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US Stocks Surge Without the Help of Retail Investors

Despite the notable absence of retail investors in recent weeks, US stocks have experienced a steady climb, with the S&P 500 Index gaining 8.6% since the fallout from Silicon Valley Bank’s failure. While daily equity purchases from retail investors have declined by 27% compared to the average of the past two years, the market has shown resilience

US Stocks Surge

The aftermath of Silicon Valley Bank’s collapse on March 10 has reverberated through the US banking system, yet it has failed to halt the upward trajectory of the S&P 500 Index. On Friday, the index experienced a minor setback, declining by 0.1% after reaching a year-to-date and nine-month high of 4,198.05.

Surprisingly, the recent rally in the stock market has occurred in the absence of active participation from retail investors. According to Vanda Research Ltd., average daily equity purchases by retail investors have dropped significantly, falling 27% below the two-year average.

Vanda Research suggests that declining interest in the financials sector accounts for a significant portion of the reduced retail investor activity. However, it is worth noting that this sector still attracted more net inflows than any sector except information technology.

Despite the decreased involvement of retail investors, daily trading activity has surged by more than 20% in ten specific stocks or ETFs during this period. A notable trend is the prominence of tech stocks, with seven out of ten being technology-related, led by Advanced Micro Devices. The remaining three include Charles Schwab, Bank of America, and JPMorgan Chase.

Remarkably, the US stocks market has maintained average daily net inflows close to $900 million for all but one day in the past two weeks until Thursday. This consistent influx of capital has contributed to the S&P 500’s impressive 3.2% increase during this period.

Despite the reduced presence of retail investors, US stocks have demonstrated resilience, defying market expectations. While retail investor interest has waned, daily trading activity remains robust, with tech stocks leading the charge. The steady flow of capital into the stock market has contributed to its overall growth, underlining the market’s ability to adapt and thrive even in the absence of significant retail investor participation.

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Oval Money’s Daniel Gladding Takes on Role as Chief Risk Officer at eToro

Following the closure of OvalX in March, former executives are securing positions at other companies. Among them is Daniel Gladding, who has previously worked for Admirals, StoneX, IG Group, and other notable firms.

Oval Money's Daniel Gladding Takes on Role as Chief Risk Officer at eToro

Daniel Gladding, the Group Chief Risk Officer at Oval Money, has joined eToro as Chief Risk Officer following the closure of OvalX. Gladding, who previously held executive positions at Admirals, StoneX, and IG Group, among others, made the announcement on LinkedIn. He expressed excitement about working in the world of zero-commission stocks, real crypto, derivatives, copy trading, debit cards, e-wallets, and much more.

Gladding’s move to eToro is part of a trend where former Oval Money and OvalX employees are finding new roles in other trading firms after the brokerage shut down. Nicole Simpson and Tony Adams joined BidX Markets and Alvar Financial, respectively, while Ella Hacer Gumus joined Trade Nation, and Mark Foulds became part of Alvar Financial.

With nearly two decades of experience, Gladding brings valuable expertise to his new role at eToro. He previously served as the Head of Risk at Admirals, where he played a key role in establishing a new risk function at the UK subsidiary of an Estonia-based FX/CFDs brokerage. Prior to that, he held senior positions at Capital Index, including Global Head of Risk and Chief Operating Officer.

Gladding’s tenure at StoneX as Vice President of Risk Management and Quantitative Analytics further contributed to his expertise. He began his career at IG Group, where he worked across various financial markets, specializing in vanilla and binary options after initially starting as a Market Maker for the FX, equities, and futures desk.

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Tickmill Expands its Presence in Dubai with New Office Opening

Tickmill, a retail brokerage headquartered in London, has recently announced its expansion into the Middle East and North Africa (MENA) region with the opening of a new office in Dubai.

Tickmill Expands its Presence in Dubai
Tickmill

Situated in the Emirates Financial Towers, the new office will offer local traders an extensive range of trading products, including currencies, commodities, and indices.

This move follows Tickmill’s successful acquisition of a license from the Dubai Financial Services Authority (DFSA) and the establishment of its subsidiary in the Dubai International Financial Center (DIFC).

With the Dubai license, Tickmill can now provide its FX and CFDs products to both retail and professional clients not only in the UAE but also across the other Gulf Cooperation Council (GCC) states, encompassing Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and North Africa.

The decision to expand into Dubai was driven by the region’s increasing demand for online trading services and the city’s prominent status as a major financial hub. Dubai attracts a substantial number of high-net-worth individuals and institutional investors, making it an appealing destination for forex brokers seeking to broaden their customer base.

The Dubai Financial Services Authority (DFSA) is the regulatory body responsible for issuing Forex Broker licenses and overseeing financial and subsidiary services within Dubai’s International Financial Center. The DFSA has witnessed a growing interest from authorized firms and global brokers in offering FX trading to retail customers in or from the DIFC.

Heading the new office in Dubai will be Joseph Dahrieh, supported by a diverse team responsible for various functions. Their primary focus will be to provide personalized assistance and support to local traders. Joseph, who has been instrumental in expanding the brand’s presence in the region for over 5 years, will serve as the country manager and market strategist.

In addition to its trading services, the new office will also serve as an educational hub, with Tickmill planning to organize regular seminars and training sessions for local traders.

The opening of the Dubai office is part of Tickmill’s broader expansion strategy, which includes the establishment of new offices in other significant markets worldwide. Since its establishment in 2014, Tickmill has obtained licenses from various regulatory bodies, including the UK FCA, CySEC, SC FSA, South Africa FSCA, and Labuan FSA.

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Equiti Capital UK Appoints Steve Reeves as New Chair

Equiti Capital UK appoints Steve Reeves as New Chair of the Board. Reeves brings more than 3 decades of a experience in the financial sector to the company.

Equiti Capital UK Appoints Steve Reeves as New Chair
Steve Reeves appointed as New Chair of Equiti Capital UK

The British subsidiary of Equiti Group Equiti Capital UK has recently announced the appointment of Steve Reeves as the new Chair of the Board. Reeves initially joined Equiti Capital in July 2022 as a non-executive director.

Reeves has over 30 years of experience in management roles held in multiple financial services companies. He has an immense background in trading and broking covering forex, commodities, equities, CFDs, derivatives, financial spread betting, and the EMI and payment services sectors, aligning with the offerings of Equiti.

Previously, he has hed several senior roles as the Group Finance Director for IFX Group, City Index, and ODL Group, and the Managing Director for AxiCorp UK.

“I am very much looking forward to working with the board of directors to deliver the company’s ambitious growth strategy within a robust governance structure,” said Reeves.

The appointment of Steve Reeves at UK Board took place a week after the appointment of Liam Conway as New CEO. The new CEO has more than 20 years of experience in the finance, previously holding the position of the CFO of Equiti.

For further information visit Equti Capital official website: www.equiticapital.co.uk

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BlackBull Markets Provides Free TradingView Pro Subscription

BlackBull Markets, an FX and CFDs broker based in New Zealand, has broadened its collaboration with TradingView, a professional trading and charting platform.

BlackBull Markets Provides Free TradingView Pro Subscription

BlackBull Markets’ clients who engage in one lot per month trading will enjoy complimentary access to TradingView Pro, the premium service, which is typically available for a fee. TradingView Pro offers a comprehensive suite of charting tools, backtesting capabilities, and custom technical indicators. In addition, it delivers real-time data from various exchanges and markets, which aids traders in keeping abreast of the most recent market trends.

The practice of charging for real-time access is commonplace, as users often have to pay for a market data feed that covers the costs to the consolidated market data provider and certain exchange fees.

TradingView Pro can be availed either on a monthly or annual basis and has different pricing levels according to the features and tools included. Pro subscribers have all the basic account privileges with added features and capabilities.

Since their initial partnership in 2022, BlackBull Markets’ users have been able to access over 300 tradable instruments, including Forex, Index and Single Stock CFDs, Commodities, Precious Metals, and Energy.

Established in 2014, BlackBull Markets is a licensed ECN broker by the New Zealand Financial Markets Authority and the Financial Services Authority (FSA) of Seychelles. The broker offers hundreds of tradeable instruments on the MT4 and MT5 platforms.

Today’s expansion of the partnership with TradingView is a significant step, incorporating BlackBull Markets into the TradingView platform as a supported broker in the trading panel. This allows users to trade directly through charts without leaving the platform.

TradingView users who are also BlackBull Markets’ customers can get personalized alerts on breaking news, interact with other users, record their thoughts, and scout the most active stocks of the day.

TradingView is a data-driven investor community with over 30 million active users per month and has to pay customers in over 180 countries worldwide. This is a remarkable growth since its launch in 2011 when it had just 2,000 visitors per day.

Additionally, TradingView operates a web store where users can purchase access to third-party tools. The company’s platform has been growing in popularity in recent years, marketing itself as a provider of smooth HTML5 charts covering a wide range of asset classes.

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Fortex Technologies Onboards Former Marketing Head of Spotware Systems

Fortex Technologies, a leading trading technology provider, has hired Aris Christoforou as its Head of Marketing and Regional Operations. Christoforou is a former executive at Spotware Systems, where he served as Head of Marketing for about a year before leaving in December 2022.

Fortex Technologies Onboards Former Marketing Head of Spotware Systems

In a post on LinkedIn, Christoforou expressed his excitement about joining Fortex Technologies, which he described as “an innovative and dynamic team” known for its “exceptional customer service and cutting-edge technology.”

Fortex, which has been in business since 1997, provides support for multi-asset trading, including forex, stocks, commodities, and cryptocurrencies. As a technology provider, the company offers an XForce trading platform to forex and CFDs brokers.

Christoforou’s appointment comes as Fortex Technologies is enhancing its flagship platform by adding new features. In his new role, Christoforou will lead the marketing strategy and oversee regional operations, with a focus on positioning Fortex as the market leader in the industry.

Before joining Fortex, Christoforou had worked in the financial services industry for several years, holding marketing roles with several brokers, including PrimeXM and AAATrade. He started his marketing career in 2013 outside the trading industry, joining a Cypriot motorcycle styling company before moving into the brokerage space.

In addition to his work in marketing, Christoforou is also the founder and CEO of Nutriapptech, a specialized CRM software, and mobile application directed for professional dietitians and nutritionists.

“We are thrilled to welcome Aris to the Fortex team,” said Jake Zhi, the Sales Director of Fortex Technologies. “His extensive experience in marketing and the financial services industry will be invaluable as we continue to expand our global footprint and serve our clients’ needs.”

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Darwinex Introduces D-Zero a Virtual Account with Zero Risk

Darwinex, a pioneering online brokerage firm, has launched D-Zero, a monthly subscription service that enables traders to build their track record and raise investor capital from a virtual trading account, with zero risk.

Darwinex
Darwinex

D-Zero provides users with a virtual trading account that can be used to attract investment to their trading strategy. If a profit is generated on the investments, the user will receive 15% of that profit as a reward for their skills.

Signing up for D-Zero is a straightforward and quick process, made easier by the virtual account setup. Interested individuals can sign up by clicking on any of the numerous ‘Get Started’ or ‘Sign up’ buttons on the Darwinex Zero website, which will bring them to the beginning of the registration process.

  • The registration process involves providing personal details and choosing the type of virtual trading account, either Forex & CFDs on MT5 or Forex & CFDs on MT4. After choosing the account and checking the Terms & Conditions, the user needs to fill out the complete form, make the payment, verify their D-Zero account, and set their passwords. The user will then receive login and password details for their MetaTrader MT4 or MT5 account.
  • The D-Zero journey begins with Stage 0, the ‘Training Stage’. During this phase, users need to trade in their virtual accounts in the same way they would normally trade. Darwinex asks users to accrue a number of trading decisions over a minimum of 10 trading days, allowing the risk engine to analyze their trading style and perform an initial assessment of how they manage risk so that it can calibrate accordingly.
  • The trades placed in the signal account produce trading signals that are then analyzed by the Darwinex risk engine. The engine generates the user’s DARWIN Index, which is based on their trades but with an adjusted level of risk, making it comparable with all other DARWINs on the platform.
  • Once both the DARWIN and risk management criteria reach 100%, the training stage is complete, and the user’s DARWIN Index can be created. The DARWIN Ticker, unique to each user, is then allocated, and the user can see their progress towards their DARWIN being created on the platform.

Following this, the user can give Darwinex permission to read and copy their trades, which will underpin their DARWIN Index. The user will participate in Darwinex’s monthly Seed Capital Allocation Programme, DarwinIA, where traders participate to get capital allocations. These allocations are considered as Darwinex investing in the user and their trading talent.

The sign-up fee for D-Zero is €95, which is higher than the subsequent ongoing monthly subscription costs of €38. The sign-up fee includes the Darwinex Zero account, the user’s trading platform of choice throughout the whole duration of the training stage, and the first month’s participation in DarwinIA SILVER.

For more information visit Darwinex’s official website www.darwinex.com

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IG Group Appoints NatWest Group Adam Wheelwright CTO

Wheelwright boasts prior experience with UKHSA, Nomura, Dresdner Kleinwort, and UBS. The executive’s hiring follows IG Group’s agreement to purchase Small Exchange.

IG Group Appoints Group Adam Wheelwright CTO
IG Group Appoints Group Adam Wheelwright CTO

London-based spread betting and CFD trading provider, IG Group, has enlisted Adam Wheelwright, formerly a Managing Director at NatWest Group, as its Chief Technology Officer. The company aims to accelerate its innovation initiatives with Wheelwright’s appointment.

In a Tuesday statement, IG Group mentioned that Wheelwright will assume his new role on April 17, 2023, and will be stationed at the firm’s London office. The seasoned executive brings nearly 30 years of financial industry experience to the position.

Wheelwright’s appointment comes on the heels of IG Group’s announcement that it will acquire Small Exchange in order to broaden its US offerings and utilize the Chicago-based futures exchange’s trading technology.

Prior to joining IG Group, Wheelwright held the position of Chief Information Officer for the National Health Service (NHS) Test and Trace team, a government-funded service that eventually became part of the UK Health Security Agency (UKHSA). During his tenure, he played a pivotal role in “the design, delivery, and evolution of all technological solutions supporting the nation’s pandemic response,” according to IG Group.

For more information about the broker visit their official webpage – iggroup.com

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InterTrader Appoints Joe Rundle, Former Capital.com Executive, as New CEO

Joe Rundle brings over 20 years of experience in the financial industry, having held key roles at notable forex and CFDs brands like ThinkMarkets, OvalX, and Markets.com. His expertise spans trading, partnerships, and growth strategies, making him a valuable asset in the financial sector.

Intertrader Appoints Joe Rundle, Former Capital.com Executive, as New CEO
InterTrader Appoints Joe Rundle as New CEO

InterTrader, a provider of spread betting and CFDs services, has appointed Joe Rundle, former Chief of Staff at Capital.com, as their new Chief Executive Officer. Rundle is set to assume the position in early April and brings over two decades of industry experience.

Rundle joined Capital.com over a year ago, taking on a Cyprus-based role that led the brokerage firm’s growth and diversification strategy. He has also been running a proprietary trading business, TradeOurCapital, since last year. Before joining Capital.com, Rundle held positions at prominent forex and CFDs brands like ThinkMarkets, OvalX, and Markets.com.

In his new role at InterTrader, Rundle aims to expand the company’s offerings beyond CFDs and spread betting to cater to a broader range of client’s financial needs. He plans to prioritize customer-centric multi-asset and multi-product solutions with a strong focus on regulation and responsibility.

Rundle’s extensive background includes stints as Director of Trading and Partnerships at both ThinkMarkets and OvalX, as well as heading CFDs and execution at OvalX for six years. His career began in 2001 as a trader at Saxon Financial, a proprietary trading firm.

To learn more about the broker, visit their official website- www.intertrader.com

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Equiti Group Appoints Ahmad Qutaishat as Vice President of Sales

With over a decade of experience in sales and account management, Ahmad Qutaishat brings a wealth of expertise to his new role as Vice President of Sales at Equiti Group. He began his journey with the company in October 2018 as a Client Support Officer and has since worked his way up the ranks.

Equiti Group Appoints Ahmad Qutaishat as Vice President of Sales
Equiti Group Appoints Ahmad Qutaishat as Vice President of Sales

Equiti Group, a leading provider of online trading technology and financial products, has announced the appointment of Ahmad Qutaishat as its new Vice President of Sales. Qutaishat, who previously served as a Senior Manager at the brokerage firm, brings a wealth of experience to his new role, having spent more than a decade in sales and account management.

  • Joining Equiti Group as a Client Support Officer in Jordan back in 2018, Ahmad Qutaishat rapidly ascended the ranks to become a Senior Account Manager by 2020. In 2022, he joined the Equiti Group team in Dubai, where he worked as a Senior Account Manager for seven months before being promoted to Vice President of Sales.
  • Prior to his tenure at Equiti Group, Qutaishat also worked in non-financial industries, including as a Marketing Director and Corporate Account Manager. He started his career as a Sales Representative at C-Products, a wellness brand, in 2014.

Equiti Group has been making a series of strategic hires in recent months. In September 2022, the company announced the appointment of Christoffer Nielsen as its new Chief Technology Officer. Nielsen, who previously served as Chief Information Officer at Euronext Securities, is tasked with leading the company’s global technology strategy and fostering a strong engineering culture across the organization.

Equiti Group has been expanding its operations and services over the past few years, with a focus on providing cutting-edge technology solutions to traders and investors around the world. With the appointment of Qutaishat as its new Vice President of Sales, the company is well-positioned to continue its growth trajectory and deliver innovative solutions to its clients.