkMarkets Enhances ThinkTrader Web Platform with TradingView Integration

ThinkMarkets, a Melbourne-based brokerage firm, has unveiled a significant upgrade to its ThinkTrader web platform by seamlessly integrating the widely acclaimed charting software, TradingView. This enhancement aims to empower traders with advanced tools and a more comprehensive market perspective.

The integration of TradingView into ThinkTrader web introduces a slew of cutting-edge features that promise to enhance the trading experience for users. Among the standout features is the ability to monitor multiple charts concurrently, with support for up to eight charts, providing traders with a more holistic view of the financial markets.

One-click synchronization is another valuable addition to the platform, enabling traders to swiftly apply adjustments made to one chart across other charts, simplifying the customization process and saving precious time.

Furthermore, ThinkTrader web now boasts advanced technical tools designed to equip traders with the resources needed for in-depth market analysis and decision-making. These tools facilitate the observation of market movements across various time intervals, granting traders unique perspectives and deeper insights into evolving market trends.

The platform’s integration with TradingView also introduces a specific date navigation feature. This enables traders to efficiently access historical market data for a specific date, facilitating the analysis of past market behaviors and patterns for informed decision-making.

In response to user feedback, ThinkMarkets has included undo/redo buttons in the upgraded platform, making it easier for traders to modify chart settings. Additionally, users can now customize shortcuts to their preferred intervals, enhancing their ability to swiftly access critical information.

This integration with TradingView is part of ThinkMarkets’ ongoing commitment to evolving its platform and providing users with enhanced tools and functionalities. Earlier this year, the broker introduced ThinkCopy, a copy trading platform aimed at offering clients access to experienced traders and a range of social features. This innovative tool enables investors to search and compare the performance of numerous proven traders and automatically mirror their trades.

ThinkMarkets made headlines recently when it decided to abandon its previously announced merger plan with Canada-listed blank check company, FG Acquisition Corp. The merger, which would have valued ThinkMarkets at $160 million on a pre-money basis, was called off despite the brokerage’s impressive $62 million revenue generated in 2022.

ThinkMarkets, a multi-licensed online forex brokerage firm, is authorized and regulated by the UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). The firm has expanded its global presence through its licensed South African subsidiary and further extended its reach by acquiring the Japanese FX firm, Japan Affiliate, allowing it to offer its services in the Asian market.

With these recent enhancements, ThinkMarkets reaffirms its commitment to providing traders with the tools and resources necessary to navigate the financial markets effectively. The integration of TradingView into ThinkTrader web positions the platform as a more powerful and versatile tool for both novice and experienced traders alike.

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IG Group Announces Breon Corcoran as New CEO

In a significant development, IG Group Holdings, a leader in electronic trading, has officially announced the appointment of Breon Corcoran as its new Chief Executive Officer. The appointment, set to take effect on 29 January 2024, marks the culmination of an extensive global search by the company’s Board.

IG Group Announces Breon Corcoran as New CEO

Breon Corcoran’s arrival as CEO is eagerly anticipated, following his impressive track record in leading multinational fintech companies. He will also join the Board of IG Group, pending regulatory approval. Until his joining, Charlie Rozes will continue to serve as the Interim CEO and Group CFO. Post Corcoran’s induction, Rozes will resume his role solely as Group CFO and a member of the Board.

With a career that started as a derivatives trader at Bankers Trust and JP Morgan, Corcoran brings a wealth of experience to the table. His most recent role was as CEO of WorldRemit until 2022, and before that, he led Paddy Power Betfair, a FTSE 100 company, until 2018. His expertise in guiding companies through phases of growth and his deep understanding of the fintech landscape make him an ideal fit for IG Group’s ambitious growth plans.

Mike McTighe, Chair of IG Group, expressed his satisfaction with the appointment, stating, “Breon is a proven leader with the ability to deliver results for all stakeholders. The Board is confident that he is the right person to lead IG and deliver the next phase of growth. I look forward to working with him.”

Echoing this enthusiasm, Breon Corcoran commented on his new role, “I am delighted to be joining IG Group, a business I’ve long admired. I look forward to working with the Board and executives to build on its current successes.”

Corcoran’s current role as the non-executive Chair of Auction Technology Group plc adds to his diverse experience. His leadership at IG Group is expected to steer the company through its next phase of growth and innovation, further solidifying its position in the competitive landscape of electronic trading.

With this strategic leadership change, IG Group appears poised for an exciting future, leveraging Corcoran’s vast experience and dynamic approach to navigate the evolving fintech sector.

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ATFX Welcomes Simon Naish as New Country Head in Australia

In a significant development for the financial industry, ATFX, a globally recognized online trading broker, has appointed Simon Naish as the new Country Head for its operations in Australia. The announcement was made on November 20, 2023, signaling a strategic move to bolster the company’s presence in both Australian and global financial markets.

ATFX Welcomes Simon Naish

Simon Naish, renowned for his extensive experience in financial markets, joins ATFX after a notable tenure at National Australia Bank Ltd, where he led institutional FX Sales for the Asia-Pacific region.

His expertise in foreign exchange trading and risk management in global markets is a testament to his capability to drive growth and innovation in the dynamic online trading sector. Naish’s appointment is expected to bring a renewed focus on client-centric services and market expansion.

Previously holding significant positions in major financial institutions, Naish’s role as Head of Bank and Diversified Financial Institutions FX Sales, APAC at NAB, and his consultancy at Macquarie University with the Australian Financial Markets Association, has honed his skills in institutional client sales, foreign exchange, rates trading, and business transformation.

Joe Li, expressing enthusiasm over Naish’s appointment, highlighted his comprehensive expertise and leadership skills as pivotal for driving ATFX’s business forward in Australia. “We are delighted to have Simon Naish join ATFX as the Country Head for ATFX Australia. His extensive expertise and leadership skills make him the ideal candidate to drive our business forward in this key market. We are confident that ATFX Australia will continue to thrive under Simon’s guidance and provide exceptional services to our clients,” said Li.

ATFX, established as a forex brokerage firm known for its transparency, reliability, and innovation, provides clients with advanced trading technology, educational resources, and comprehensive market analysis. Launched in 2019, the platform marked broker’s entry into the institutional arena, offering tailored liquidity solutions to various financial institutions.

Holding licenses in multiple countries, including the UK, Cyprus, the UAE, and Australia, the firm’s latest move in appointing Naish is seen as a strategic step in reinforcing its market position and enhancing its global footprint.

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FP Markets Bolsters Commodity CFD Trading Offerings Amid Rising Demand

In a significant expansion of its trading services, Australia-based retail FX and CFDs broker FP Markets has announced an enhancement of its commodity CFDs offering. This strategic move is a response to growing client demand, aiming to provide traders and investors with more opportunities in the dynamic commodities market.

FP Markets

FP Markets’ expansion includes a variety of new and sought-after commodities. Notably, it now offers spot gold (XAU) trading against several major currencies, including the British pound (GBP), the Singapore dollar (SGD), and the Chinese Renminbi (CNH). Additionally, traders can now access a range of hard commodities traded against the US dollar, such as Lead (XPB/USD), Zinc (XZN/USD), Nickel (XNI/USD), Aluminium (XAL/USD), and Copper (XCU/USD).

These newly introduced commodity CFDs are available on broker’s widely-used trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. For a detailed list and further information, clients and interested investors are directed to the broker’s website.

Christodoulos Psomas, FP Markets’ Head of Market Risk and Dealing in Europe, expressed enthusiasm about the new offerings. “We are excited to introduce a range of new metal products, expanding our portfolio and offering more diversification options for our clients,” he said. Psomas emphasized the company’s commitment to innovation and tailoring trading opportunities to meet the evolving needs of their clients.

The addition of these commodities not only broadens FP Markets’ product range but also provides flexibility and choice for investors, especially those looking to diversify their portfolios. Beyond commodities, the broker offers access to over 10,000 trading instruments, including more than 70 currency pairs, global equity indices, individual stocks, a wide array of digital currencies, as well as popular bonds and ETFs.

About FP Markets

Established in 2005, FP Markets is a multi-regulated brand known for providing clients with a vast range of tradable instruments across key asset classes.

The company prides itself on delivering consistently tight spreads, rapid execution, unmatched 24/7 multilingual customer support, and a variety of account types to suit diverse trading strategies and styles. With its aggregate pricing from several top-tier liquidity providers, FP Markets stands as a leading player in the global trading market.

Read more about FP Markets or visit their website.

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OANDA Japan Set to Close Inactive Accounts, Urges Customers to Act Before Deadline

OANDA Securities, the Japanese branch of the global online brokerage firm OANDA Corporation, has recently announced a significant policy change affecting its clients. The brokerage has decided to shut down accounts that have been inactive for over two years and hold no balance. This move is part of the company’s effort to streamline operations and manage resources more efficiently.

OANDA

In a proactive step, OANDA has reached out to its customers with inactive accounts through emails sent to their registered addresses. This communication serves as a formal notice and a call to action for clients who wish to maintain their accounts.

To avoid account closure, clients must ensure that their accounts have recorded deposits and transactions by 15:00 on November 17, 2023. Accounts meeting these criteria will continue to function normally. However, for those who do not take any action by the specified deadline, OANDA has scheduled to begin the closure process in a phased manner starting November 20th.

For customers who might reconsider their decision post-cancellation, OANDA Japan offers a solution. These individuals have the option to re-join the platform as new members by undergoing the registration process again.

OANDA’s decision to close inactive accounts underlines the importance of active account management in the online brokerage industry. It also reflects a growing trend among financial service providers to optimize their client base for operational efficiency.

Clients of OANDA Japan are advised to review their account status and take necessary actions, if they wish to continue availing the services of the brokerage firm. This development is a reminder for all in the digital finance space to stay engaged with their financial service providers to avoid unforeseen account closures.

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FP Markets Unveils New Enhanced Client Portal for Efficient Trading

In a significant step forward for its clients, FP Markets, a leading Retail Forex and CFD broker, has announced the launch of its newly redesigned Client Portal. This launch marks a transformative shift in how traders and investors interact with FP Markets’ services, offering a raft of enhanced features and functionalities.

FP Markets

The overhauled Client Portal introduces a modern and user-friendly interface, ensuring a seamless and intuitive experience for all users. This significant upgrade is characterized by its sleek design, improved user experience, and a set of innovative features, catering to the evolving needs of modern traders and investors.

Key highlights of the new Client Portal include:

  • Enhanced User Interface: The portal boasts a contemporary design, prioritizing ease of use and a seamless client experience.
  • Streamlined Navigation: Clients can now navigate effortlessly through various functionalities, including account management, funding operations, and platform selection.
  • Integrated Social Trading: The portal provides direct access to social trading platforms, allowing clients to engage and learn from a community of traders.
  • Real-Time Notifications: Clients will receive instant updates on their account operations, ensuring they never miss an important market move.
  • Access to Economic Indicators: The portal provides real-time access to economic indicators, keeping users informed of market-moving events.

Kim Reilly, FP Markets Project Manager, expressed excitement about the launch: “We’re thrilled to unveil the upgraded client portal. It’s more than just a facelift; it’s a complete transformation, putting our clients’ needs at the forefront. From seamless navigation to a comprehensive suite of trading tools, we’re confident that our clients will appreciate the enhanced trading experience.”

Established in 2005, FP Markets has cemented its position as a multi-regulated entity, offering over 10,000 tradable instruments across various asset classes. The company stands out for its aggregate pricing, sourcing from several top-tier liquidity providers, underscoring its commitment to providing clients with optimal trading conditions.

The launch of the new Client Portal is a testament to FP Markets’ dedication to innovation and client satisfaction, further solidifying its status as a leading player in the global trading landscape.

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FairMarkets’ CEO James O’Neill Moves to BlueBerry Markets

In a significant shift in the Forex industry, Blueberry Markets, an Australian Retail FX and CFDs broker, has announced the appointment of James O’Neill, the former Chief Executive Officer of FairMarkets, to a senior executive position within their company.

James O’Neill is known for his extensive experience in the financial markets, having served at FairMarkets Trading Pty Ltd, an Australian Securities and Investments Commission (ASIC) regulated firm. His career with FairMarkets spanned over eight years, beginning as Executive Director in 2015. He was appointed CEO in 2020, before returning to his role as Executive Director from 2021 until his recent move in 2023.

The transition comes after FairMarkets was integrated into the Turkish brokerage group GKFX, which has now become part of Trive, signaling a broader consolidation trend in the industry.

In a recent LinkedIn announcement, O’Neill expressed his enthusiasm about joining Blueberry Markets, commending the firm’s remarkable growth and vibrant company culture: “Excited to announce that I am now a Blueberrian! For the last 7 years, I’ve watched the incredible and exponential journey of Blueberry Markets as an outsider with equal measure of admiration and envy. Day 1 and what is already apparent is the great culture that has incubated this great company. Looking forward to rolling up my sleeves and joining such a high-performing team!”

Founded in 2016, Blueberry Markets has quickly established itself as a significant player in the trading sector under the direction of Founder and Managing Director, Dean Hyde, who has a noteworthy tenure in the industry with previous roles at other Australian brokers, including Axi. While Blueberry Markets Pty Ltd operates under ACY Securities Pty Ltd’s ASIC license by introducing clients to them, its growth trajectory has been noteworthy.