Fazzaco Weekly Digest: 36 Retail Brokers' Profit Data in January; NAGA Group in Talks over Merger; Doo Group Secures HK Licenses

1. Exclusive: Clients Profitability of 36 Retail Brokers, Average Profit Margin Drops to 26.01% in January​

Fazzaco has collected a total of 36 retail brokers' data from January, 2023 to see the dealings of brokers and retail traders.

As you can learn from the chart, the average losing rate for these 36 brokers came in at 73.99%. That is to say, 26.01% of retail investor accounts make profits when trading CFDs with these providers. 

2. NAGA Group in Talks with a Global Broker over Possible Merger

NAGA Group, a German-based fintech company that operates a regulated Neo-Broker, Neo-Banking app and Crypto platform, unveiled that it is in the discussion of a possible merger with a global broker, according to the group's formal statement.

The statement stated: "The Naga Group AG is in discussions to pursue a potential strategic transaction with a multi-country brokerage firm, potentially in the form of a merger of the two companies. The transaction is subject to due diligence and is expected to be finalised subject to customary conditions precedent and regulatory approvals, and to close in Q4 2023."

3. Fazzaco Welcomes CPT Markets as the Deluxe Dinner Sponsor of Fazzaco Hall of Fame Award Ceremony 2023​

Fazzaco is proud to announce CPT Markets, a leading multi-asset broker providing easy access to global financial markets, as the Deluxe Dinner Sponsor of Fazzaco Hall of Fame Award Ceremony 2023.

CPT Markets has a truly international team of experts committed to enabling investors to enter financial markets with strict regulation, transparent transaction prices and outstanding customer support services.

4. Omar Khaled Leaves Amana After Ten Years, Joins Multibank Group as Marketing Director

Fazzaco learned that Omar Khaled has announced his departure from the role of Marketing Director at Amana, a leading online neo-broker in the MENA region.

After spending nearly over ten years at the firm, Omar unveiled via social media that his tenure in the company came to an end. In addition, he also announced that he has joined MultiBank Group, a FX and CFD broker that has moved its headquarters to Dubai from Hong Kong.

5. Doo Group Granted Type 4 and Type 9 Licenses from Hong Kong SFC​

Doo Group's subsidiary company, Doo Financial HK Limited (Central entity no.: BSM562), marks another milestone in its journey with the obtainment of Type 4 (Advising on Securities) and Type 9 (Asset Management) licenses (Central entity no.: BSM562) issued by the Hong Kong Securities and Futures Commission (HK SFC).

Upon obtaining the Type 4 (Advising on Securities) and Type 9 (Asset Management) licenses issued by the HK SFC, Doo Financial HK Limited is authorized to provide clients with the following services.

6. Integral Launches New Technology Solution Integral Digital, Taps into Crypto Space

Integral, an eFX trading technology provider, announced today the introduction of Integral Digital, a crypto technology solution designed for banks, brokers, and hedge funds.

The new offering is developed in collaboration with Mint Exchange Inc., a leading institutional crypto exchange, extends Integral's award-winning trading and client distribution platform to support cryptocurrencies and fiat-backed stablecoins. It is now available to both regulated and unregulated crypto businesses globally. 

7. Online Brokerage Monex Expresses Its Desire to Buy FTX Japan​

Monex Group Inc. is keen on the Japanese subsidiary of Sam Bankman-Fried's crumbled FTX crypto empire that's up for sale, according to the Tokyo-based online brokerage's chief executive officer. 

"Generally speaking, we naturally are interested," Oki Matsumoto said in an interview, in response to questions about FTX Japan. While Matsumoto didn't say if Monex is bidding for the business, the founder said it will be a "very good thing" if the number of crypto exchanges competing with his firm drops.