The cryptocurrency landscape is a difficult space to navigate, with thousands of new coin projects being launched on a daily basis. It is humanly impossible to research and follow each of these new projects and shortlist a few promising ones, let alone find THE one to invest in.The best time to invest in a promising new digital currency startup is at the presale stage, when the prices are low and there is growing investor interest in the setup. Once the coin is listed on crypto exchanges, it can peak in value and risk falling into obscurity. However, succeeding on this front requires strategic planning and proper investigation from the investor’s end, often having to rely on expert advice along the way. This approach is the one to have as it combines the advantages of personal attention and expert endorsement. Accessing a New Crypto PresaleWhile there are many flashy options to invest in, the reality is that a crypto presale has a high chance of success if it aims to solve a real-world use case. One can push forward technology as much as they want, but if it is not solving a problem or improving the current situation, chances are it won’t give immediate returns. Market demand and competition are important indicators when it comes to the success of a crypto project. Technological DevelopmentCrypto, Web3, IoT, etc, are all leading technologies that are directly dependent on each other for future progress. If a crypto presale claims to have groundbreaking technology in any of the new cutting-edge areas and is able to prove it, it will have a much higher probability of succeeding. The best crypto presale of 2025 will surely be the one that combines useful applications and innovative technologies with partnerships with top industry players. Community is ImportantSuccessful crypto projects are driven by thriving communities; that is a fact. This is especially true for coin projects looking to lure sports fans with digital memorabilia and exclusive access. Community members also help in organic social media outreach and are able to push narratives. Maradona Legends - A Unique Crypto Project For Football FansMaradona Legends emerges as the sole legitimate representation of the Maradona brand, marking a watershed moment in both the sports and cryptocurrency industries. Maradona Legends is the official representative of the Maradona brand, with the rights to its use fully acquired. The platform’s presale stands out for its holistic approach to brand utilization, backed by the project's exclusive authorization to create and distribute official Maradona-themed contend, assets, and events.Maradona Legends has built a strong infrastructure through partnerships with industry leaders such as Sequence for blockchain gaming and WoV Labs for digital memorabilia verification. The DM10 token presale, which launched on February 20, 2025, provided the first opportunity for individuals to gain official access to the Maradona legacy, including governance rights and exclusive ecosystem benefits.The presale's unique value proposition originates from the official responsibility to protect and expand the Maradona heritage, which is supported by actual market estimates. With the sports memorabilia market projected to exceed $100 billion by 2032 and digital collectibles reaching $230 billion by 2030, Maradona Legends is uniquely positioned to capitalize on these expanding sectors.Maradona holds the record for the most valuable sports memorabilia item—his iconic 'Hand of God' jersey from the 1986 World Cup—further highlighting the project's potential to bridge football history, real memorabilia, and RWA with digital ownership. Maradona Legends creates a sustainable ecosystem by leveraging its exclusive licensing and the DM10 token, which serves as the core utility and governance asset for a global fanbase of over 3 billion football enthusiasts.Aim for Long-Term SuccessThe 2025 bull market is just starting to get warmed up at the moment. Despite several hiccups in traditional markets around the world, the crypto economy has continued to remain steadfast and has been able to retain its value. However, for newbies trying to make sense of the volatile crypto economy, the best advice is to practice patience and familiarize yourself with presales before making any significant investments. It is also advisable to follow independent analysts and engage with the online community significantly. This article was written by James Clifford at www.financemagnates.com.

In an exciting new development, global trading broker Hantec Markets has become the official trading partner of Fortaleza EC, one of Brazil’s most beloved football clubs. This new partnership marks a major milestone in Hantec Markets’ commitment to align with premier sports organisations that share the company’s values of ambition, determination, and excellence.Fortaleza, known for its passionate fanbase and prominent position in Brazilian football, represents a club with a deep connection to its community and an unwavering pursuit of success. Through this sponsorship, the Hantec Markets brand aims to connect with millions of fans throughout Brazil and beyond. The partnership will introduce a range of exciting fan engagement activities, such as exclusive behind-the-scenes experiences, special promotions, giveaways, and events, bringing the excitement of football and trading together.“We are thrilled to become a part of Fortaleza’s journey, a club that embodies the same principles of resilience, teamwork, and relentless pursuit of excellence that guide Hantec Markets,” said Norayr Djerrahian, Chief Strategy Officer of Hantec Markets. “This sponsorship is a significant step in strengthening our global presence, especially in Brazil, and reinforces our dedication to supporting organisations that inspire their communities to reach new heights,” said Raj Naik, Chief Marketing Officer at Hantec Markets.“We are adding a major international brand to Fortaleza for the next two seasons, which is recognised for its passionate fan base and presence in the stands and on social media. We have a deep connection with our community, which has already surpassed the barrier of a rising club and is already used to competing in national and South American championships, which is why we were chosen by the brand to be its gateway to Brazil,” said Marcelo Paz, CEO of Fortaleza EC SAF. “We are celebrating this international partnership with Hantec Markets, a global trading broker company that already sponsors Atlético de Madrid and has had success in sports by partnering with the Haas Formula 1 team. This shows how important Fortaleza is in Brazil and South America. Every time we step onto the field, we show our willingness to seek success in all competitions,” said Victor Simpson, commercial manager at Fortaleza EC SAF.The announcement follows Hantec Markets’ recently announced multi-year sponsorship of Spanish football club Atlético de Madrid.Hantec Markets is excited to join Fortaleza EC in this new chapter of growth, and looks forward to building lasting connections with football fans and traders alike. Stay tuned for exciting announcements and exclusive experiences throughout the season.About Hantec MarketsHantec Markets is a global multi-regulated trading broker, providing traders with access to forex, commodities, indices, and more. Backed by the award-winning Hantec Group, the broker focuses on building transparent and easy-to-access trading experiences for traders across the world.About FortalezaFortaleza is one of Brazil’s most successful and historic football clubs. Known for its passionate fanbase, the club has built a reputation for overcoming challenges and achieving great success in Brazilian football, with a number of state and national titles to its name. This article was written by FM Contributors at www.financemagnates.com.

Online trading broker Hantec Markets has entered into a partnership with Fortaleza Esporte Clube for the 2025 and 2026 football seasons. As the official trading partner, Hantec Markets’ brand will be featured on Fortaleza EC’s team kit.This follows Hantec Markets' recent deal with Spanish football club Atlético de Madrid, making it the Club’s official online trading partner in LatAm.Hantec Markets and Fortaleza EC PartnershipThe new partnership aims to merge online trading and football, highlighting shared values of precision, strategy, and dedication. “At Hantec Markets, we believe that success is built on more than just skill—it’s about passion, resilience, and the relentless pursuit of excellence. These values define us as a global leader in online trading, and they are the same principles that drive Fortaleza EC, one of Brazil’s most dynamic football teams,” the firm stated on its website.Vamos, Leão do Pici! ? Hantec Markets is proud to be the new official trading partner of @FortalezaEC??❤️ Our brand will be featured on their kit for the 2025 and 2026 seasons, marking the beginning of an exciting journey together. As a global leader in online trading, we… pic.twitter.com/F5evpwdj6Y— Hantec Markets Global (@Hantec_Markets) March 13, 2025The partnership centers around the idea that success in both trading and football requires preparation and performance.Hantec Markets also plans to engage both football fans and traders through giveaways, matchday activations, and VIP experiences, creating unique opportunities for both communities.As part of its LATAM expansion, Hantec Markets recently appointed Raphael Marsura Abel Ferraz as Regional Manager for Brazil and LATAM. With his extensive industry experience, Hantec Markets aims to leverage Ferraz’s expertise to strengthen client relationships and enhance its market presence in the region.Hantec Markets Introduces Client Funds InsuranceMeanwhile, Hantec Markets has introduced a new client funds insurance policy, offering protection up to $500K per claimant. Underwritten by Lloyd's of London, this policy covers all Hantec Markets clients and aims to enhance security amidst market volatility and cybersecurity concerns, as reported by Finance Magnates. The insurance adds an extra layer of protection beyond regulatory safeguards, such as the £85K protection in the UK. The policy applies to Hantec's trading products, including currencies, metals, equities, and commodities. Similar moves have been made by other UK brokers like ICM.com and ActivTrades. This article was written by Tareq Sikder at www.financemagnates.com.

Benjamin Bilski, the former CEO and founder of NAGA, is preparing to launch a new cryptocurrency trading platform. Following his departure from NAGA after its acquisition by CAPEX.com, Bilski is now eying the opportunities in the crypto landscape. Now, he believes he has identified a major inefficiency in the industry—one he claims could “change everything.” His LinkedIn post suggested that the new platform would address structural issues in market-making and liquidity provision.A Vision for Crypto Trading“After years in crypto (since 2014), scaling companies from scratch to IPO, and executing large-scale projects, I took a step back to assess the imbalances and opportunities in the space. And I found something truly exciting, a loophole that changes everything,” he wrote.Crypto traders have long expressed frustration with the dominance of centralized order book systems, which allow market makers to exert significant influence over prices.This issue was thrust into the spotlight recently when Binance took action against a market maker accused of price manipulation. Bilski’s project appears to be designed as an alternative to these traditional systems.Although details remain scarce, Bilski outlined several core features of his new venture. He emphasized democratized liquidity pools, an independent blockchain optimized for scale, social investing elements, and an AI-driven ecosystem tailored for traders. What the Project EntailsAdditionally, he assured followers that this wasn’t just another collection of “buzzwords” but rather a genuinely innovative approach to crypto trading.“In the past 18 months, I had the privilege of witnessing token launches with valuations reaching hundreds of millions, and even a billion dollars, traded by hundreds of thousands of people,” he said. “The scale, speed, and impact were nothing short of epic.”His post also served as an open call for investors, blockchain developers, and decentralized finance (DeFi) experts to join the initiative. While funding and an official launch timeline are yet to be confirmed, the project’s ambition has already caught the attention of the crypto community.Bilski’s planned trading platform could introduce a fundamental shift by moving away from traditional centralized market-making models; it may offer traders a more transparent and efficient experience. This article was written by Jared Kirui at www.financemagnates.com.

Pepperstone appointed Kim Reilly as its new Head of Client Experience. Reilly, a seasoned executive in the FX and CFD trading industry, joins from FP Markets, where she played key roles in client relations and partnerships. Industry Expertise Brought to PepperstoneAccording to Reilly’s LinkedIn profile, her career in financial services spans major brokerage firms, including FP Markets, IC Markets, and FxPro. At FP Markets, she held several leadership roles in both Cyprus and London, overseeing partnerships, customer journeys, and quality assurance.She joined FP Markets as Head of Partnerships, served as the Head of Customer Journeys and Quality Assurance, and later as Learning and Development Manager. Reilly also worked for IC Markets as the Head of Partnerships and Client Relations. Previously, she held multiple roles at FxPro, including Client Relationship Manager, Client Relationship Supervisor, and Customer Support officer. Pepperstone’s decision to bring in Reilly reflects its commitment to improving client experience amid growing competition in the FX and CFD brokerage industry. Based in London, Reilly will focus on refining the company’s client service strategies and optimizing customer interactions. Her background in learning and development at FP Markets also suggests a strong emphasis on training and quality assurance within her new role.Pepperstone Expansion in Sport SponsorshipsMeanwhile, Pepperstone is boosting its presence in the sports sponsorship space. Early this year, the Melbourne-headquartered forex and CFDs broker announced the latest sponsorship deal with the Aston Martin Aramco Formula One Team, Finance Magnates reported."We are thrilled to work together and build a winning partnership that drives success both on and off the track," said Tamas Szabo, Group CEO at Pepperstone, adding, "We can't wait to celebrate this at the Australian Grand Prix in Melbourne, the first of the season and our home race."Pepperstone also announced a collaboration with the Ultimate Fighting Championship (UFC) in Asia last year, allowing the broker to become the UFC's Official Partner in Asia. This article was written by Jared Kirui at www.financemagnates.com.

Binance, the world’s largest cryptocurrency exchange, reportedly engaged in discussions with the Trump family about a potential investment in its U.S. arm, according to the Wall Street Journal. But the exchange was quick to deny the allegations. The talks, as reported by the WSJ, highlighted Binance’s strategic efforts to re-enter the American market as President Donald Trump continues to strengthen his ties to the crypto industry.Engaging Trump’s Inner Circle?According to the report, Binance executives reached out to Trump’s allies last year, offering a business deal that could have included an investment stake for the former president’s family. The discussions were reportedly part of Binance's broader effort to re-establish its presence in the United States after regulatory setbacks forced it to distance itself from the country.A potential stake could have been acquired through World Liberty Financial, a crypto venture linked to the Trump family. The report said that real estate developer and Trump associate Steve Witkoff were allegedly involved in the negotiations. The report boosted the price of Binance native cryptocurrency BNB, which was up 3% on CoinMarketCap's daily chart, trading at $579 at the time of this publication. However, it remains unclear whether the deal was contingent on a presidential pardon for Binance founder Changpeng “CZ” Zhao, who stepped down as CEO in November 2023 after pleading guilty to violating U.S. anti-money laundering laws.4. Sorry to disappoint. The WSJ article got the facts wrong.More than 20 people have told me they were asked by the WSJ (and another media), "Can you confirm that CZ made some deal for a pardon?"They probably asked hundreds of people to have 20 people reach out to me. In… https://t.co/ELyDPmKD3G— CZ ? BNB (@cz_binance) March 13, 2025In addition to the alleged Binance talks, Trump’s family has launched cryptocurrency-related ventures, including meme coins, and holds a stake in World Liberty Financial.Zhao took to X (formerly Twitter) to dismiss the claims, stating, “I have had no discussions of a Binance US deal with … well, anyone.” The WSJ did not suggest that Zhao was personally involved in the negotiations, only that Binance executives pursued the talks.Binance Pushes Back on WSJ ReportWhile the truth of the matter is yet to be determined, the WSJ report sheds light on potential Binance’s engagement with Trump’s circle. Critical questions remain. Was the Trump family seriously considering a stake in Binance.US, or was the outreach merely exploratory? Regarding claims that he sought a pardon from Trump, Zhao responded ambiguously, neither confirming nor denying the request outright. He wrote, “No felon would mind a pardon, especially being the only one in U.S. history who was ever sentenced to prison for a single [Bank Secrecy Act] charge.” He also implied that the WSJ article was politically motivated, criticizing lingering regulatory hostility toward crypto. Despite its challenges, Binance continues to attract major institutional investors. This week, Abu Dhabi-based investment firm MGX announced a $2 billion investment in the exchange, signaling confidence in Binance’s long-term viability. This article was written by Jared Kirui at www.financemagnates.com.

The Financial Commission has officially approved OneRoyal as its newest member. The company's status as an Approved Broker Member took effect on March 12, 2025, following the acceptance of its membership application.Financial Commission Mediates Client DisputesAs a member, OneRoyal gains access to various services, including protection for clients' complaints of up to €20,000, backed by the Financial Commission’s Compensation Fund. The Financial Commission serves as an independent mediator for resolving disputes between brokers and their clients. It offers a more efficient alternative to traditional arbitration or court processes in the CFDs, forex, and cryptocurrency markets."The Financial Commission initially set out to provide a new approach for traders and brokers alike to resolve any issues that arise in the course of trading electronic markets such as Foreign Exchange, and then expanded into CFDs and related derivatives, in addition to certifying technology platforms used for trading," the Commission stated. OneRoyal Leverages Xcore Technology for TradingEstablished in 2006, OneRoyal offers trading services with advanced technology and competitive conditions. Its data centers in London and New York are powered by Xcore technology, enabling fast execution, low commissions, and spreads starting from 0 pips.OneRoyal's membership places it alongside other brokers and independent service providers using the Financial Commission’s dispute resolution services. Financial Commission Warns of Impersonation ScamEarlier, the Financial Commission updated its investigation into a scam involving individuals impersonating its representatives to deceive traders. These scammers target traders affected by fraudulent brokers, offering recovery services for a fee and using fake companies to issue guarantee letters, according to Finance Magnates.The Financial Commission has stated that it does not offer recovery services, initiate contact via cold emails, or issue letters of guarantee. Traders are advised to verify communication by checking the list of member brokers and using the official Dispute Resolution Form. Any unsolicited claims should be confirmed directly with The Financial Commission before disclosing personal information. This article was written by Tareq Sikder at www.financemagnates.com.

Trustpilot abruptly wiped out over 1,300 reviews from the profile of prop firm Hola Prime, leaving just 49 behind, Finance Magnates reported exclusively last week. The reason? The firm had allegedly flooded the platform with fake reviews to boost its rating. While Hola Prime is just the latest to be exposed, the case highlights a much bigger issue: the booming black market for fake reviews in the trading industry. Read the exclusive story on Trustpilot’s action against Hola Prime: "Prop Firm Hola Prime Had 1,300+ Trustpilot Reviews Yesterday, but Only 49 Today. What Happened?"The Rush to "Excellence"One key reason for Trustpilot's trustworthiness in the trading industry - where trust is everything - is the ability of dissatisfied traders to leave feedback. If a broker delays withdrawals or a prop trading firm halts operations, the trader can leave negative feedback about them.Based on all positive and negative reviews, Trustpilot calculates the TrustScore. A five-star rating indicates the highest satisfaction level whereas a one-star rating shows the lowest level of dissatisfaction.Trustpilot emphasises that it is very strict about the genuineness of submitted reviews. According to the platform, every single review first goes through "specialist detection technology," which uses a combination of machine learning, AI, and data analysis to examine patterns associated with how it ends up on the platform and its relationship with other reviews and reviewers. It uses "hundreds of data points" for this analysis, which include IP addresses, user identifiers, device characteristics, location data, and timestamps.Trustpilot is very popular among traders, especially in the retail financial services industry, as they can share and see the real experiences of users on those platforms about trading conditions and withdrawals. This popularity has opened up massive opportunities for fake reviews. Brokerage giant eToro and prop trading firm The5ers, are just two popular brands that showcase their Trustpilot scores on the most prestigious location - their homepage - to assert trust among traders.The Opportunity with Fake ReviewsFake reviewers are swarming social media platforms, offering Trustpilot reviews and verified profiles. One such platform is Eazyviral.com. “We use a pool of 20,000 Trustpilot profiles, each created from unique devices and IP addresses of real users worldwide. This makes the reviews look organic,” an Eazyviral chatbot noted when replying to Finance Magnates’ queries.The fake review platform even offers strategically planned review posts upon request and can “spread out the reviews over time (e.g., 1-5 daily). This gradual approach mimics natural user behaviour.” The platform offers a single Trustpilot review for $10, but if bought in bulk, companies can receive up to a 46 per cent discount: the cost of 1,000 “five-star rating positive reviews” is $3,997, while 2,000 “five-star rating positive reviews” cost $7,500.Eazyviral is just one of many fake review providers available on the internet. Finance Magnates detected over a dozen platforms offering fake Trustpilot reviews, with names like Fuzz Business Reviews, Boosbe, Procraigslist, and Buy GMB Reviews.Many freelancers also advertise fake reviews on popular platforms like Fiverr and Upwork. Social media giants, including Facebook, Instagram, X and Telegram, have become hotspots for advertising fake reviewing services4️⃣ Can Review Platforms Be Trusted?Platforms like Trustpilot work to detect fake reviews, but the challenge is massive.Some firms may even pay for “reputation management” services that filter out negative feedback while pushing positive ones to the top.— Prop Firm Journal (@PropFirmJournal) March 11, 2025Cease and Desist Letters, Take Down NoticesTrustpilot claims that it has “zero tolerance toward fake reviews.” The open review platform allows both companies and users to flag potentially fake reviews.“Where we detect fake reviews, we’ll remove them and take action,” Trustpilot noted on its legal page. “If a business has a paid subscription with Trustpilot and continues to breach our guidelines after we’ve sent them a formal notice, we’ll terminate their subscription.”Trustpilot took action against Binance for fake reviews and temporarily disabled the crypto exchange's TrustScore, although its profile has now been restored. In another incident, the review platform suspended the prop firm Funding Pips’ profile, citing "an increase in reviews related to recent media attention," which allegedly resulted in an influx of biased reviews against the firm.Furthermore, Trustpilot has put up a "warning" label on the profile page of prop firm Blue Guardian and suspended the company's ratings. The actions against Blue Guardian are similar to those against Hola Prime.Trustpilot's actions are not limited to fake reviews but also extend to providers of fake reviews. According to numbers the company shared with Finance Magnates, it has identified and requested shutdowns for almost 5,000 (!) review seller sites or social profiles since July 2024. Out of those, over 250 were subsequently taken down."We condemn the trade in selling fake reviews, and when we’re made aware of review sellers, we investigate the site in question and decide what action to take," Trustpilot told us."That could involve sending them legal ‘cease and desist’ letters, court action, and issuing ‘take down’ notices to hosting providers to get these sites taken down."Eazyviral also considers the limitations of its services and adds: “While no service can provide a 100% guarantee against detection, our methods are designed to minimise risks and maintain the integrity of your page.”According to Trustpilot, it has a team of over 88 agents and legal experts to enforce its guidelines and has removed more than 3.3 million fake reviews in 2023 and 2.6 million in 2022. However, it is questionable how effective Trustpilot’s actions against such fake reviews are.The5ers, one of the top and most established prop trading firms, told Finance Magnates that Trustpilot changed its review-sharing process about a year ago, scrapping the verification process for authenticating reviewers."Probably a year ago, Trustpilot changed its model", said The5ers CEO, Saul Lokier. "Before, it was easier for companies to get information from the reviewer to verify the genuineness of the comments and take action. If we had shortcomings in customer support, we would have fixed them," "But then Trustpilot changed its model, and not knowing who is behind the review is very frustrating."Trustpilot’s process of addressing reviews flagged by verified platforms is slow. One prop firm confirmed to Finance Magnates that Trustpilot often takes more than a week to address flagged fake reviews and lacks transparency. Also, during that investigation process, the flagged reviews stay online. It is unclear how the review platform determines which flagged reviews to take down and which to keep.Trustpilot said that it has "teams of content integrity and fraud investigation specialists who work in tandem with our automated systems to ensure that reviews are as accurate and valuable as possible on the platform." However, due to the fake review issue, many companies also question the trustworthiness of Trustpilot."Trustpilot is not so trustworthy because many people can come there and give either a good or a bad review, and it's not necessarily an objective review," Lokier added.Do NOT trust your business on @Trustpilot! Despite countless attempts through their flagging procedures about a extremely damaging, slanderous review of our business from someone who clearly has the wrong company (not even in this country), they will not remove. TP is a disgrace— Ryan Taylor (@RyanMarkTaylor) March 10, 2025Attack with Negative ReviewsFake reviews do not always benefit prop firms. There have been multiple instances where prop trading platforms became targets of individuals and coordinated groups that posted negative reviews against them, often attempting to blackmail them.For prop trading firm Alpha Capital Group, Finance Magnates noticed a single person writing multiple negative reviews on Trustpilot. "We monitor all Trustpilot reviews and always work within the Trustpilot platform's processes," said George Kohler, Managing Director at Alpha Capital Group, a UK-based prop firm. "A previous issue was detected involving fake reviews instigated by a disgruntled customer, which we worked with Trustpilot to resolve.""We have faced these kinds of situations," confirmed Lokier, addressing the problem of targeted negative campaigns. "Suddenly, many comments come from one country or region at once. It is very frustrating that the Trustpilot algorithm allows such reviews in the first place."Pip Firm’s CEO, James Glyde, recently raised his voice on social media against a strategy used by some coordinated groups to exploit different prop platforms. The groups often blackmail prop firms if their payouts are rejected, threatening to post a barrage of negative reviews on Trustpilot and other social media platforms.Additionally, scammers have taken hold of Trustpilot and often target distressed reviewers. Last year, CySEC (the financial services regulator in Cyprus) issued a warning against fraudsters impersonating regulatory representatives on Trustpilot. These scammers fabricated posts by posing as users who purportedly reported incidents of financial distress, following which they claim that CySEC officers or representatives contacted them, demanding fees in exchange for facilitating the recovery of investment losses in companies regulated by CySEC."Industry-Wide Challenge"The problem of coordinated fake reviews is not limited to prop platforms; retail brokers also face it.EBC Financial Group’s Global Public Relations Lead, Douglas Chew, described it as an "industry-wide challenge" and said: "Negative campaigns can be coordinated efforts—it’s something brokers across the board have had to contend with."Jean Philippe, Board Advisor for Corporate Governance and Sustainability at Ultima Markets, also confirmed the issue of fake negative reviews: "Like many brokers, we’ve encountered situations where reviews don’t always reflect genuine trader experiences. While most feedback is honest, there have been cases where we’ve noticed patterns of misleading or coordinated reviews. When that happens, we follow Trustpilot’s guidelines to report anything that appears inaccurate."While EBC and Ultima Markets are relatively new brands in the CFDs trading industry, established broker TMGM has also witnessed Trustpilot review manipulation. TMGM’s Head of Partners, Daniel Kruger, said: "While we acknowledge some potential for review manipulation in our industry, we combat this through transparent communication and a genuine commitment to customer service."In the next article, we will discuss the great lengths to which brokers and prop firms go to maintain their Trustpilot ratings. This article was written by Arnab Shome at www.financemagnates.com.

ForexEKO, brings a structured, data-driven approach to candlestick trading, refining gold market strategies with precise pattern recognition and strategic execution. Candlestick patterns have long been a cornerstone of technical analysis, offering traders insights into market sentiment and potential price movements. However, manually identifying these formations can be time-consuming and prone to misinterpretation. ForexEKO bridges that gap, automating the detection of key formations while integrating a structured, rule-based approach to trade execution.Gold trading presents unique challenges, often reacting to macroeconomic forces, central bank policies, and market sentiment shifts. While traders have relied on candlestick structures like doji, hammers, and engulfing patterns for decades, interpreting them accurately in a fast-moving market requires precision. ForexEKO streamlines this process, recognizing valid trading signals and filtering out false patterns to help traders make more reliable, informed decisions.Merging Classic Techniques with Modern EfficiencyThe integration of price action analysis, momentum tracking, and risk management allows ForexEKO to read market conditions in real-time, identifying setups where candlestick formations align with strong trade confirmations. Most systems treat candlestick signals in isolation, overlooking key market contexts. ForexEKO factors in trends, momentum shifts, and historical data to ensure each trade setup aligns with real-time conditions.Traders often struggle with the subjectivity of manual pattern recognition, leading to inconsistent decision-making. ForexEKO solves this by ensuring every trade setup is backed by structured logic, applying stop-loss and take-profit parameters to enhance risk management. The system’s calculated approach provides traders with a methodical way to capitalize on gold price movements without the uncertainty of subjective analysis.ForexEKO reimagines traditional candlestick analysis by integrating automation, bringing a modern touch to a classic trading strategy. Traders no longer have to second-guess formations or spend hours manually analyzing charts. This solution refines decision-making and ensures that proven techniques are applied with precision.A Step Forward in Gold Trading AutomationAutomation alone doesn’t define the future of trading, precision does. ForexEKO transforms classic candlestick analysis into a structured, data-driven system that sharpens market interpretation and trade execution. As structured execution becomes essential, it refines gold trading by merging technical precision with proven candlestick strategies, giving traders at all levels a reliable edge.About ForexEKOForexEKO (https://forexeko.com/) is an Expert Advisor for MetaTrader 4, optimizing XAU/USD trading with advanced analysis and risk management. Designed for precision and consistency, it balances profitability with low drawdowns. This article was written by FM Contributors at www.financemagnates.com.

Avenix Fzco has launched Avexbot, an AI-enhanced trading system that introduces a precision-focused approach to GBP/USD trading by combining institutional-grade analytics with real-time market adaptability. Designed for traders who demand both speed and accuracy, Avexbot processes high-quality tick data, analyzes daily candlestick trends, and adjusts its execution strategy in real time, bridging the gap between algorithmic efficiency and strategic insight.Successful forex trading isn’t just about spotting price moves; it’s about understanding the patterns behind them. Avexbot’s AI-driven analysis dissects market behavior across multiple timeframes, filtering market noise and false signals to provide traders with structured, data-backed decisions. The system continuously refines entry and exit points based on evolving market trends.​AI-Driven Precision for GBP/USD TradersTrading GBP/USD means navigating frequent price swings, central bank influences, and institutional order flows. Most automated systems get caught in short-term fluctuations, often executing trades without accounting for the broader market picture. Avexbot’s intelligent AI framework goes deeper, processing vast amounts of tick data to detect market shifts before they fully form.This AI-driven approach doesn’t just follow price action, it evaluates liquidity zones, momentum changes, and volatility patterns, ensuring that each trade aligns with real-time market conditions rather than outdated signals.Avexbot delivers institutional-grade AI analytics to GBP/USD trading, processing high-quality tick data to provide daily candlestick insights. The goal is to bring the same level of precision used by institutions to everyday traders, allowing them to trade with confidence and clarity.Smart Automation Meets Strategic ControlAI is redefining financial markets, pushing traders beyond basic automation. As demand grows for intelligent tools that refine trading strategies while maintaining user control, Avexbot delivers on this demand, balancing automation with trader oversight through customizable risk management settings, dynamic stop-loss adjustments, and strategy fine-tuning.This system isn’t about chasing every price move, it’s about strategic positioning. By incorporating AI-backed decision-making into a rule-based execution model, Avexbot helps traders navigate GBP/USD’s volatility with greater discipline and precision.Markets move fast, and traders need more than just automation. They need a system that thinks ahead. Avexbot cuts through the noise, analyzing GBP/USD with the same depth and precision as institutional traders, turning complexity into opportunity.About AvexbotAvexbot (https://avexbot.com/) is dedicated to providing innovative trading solutions, combining advanced algorithms with expert market insights to enhance forex trading efficiency. Designed for both novice and experienced traders, its expert advisors (EAs) streamline decision-making and maximize profitability. This article was written by FM Contributors at www.financemagnates.com.

iSAM Securities (UK) Limited reported a total turnover of £27.04 million for the financial year ending 30 June 2024, reflecting a decline from £31.62 million in the previous year. Despite lower revenue, administrative expenses saw a slight reduction, standing at £28.31 million compared to £31.44 million in 2023.Operating Loss Offset by Increased Income"The Board of Directors has conducted a comprehensive review of the company's financial position, performance, prospects and current geopolitical conflicts as part of its assessment of the going concern assumption for the preparation of the financial statements," the firm stated in company filing. The company reported an operating loss of £1.27 million, a significant decline from the £176,144 profit in the previous year. However, the firm benefited from a substantial increase in other income, which rose to £6.39 million from £3.88 million, alongside interest income nearly doubling to £7.69 million from £3.60 million.Board Confirms Adequate Resources for OperationsThese additional income streams led to a pre-tax profit of £12.81 million, improving from £7.65 million in 2023. However, taxation expenses nearly doubled to £3.18 million from £1.44 million, resulting in a post-tax profit of £9.63 million, up from £6.21 million in the prior year.No other comprehensive income was reported, making the total comprehensive income for the year £9.63 million, marking a 55% increase from the previous year."Based on the current economic environment, market conditions and liquidity forecasts, the Board has concluded that the company has adequate resources to continue its operations for the foreseeable future, defined as at least 12 months from the date of approval of the financial statements," the firm added. iSAM Securities Promotes New Leaders to Key RolesMeanwhile, iSAM Securities has promoted Barry Flanigan to Head of Asia Pacific. He will manage operations in the region, focusing on growth, client engagement, and expanding services. Flanigan has been with iSAM for over nine years, most recently as Head of Electronic Trading, and has held various other positions since joining in 2009.iSAM has also promoted James Wale to Head of Leveraged Sales EMEA. With 15+ years in institutional sales, Wale has spent over seven years at iSAM, demonstrating strong leadership. In his new role, he will lead the EMEA Sales team and manage the sales strategy. This article was written by Tareq Sikder at www.financemagnates.com.

Kama Capital has launched a new loyalty program aimed at providing traders with structured rewards designed to enhance their trading experience. The program offers a range of incentives based on trading activity, distinguishing itself from traditional brokerage models that primarily focus on fees and retention strategies.A New Approach to Trader RewardsUnlike conventional brokerage loyalty programs that often center on deposit-based incentives, Kama Capital’s program is structured to offer traders tangible benefits at various stages of their trading journey.“Our Loyalty Program is an extension of our mission—to provide traders with meaningful rewards that contribute to their long-term success,” said Razan Assaf, Deputy CEO of Kama Capital. “We have developed a model that prioritizes traders by offering real benefits rather than promotional incentives.”Program HighlightsThe Kama Capital Loyalty Program offers multiple incentives, including:· Welcome Bonus ($10): Traders who complete KYC verification receive a starting bonus to begin trading.· First Deposit Bonus (10% up to $100): New traders can receive additional capital when funding their accounts.· Volume-Based Rewards: Traders earn rewards based on their trading activity.· Monthly Challenges: Additional incentives are available for top-performing traders who achieve key milestones in profitability and engagement.Elena Kupriianova, Chief Marketing Officer at Kama Capital, emphasized the program’s focus on long-term trader engagement. “This initiative ensures that traders are recognized and rewarded for their continued activity in the market.”Supporting Trader GrowthKama Capital’s approach aims to provide traders with incentives that align with their trading objectives. “Loyalty programs should offer meaningful value rather than just encourage deposits,” said Basem Elhelaly, Customer Support Manager. “Our goal is to create an environment where traders feel supported and in control of their growth.”By integrating structured rewards with trading performance, Kama Capital seeks to offer a program that enhances trader engagement while maintaining transparency and value.About Kama CapitalKama Capital (https://kama-capital.com) is a financial services provider specializing in trading solutions that cater to a diverse range of market participants. The company focuses on offering a flexible and transparent trading environment, providing tools and resources designed to support traders in navigating global financial markets. With a commitment to innovation and trader empowerment, Kama Capital aims to enhance the trading experience through technology-driven solutions and customer-centric initiatives. This article was written by FM Contributors at www.financemagnates.com.

Tesla (NASDAQ: TSLA) stock climbed more than 7% on Wednesday, leading a rally in technology stocks after U.S. inflation data came in below expectations, soothing concerns over escalating tariffs and lifting broader market indices. The unexpectedly soft inflation figures—showing a 0.2% month-over-month increase in February against a forecasted 0.3%, with the annual rate easing to 2.8%—shifted market sentiment away from fears of aggressive Federal Reserve tightening. This development, coupled with reduced anxiety over proposed U.S. tariffs, fueled gains across the technology sector, with Tesla, Nvidia Corp., and Meta Platforms Inc. posting significant advances.CPI Data Signals Relief Amid Tariff UncertaintyThe Bureau of Labor Statistics’ (BLS) CPI report, a closely watched gauge of U.S. price pressures, underscored a cooling inflationary trend that caught markets off guard. Economists surveyed by Bloomberg had anticipated a 0.3% monthly rise, and the shortfall prompted a reassessment of monetary policy expectations. Annual core CPI, excluding volatile food and energy prices, held steady at 3.2%, further alleviating concerns that inflation could spiral higher amid ongoing tariff debates.The data arrived against a backdrop of heightened market focus on U.S. trade policy. President Donald Trump’s administration has floated tariffs of 25% on imports from Canada and Mexico and 10% on goods from China, measures Goldman Sachs analysts estimate could lift core U.S. prices by 0.7% if fully enacted.Tech Stocks Lead Broad Market GainsThe S&P 500 rose 0.5% to close at 5,980.12, while the Nasdaq Composite gained 1.2%, ending the session at 19,245.67, as investors pivoted toward growth-oriented sectors following the CPI report released on March 12.The S&P 500 and Nasdaq outperformed as investors rotated into technology stocks, a sector sensitive to interest rate expectations and macroeconomic shifts. Tesla’s 7.4% gain—closing at $248.09—outpaced the broader indices, while Nvidia rose 6.4% and Meta advanced 2.1%. The rally marked a reversal from earlier 2025 weakness, when tariff uncertainties and a 38% year-to-date drop had pressured Tesla’s valuation.Analysts attributed the tech sector’s strength to the CPI data’s implications for monetary policy. Lower inflation reduces the likelihood of sustained high interest rates, a scenario that enhances the present value of future cash flows for growth companies.According to Dr. Kirill Kretov, Trading Automation Expert at CoinPanel, a lower-than-expected inflation reading typically has a positive impact on riskier assets, including stocks and cryptocurrencies: "A shift toward easing could lower borrowing costs, increase liquidity, and boost investor risk appetite—potentially benefiting Bitcoin" and technology shares. "However, this bullish outlook comes with caveats: rate cuts depend on economic conditions, and weaker inflation driven by slowing demand may dampen risk-taking," warns Kretov.Why Is Tesla Stock Surging? A Mix of Macro and Micro DriversWhile the CPI data provided the macroeconomic spark, Tesla’s performance was bolstered by company-specific factors. Morgan Stanley raised its price target on the stock to $250 from $230, citing optimism around Tesla’s planned robotaxi unveiling in mid-2025 and its advancements in artificial intelligence.BREAKING:MORGAN STANLEY REITERATES $800 BULL CASE FOR $TSLA IN THE NEXT 12 MONTHSWe are going to Mars! ? pic.twitter.com/6fT4nljDaQ— Dalton Brewer (@daltybrewer) March 12, 2025The interplay between macro relief and micro catalysts amplified Tesla’s gains. The company’s global operations, which span manufacturing facilities in China and the U.S., had faced scrutiny over potential tariff-related cost increases. Wednesday’s CPI report suggested that such pressures might not materialize as acutely as feared, supporting Tesla’s cost structure and profitability outlook.Retail Investors Amplify Tesla MovesRetail investors, a significant force in Tesla’s shareholder base, contributed to the stock’s momentum. Data from JPMorgan Chase & Co. indicates that individual traders account for roughly 30% of Tesla’s float in 2025, a cohort known for rapid responses to market-moving news. The stock’s volatility has long attracted retail participation, with Tesla enduring a 38% decline earlier this year before rebounding sharply in recent sessions. Wednesday’s surge rewarded investors who had viewed the dip as a buying opportunity, aligning with a broader trend of retail interest in technology stocks during market upswings. This article was written by Damian Chmiel at www.financemagnates.com.

Devexperts has unveiled a new community feature for its AI trading assistant Devexa, enabling brokers to host secure social environments where traders can interact without leaving their trading platforms. The feature aims to keep traders engaged within brokers' ecosystems rather than migrating to external platforms like Discord or Telegram for market discussions.Forget Telegram and Discord – Trade and Chat in One PlaceThe new functionality allows traders to exchange investment ideas and discuss market movements in a controlled environment verified by their broker, addressing security concerns common on third-party communication platforms.This move is a clear attempt to keep traders directly on the platform and take a share of the massive market dominated by popular communication apps, which bring together hundreds of thousands, if not millions, of investment enthusiasts."Devexa's new community feature will enable brokers to provide traders with the opportunity for interaction and community-building they seek, with a number of key advantages," said Jon Light, Head of OTC Platform at Devexperts. "The safety of interactions is amplified for those using the Devexa community feature, compared to other popular communication platforms."According to Devexperts, Devexa's community feature creates a secure space exclusively for a broker's clients. Traders can share insights through multiple formats including voice messages, videos, PDFs, and text.Will Prop Firms Replace Discord with Devex?Devexperts claims prop firms can leverage the new tool for enhanced team collaboration with dedicated strategy rooms.The prop trading industry is dominated by Discord—every company in this sector has its own Discord channel, where it officially communicates with clients. Devexperts, whose DXtrade gained significant popularity in the prop industry last year, now aims to offer an alternative solution. The question remains, however, whether it can succeed in challenging the dominant player.Keep Your Traders EngagedMoreover, the company calls public forums dangerous, highlighting that they are full of "scammers, competitors, and unverified users" who can influence the quality and direction of trading discussions. Importantly, there is some truth to this. Telegram, along with WhatsApp, tops the list of apps where traders most frequently lose money due to scams. A joint survey by Finance Magnates and FXStreet a year ago revealed that this issue affects as many as 60% of traders using these platforms.For brokerages, the tool offers retention benefits by keeping users engaged within their platforms rather than losing their attention to external social sites. The feature also enables compliance monitoring of discussions, something brokers cannot achieve when clients use third-party platforms.Beyond basic communication capabilities, brokers can implement specialized engagement tools through Devexa including real-time event threads, collaborative analysis sessions, live Q&A breakouts, and community competitions. Devexperts, founded in 2002, develops software for financial markets with its flagship DXtrade platform serving various financial institutions. The company employs over 800 engineers across offices in the US, Europe, and Asia. This article was written by Damian Chmiel at www.financemagnates.com.

Futu Holdings Limited (Nasdaq: FUTU) saw its fourth-quarter net income more than double as trading volume surged to an all-time high amid increased investor activity in AI and cryptocurrency stocks, according to the company's latest earnings report released today (Thursday).Futu Reports Record Q4 Trading Volume, Profit Jumps 113% The tech-driven online brokerage reported net income of HK$1.87 billion (US$240.7 million) for the quarter ended December 31, 2024, representing a 113.3% increase from the same period a year earlier. Revenue jumped 86.8% to HK$4.43 billion (US$570.6 million), driven by strong growth across all business segments."In 2024, we added over 701 thousand paying clients, bringing the total number of paying clients to 2.4 million, a 41.0% year-over-year increase," said Leaf Hua Li, Futu's Chairman and Chief Executive Officer. The company now expects to add 800,000 net new paying clients in 2025, signaling confidence in continued expansion.Total trading volume reached HK$2.89 trillion in the fourth quarter, more than tripling from the previous year and increasing 51.5% from the third quarter. The surge was largely attributable to heightened trading activity in artificial intelligence and cryptocurrency-related stocks, which posted exceptional gains during the period.U.S. and Hong Kong Stocks"A couple of AI names that used to be unfamiliar to our clients consistently ranked among the most-traded U.S. stocks on our platform in 2024 thanks to their outsized outperformance and growing conviction among the public of AI's structural influence," Li noted.U.S. stock trading volume climbed 36.1% sequentially to HK$2.08 trillion, while Hong Kong stock trading volume more than doubled quarter-over-quarter to HK$754.5 billion, reflecting increased activity in technology names and leveraged ETFs.The company's growth was particularly strong in Hong Kong, which emerged as the top contributor of new paying clients. Singapore also showed robust client growth with improving client quality, while Malaysia continued to gain market share through localized product experiences and growing brand awareness.Expenses Also UpFutu's wealth management business saw total client assets increase by 92.6% year-over-year to HK$110.9 billion, now accounting for 15% of total client assets. Money market funds continued to attract substantial inflows despite lower yields, and the company expanded its structured product offerings in Hong Kong and Singapore to better serve high-net-worth clients.Operating expenses rose 57.1% to HK$1.44 billion (US$185.3 million), with selling and marketing expenses more than doubling as the company invested in client acquisition. Despite higher costs, the operating margin improved to 50.0% from 43.1% a year earlier, reflecting strong revenue growth and operational leverage.2024 Income Jumps 27%For the full year 2024, Futu reported a 27.0% increase in net income to HK$5.43 billion (US$699.4 million) on revenue of HK$13.59 billion (US$1.75 billion), up 35.8% from 2023.The company's margin financing and securities lending balance increased 53.7% year-over-year to HK$50.9 billion, reaching an all-time high amid what the company described as a "risk-on mood" among investors.In the IPO underwriting business, Futu maintained its market leadership position, underwriting 40 Hong Kong IPOs in 2024 and ranking first among all brokers for the third consecutive year, according to Wind data cited by the company.“We swiftly adjusted our IPO subscription process based on these changes and saw meaningful improvement in market share in terms of subscription amount in recent Hong Kong IPOs,” the CEO concluded. This article was written by Damian Chmiel at www.financemagnates.com.

Blockchain payments company Ripple has secured a regulatory license from the Dubai Financial Services Authority (DFSA), becoming the first digital assets-enabled payments provider authorized to operate in the Dubai International Finance Centre (DIFC), the company announced today (Thursday).Ripple Becomes First Blockchain Payments Provider Licensed by Dubai's Financial RegulatorThe approval represents Ripple's first license in the Middle East and allows the company to offer regulated crypto payment services to businesses throughout the UAE, strengthening its position in a region where it already maintains about 20% of its global customer base. This is a continuation of the regulatory moves initiated by the company in the Middle East late last year when, in October, it obtained an in-principle license to launch cross-border payment services.“We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption,” said Brad Garlinghouse, Ripple's Chief Executive Officer. “Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”Research suggests strong regional appetite for blockchain-based payment solutions. A 2024 Ripple survey found that 64% of Middle East and Africa finance leaders were prioritizing faster payments and settlement times as blockchain's primary value proposition.You may also like: Ripple News: SEC Delays Grayscale’s XRP ETF Decision as Franklin Templeton Joins the RaceUAE Wants to Become a Crypto HubThe license arrives as the UAE continues positioning itself as a global hub for crypto innovation. The country hosts a $400 billion-plus international trade market and has attracted growing interest from both traditional financial institutions and crypto-native businesses seeking alternatives to conventional cross-border payment systems.“This milestone not only highlights our commitment to fostering innovation, but also opens the door for Ripple to tap into new growth opportunities across the region and beyond,” said His Excellency Arif Amiri, DIFC Authority CEO.Ripple has secured regulatory approval from the Dubai Financial Services Authority (DFSA), making us the first blockchain payments provider licensed in the DIFC. https://t.co/6oHWtnjODrThis milestone unlocks fully regulated cross-border crypto payments in the UAE, bringing…— Ripple (@Ripple) March 13, 2025Since establishing its regional headquarters in DIFC in 2020, Ripple has steadily expanded its Middle East presence. The company notes that over 82% of finance leaders in the Middle East and Africa region report high confidence in integrating blockchain solutions into their operations.Growing Regulatory PortfolioReece Merrick, Ripple's Managing Director for Middle East and Africa, described the license as “a major milestone that will enable us to better serve the growing demand for faster, cheaper and more transparent cross-border transactions in one of the world's largest cross-border payments hubs.”The UAE license adds to Ripple's growing regulatory portfolio, which now includes over 60 approvals worldwide. The company has previously secured licenses from Singapore's Monetary Authority, New York's Department of Financial Services, Ireland's Central Bank, and numerous U.S. state money transmitter authorities.Ripple's RLUSD stablecoin, launched in late December on global exchanges, has already achieved a market capitalization exceeding $130 million. The company expects stablecoin adoption to accelerate in the UAE as businesses seek real-time settlement alternatives to traditional banking systems. This article was written by Damian Chmiel at www.financemagnates.com.

IG Group (LSE: IGG) reported a 12% increase in total revenue for the third quarter of fiscal year 2025 (Q3 FY25), reaching £268.0 million as stronger market conditions and an uptick in active clients drove performance.IG Group Reports 12% Revenue Growth in Q3 FY25 Trading revenue rose 15% compared to the same period last year, totaling £235.3 million for the quarter ended February 28, 2025. The growth was primarily attributed to higher revenue per client resulting from improved market conditions across the company's product offerings.“Q3 revenue growth reflected stronger market conditions and an increase in active clients. New customer acquisition has improved and there is more to do to ensure stronger, sustained growth,” the company stated in its quarterly update.273K of Active ClientsActive clients across the Group increased 2% year-over-year and 5% quarter-over-quarter to 272,700, reflecting improved customer acquisition efforts. First trades increased across all product categories compared to both prior periods, with the company citing stronger market conditions, improved product offerings, effective promotions, and increased marketing investment as key drivers.OTC derivatives, IG's largest revenue segment, generated £185.9 million in revenue, up 14% from the previous year and 12% from the prior quarter. Exchange traded derivatives saw an 18% year-over-year (YoY) increase to £41.7 million, while stock trading and investments revenue jumped 32% to £7.7 million.Record Revenue for tastytradeThe company's U.S.-based tastytrade business performed particularly well, with trading revenue reaching a record $50.9 million, representing a 30% increase from the previous year. “On a reported GBP basis, trading revenue increased 32% on the prior year and 22% on the prior quarter to £40.8 million (Q3 FY24: £30.9 million; Q2 FY25: £33.4 million),” the company commented.Net interest income was the only segment to decline, falling 7% year-over-year to £32.7 million, which the company attributed to lower interest rates while client money balances remained stable at £3.8 billion.Year-to-Date Performance and OutlookFor the first nine months of fiscal 2025, IG Group reported total revenue of £790.5 million, an 11% increase from the same period in the previous year. Active clients for this period rose 2% to 328,000.The company expressed confidence in meeting consensus expectations for total revenue and adjusted profit before tax for the full fiscal year, citing Q3 results and continuing stronger market conditions in Q4.“The Group remains confident of meeting FY25 consensus total revenue and adjusted profit before tax expectations,” IG concluded.Freetrade, Share Buyback and MoreIG Group announced that it has received key antitrust and change in control approvals for its acquisition of Freetrade, which is now expected to close in April 2025, earlier than initially anticipated. The company noted that Freetrade has continued to perform in line with expectations.The Group also extended its current share buyback program by £50 million to £200 million, to be completed in fiscal year 2025. As of March 11, 2.3 million shares had been repurchased at a cost of £21.7 million.Additionally, IG Group plans to seek shareholder and regulatory approval to reduce its share premium account and merger reserve, which would increase distributable reserves and enhance flexibility for growth investments and capital returns to shareholders. This article was written by Damian Chmiel at www.financemagnates.com.

Australia's corporate watchdog has launched federal court proceedings against fixed income specialist FIIG Securities Limited for allegedly maintaining inadequate cybersecurity systems over a four-year period, resulting in a massive data breach that compromised sensitive information of approximately 18,000 clients.FIIG Securities Faces Federal Court Action After 385 GB Data BreachThe Australian Securities and Investments Commission (ASIC) alleges that FIIG's cybersecurity failures, which persisted from March 2019 to June 2023, enabled hackers to infiltrate the firm's IT network and operate undetected for nearly three weeks before the breach was discovered.According to court documents, the breach resulted in the theft of approximately 385 GB of confidential data, including highly sensitive client information such as names, addresses, birth dates, driver's licenses, passports, bank account details, and tax file numbers. Some of this information was subsequently released on the dark web.“This matter should serve as a wake-up call to all companies on the dangers of neglecting your cybersecurity systems,” said ASIC Chair Joe Longo. “Cybersecurity isn't a set and forget matter. All companies need to proactively and regularly check the adequacy of their cybersecurity measures.”Delayed Breach Response Under ScrutinyThe regulator claims FIIG failed to respond promptly when initially notified of potential malicious activity. The company was reportedly contacted by the Australian Signals Directorate's Australian Cyber Security Centre on June 2, 2023, but did not investigate and respond to the incident until June 8, almost a week later.ASIC's allegations detail multiple cybersecurity failures by FIIG, including improperly configured firewalls, failure to update and patch software for security vulnerabilities, lack of mandatory cybersecurity awareness training for staff, and inadequate resources devoted to cybersecurity management.“Australian financial services licensees are required by law to have adequate cybersecurity risk management systems in place,” Longo added. “We allege FIIG's inadequate cybersecurity measures left the business and its confidential client information vulnerable and exposed to significant risk.”FIIG Securities provides retail and wholesale investors with access to fixed income investments and bond financing, serving as a custodian for client investments and maintaining records of those investments. As an Australian Financial Services (AFS) licensee, the firm has legal obligations to ensure financial services are provided efficiently, honestly and fairly, and to maintain adequate risk management systems.Second Cybersecurity EnforcementThe regulator is seeking declarations of contraventions, civil penalties, and compliance orders against FIIG. This case marks ASIC's second cybersecurity enforcement action, following a 2022 ruling against RI Advice for similar breaches of license obligations.Cybersecurity failures have become an enforcement priority for ASIC, which has recently called for greater vigilance from Australian organizations following findings from its 2023 cyber pulse survey. The regulator has published various resources to help companies improve their cyber resilience and risk management practices.FIIG Securities has not yet issued a public response to the allegations. This article was written by Damian Chmiel at www.financemagnates.com.

Abu Dhabi’s investment company MGX invested $2 Billion in crypto exchange Binance in one of the latest major institutional investment deals in the crypto space. According to the exchange's announcement today (Wednesday), the transaction is structured entirely in stablecoins and marks one of Binance’s major institutional backings as the UAE boosts its involvement in the digital asset space.“As institutional adoption accelerates, the need for secure, compliant, and scalable blockchain infrastructure and solutions has never been greater. Binance has long been a driving force in cryptocurrency innovation, from exchange technology and tokenization to staking and payments,” said Ahmed Yahia, the Managing Director and CEO of MGX.We are excited to announce the first-ever institutional investment in Binance by @mgx_ai. This is a significant step in advancing digital asset adoption and reinforcing blockchain’s role in global finance. The $2B investment is also the single largest investment into a crypto… pic.twitter.com/fjZQBqSyC4— Binance (@binance) March 12, 2025Minority Stake in BinanceThe deal makes MGX a minority shareholder in the world’s largest crypto exchange, although Binance has not disclosed specific details regarding governance rights or the type of stablecoin used. The investment comes as Binance deepens its connections with the UAE under CEO Richard Teng, who succeeded Changpeng Zhao (CZ) following his legal troubles in the U.S. Teng previously led Abu Dhabi’s Financial Services Authority and has overseen Binance’s growing presence in the region. The UAE has been positioning itself as a global leader in digital assets, aiming to attract top crypto firms as part of its economic diversification strategy. “This investment by MGX is a significant milestone for the crypto industry and for Binance. Together, we are shaping the future of digital finance. Our goal is to build a more inclusive and sustainable ecosystem, with a strong focus on compliance, security, and user protection,” Teng commented. MGX, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser, has also invested in AI-focused companies like OpenAI and Elon Musk’s Xai, Reuters reported.Institutional Crypto InvestmentThe deal comes amid a resurgence in the crypto market, with Bitcoin reaching all-time highs after recent political developments in the U.S. Binance, despite facing regulatory scrutiny, continues to seek a global headquarters to enhance transparency. In the past year, the exchange settled U.S. legal cases with a $4.3 billion fine and is under investigation in France for alleged financial misconduct.The MGX investment represents a milestone for Binance, signaling a shift toward institutional backing in the crypto industry. With regulatory challenges still looming, the partnership with an Abu Dhabi-backed entity could offer Binance a more stable footing in the evolving digital finance landscape.As Binance navigates regulatory pressures and market shifts, the $2 billion investment underscores both its resilience and the UAE’s deepening role in shaping the future of crypto. This article was written by Jared Kirui at www.financemagnates.com.

OKX, a global blockchain technology company, announced today its acquisition of a Markets in Financial Instruments Directive (MiFID II) licensed entity. The announcement was made at a private event held at Manoel Island in Malta. The new entity is expected to become operational later this year, pending approval from the Malta Financial Services Authority (MFSA).OKX Obtains MiFID II License for Europe“Securing a MiFID II license marks a significant milestone in our mission to integrate digital assets with traditional financial markets. This authorization strengthens our position in Europe, underscoring our commitment to regulatory compliance, security, and innovation,” said OKX Europe CEO, Erald Ghoos. This acquisition enables OKX to offer regulated derivative products and services to institutional clients across the European Economic Area (EEA), including all 30 EU member states. This move strengthens OKX’s focus on regulatory compliance and expanding its presence in onshore financial markets.“With this license, we are set to deliver institutional-grade services, partner with tier 1 financial institutions, and offer regulated investment solutions that enhance market access and empower investors across the continent,” Ghoos added. OKX Expands EU Reach with New LicenseThe latest development sees OKX President Hong Fang commenting: “OKX is committed to advancing a sustainable and transparent ecosystem in the crypto space. Obtaining a MiFID II license aligns with our mission to make regulated crypto products accessible across Europe, underscoring our dedication to responsible expansion with regulatory compliance at the forefront.”On January 27, OKX obtained a full MiCA license. As a result, it can now offer fully localized services to the European Union (EU) through passporting. EU customers can access a wide range of regulated crypto exchange products, including OTC trading, spot trading, bot and copy trading, and over 240 cryptocurrency tokens across 300 trading pairs. The platform also supports 60+ Euro-based trading pairs. OKX's website and mobile app are customized for local languages, currency displays, and customer support. This article was written by Tareq Sikder at www.financemagnates.com.