WhatsNewForex

Libertex Continues To Sponsor James Rodriguez

Libertex

Libertex, a subsidiary of the well-known Russian Forex Club Group, has announced that it will continue its partnership with the football player James Rodriguez. This partnership has been initiated in the year 2016.

Libertex is licensed in Cyprus and the EU via CySEC CIF regulated Indication Investments Ltd.

Benefits for both sides

Bayern Munich and Colombia soccer star will continue lending his image to the company’s future promotional campaigns and its website.

“Collaboration with James, who is taking part in the World Cup in 2018 in Russia with the Colombian national team, will help strengthen the position of the Libertex brand in all of the markets which our company covers,” said Matvey Krivoshein, Marketing Director of Forex Club.

“James is one of the most popular and successful football players in the world. His image is great for emphasizing the key advantages of the Libertex trading platform, which is used by more than 2.2 million people around the world,” said Michael Geiger, CEO of Forex Club.

“To achieve success in professional football, you have to hone your skills every day and keep pushing forwards towards your goal. In the world of finance, the same rule applies and for that I’m happy to continue my association with Libertex,” said James Rodriguez.

Details of how much Rodriguez is being paid by the company were not disclosed.

About Libertex

Libertex is a brand name that was rolled out by Forex Club International Ltd. and Indications Investments Ltd in 2015. Besides CySEC’s oversight of Libertex’s operations, the broker is also a member of The Financial Commission (Finacom).

Libertex uses a web-based trading platform, which is convenient for traders, as they do not have to download or install any trading software. It offers only two types of trading accounts, Standard and Demo trading account.

Libertex does not charge their traders any spreads. Instead, traders need to pay a commission on the trades that they have executed.

OANDA Caters To Institutional Traders With OANDA Pro

Oanda Pro

OANDA, a global leader in retail foreign exchange markets founded in 1996, is now making an effort to step into the institutional segment with the launch of OANDA Pro.

OANDA Pro is tailored to meet the advanced requirements of the professional FX traders, from hedge funds and brokers to CTAs and proprietary trading firms. It will be powered by Currenex, which is a leading provider of high-performance technology and deep pools of liquidity.

Possibilities with OANDA Pro

OANDA Pro delivers liquidity from numerous streaming banks, non-banks and through the Currenex anonymous ECN into a single consolidated Central Limit Order Book. Institutional clients are now going to be able to execute their trades through a fully customizable user interface, and access a wide range of features, such as algorithmic trading, full market depth view or advanced order types.

“Over the course of our 22-year history, we’ve combined our passion for innovation with ground-breaking technology to better serve our retail clients. Now for the first time, the launch of OANDA Pro enables us to also cater to the more sophisticated needs of institutional traders, providing them with access to a fully customizable platform, deep liquidity pools and real-time pricing that ensures a comprehensive view of the market at all times. We’re delighted to be partnering with Currenex to deliver an award-winning institutional solution to our professional FX traders,” said Vatsa Narasimha, President and CEO of OANDA Corporation.

“We are very pleased that OANDA has chosen Currenex to provide the technology and liquidity aggregation for their new institutional offering. With OANDA Pro, OANDA clients will be in a position to leverage the significant investments Currenex has made to develop a new advanced and intelligent HTML5 GUI. We look forward to continuing to work closely with the team of OANDA to help them and their client base take full advantage of all our solutions,” said James Reilly, Head of Currenex.

It is important to emphasize that the institutional forex trading accounts powered by Currenex are held by OANDA Corporation.

Etoro Raises $100 Million In Series E Funding

eToro, a social trading network, unveiled it succeeded in raising $100 million in a Series E financing round led by Chinese, Korean and Japanese investors.

The funding round was led by China Minsheng Financial, and other participants were SBI Group, Korea Investment Partners and World Wide Invest.

Where will the funds go?

The funds raised will be used for various blockchain ventures, expansion to new markets and further development of eToro’s social trading platform.

In eight funding rounds, the social trading provider has raised around $162 million. The company, which advanced significantly after adding cryptocurrencies to its trading platform is now valued at $800 million. This is not the first time eToro has raised outside capital, as the company raised $27 million from China’s Ping An and Russia’s Sberbank in December 2014.

“eToro was built with the vision of democratizing financial markets by making trading and investing accessible to all. Since launching, we’ve seen strong customer demand for our approach and today’s announcement is an important milestone in marking the success that we’ve had and signalling a new period of growth and expansion for our business,” said Yoni Assia, CEO and founder of eToro.

He added that this round of investment will be critical in helping them to further develop their technology infrastructure to support rapid growth that they have recently experienced.

About eToro

Established in 2007, eToro is known as one of the fastest-growing and most successful brokerages operating currently across the globe.

The brokers employs more than 500 workers and has more than 9 million registered users. The company offers hundreds of CFDs on currencies, stocks, indices, and commodities.

Etoro provides three ways to access the markets – by manually investing in more than 1,500 instruments across six different asset classes, by automatically copying the trades of other traders and by using their CopyFunds to access unique investment portfolios.

Top 5 Most Traded Currencies

Foreign exchange market is the biggest and most liquid market that exists at the moment. Forex market connects thousands of banks, companies, governments, and traders into a single group, enabling them to conduct their business on an international level.

Like any other market, forex deals with exchanging goods – in this case these goods are currencies. In this article we bring you top 5 most tradable currencies, and thus most popular.

US dollar

Also known as greenback, the US dollar is the home denomination of the world’s biggest economy – the United States. US dollar is the most traded currency on the planet, as it acts as the unofficial global reserve currency, held my almost every central bank. It is especially interesting that US dollar is used by some countries as an offical currency (as a replacement to local currency), a practice called dollarization.
Three main groups of factors that influence the US dollar are: supply and demand, sentiment and market psychology and technical factors.

Euro

Euro is the world’s second most traded currency, and is used by approximately 338 million people every day. The euro was introduced on January 1, 1999 as a virtual currency for cashless payments and accounting purposes. Banknotes and coints were launched three years later, on January 1, 2002. The European Central Bank is in charge of monetarz issues within the EU.

Japanese Yen

The Japanese yen is the third most commonly traded currency in the world.  The central bank that stands behind Japanese yen is the Bank of Japan.
The Japanese yen is considered a safe haven currency, mainly due to Japan’s advanced economy with a well-educated workforce.

British pound

The British pound, also known as sterling, is the fourth most traded currency in the forex market. The UK did not accept euro as its official currency, it kept the pound for a variety of reasons, such as historic pride and maintaining control of domestic interest rates.
Due to its high value in comparison with its peers, the pound is also a significant currency benchmark for many nations and acts as a very liquid component in the forex market.

Swiss Franc

Swiss Franc is the official currency of Switzerland and it is also used in Liechtenstein.
The Swiss franc is also considered a safe haven currency, due to the stability of the Swiss government  and its financial system. The country’s independence from the EU makes it immune to any negative political and economic events that may occur in the region.

eToro Enriches Crypto Trading Offering With Stellar

eToro Enriches Crypto Trading Offering With Stellar

eToro, a European social trading and multi-asset brokerage company, has added Stellar to its platform, augmenting the number of cryptocurrency assets to eight.

The move is the consequence of recent buzz around altcoins, as investors are seeking new investment opportunities.

Cryptocurrency offering at eToro

Besides Stellar, eToro offers Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic and Dash trading.

“If 2017 was the year of Bitcoin, 2018 will be the year of altcoins. As investors seek new opportunities and diversification within their portfolios, attention will shift away from the mainstream cryptos towards new challenges in the market. We’re constantly identifying and assessing new concepts as they emerge and are committed to bringing the best crypto assets onto our platform for our users to invest in. We’re excited to have Stellar now available and we look forward to seeing how the market develops in 2018 following a very successful 2017 for the crypto community,” said Yoni Assia, co-founder and CEO at eToro.

In July 2017, eToro announced that users on its platform would own the actual asset, rather than a CFD. This option has been enabled due to increased interest among users to buy and hold the asset, rather than speculate on price movements.

“The development of blockchain technology is bringing new innovations to the market almost daily. Platforms such as eToro are an essential component in bringing together innovative project and early-adopters. We are delighted to be working with a leading crypto platform to make Stellar available more widely,” said Jed McCaleb, co-founder of Stellar Development Foundation.

Stellar will be also added to eToro’s Crypto CopyFund, which uses CFDs to enable investors to diversify across all available cryptocurrencies with just one click.

About eToro

Founded in 2006, eToro is an Israeli social trading broker regulated by FCA and CySEC. The broker has more than 6 million users in over 170 countries. The clients of the company can trade in stocks, currencies, indices, ETFs, commodities and cryptocurrencies.

This pioneer of online social trading requires the minium first deposit from $500 to $100,000, depending on your region and country regulations.

AvaTrade Inks Sponsorship Deal With Manchester City

AvaTrade Inks Sponsorship Deal With Manchester City

AvaTrade, the leading forex and CFD broker, has entered into multi-year partnership agreement with English Premier League football club Manchester City.

The world-famous football club could help AvaTrade expand its global reach and further publicize its name as a retail FX and CFD provider.
Benefits for both sides
According to the terms of the agreement, the football club will promote AvaTrade’s brand name online and at live events.

“We are delighted to announce this partnership with AvaTrade. AvaTrade and Manchester City are both committed to empowering the lives of our traders and fans, respectively, and giving them the best possible experience. Both organizations share a passion for being innovative and leading the way in our industries. We are looking forward to working with AvaTrade for this season and beyond,” said Damian Willoughby, Senior Vice President of Partnership at City Football Group.

Part of the arrangement will enable AvaTrade to reward its clients and affiliates through special offers and promotions. Some of the awards will be Manchester City merchandise, as well as VIP trips to the club’s Etihad Stadium.

“A true leader constantly seeks new mountain tops to conquer. Our partnership with Manchester City sets a new bar in the global financial industry and furthers our ongoing commitment to investing in excellence. We are very excited as to what the future may bring as part of this fantastic collaboration between two leading brands at the top of their game,” said Dáire Ferguson, CEO at AvaTrade.

About AvaTrade

Established in 2006, AvaTrade is among the top Forex brokers in the world with offices in Dublin, New York, Milan, Sydney, Tokyo and other locations.

AvaTrade is fully regulated and licensed in the EU and the British Virgin Islands, with additional regulation in Australia, South Africa, and Japan.

The minimum initial deposit of AvaTrade is $250. Maximum leverage is 400:1. AvaTrade offers more than 250 financial instruments including forex, commodities, indices, stocks, vanilla options and cryptocurrency trading.

Bitcoin Nosedives Below $9000

Bitcoin Nosedives Below Nine Thousand Dollars

Bitcoin, the world’s first and largest cryptocurrency, fell 12 percent to $8,954.41 on the first day of February, after losing 30 percent of its value in January.

As we already know, Bitcoin is never lonely when it falls, so other cryptos like Ripple and Bitcoin cash have also suffered double-digit declines in the last 24 hours.

After reaching a record high of $19,511 on December 18, Bitcoin has lost more than a half of its value.
The plunge came after comments from India’s finance minister and Facebook’s ban of all ads promoting cryptocurrencies.

India takes a hard line on cryptocurrencies

The Indian government is about to ban the use of Bitcoin and other cryptocurrencies for payments, as it does not consider cryptocurrencies as legal tender.

“The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing ilegitimate activities or as part of the payment system,” said Arun Jaitley, India’s finance minister.

On the other hand, the Indian government embraced blockchain, unveiling that it will explore the use of blockchain technology proactively for ushering in digital economy.

China is another country which started a serious bitcoin suppressing, which is quite paradoxical considering the fact that China is home to the world’s biggest community of Bitcoin miners.

Facebook bans cryptocurrency advertisements

Besides Indian government, one of the main factors which influences Bitcoin’s fall is Facebook’s decision to ban all ads that promote cryotocurrencies.

“Sentiment towards cryptocurrencies is turning soar with negative headlines pouring out from left, right and centre. Concerns that Facebook is banning ads and major crypto exchanges shutting down have really silenced the hype and some people are probably having second thoughts about investing their hard-earned cash into digital currencies,” said Fawad Razaqzada, an analyst at Forex.com.

Ads that violate new policy will be banned on Facebook’s core app, but also in other places where Facebook sells ads, including Instagram and its ad network – Audience Network.

CBOE Holdings Finalizes Purchase Of Bats

CBOE Holdings, the largest U.S. options exchange, finalized its $3.4 billion takeover of cash equities specialist Bats Global Markets.

The deal, which was announced in September last year, brings under one roof several US derivatives and equities exchanges, a European equities exchange and trade reporting facility and Hotspot.

Significance of acquisition

The new CBOE emerges with an estimated $10 billion market capitalization, which is close to the levels of NASDAQ stock exchange.

“Over the past several months we have been hard at work developing a seamless integration plan, and we are excited to finally bring together our two remarkably talented and innovative teams,” said Edward Tilly, CBOE Holdings Chairman and Chief Executive Officer.

BATS, which was launched in June 2005, offers a variety of successful electronic stock trading products and platforms used by institutional investors and other financiers.

CBOE Holdings is expected to see $50 million in cost synergies, with that number rising to $65 million in five years. The savings will be a consequence of CBOE’s migration to Bats’ trading platform and expense cuts.

Additionally, CBOE will launch new trading products and build upon Bats’ European network to expand its presence.

Leadership team

CBOE’s CEO Edward Tilly will head the combined company, while Chris Concannon (formerly CEO of BATS) will become president and chief operating officer.
CBOE’s leadership team also includes:

• Alexandra Albright, Chief Compliance Officer
• Alan Dean, Chief Financial Officer and Treasurer
• Joanne Moffic-Silver, General Counsel and Corporate Secretary
• Stephanie Klein, Chief Marketing Officer
• Mark Hemsley, President, Europe
• John Deters, Chief Strategy Officer and Head of Multi-Asset Solutions
• Chris Isaacson, Chief Information Officer
• Carol Kennedy, Chief Communications Officer
• Andrew Lowenthal, Head of Global Derivatives
• Greg Hoogasian, Chief Regulatory Officer
• Pamela Culpepper, Chief Human Resources Officer
• Bryan Harkins, Head of U.S. Equities and Global FX

To find out more about the leadership team, visit the new CBOE-BATS integration website www.cboe.com/BatsIntegration.

FXCM To Receive Up To $500 For Each US Client Account

FXCM To Receive Up To Five Hundred Dollars For Each US Client Account

Forex brokerage GAIN Capital has agreed to pay either $250 or $500 for each client it acquires from Forex Capital Markets, which is exiting the US markets due to regulatory measures.

FXCM was forced into a quick sale of its US operations after the regulators discovered that the company traded against its customers for several years while presenting its model as a ‘No Dealing Desk’ order execution model.

What will FXCM receive?

The exact amount FXCM will receive depends on how many FXCM clients actually sign up and trade with GAIN Capital and its Forex.com unit during the first 153 days following account transfer.

For active clients who execute at least one new trade during the first 76 days of the period, FXCM will receive $500 per account. On the other hand, for clients who execute at least one new trade during the period from the 77th day through the 153rd period, GAIN Capital will pay $250 per account.
The closure of the transaction depends on receipt of necessary regulatory approvals.

The retail broker has been permanently barred from the industry and has agreed to pay a $7 million fine.
Considering FXCM’s business overseas, companies like FXCM UK and FXCM France are using social media channels to try to assure customers that the business will continue as usual, no matter what has happened in the US.

No access to apps from FXCMApps.com

FXCMApps.com is FXCM’s online marketplace, which has been active since its official roll out in May 2012.

FXCMApps FXCM To Receive Up To Five Hundred Dollars For Each US Client Account

After several years of existence, the website now displays a short message:

“Apps from FXCMApps.com are no longer available for U.S. Customers.”

This comes as no surprise considering the developments around FXCM over the past days. US customers are not able to access these apps, but they are still available to FXCM customers from other jurisdictions. The offering includes MetaTrader 4 apps, Trading Station desktop apps and standalone apps.