As if more anecdotal evidence was needed to show that the focus of the online trading industry should be on the giant and emerging economies of Asia, this week more firms revealed that they are looking eastwards for expansion. At the same time, new data from the American industry is showing weak traders’ performance while in Israel and Europe regulators are creating new hurdles for brokers.
FXCM France to be fined?
On Monday, French media outlets asserted that . Finance Magnates has learned that the AMF held a hearing with FXCM France the previous Friday that could have been the source of the reports.
The regulator could be looking into a fine and reimbursement for profits that FXCM France made from the losses of three unregulated money managers. The AMF’s position is that the brokerage should have known that these three were not permitted to carry out transactions on behalf of third parties.
Big in Japan
On Tuesday, it was revealed that . The move marks the fifth company office in the Asia-Pacific region after Australia, China, Singapore and Thailand.
The new head of MetaQuotes Japan, Tadao Mitsumoto, commented: “Our main task at the moment is to promote the MetaTrader Technology among local brokers and traders. It is much easier to achieve this now since the distance and language barriers are finally lifted.”
American performance report
On Wednesday, we offered an exclusive look at the . Among major individual brokers, only FXCM posted an increase in profitability, with the percentage of profitable traders falling at IB, GAIN Capital and OANDA.
The falling profitability didn’t dampen an overall increase in activity though. During the quarter, active accounts rose 2.4% to 94,031. Notable growth was seen at both FXCM and GAIN Capital.
Tradimo adopts an approach of openness and gamification
On Thursday, to publish their content on its online training website to offer courses in trading, investing and personal finance. The firm explains that selected users will be involved in quality control programmes and that the courses will also be peer reviewed.
It was also revealed that the team at Tradimo has busy been developing a mobile game-based app to engage an audience that has never contemplated trading before. The first version of the game, entitled Little Traders, will be showcased at the upcoming .
Amana Capital Targets Asia
On Friday it was reported that the Middle East-focused brokerage Amana Capital is entering the second phase of its expansion plan as it .
A company spokesperson shared that the company is currently looking to hire multi-lingual people in London, who speak languages other than English and Arabic, such as Chinese, Japanese, Malaysian, and more.
Israelis now require over $3 million to trade binary options
Staying in the Middle-East, it was also revealed this week that . To trade binary options you will need to be a “sophisticated investor”, which means having a net financial worth of over NIS 12 million and a trade volume of over NIS 10 million a month.
In addition to the limitations on binary options trading, the ISA is also reportedly planning to ban any trading on stocks that have not presented a prospectus to investors in Israel. This will make trading single stock CFDs very problematic if not impossible.
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