Category: News

Vantage Markets, a prominent multi-asset broker, has made a strategic move to lower the minimum deposit requirements for accessing Copy Trading on its platform. This decisive action comes in response to a recent survey that indicated a robust interest in Copy Trading among its clients, with over 60% of active traders expressing a desire to explore this trading strategy on the Vantage App.

The survey, instrumental in shaping this new direction, revealed that approximately 19.7% of respondents were yet to familiarize themselves with copy trading but showed a keen interest in learning more. Furthermore, almost half of the participants, precisely 47.5%, were eager to see more attractive incentives and promotions.

Acting on this valuable feedback, Vantage Markets has lowered the minimum deposit requirement for Copy Trading from US$200 to a much more accessible US$50, effective immediately. This strategic modification aims to make copy trading more accessible, allowing clients to diversify their portfolios and maximize returns at a reduced cost.

Assistant App Marketing Director at Vantage, Lian Jie, elaborated on the change: “Our clients are looking for means to expand their portfolio and maximize their returns with minimal cost. Our reduced minimum deposit provides a lower barrier for them to explore copy trading and adopt it as part of their trading strategy.”

Vantage’s commitment to enhancing its user experience doesn’t end here. Acknowledging the need for comprehensive educational resources, particularly among novice traders, Vantage is geared up to unveil a series of educational tutorials and user guides in the upcoming months.

These resources aim to empower traders with essential knowledge and practical guidance, covering a breadth of topics from account opening, and mastering the fundamentals of copy trading, to navigating advanced trading tools.

Lian Jie further added, “User satisfaction is a huge part of our work, and our in-app client surveys have allowed us to remain attuned to our clients’ trading needs and experiences. Our additional educational materials will be beneficial to all our traders, from the novice to the experienced.”

Vantage Markets continues to show its dedication to meeting traders’ needs and enhancing their trading experience, fostering an environment where traders, whether novice or experienced, can thrive and navigate the trading landscape with confidence and ease.

In a dynamic move to revolutionize the banking experience for its customers, Swissquote has recently augmented its mobile app, introducing a host of new daily banking features. The app’s latest version is a one-stop solution catering to a variety of user needs, ranging from conventional banking to cutting-edge investment options in cryptocurrency.

The enriched Swissquote mobile app facilitates its users in ordering and managing the newly launched multi-currency debit cards. These innovative cards, available in both physical and virtual versions, seamlessly integrate cryptocurrency transactions, proving Swissquote’s commitment to staying at the forefront of fintech innovations. These debit Mastercards are robustly compatible with major digital wallets and come bundled with enticing cashback rewards, enhancing the overall user experience.

The introduction of eBill features within the app heralds a simplified and stress-free end-of-the-month billing process for users. Clients can manage payments with improved ease, as the app thoughtfully assimilates multiple eBanking facilities, such as payments, transfers, and a multitude of integrated payment services, including Apple Pay, Google Pay, Samsung Pay, and Twint.

Swissquote’s revamped app offers a comprehensive trading platform, providing users access to an impressive array of over 100,000 financial instruments. Traders can easily navigate through real-time prices, graphical representations, and essential information necessary for informed trading decisions. The app’s intuitive design allows traders to customize and monitor their preferred trading products, equipping them with powerful tools such as charts replete with technical analysis indicators.

Traders are empowered to hold over 20 different currencies within a single account, replete with individual IBANs, and benefit from favorable exchange rates. In a testament to its pioneering spirit, Swissquote was the inaugural Swiss bank to embrace Bitcoin and other cryptocurrencies, perpetually innovating its offerings to maintain a competitive edge. The app allows users to engage in a broad spectrum of investment avenues, from conventional stocks and ETFs to a variety of cryptocurrencies.

Swissquote’s mobile app’s newest enhancements herald a new era of convenience and innovation in the daily banking experience. The inclusion of advanced features such as multi-currency, crypto-friendly debit cards, integrated eBanking services, and a comprehensive trading platform, positions Swissquote as a leader in delivering sophisticated and seamless banking and investment solutions to its global clientele.

In a groundbreaking move, the China Securities Regulatory Commission (CSRC) has issued a notice, forbidding domestic and overseas brokerages from acquiring new mainland clients for offshore trading activities. An unprecedented action, this decision symbolizes China’s steadfast resolve to regulate capital outflows and fortify its currency’s stability.

The notification, disseminated on September 28, and not previously disclosed, lacked a specific enactment date, though insiders believe the regulations were meant to be applied instantaneously. The CSRC has further stipulated an impending deadline in October for the discontinuation of apps and websites engaging mainland clientele.

Brokerage Firms Navigating the Regulatory Waters

In light of these novel regulations, brokerage firms, notably those predominantly involved in offshore trading such as Citic Securities, China International Capital Corporation, and Haitong Securities, are poised to face substantial impacts. These firms, owning considerable Hong Kong-based factions, derive a significant fraction of their revenues from offshore trading activities. At the point of releasing this report, the brokerage conglomerates had yet to issue a statement in response to inquiries from global news agencies.

The new restrictions are meticulously designed to bolster surveillance and curb new investments from existing mainland clients, ensuring a stringent adherence to China’s foreign exchange controls.

Navigating Economic Currents: China’s Economic Standpoint

China’s economic landscape has been marred by a deceleration in growth rates, triggering an escalation in overseas investments. Such overseas capital movements have exerted immense pressure on the yuan’s exchange rate, prompting the government’s active involvement in attempting to stabilize the currency and assert robust control over capital flows.

Reviewing the Regulatory Landscape of Offshore Trading

Reflecting on past occurrences, China has witnessed similar initiatives aimed at regulating offshore trading and investments. Prominent online brokerages like Futu Holdings Ltd and UP Fintech Holding Ltd have previously withdrawn their apps voluntarily in China, aligning with the government’s heightened emphasis on data security and management of capital outflows.

Conversely, Chinese investors will retain the ability to infuse capital into offshore securities through sanctioned avenues like the Stock Connect program with Hong Kong and other quota-based initiatives such as the qualified domestic institutional investor and the qualified domestic limited partnership programs.

Moving forward, the global financial spectrum will be keenly observing the repercussions of these novel regulatory measures on offshore trading and broader investment activities. The definitive impacts of these initiatives on China’s economic and financial stability will unfold in the ensuing months.

In a significant move to enhance its capabilities in the Middle East and North Africa (MENA) region, Australia-based Retail FX and CFDs broker, ACY Securities, has announced the appointment of Dr. Nedal Alchaar as their Chief Economist. Dr. Alchaar will be operating from Istanbul, Turkey in this new capacity.

With a stellar reputation in finance, economics, and academia, Dr. Alchaar brings to the table a wealth of knowledge in financial markets, complemented by his expertise in Islamic Finance regulatory work.

Before this latest role at ACY Securities, Dr. Alchaar served as the Minister of Economy and Trade in Syria. His distinguished career also includes pivotal roles at notable institutions such as Fannie Mae and Johnson & Higgins in Washington D.C. Additionally, he has contributed to academia as an adjunct professor of Economics and Finance at George Washington University.

Dr. Alchaar is no stranger to recognition, having authored numerous books and scientific articles on banking and financial markets, especially in the domain of Islamic Economics and Finance. Among his accolades is the coveted His Highness Sheikh Mohammed Bin Rashid Al Maktoum Prize for Banking Excellence in 2006. Furthermore, Arabian Business Magazine has previously ranked him the eighth most influential business figure in the Arab World. Notably, he has twice been nominated for The Nobel Prize for his significant contributions to Islamic Economics and Finance.

This latest appointment signals ACY Securities’ dedication to providing unparalleled expertise and insights to its clientele. The firm expressed confidence in Dr. Alchaar’s capacity to amplify its offerings, especially given the swiftly evolving global economic context. ACY Securities envisions his addition to the team as pivotal in their ongoing efforts to innovate and excel in the MENA market.

The hiring of Dr. Alchaar stands as a testament to ACY Securities’ commitment to navigating its clients through the complex shifts in the global economic landscape. It is anticipated that his guidance will significantly influence ACY’s growth trajectory in the MENA region.