Fazzaco Top 10 Articles of 2022: A Summary of Industry Trends and What's Behind
The year 2022 was immersed in a pool of shocking news, from the bankruptcy of Celsius, which performed as a prelude to a prolonged period of "cypto winter", and the removal of MetaTrader 4 and 5 from Apple's App Store, which could revolutionize the online trading industry, to the latest fall of FTX, which sent strong shockwaves across the community. At Fazzaco, you can get a deeper look at all these important news.
The following are the 10 most popular articles of the year so far. We hope they will continue to help readers who are looking to track market trends and explore potential business development directions.
3 Reasons behind MT4/5 Removal from App Store!
On September 24, the widely accepted forex and CFD trading platform among online forex traders, MetaTrader 4 and 5 were removed from Apple's App Store. As for the reasons for the removal, there are three speculations:
the Forbes article "How One Man Lost $1 Million To A Crypto 'Super Scam' Called Pig Butchering" led to an increasing complaints from users against MetaTrader. Soon, Adam Dema, Apple's spokesperson announced that Apple is carrying out an investigation on MetaQuotes, and they will take every measure necessary to protect Apple users.
In the same Forbes' article, the author pointed out that some scammers could somehow rig the prices on MT, fabricate untrue account balance, profits and losses, with the help of illegal plug-ins. Yet, there were no regulations whatsoever carried out by MetaQuotes.
People have been suspicious about who the beneficiary really is behind the MT apps. In particular, the Russia-Ukraine war that happened this year escalated the tension between the West and Russia, and some couldn't help but wonder whether are politics behind Apple removing the apps.
The Untold Truth behind FTX's Bankruptcy: A Peek into the Crypto Chaos
When FTX, a once gigantic and leading firm of the cryptocurrency business dies, rumors that feed on the blood and flesh of the dead flourish like the organisms arising from the fall of a whale. At the moment shortly after FTX's bankruptcy announcement, Fazzaco has organized all the gossips and hearsay in an attempt to provide a reliable truth behind this crisis.
In recent years, the cryptocurrency industry has been in turmoil. Behind the crazy hype, the blockchain-based industry is no longer purely technological. With all the money pouring in, virtual coins are now labeled with greed. Different types of new coins with a random story keep popping up everyday and becoming a trend. In a lot of times, cryptocurrencies are a tool of a group of people to rob money from another group of people. This winter will be extremely hard for the cryptocurrency industry as the ripple effect of the FTX bankruptcy affects all of us.
As the financial industry develops and women become more educated, more of them are pouring into the industry, a so-called "male battleground." We are delighted to find that some females have climbed to the top of a financial company, getting a seat in the core fields occupied by men and becoming a force to be reckoned with in company management and even industry growth. Brokers play a vital role in the current development of the financial industry. Let's take a look at the new female leaders of 15 brokers such as CMC Markets and BDSwiss.
Top 5 Proprietary Trading Software Developed by Leading Forex Brokers
Forex brokers tend to provide multiple trading software for retail traders as forex beginners and veterans may have different demand and preferences. Although MT4 dominates in the trading software market, many forex brokers begin to develop their own to meet clients' needs.
Moreover, the removal of MT4 and MT5 from Apple app pushes forex brokers to look for alternatives solutions and give more thought to developing proprietary trading platforms.
Not so many forex brokers are strong enough to develop their proprietary technology as it requires a professional IT team for to launch, iterate, and update a trading platform. Here are some of the top proprietary trading software for your reference.
Client Profitability Statistics: Choose a Forex Broker Where You Are More Likely to Succeed
The United Kingdom's Financial Conduct Authority (FCA) requires firms that offer CFDs and CFD-like options to retail consumers to provide a standardised risk warning, telling potential customers the percentage of the firm's retail client accounts that make losses. Since July 2021, Fazzaco has been releasing monthly clients profitability data of brokers regulated by the FCA.
Fazzaco has collected a total of 28 retail brokers' data from July 2021 to June 2020 and calculated the mean and variance of these data. Saxo Bank enjoyed a relatively lower loss ratio among these brokers for the 12 months, with an average losing rate of 63.75%. By contrast, the highest loss ratio falls on Capital Index, where nearly 85 out of every 100 clients made losses and only 15 were profitable.
Is Social Trading the Future of Investment?
Social trading segment is prospering, as corresponding trading solutions and and platforms are emerging to cater to retail investors' increasing demand. Over the last few months, multiple financial firms, including Germany-based bank comdirect, Brokeree Solutions, the technology provider for multi-asset brokers and Vantage, the multi-asset trading platfrom, have launched new social trading offerings successively.
Be that as it may, the benefits of social trading still outweigh its limitations. This trading model provides clear advantages for both retail and professional investors, and brokers as well.
Blue Ocean: Why Do PSPs Target Latin America?
From perspectives of payment service providers (PSPs), Latam is a breeding ground for successful entrepreneurship, because developing countries in the region try to seize the opportunity brought about by crypto enthusiasm, and people there resort to crypto assets as an alternative to fiat currency.
The whole Latam region is embracing crypto currency, except for Mexico that is relatively hardline against crypto currency, is all endeavoring to develop crypto-related economy and improving laws and regulation. High inflation also forces local residents to seek other investment approaches to keep their asset safe. That is how crypto assets circulate in the market and during people's daily life. It is Latam's enabling environment and wide acceptance to crypto assets that attract PSPs to step in.
Cryptocurrency Regulations World Map - EU
While roughly 17% of Europeans use cryptocurrencies, a figure similar to that of other affluent countries, they fall below the global average of around 23%. Adoption rates were 18% in the United States and 20% in Australia.
35% of Europeans expressed their concerns on security, and 34% said they didn't know how to acquire or store cryptocurrency. The number of Europeans who stated it was because they didn't trust it was 33%, which was greater than in other regions of the world.
While 2021 was a watershed moment for cryptocurrency acceptance in Europe, 2022 may be slower. Only 7% of individuals in Europe who have not yet purchased cryptocurrency intend to do so, compared to 21% overall.
A Practical B2B Guide: Locating the Best KYC Solution
A satisfactory KYC solution allows businesses to smoothly manage the customer identity verification, automatically rank high-risk customers, and reduce the chance of human error. So, how to locate the best solution? To answer that, Fazzaco recommends scoring it from the following dimensions (out of 10 points), hoping to help those who are in charge of compliance and client onboarding.
Dimension 1: Can it free you from a lot of paperwork? (5 points)
Dimension 2: How automated is customer onboarding? (2 points)
Dimension 3: What is the coverage of the software? (3 points)
The Complete Guide to Forex Marketing: Channels to Improve Your Brand Influence
Every enterprise strives to maximize brand exposure and increase brand influence. Even Coca cola and Kentucky have to advertise from time to time to keep their brand awareness and increase customer loyalty. There is no denying that forex brokers and fintech companies are in need to advertising, too.
In a sense, advertising is an art. Human brains are hardwired to hate advertising. Good advertisement and marketing should display at an appropriate time to solve an appropriate issue to an appropriate degree. Then here comes a question: Where can they display their ads?
Fazzaco's in-depth articles not only cover analysis of forex brokerage, trading software, payments, crypto business, industry talent and marketing, but also provide real-time interpretation of market hotspots. Follow fazzaco to be up to date on the most cutting-edge thinking.
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