The Pacific Island nation of Vanuatu expects to endorse a digital asset and service provider bill in September. Branan Karae, Commissioner of the Vanuatu Financial Services Commission (VFSC), announced this at a digital assets symposium organized by the country's financial regulator on June 27. The bill is expected to be enacted during the first week of Parliament.New Legislation to Regulate Virtual Asset ServicesLoretta Joseph, a VFSC policy consultant and speaker at the conference, stated that the bill had been ready for several years but faced delays due to multiple cabinet changes. The bill, first introduced in 2020, will establish licensing and registration requirements for virtual asset service providers (VASPs), allowing them to operate legally within the nation.Joseph explained that the bill will help Vanuatu meet standards set by the Financial Action Task Force (FATF). The FATF mandates that countries assess and mitigate risks associated with crypto service providers and activities. “The FATF is calling on countries to have legislation around virtual assets. No country in the world can ignore this,” Joseph said.The proposed act includes five license classes, covering service providers that exchange virtual assets and fiat currencies and those offering crypto custody, among other functions. The VFSC will monitor all VASPs to ensure adherence to Anti-Money Laundering and Counter-Terrorism financing laws. The Commissioner will have the authority to veto licenses and appoint inspectors to ensure compliance.#Vanuatu is set to pass a long-awaited digital asset and service provider bill in September, establishing licensing and registration requirements for virtual asset service providers (#VASPs) to operate legally. The bill, delayed due to several cabinet changes, aims to meet… pic.twitter.com/sK8l5YswBX— TOBTC (@_TOBTC) June 27, 2024Launching Fintech SandboxThe act also introduces a “Fintech Sandbox Utility,” allowing companies to operate for 12 months without a license initially. The act mandates that any person conducting VASP activities must be licensed, with penalties including fines of 25 million Vanuatu vatus ($207,700) or imprisonment for 15 years. Corporations can face fines of $2.1 million.Vanuatu, located in the South Pacific Ocean and consisting of 13 principal islands, had a gross domestic product of $1.1 billion in 2022, according to the World Bank. The economy is primarily based on agriculture, with 80% of the population engaged in agricultural activities. It is also regarded as a tax haven and international financial centre, according to the US State Department. The country hosts around 2,300 registered institutions offering offshore banking, legal, accounting, insurance, and trust services. This article was written by Tareq Sikder at www.financemagnates.com.

European digital banking solution provider Finom has appointed Rob Allen as its new Head of Sales, effective July 2024. Finom, which provides financial services for small and medium-sized enterprises (SMEs) and entrepreneurs, aims to serve over 1 million business customers in the coming years.Finom Taps Ex-Revolut Executive Rob Allen as New Head of SalesAllen brings over a decade of fintech experience to Finom, most recently serving as VP of Sales at Super Payments. There, he built a 15-member sales team from the ground up and drove significant increases in payment volume. Prior to that, Allen held the position of Head of Sales for Europe at Revolut, where he led sales teams across six European countries and boosted business client revenue contributions."Rob's extensive experience in scaling sales operations in the fintech sector, particularly his success at high-growth startups, makes him the ideal leader to drive our sales efforts forward," Yakov Novikov, Co-Founder and Co-CEO of Finom, commented. The appointment was facilitated through Finom's connection with Northzone, a new investor in the company's recent €50 million Series B funding round. The company is focused on building a comprehensive financial operating system for its target market across Europe.This recent investment has increased Finom's total capital to more than €100 million since its founding in 2019. Despite the difficult economic conditions, the company managed to secure this funding round effectively. According to Kos Stiskin, the Co-Founder of Finom, attracting investors “was quite easy” given the company's robust performance indicators and the potential in the SME banking market."Finom is at the forefront of transforming financial services for SMEs and entrepreneurs across Europe,” commented Allen. “With its innovative product suite and rapid expansion across major European markets, the company is poised for significant growth."Finance Magnates reported last week on the new professional challenges faced by another former Revolut executive, Hannes Graah. Graah, who served as the VP of Growth at the fintech company, has now founded his own cryptocurrency startup, Zeal. This venture is a wallet for decentralized finance (DeFi) and a digital asset debit card, allowing for the spending of cryptos during everyday purchases in traditional stores. This article was written by Damian Chmiel at www.financemagnates.com.

Mitrade, a pioneering online investment platform, has recently obtained Investment Firm authorization from the Cyprus Securities and Exchange Commission (CySEC). This advancement marks a significant milestone in Mitrade's strategic global expansion, enabling to provide comprehensive online trading services on a wide spectrum of Contracts for Differences (CFDs) across the European Union. Andreas Jacovides, General Manager in Cyprus for Mitrade, expressed enthusiasm about the new opportunities: "We are thrilled to embark on this new journey and seize the growth opportunity the EU market presents. With a focus on transparency, fair trading conditions, and building strong relationships with our clients, we are confident in our ability to navigate the complexities of this market and emerge as a trusted partner to EU traders. This expansion marks an exciting chapter in Mitrade’s story, and we are committed to delivering value and excellence every step of the way."Mitrade’s entry into the EU market is poised to inject unique value into the region. The advanced financial technology and client-centric services that Mitrade offers are expected to spur innovation and stimulate healthy competition within the European FinTech sector, offering investors diverse and quality options for trading.Mitrade's proprietary trading platform is engineered to cater to investors' diverse needs, offering user-friendly access via its web, desktop, and mobile applications. This versatility ensures that investors can interact with the markets on their preferred platforms, enhancing their trading experience with tailor-made features and seamless functionality. The platform is enriched with sophisticated trading tools and features, including advanced trading strategies, dynamic charting, economic calendars, and real-time news updates. These tools empower users to effortlessly keep up-to-date with market trends and identify trading opportunities. Mitrade's simplicity and powerful advanced features made it one of the highest rated CFD trading apps on Apple's AppStore and Google Play. In addition, Mitrade had also received several prestigious awards in 2023, including Best Client Fund Security Global, Most Transparent Broker, and the Forex Customer Satisfaction & Happiness award in Asia. These accolades underscore Mitrade's commitment to providing secure, transparent, and satisfying trading experiences for its global clientele.Committed to forging strong ties with EU clients, Mitrade aims to empower investors with its cutting-edge platform and its robust services, aimed to enhance the overall trading experience. This initiative will not only solidify Mitrade’s position in the European financial landscape but will also establish a robust foundation for future growth in the financial technology sector.About Mitrade: Mitrade is a leading online trading platform that provides traders with access to a wide range of CFDs, including forex, indices, commodities, shares, ETFs and cryptocurrencies. With a user-friendly interface and powerful trading tools, Mitrade empowers traders of all levels to trade with confidence and ease. The platform offers a comprehensive suite of features, including advanced charting, risk management tools, educational resources, and a dedicated customer support team. Mitrade is committed to delivering an exceptional trading experience, combining innovative technology with a client-centric approach. This article was written by FM Contributors at www.financemagnates.com.

Retail FX/CFD trading company SquaredFinancial has unveiled a new Social Trading tool for the MetaTrader 4 (MT4) platform, expanding its suite of trading solutions. The feature aims to enhance the user experience by enabling traders to mirror the strategies of top performers across different MetaTrader versions.SquaredFinancial Brings Social Trading to MT4The Social Trading tool allows MT4 users to copy trading strategies from both MT4 and MT5 platforms, providing a cross-server solution that bridges the gap between the two popular trading interfaces. According to a press release from SquaredFinancial, the solution works both ways. Users who regularly use MT5 can also copy and follow the strategies of traders using earlier versions of the platform.“MT4 enthusiasts, whether beginners or professionals, can now mirror top-performing trading strategies with full control of their positions,” the company commented.Some time ago, SquaredFinancial released a refreshed version of its mobile app, which allows users not only to manage their accounts but also to trade from anywhere. Shortly before that, the broker also introduced a revamped partnership program and a revamped partners' website. As part of this, it offers up to 70% of spreads and $1,200 per CPA.Towards the end of last year, the FX/CFD trading-focused fintech company implemented a fraud prevention framework. In response to recent instances of financial misconduct within the trading sector, the firm has taken steps to enhance its compliance and risk management capabilities. This includes expanding relevant teams and refining processes to identify and respond to potential fraudulent activities more effectively.Why Retail Traders Choose Social TradingSocial trading enjoys immense popularity among retail investors, which brokers are keen to capitalize on. A month ago, eToro launched the "Live Trades" feature, showing real-time transactions of experienced investors. Retail traders are increasingly turning to social trading for several compelling reasons:Accessibility for beginnersLearning opportunityTime-savingCommunity engagementDiversificationTransparencyPotential for passive incomeRisk managementAdditionally, in March, the Polish fintech company XTB also launched social trading, allowing interested clients to follow the portfolios of the more experienced investors. This article was written by Damian Chmiel at www.financemagnates.com.

The final approval for the trading of spot Ethereum exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC) could come as soon as July 4, Reuters reported, citing “industry executives and other participants.” Although the SEC has yet to confirm anything officially, its talks with asset managers on the spot Ether ETF have been said to have entered the final stage. Eight asset managers, including BlackRock, VanEck, Franklin Templeton, and Grayscale Investments, seek approval to launch spot Ether ETFs.enter the ether ? pic.twitter.com/YXgKQFP5Nr— VanEck (@vaneck_us) May 23, 2024Spot Ether ETF Is Coming to the US Last month, the US agency already approved the listing of spot Ether ETFs on three American stock exchanges, Nasdaq, CBOE, and NYSE. Then, the approval only came for the 19b-4 forms tied to the Ether ETFs for introducing new products or amending existing rules.Now, the SEC must greenlight the S-1 forms filed by prospective issuers of the instruments. These forms contain detailed information about new securities to be offered to the public, including the fund’s structure, management, and investment strategy, along with details on the methods of tracking the performance of the underlying assets. The SEC must approve both 19b-4 and S-1 forms for the Ether ETF to be publicly available for trading.Last Minute Fixes The latest report outlined anonymous executives from two firms who confirmed that the process of amending the S-1 forms has commenced to address some “minor” issues. Further, an anonymous lawyer working on one of these issues also told the publication that it was "down to the finishing touches" and that approval is "probably not more than a week or two away."The SEC approved the Bitcoin ETF in January, ending a decade-long wait for many companies. The new spot Bitcoin ETFs were a hit, adding nearly $38 billion in assets. However, Grayscale Bitcoin Trust, which converted its $27 billion trust fund to an ETF, witnessed $17.8 billion in net outflows. If approved, Grayscale will convert its Ether trust fund into an ETF again.Interestingly, the prospective issuers of Ether ETF had already dropped the provisions of “staking” from their S-1 filing earlier to prevent any negative regulatory attention. Recently, VanEck reportedly set a 0.2 percent fee for its proposed spot Ether ETF. This article was written by Arnab Shome at www.financemagnates.com.

Cryptocurrency company Abra and its CEO, William “Bill” Barhydt, settled with 25 state financial regulators in the United States for operating a crypto business without obtaining appropriate licenses. Apparently, it offered crypto trading and investing services without any license.Announced yesterday (Wednesday) by the Conference of State Bank Supervisors (CSBS), the participating states in the settlement are Alaska, Alabama, Arizona, Arkansas, Connecticut, District of Columbia, Georgia, Idaho, Iowa, Maine, Minnesota, Mississippi, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, Rhode Island, South Carolina, South Dakota, Texas, Vermont, Washington, and West Virginia.Returning Customer Funds Under the terms of the settlement, Abra will return up to $82.1 million in crypto to US customers in each of the settling states and also agreed to stop accepting crypto allocations from customers all over the country. Notably, the company already ceased offering buying, selling, or trading cryptocurrencies for US customers on 15 June 2023.Furthermore, Barhydt agreed not to be involved in any money transmitter or money services business licensed or required to be licensed in the settled states for the next five years. However, he can be a passive investor.“State financial regulators take their role to protect consumers and prevent unlicensed activity seriously,” said CSBS Chair and Washington State Department of Financial Institutions Director Charlie Clark. “Companies that do not operate within the bounds of state laws will be held accountable.”Having launched a crypto-focused wealth advisor in the United States, clients are able to get investment exposure to 100+ digital assets, earn yield, and access DeFi based loans. Here, our CEO @billbarX and @APompliano discuss the future of Abra and what it means to harness… pic.twitter.com/p3T8pIqdjo— Abra (@AbraGlobal) June 26, 2024Barhydt founded Abra in 2014 and offers cryptocurrency trading, lending, and borrowing services to retail and institutional investors. It provides investment into Abra Earn and Abra Boost, which allegedly contained misleading statements.The company came into regulatory scrutiny in mid-2013 as the Texas state regulator issued a cease-and-desist order, claiming that the company had been insolvent since at least 31 March 2023. The regulator further claimed that Abra "made offers of investments in Abra Earn in Texas containing statements that were materially misleading or otherwise likely to deceive the public."In January, the Texas state regulator settled with the company, which agreed to return the frozen funds to the customers. At that time, it held $13.6 million in crypto assets for roughly 12,000 investors from the state.Abra’s Response Meanwhile, following the latest settlement with 25 states, Barhydt clarified in an X post that “Abra Private and Abra Prime are fully operational in the USA and International.”https://t.co/jpAtQ5Btq5— Bill Barhydt (@billbarX) June 26, 2024“Back in January we announced settlements with Texas and certain state securities regulators around Abra Earn. Today we've finished the last piece of this by signing a term sheet with state MT regulators,” he added.“Since Abra stopped offering the app over a year ago in the US this agreement doesn't directly affect any of you. No penalties are being paid as part of this agreement as no users were harmed in any way.” This article was written by Arnab Shome at www.financemagnates.com.

An incident involving a technical glitch on the New York Stock Exchange that caused Berkshire Hathaway shares to plummet has triggered a chain of events leading to a $48 million loss for Interactive Brokers, the Financial Times reported. The brokerage giant found itself covering its customers' trades after the NYSE declined to offer compensation for the mishap.A Dramatic Price Drop and Its AftermathOn June 3, Berkshire Hathaway's class A shares, among others, experienced an unexpected plunge from $622,000 to $185 per share due to a technical issue during early trading on the NYSE. This steep drop reportedly halted trading and prompted a flurry of buy orders from Interactive Brokers' customers, anticipating a favorable fill price when trading resumed. However, once the market reopened nearly two hours later, Berkshire's shares skyrocketed to $741,941, resulting in orders being filled at various prices, some peaking near the highest price. The NYSE decided to cancel all trades below $603,718.30 conducted before the halt, which meant that Interactive Brokers had to cover a significant portion of its customers' trades made through its platform. Despite requesting the NYSE cancel these deals, the brokerage's plea was rejected, forcing it to accommodate its customers financially. This decision culminated in a substantial $48 million loss for the brokerage. Interactive Brokers caters to both retail investors and professional traders, such as hedge funds. In response to the incident, the company is exploring legal avenues to recover some of the losses, although they stated that the financial hit was not material to their earnings.Previous ChallengesThis isn't the first time Interactive Brokers has faced such challenges. In 2020, the brokerage suffered an $88 million loss from the collapse of short-term WTI oil futures contracts, again stepping in to cover margin calls for its customers.Meanwhile, Interactive Brokers joined Cboe Europe Derivatives (CEDX) last month as a trading and clearing participant, offering users access to CEDX's range of pan-European equity derivatives. This collaboration seeks to enhance the ability of retail investors to access European derivatives markets.Additionally, Interactive Brokers launched a new product to allow institutional and retail traders to access the French stock market. Dubbed Daily Options on the CAC 40 Index, these offerings promise to give users tools to navigate global markets. This article was written by Jared Kirui at www.financemagnates.com.

Web 3 firm Animoca Brands is preparing to go public in 2025, potentially in key financial hubs in Hong Kong or the Middle East, The Information reported. The company, renowned for its investments in NFTs and crypto gaming, is currently in talks with investment banks but has yet to finalize an adviser, according to Co-founder Yat Siu.Nearly $6B ValuationThis decision followed a period of significant growth and a boost in valuation, with the company being valued at $5.9 billion during its last funding round in 2022. Siu has disclosed that the firm has been in discussions with several investment banks. However, they have not yet appointed an official adviser to guide them through the IPO process. Animoca Brands has a robust portfolio, focusing primarily on non-fungible tokens (NFTs) and crypto gaming companies. This focus has positioned Animoca as an important player in the digital asset space. The decision between Hong Kong and the Middle East as potential venues for the IPO will be crucial. Currently, Hong Kong offers proximity to Animoca’s significant market in Asia and a well-established financial infrastructure. On the other hand, the Middle East, particularly hubs like Dubai and Abu Dhabi, presents a rapidly growing market with increasing interest in digital assets and blockchain technology.Recently, more companies in the US have announced plans to go public, the latest being Marex Group, a UK-based financial services platform. According to a report by Finance Magnates, the group has filed for an IPO of its ordinary shares with the Securities and Exchange Commission (SEC).More Firms Eye IPOsThe company reportedly aims to list its shares on the Nasdaq stock exchange under the ticker symbol "MRX." Barclays, Goldman Sachs & Co. LLC, Jefferies, Keefe, and Bruyette & Woods have been appointed as the joint lead book-running managers for the proposed offering.Meanwhile, the SEC has developed comprehensive rules to bolster investor protection in Special Purpose Acquisition Companies and their subsequent business combination transactions, commonly known as de-SPAC transactions.SPACs have increasingly been adopted as an alternative method for private companies to go public. Given the challenges involved in such transactions, the regulator has highlighted the importance of adopting rules similar to those of traditional IPOs. This article was written by Jared Kirui at www.financemagnates.com.

Bitstamp, recognized as the world's oldest operating cryptocurrency exchange, has announced significant updates to its platform ahead of the Markets in Crypto-Assets Regulation (MiCA), set to be enforced across the European Union on June 30. The exchange has confirmed that the EUR-denominated stablecoin EURT will be delisted before the regulatory deadline.Maintaining Non-Euro EMTsElectronic Money Tokens (EMTs) currently available on Bitstamp, which do not fall under Euro denomination and are not yet within MiCA's regulatory scope, will remain listed. However, these tokens will have restricted availability for European customers on specific products.Bitstamp has declared its intention to refrain from listing any new EMTs that do not comply with MiCA requirements, as well as abstaining from marketing such tokens. The exchange boasts over 50 licenses globally, positioning itself as one of the most regulated exchanges.? We're making some changes to accord with MiCA regulation coming into force on June 30th.EURT will be delisted, and EMTs will have limited availability to European customers. Our commitment to compliance and security stays strong. Learn more: https://t.co/S4xSlgL0fO— Bitstamp (@Bitstamp) June 26, 2024Aligning with MiCA StandardsAcknowledging its proactive stance on regulatory compliance, Bitstamp affirms its alignment with many of MiCA's existing standards. The exchange continues to vigilantly monitor further developments in the MiCA framework to ensure ongoing adherence to regulatory mandates.“We welcome MiCA’s implementation to make crypto regulation uniform across the European Union. As the world’s longest-running cryptocurrency exchange, we have consistently advocated for proportionate response to regulation which protects consumers while allowing for the ongoing maturation of cryptocurrencies as an asset class.”“Our commitment to compliance and security means we are in a strong position to adapt to these welcome changes. We are communicating directly with the small proportion of our customers whose asset mixes are affected,” said James Sullivan, UK Managing Director at Bitstamp. This article was written by Tareq Sikder at www.financemagnates.com.

B2Broker, a leading technology and liquidity provider, introduced a new update to its comprehensive crypto spot brokerage solution, B2Trader Brokerage Platform. The new v1.1 update introduces BBP Prime, offers an extended report feature and provides flexible layout customisation.The new B2Trader comes with a native BBP iOS mobile app as a part of the company’s turnkey solutions. The application provides seamless integration with B2Core’s advanced CRM software and has a unique trading interface specially made for iPhone users.What Does the New BBP v1.1 Have to Offer?BBP v1.1 introduces multiple innovative features that benefit brokerage firms and improve the end-user’s trading experience.BBP Prime - A Prime Brokerage Platform With this release, B2Trader is introducing a new feature that enables it to serve as a prime brokerage platform for other B2Trader brokerage platforms. Linked platforms can maintain and top up their balances on the BBP Prime, which will, in turn, manage and oversee balances on associated accounts on LPs.In this case, BBP Prime is responsible for monitoring balances on brokers’ accounts, processing incoming orders, forwarding them to LPs/B2Connect, and managing trades, where data exchange is facilitated through the bespoke FIX gateway.Custom Template ConstructorThe new BBP update allows admins to customise their workspace at high flexibility and convenience. Brokers can personalise templates for workspace layouts, such as the default preset that will appear when a trader access the trading terminal for the first time. BBP admins can import pre-saved designs, export their template settings and save up to 10 custom layouts.Administrators can find this unique feature in the Settings section on the left-hand side of the menu.Comprehensive Report GenerationThe revamped reports system in the B2Trader’s update assists brokers in having a comprehensive view of their platform’s performance. Specifically, a new report type has been added to enable admins to get a list of active accounts during a given period. These reports are valuable tools for administrators to assess the growth of their exchange or brokerage.The new BBP v1.1 stores all reports in a new “Report “button to simplify report generation and accessibility.Robust Account ManagementThe new B2Trader version displays account selection directly from the trading terminal in the top bar. When a trader switches profiles, all widgets automatically adjust to display relevant information for that profile. This feature is significantly crucial for brokers who manage multiple accounts, offering them a simplified way to track their performance.Newly Introduced Tabs in an Advanced Workspace ManagementThe new update introduces tabs with custom workspaces, enabling traders to manage up to 10 tabs and work on multiple trading environment simultaneously. Users can creat their own custom setups or use pre-created layouts provides by their brokers. This approach allows end-users to organise their trading flow and streamline it for more efficiency.BBP iOS App - Expanding the Turnkey Solution OfferingsMobile trading is a growing trend, and according to the Stock Trading and Investing Applications Market report, 58% of revenue share in global trading markets in 2022 came from mobile trading platforms. This trend is expected to prevail as the industry is projected to grow from almost $40 billion in 2023 to $150 billion in 2032, according to the same report.Mobile applications are clearly becoming an inevitable part of the trading industry, with over 6.8 billion smartphone users around the world. Therefore, today’s brokers are switching to creating a mobile version of their platform to remain competitive in the industry.B2Broker aligns with these trends by expanding its BBP turnkey solutions and introducing the BBP iOS app v1.0, offering a superior mobile experience using all desktop trading functionalities. Having an integrated. Having a seamless ecosystem of a robust web trading platform and a native mobile trading app equips brokers with a complete trading package to offer their clients.Let’s go through some highlights of the BBP iOS app:Facilitated Integration with B2CoreThe new BBP iOS app is integrated with the B2Core CRM mobile application, offering a single sign-on functionality. When users are logged into the B2Core mobile app, they can directly access the BBP iOS app without re-entering their credentials.Comprehensive Account Management and FunctionalityThe updated B2Trader platform offers a multi-account functionality, where BBP iOS app trader can switch between accounts and trade easily. Users can check the “Account Details” in the app to have a simplified overview of available and on-hold amounts for each accounts, and get instant access to balance information.Simplified Market and Order MonitoringThe BBP app offers a comprehensive “Market” screen with an intuitive trading interface. Users can access this tab from the “Markets” button on the “Accounts” details screen. This tab shows customisable real-time price charts, various chart types, and historical price data. The screen also displays three tabs (Order Book, Open Orders, and Balances), which give quick access to trading and account information.The app offers similar options for order types to the web platform: IOC and FOK for market orders and IOC, FOK, GTC, GTD, and Day for limit orders. Users can find the comprehensive “Orders” section with all needed information about order prices, types, quantities, and processing times, as well as advanced filters that assist traders in finding specific orders efficiently to optimise order management.Personalised ExperienceThe BBP iOS application is an integral part of a turnkey solution. It offers brokers a simplified way to personalise their platforms’ themes and looks to align with their unique branding and ensure a consistent UX across the web and mobile platforms. Moreover, the app has light and dark themes, allowing traders to choose their preferred mode.Final TakeawaysThe new B2Trader Brokerage Platform update and iOS mobile app release are significant milestones solidifying B2Broker’s market leadership. B2Trader is a powerful trading platform that allows crypto spot brokers to access the market or expand their service offerings. Brokers can use BBP as a turnkey solution or integrate it with any CRM using REST API.With various visual and performance enhancements, the new B2Trader sets the scene for the best brokerage platform and how to better respond to brokers’ changing needs. This article was written by FM Contributors at www.financemagnates.com.

B2Broker, a technology and liquidity provider, has released an update for its B2Trader Brokerage Platform. The new version, BBP v1.1, introduces BBP Prime functionality, enhanced reporting features, and customizable layouts.Adding Prime Brokerage CapabilitiesA key addition in BBP v1.1 is the BBP Prime feature. This enables the BBP to act as a prime brokerage platform for other B2Trader platforms. Linked platforms can manage and top up their balances on BBP Prime, which oversees balances on associated accounts. BBP Prime monitors brokers' accounts, processes orders, and manages trades through a custom FIX gateway.The update also enhances the platform's customization options. BBP admins can now offer personalized workplace layouts, including a default template for new traders. Admins can import, export, and save up to ten custom setups, accessible from the “Settings” section.The reporting system in BBP v1.1 has been extended to help admins gain insights into platform activity. A new report type allows admins to list active accounts over specific periods, aiding in the assessment of platform growth. Reports can be generated and customized via a new “Report” button.A massive update to our turnkey brokerage solution is incoming! Introducing BBP V1.1 and iOS 1.0. We’ve revamped B2Trader with a new prime brokerage feature, improved reporting, and more! https://t.co/5L5LEvRyRX— B2Broker - Liquidity & Technology Provider (@b2broker_net) June 26, 2024Account management has been streamlined with the ability to select accounts directly from the “Trading” terminal. When traders switch profiles, widgets and settings automatically adjust to display relevant information for the selected account.The terminal update includes new tabs and workspaces, allowing traders to open up to ten tabs and manage multiple trading spaces. Users can apply broker-provided layouts or create custom setups to organize their trades more efficiently.iOS App with Full Trading FeaturesB2Broker has released the BBP iOS mobile app as part of the B2Trader turnkey package. The app integrates with the B2Core CRM solution, offering a seamless trading experience for iPhone users. The BBP iOS app v1.0 includes all desktop trading functionalities.The app allows users to switch accounts and view available and on-hold funds in the “Account Details” screen. The “Market” screen provides real-time charts, historical price data, and quick access to trading and account details. Users can place various types of orders and use advanced filters to manage them. This article was written by Tareq Sikder at www.financemagnates.com.

Finalto has been named ‘Most Trusted Liquidity Provider’ at the Ultimate Fintech Awards GLOBAL 2024 following the iFX EXPO International in Cyprus on June 20th.Finalto's win in this prestigious competition highlights its esteemed position among leading finance and fintech firms. This accolade not only underscores Finalto’s market leadership but also enhances its business relationships and credibility.Finalto has been recognized multiple times for its excellence, winning ‘Best CFD Liquidity Provider’ at the Ultimate Fintech Awards GLOBAL 2023 and ‘Best B2B Liquidity Provider’ at the Ultimate Fintech Awards GLOBAL 2022. This most recent win at the Ultimate Fintech Awards 2024 continues to underscore the industry's high regard for Finalto's consistent leadership in providing top-tier liquidity solutions.Paul Groves, UK B2B CEO at Finalto, commented: “All awards are important to Finalto, but this one is especially significant as it reflects our clients' trust. In a world where long-term relationships are vital, this recognition affirms our commitment to exceptional service and innovative solutions. It motivates us to deepen our client connections and reinforces our role as a reliable, trusted partner.”Antony Parsons, Head of Liquidity at Finalto added: “This recognition reflects our continued dedication to providing reliable and transparent services. We extend a huge thanks to our clients and partners for their continued trust and support. We remain dedicated to maintaining the highest standards and continuously adapting to meet the evolving needs of our clients.” This article was written by FM Contributors at www.financemagnates.com.

Cyprus Securities and Exchange Commission (CySEC) has launched a consultation to gather market views on the proposed fees and reporting requirements under the Markets in Crypto-Assets Regulation (MiCA). This initiative invites stakeholders to give their opinions and influence the future framework, with responses due by July 17, 2024.MiCA Regulatory FrameworkMiCA aims to establish a unified regulatory framework for crypto-assets across Europe. It targets crypto-assets that are fungible but not classified as financial instruments. The regulation, effective from May 31, 2023, seeks to create clarity and consistency within the crypto market.The regulation categorizes crypto-assets into three main types: asset-referenced tokens (ARTs), electronic money tokens, and other crypto-assets. Besides that, the MiCA has introduced new categories of entities that will be under the supervision of CySEC. These include the offerors of crypto-assets, issuers of ARTs, excluding credit institutions, entities issuing asset-referenced tokens, and crypto-asset service providers. Already, the MiCA regulations have led to notable changes in the industry. This month, Binance announced plans to make changes to ensure compliance in its trading on rewards platforms. Under the MiCA framework, only regulated firms can issue and offer stablecoins. Currently, many existing stablecoins on Binance do not meet these criteria and will be designated as unauthorized stablecoins, the cryptocurrency exchange said.MiCA Takes EffectMeanwhile, the ESMA has laid out a comprehensive plan to address crypto-related risks and establish a regulatory framework for the digital asset space under MiCA. These measures, encompassing authorization, governance, conflict resolution, and complaint handling procedures, seek to strengthen the crypto ecosystem. The first package, set to launch in July 2023, regards mandates, such as notification content, application for authorization, and complaint handling procedures.Already, MiCA is bearing positive results in the digital asset space. According to a report by global identity intelligence company AU10TIX, fraudulent activities have moved away from the cryptocurrency space, marking a significant decline of 51% in attacks attributed to the implementation of the Market in Crypto Asset (MiCA) regulation.Additionally, the report disclosed how regulatory crackdowns in the digital asset space are redirecting fraudsters toward the payments sector. The report highlighted a 56% growth in fraud in the payments sector, boosted by factors like increased digital transaction volumes in the Asia Pacific region and the economic recovery in North America. This article was written by Jared Kirui at www.financemagnates.com.

Bybit, the world’s second-largest crypto exchange by trading volume, announces that Bybit Card brings its customers Apple Pay, a safer, more secure and private way to pay that helps customers avoid handing their payment card to someone else, touching physical buttons or exchanging cash — and uses the power of iPhone to protect every transaction.Customers can hold their iPhone or Apple Watch near a payment terminal to make a contactless payment. Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code. Apple Pay is accepted in grocery stores, pharmacies, taxis, restaurants, coffee shops, retail stores, and many more places.Customers can also use Apple Pay on iPhone, iPad, and Mac to make faster and more convenient purchases in apps or on the web in Safari without having to create accounts or repeatedly type in shipping and billing information. Apple Pay makes it easier to pay for food and grocery deliveries, online shopping, transportation, and parking, among other things. Apple Pay can also be used to make payments in apps on Apple Watch. Security and privacy are at the core of Apple Pay. When customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted, and securely stored in the Secure Element, an industry-standard, certified chip designed to store the payment information safely on the device.Apple Pay can be set on an iPhone by opening the Wallet app, tapping, and following the steps to add Bybit’s credit or debit cards. Once a customer adds a card to iPhone, Apple Watch, iPad, and Mac, they can start using Apple Pay on that device right away. Customers will continue to receive all of the potential rewards and benefits offered by Bybit Card. About BybitBybit (https://www.bybit.com) is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team. This article was written by FM Contributors at www.financemagnates.com.

The Finance Magnates Pacific Summit 2024 (FMPS) is right around the corner, coming to Sydney, Australia this August 27-29. This professional event looks to establish itself as the perfect opportunity to bridge the B2B and B2C space in the Asia-Pacific (APAC), culminating in multiple content stages for attendees. FMPS will be held at the world-famous International Convention Center (ICC). ICC Sydney is one of Australia’s leading venues for conventions, exhibitions, and entertainment. Prospective attendees can expect a strong showing of retail traders as well as plenty of other industry participants including the following:Forex/CFD BrokersInstitutional BrokersAffiliates & IBsTraders & InvestorsEducators & Market ExpertsFintech & Payments BrandsCrypto & Digital Assets BusinessesTechnology & Liquidity ProvidersPress/MediaRegulatorsStart-upsInvestors/VCsThe time to sign up and reserve your seat for FMPS is now! Registration for FMPS is already open and can be accessed via the following link. Make sure to sign up in advance and skip the lines and queues on-site! Participants can also explore discounted travel options to ensure the optimal journey to FMPS.New Content Stages to Headline FMPSFMPS will feature two unique content stages, Centre Stage and Exchange Zone. Both of these forums will serve as innovative content hubs, where panels, sessions, and workshops will be held throughout the two-days of exhibition. Stay tuned over the next month for the full rollout of the event’s agenda. Centre Stage will be covering key topics, trends, and discussion points from around a total of four industry verticals. This includes online trading, crypto, fintech, and payments. Some of the biggest speakers and talent from these verticals will be headlining these sessions, with something for all attendees. By extension, FMPS will be catering to a sizable attendance of retail traders. As such, FMPS will include another stage, the Exchange Zone, dedicated to the education and analysis for traders. This unique stage is the perfect destination for thousands of attendees who can take advantage of this hub to learn, ask questions, and interact with top analysts and brokers. Attendees can also expect to hear from leading traders and analysts in what will be one of the most anticipated stages of the entire event. No other event in APAC will have so many brands and industry-leading talent under one roof. This is the perfect chance to engage, connect, and strike up new business deals with partners and traders. South Africa, not unlike the rest of the continent, is full of potential. FMPS is your chance to unlock these opportunities!See you in Sydney this August! This article was written by Jeff Patterson at www.financemagnates.com.

Binance has announced a significant transition for its United Arab Emirates (UAE) users. Following the receipt of a full Virtual Asset Service Provider (VASP) license from Dubai's Virtual Assets Regulatory Authority (VARA), Binance will migrate all UAE resident accounts from its global platform to the locally regulated Binance FZE exchange (Binance Dubai).UAE Residents to Transition from Binance Global to Binance DubaiThe transition process, set to begin today (Wednesday), will require UAE residents to update their Know Your Customer (KYC) information by December 15, 2024. Users will be contacted via email with instructions on submitting the necessary documentation.During the transition period, UAE users can continue to access their existing Binance Global accounts and services. After December 15, accounts will be automatically moved to Binance Dubai, with login credentials and user IDs remaining unchanged.Binance FZE will offer a range of services, including exchange, broker-dealer, lending and borrowing, and virtual asset management and investment services. The platform will support over 300 virtual assets and provide access to local fiat currency (AED) deposits and withdrawals.Binance guides UAE users to transition accounts to VARA-regulated Binance FZECrypto exchange Binance has announced on its official website that all UAE residents will transition their accounts from the Binance Global Exchange to the Binance FZE exchange, regulated by the Dubai…— CoinNess Global (@CoinnessGL) June 26, 2024“Unsupported assets will be liquidated by the KYC deadline before eligible users are migrated to the Binance Dubai regulated platform. The exact date of liquidation may vary from asset to asset as liquidation may take place near the deadline,” Binance commented.Users with both Binance.com and Binance Dubai accounts will need to choose which account to maintain, as Binance FZE will not allow multiple accounts per user. Those who do not complete the KYC process by the deadline will have their accounts restricted to withdrawal-only mode.To incentivize early compliance, Binance is offering a promotion for users who complete their KYC updates before October 30, 2024. Participants will be entered into a prize draw with a total reward pool of $500,000 in Bitcoin, including a grand prize of 1 BTC.Binance Dubai Expand ServicesThe movement described above is possible thanks to the decision made in April, when Binance Dubai received a VASP license from VARA. This development comes nearly a year after Binance entered the third stage of Dubai's four-stage regulatory process. As Finance Magnates reported in June last year, Binance decided to focus on the Middle East due to regulatory pressures in Western markets. For instance, Binance had to deregister in the UK, and also leave the Netherlands and Cyprus. More problems in Europe emerged today with the implementation of regulations concerning stablecoins as part of the European MiCA initiative. Due to these regulations, Binance will have to restrict access to a range of services based on "unauthorized stablecoins" and suspend its copy trading service. This article was written by Damian Chmiel at www.financemagnates.com.

Regulatory Technology, or RegTech, is emerging as a transformative force within the financial services sector across the Asia-Pacific (APAC) region. As regulatory requirements become increasingly complex, financial institutions are turning to innovative technological solutions to ensure compliance, manage risks, and enhance operational efficiency. RegTech is revolutionizing the way these institutions operate, providing tools that not only streamline regulatory processes but also foster greater transparency and security.The adoption of RegTech in APAC is being driven by a number of factors, including stringent regulatory landscapes, the rapid growth of the financial sector, and the increasing incidence of financial crimes. Governments and regulatory bodies in the region have been progressively tightening compliance requirements to safeguard against money laundering, fraud, and other illicit activities. This has led to a surge in demand for advanced technologies capable of managing large volumes of data, conducting real-time analysis, and ensuring meticulous adherence to regulatory standards.RegTech Making its Mark in APACOne of the key areas where RegTech is making a significant impact is in the automation of compliance processes. Traditional compliance methods, often reliant on manual checks and paper-based documentation, are not only time-consuming but also prone to human error. RegTech solutions employ advanced technologies such as artificial intelligence (AI) and machine learning to automate these processes, ensuring greater accuracy and efficiency. By leveraging AI, financial institutions can continuously monitor transactions, detect suspicious activities, and generate compliance reports with minimal human intervention. This not only reduces the risk of non-compliance but also allows institutions to allocate resources more effectively.In addition to automation, RegTech is enhancing the capabilities of financial institutions to manage risks. Risk management is a critical aspect of regulatory compliance, and RegTech solutions provide sophisticated tools for assessing and mitigating various types of risks. For instance, predictive analytics and big data technologies enable institutions to anticipate potential compliance issues before they arise, allowing for proactive measures. This capability is particularly valuable in the dynamic APAC market, where regulatory changes are frequent and financial ecosystems are diverse. By staying ahead of potential risks, institutions can maintain regulatory compliance and protect their reputations.Another significant contribution of RegTech in the APAC region is in improving the efficiency of regulatory reporting. Financial institutions are required to submit regular reports to regulatory bodies, detailing their compliance status and other relevant information. This reporting process can be cumbersome and resource-intensive, especially for large institutions operating in multiple jurisdictions. RegTech solutions streamline this process by automating data collection, validation, and submission. Advanced analytics and reporting tools ensure that reports are accurate, comprehensive, and submitted on time, thereby reducing the administrative burden on institutions and enabling them to focus on core business activities.APAC as a RegTech HubThe integration of RegTech is also facilitating greater collaboration between financial institutions and regulatory bodies. In the APAC region, regulators are increasingly recognising the potential of RegTech to enhance regulatory oversight and are encouraging its adoption. Some regulators are even collaborating with technology providers to develop customised solutions that address specific regulatory challenges. This collaborative approach not only fosters innovation but also ensures that RegTech solutions are aligned with regulatory expectations. As a result, there is a growing ecosystem of RegTech providers and financial institutions working together to create more robust and effective compliance frameworks.Furthermore, RegTech is playing a crucial role in bolstering cybersecurity within the financial sector. The rise of digital banking and fintech innovations has exposed institutions to new cyber threats, making cybersecurity a top priority. RegTech solutions incorporate advanced security features, such as encryption, blockchain technology, and AI-driven threat detection, to safeguard sensitive data and transactions. By integrating these technologies, financial institutions can enhance their defense mechanisms against cyber attacks and ensure the integrity of their operations.RegTech in Focus at FMPSRegTech will be a key area of focus at the upcoming Finance Magnates Pacific Summit (FMPS) on August 27-29 in Sydney, Australia. As the premier event for the retail trading industry and RegTech community at large, this event will draw the biggest speakers and specialists from around the world.Prospective attendees can expect a blend of local and global expertise, providing a cohesive platform to connect, learn, and build valuable relationships. With a fully curated content track and countless sessions, panels, and more, this event will dive into the latest RegTech trends, topics, and where the industry goes from here. Registration for the summit is already live and can be accessed via the following link. ConclusionRegTech is shaping the financial sphere in APAC by providing innovative solutions to complex regulatory challenges. The technology is enhancing compliance processes, improving risk management, streamlining regulatory reporting, and bolstering cybersecurity. Countries like Australia is leading the way in adopting RegTech, setting examples for others in the region. However, to fully realize the potential of RegTech, continued collaboration and standardization are necessary. This article was written by Jeff Patterson at www.financemagnates.com.

Drew Niv, who took on the role of Chief Strategy Officer at ATFX this year, brings a wealth of experience and a fresh perspective to the team. Today, he will share more about his vision and strategic plans for driving ATFX's growth and development.Hi Drew, thanks for joining us today. We're thrilled to have you on board at ATFX this year. As the Chief Strategy Officer at ATFX, could you share with us why you joined ATFX and some specific strategies or initiatives you plan to implement in your new role to drive the company's growth and development?Drew Niv: It all comes down to great people. The FX/CFD industry is extraordinarily competitive, crowded with hundreds of decent-sized competitors and thousands of smaller ones. Competition multiplies in every corner of the universe every day. Despite all of this, ATFX has managed not only to grow but to propel itself into an industry powerhouse ranked in the top ten globally. All of this success has been achieved without unique technological or trading advantages, which speaks volumes about the amazing staff that have thrived despite the long odds.What drew me to ATFX was not just its impressive track record, but the vibrant culture that fosters teamwork, innovation, and a relentless pursuit of excellence. It's exhilarating to be part of a team that has already achieved so much and is poised to reach even greater heights. I look forward to contributing to this dynamic environment and driving our future success.As the newly appointed Chief Strategy Officer, my focus will be on driving ATFX's growth and development through technological advancement and product innovation. We will invest significantly in cutting-edge technologies to enhance our trading platforms and diversify our product offerings to cater to our clients' evolving needs. By leveraging these strategies, we aim to provide our clients with more efficient and secure trading experiences and stay ahead in the industry.Our strategy also includes a strong focus on our clients. We plan to diversify our product offerings, expanding into new asset classes and developing bespoke financial products tailored to our clients' evolving needs. Through extensive market research, we aim to identify gaps and opportunities, ensuring that ATFX remains at the forefront of financial innovation. By understanding our clients’ needs better, we can offer solutions that not only meet but exceed their expectations, making them feel valued and heard.My ultimate goal is to build upon the solid foundation established by the current team and drive ATFX to remain the leading global player in the FX/CFD space. Together with our exceptional staff, I am confident that we will achieve remarkable growth and continue setting new benchmarks in the industry.As a distinguished figure in the FX industry, what do you see as the biggest challenges and opportunities facing ATFX in the current financial landscape, and how do you plan to address them strategically?Drew Niv: ATFX faces the challenge of extending beyond its market dominance in Asian markets and making a big push in MENA, LATAM, and Africa. This means getting its global brand to catch up with its Asian name recognition. Even in Asia, ATFX needs to upscale its brand and be a magnet for a larger wallet share of its clients' money. We have very ambitious plans, from strategic partnerships and acquisitions to introducing new products to the market.One of the biggest challenges in the current financial landscape is technological advancement. The rapid pace of technological change means that we must continually invest in updating our trading platforms, enhancing cybersecurity measures, and utilizing big data analytics to provide better services. These investments are crucial for maintaining competitiveness but require careful resource allocation to balance short-term costs with long-term gains.Conversely, challenges present substantial opportunities as well. For instance, expanding into new markets allows us to diversify our revenue streams and reduce dependency on any single region. Establishing a strong presence in emerging markets such as MENA, LATAM, and Africa can help us capture new customer segments and grow our client base.Strategically we plan to address the challenges by focusing on three main areas: innovation, partnerships, and customer-centricity. Innovation will involve the continuous development of cutting-edge trading technologies and platforms that meet the evolving needs of our clients. Partnerships with local firms will help us navigate regional complexities more effectively while enabling us to leverage local knowledge and networks.A customer-centric approach ensures that all our strategies revolve around delivering superior value and experience to our clients. This includes tailored offerings that cater to specific market demands, personalized customer service, and educational programs that empower our clients to make informed trading decisions.Through these strategic initiatives, we aim to overcome the current challenges and seize the opportunities they present, ultimately positioning ATFX as a global leader in the FX industry.ATFX aims to introduce innovative financial products and tools into its ecosystem. Could you provide some insights into the types of products or tools? Drew Niv: We will introduce both back-end and new customer-facing technology to give our users a better trading experience. Our focus is on rolling out technology that will enable ATFX to take on much tougher business from scalpers, scalper EAs, copy traders, and other trading styles that are often disliked by many firms. This will allow us to profit from these types of businesses while maintaining favorable IB/payout structures.The enhancements will enable ATFX to target underserved sections of the market. For example, new advanced trading tools could offer greater precision and efficiency for high-frequency traders while providing a robust infrastructure that securely and swiftly supports diverse trading strategies.As mentioned, we will be introducing innovative products like AI-driven analytics tools that help traders make informed decisions by providing real-time insights and predictive analytics. We are also working on integrating blockchain technology to ensure greater transparency and security in transactions. Our goal is to create a comprehensive ecosystem that caters to various trading needs while pushing technological boundaries.In doing so, we aim to enhance user experience and build a more inclusive and dynamic trading environment. This ongoing development is part of our commitment to leverage state-of-the-art technology to elevate financial trading standards and make our platform a leader in innovation.About ATFXATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities, including the UK's FCA, Cypriot CySEC, UAE's SCA, Australian ASIC, and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides exceptional trading experiences to clients worldwide.For further information on ATFX, please visit the ATFX website: https://www.atfx.com. This article was written by FM Contributors at www.financemagnates.com.

A new study by eToro reveals that retail investors are heavily invested in financial services stocks and cash assets while eyeing cryptocurrency as a change for the future. Cash still dominates, with 69% of investors holding it in their portfolios. When asked which assets they would most like to add to their portfolios, respondents typically indicated that these would be digital tokens.Retail Investors Favor Cash Assets and Financial Services StocksCash is held by 69% of respondents, while stocks are in second place, with 49%. Financial services stocks dominate retail portfolios, with 61% of surveyed investors holding positions in the sector. Technology and energy follow at 40% and 35% respectively. This trend reflects the recent outperformance of energy and tech stocks, as well as expectations for financial services to gain momentum in the coming months.The visible preference for cash is likely driven by persistently high interest rates, with many major economies offering attractive 5% risk-free savings rates. This also leads to considerable interest in domestic bonds, held by 34% of respondents. Every fourth investor also focuses on commodities and FX products."While markets have continued to deliver for investors in 2024, the widespread availability of highly attractive savings rates means that cash will remain the dominant asset class amongst global retail investors, at least for a few more months,” eToro analyst Sam North commented on the findings.Tech and Crypto Seen as the FutureLooking ahead, retail investors see technology and cryptocurrency as the most promising sectors for future investment. Eighteen percent of respondents plan to increase their tech investments, while 15% view crypto as their top priority going forward.This contrasts with another survey by eToro from a few months ago, in which every fourth respondent suggested that they were moving away from big tech giants, selling their shares and reducing exposure.The study also revealed significant regional differences in investment intentions. Investors in the UK and the US are more focused on cash assets, with 25% and 19%, respectively, prioritizing this asset class. In contrast, German and Spanish investors are more bullish on cryptocurrency, ranking it as their top investment priority.These divergent trends align with varying crypto ownership rates across countries. In Spain and Germany, 38% and 32% of retail investors hold cryptocurrency, compared to 25% in the UK and 27% in the US.As central banks begin to cut interest rates, with the European Central Bank recently leading the way, the investment landscape may shift. North suggests this could tip the scales "more in favor of equities and other asset classes like real estate" in the coming months.The Retail Investor Beat (RIB) survey, conducted by trading platform eToro, provides insights into the investment preferences of 10,000 retail investors across 12 countries.Last week, the popular retail trading platform renewed its sports sponsorship with Czech Football Club SK Slavia Prague. Thanks to the renewal of the agreement, the eToro logo will be featured on the front of the players' match jerseys for the fourth consecutive season. This article was written by Damian Chmiel at www.financemagnates.com.

OctaTrader's ideation centre Octa's mission as a global broker is to make trading more accessible and understandable. Catering to the most popular demands of the traders' community, the Octa team has enhanced its proprietary trading platform, OctaTrader, by adding Space, a new toolkit in the OctaTrader ecosystem. Space is a customisable analytics hub built into the OctaTrader interface as a curated news feed. This feature is designed to empower traders by offering them timely market insights for each of their favourite tradable instruments. Leveraging modern technology to create a friendly and accessible trading environment, OctaTrader focuses on providing a low entry threshold to less experienced traders and facilitating the overall trading experience with data-driven tools. Space perfectly aligns with this goal, offering a great way to validate and substantiate your trading ideas. Now, suppose you read the financial news, analyse the current market situation, and come to certain conclusions about the upcoming market movements. However, you lack practical trading experience and still have doubts about whether it is time for you to create an order or wait until a better opportunity arises. In other words, you need a second opinion. This is where Space comes in handy: it offers timely and personified analytical posts from Octa's experts with trading ideas relevant to your trading style. This toolkit allows you to validate your ideas, make necessary adjustments, and copy the insights you like into your chart. Not by tips aloneIn addition to expert predictions, Space offers valuable educational materials that allow you to step your trading knowledge up a notch and start thinking about trading in terms of time-proven historical patterns and sound logic. With Space, OctaTrader offers a more effortless, data-driven trading experience and helps you save time and cognitive effort, translating into higher efficiency and better results.Octa's team has researched traders' preferences and behaviours. By implementing best global practices and covering the most popular traders' demands, Octa has made its trading platform into a comprehensive solution that combines all stages of the traders' journey: financial transactions, education, trading, analysis, networking, and social interactions. OctaTrader provides a smooth workflow across all devices so that you can pick up your trading session on mobile from where you left it off on your desktop. Moreover, with OctaTrader, you won't need to switch between tabs or applications: the whole trading journey is now encapsulated within a single solution. Putting theory into practiceAs a customisable news feed, Space consists of numerous channels, each dedicated to a popular tradable asset, including currency pairs. Thematic channels also feature specific market trends that have caught your attention recently or promising patterns that seem worth looking into. Space contains a continuously updated library of expert-curated educational content with a focus on various methods of technical analysis, including candlestick patterns, resistance and support lines, trends, and chart figures, as well as their specific features and use cases. Clients can tap into either fundamental or technical analysis feeds to validate their decisions and strengthen their understanding of market concepts and mechanisms. With market signals, rich educational content on each of the popular instruments, and feedback on analytical posts from other users, Space creates an engaging field of opportunity where you can learn, explore, and make trading decisions with confidence.For those willing to immediately apply market insights to their charts and open orders based on the ideas from the feed, Space has the Trade button—it allows you to transfer the idea from the feed to your chart in a couple of clicks. After that, you can set up Stop Loss and Take Profit orders right on the miniature graph—and create a safety net for yourself using this popular risk management tool.Spacemakes an emphasis on facilitating the decision-making process, making it more data-driven, transparent, and efficient. This toolkit allows you to improve on your strategies and minimise financial risks while trading with confidence and precision.ConclusionConsistent trading success is based on three main elements: solid theoretical knowledge of general market concepts and mechanics, extensive hands-on experience, and confident decision-making. OctaTrader, Octa's all-in-one trading ecosystem, provides access to all three via Space, the customisable ideation hub built into the OctaTrader application.A continuously evolving trading solution, OctaTrader regularly receives updates aimed at covering more ground in terms of functionality and proactively responding to the demands of Octa's clients. To help traders make the most of OctaTrader's analytical features, Octa has recently introduced the new leverage option of 1:1000, which is currently available to all clients. The new leverage option offers greater market opportunities, allowing you to open larger positions with a smaller capital investment. About OctaOcta is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 42 million trading accounts. Octa's free educational webinars, articles, and analytical tools help clients reach their investment goals.The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.Octa has won more than 70 awards since its foundation, including the ‘Best Educational Broker 2023’ award from World Business Outlook and the ‘Best Global Broker Asia 2022’ award from International Business Magazine. This article was written by FM Contributors at www.financemagnates.com.