Fazzaco Weekly Digest: Analysis of MetaTrader 4/5's Return to AppStore; OANDA Launches New Operation in the EU; “Overnight Collapse” of SVB

Take a look at the latest happenings in last week's news digest from around the forex, fintech and crypto industry. Here are some of the top headlines from last week.

1. OANDA Announces Launch of New Operation in the EU​

OANDA Global Corporation ("OANDA"), a global leader in online multi-asset trading services, currency data and analytics, announced the launch of new operations in the EU.

This is the result of a strategic change aimed at refocusing OANDA's retail trading operations in the EU around the ability to offer a much wider range of asset classes.

2. What You Need to Know About MetaTrader 4/5's Return to AppStore

Last week (Mar 7), Fazzaco reported that MetaTrader 4 and MetaTrader 5 (MT4/MT5), the trading software with the highest market share in the forex industry, has returned to Apple's App Store after a six-month hiatus. New users can download these two applications directly on their iOS devices, while existing users can receive updates for the applications.

According to the MT's developer, MetaQuotes' announcement, "During the lengthy process of restoring the Apps back in the App Store, MetaQuotes has communicated to Apple extended explanations surrounding operational technicalities and provided further insights as requested. All matters have been resolved and the iOS applications have been reinstated to the store."

3. Exclusive: AUS Global Welcomes Mohammed Taha as Sales Director​

Fazzaco learned that AUS Global, one of the world's leading online trading brokers, has selected Mohammed Taha, an experienced Technical Analyst with a demonstrated history of working in the capital markets industry, to assume the role of Sales Director. 

Based on his LinkedIn profile, Taha currently also serves Foreign Exchange Market, a global decentralized or over-the-counter (OTC) market for the trading of currencies, as Technical Analyst. He has been with the company since February 2014.

4. Listen to the Article: SVB Goes Bust Overnight, What Startup Brokers and Fintechs Need to Do?

Silicon Valley Bank (SVB), founded in 1983 and located in Santa Clara, California, was once the cradle for technology startups across the United States. However, last Friday (March 10, EST), the bank that once had been on Forbes' annual list of America's Best Banks for five consecutive years, suddenly went belly-up and was then taken over by the Federal Deposit Insurance Corporation (FDIC)​, becoming the largest bank to collapse in the United States since the 2008 Financial Crisis. 

This whole "overnight collapse" drama caught many off guard, including OANDA, FXCM, and IG Group, who provide FX trading services in the United States, causing panic in global financial markets.

In this article, Fazzaco tries to uncover the truth behind SVB's sudden death and how startup brokers and fintech companies can cope with the situation.

5. CySEC Supervises 837 Entities at the End of 2022, Approves 86 Applications for Licenses​

The Cyprus Securities and Exchange Commission (CySEC) has released its annual summery for the year of 2022, unveiling that the number of supervised entities totaled 837 at the end of 2022, growing 3.9% from 2021's 806.

Compared to 2019, before the outbreak of the pandemic, the above figure was 12% higher. Around 100 new applications are under review pending licensing at the end of 2022.

6. US Brokers' Retail FX Deposits Recovery in January 2023, Only Interactive Brokers Saw a Decline

Retail FX deposits at brokerages in the US, one of the most developed investment markets worldwide, saw a rise in January 2023, the Commodity Futures Trading Commission (CFTC) data showed.

The CFTC has published its monthly report, which covers data for FCMs that are registered as Retail Foreign Exchange Dealers (RFEDs) and those included as broker-dealers that hold retail Forex obligations in the United States, namely Gain Capital Group LLC, IG US LLC, Interactive Brokers LLC, OANDA Corporation, CHARLES SCHWAB Futures & Forex LLC and the newest comer Trading.com Markets.

7. Binance to Halt Sterling Deposits and Withdrawals After Losing UK Partner​

Crypto exchange Binance is halting sterling deposits and withdrawals after Paysafe, its partner for the service, cut it off.

In an email to customers, Binance says it will suspend sterling deposits and withdrawals via card and Faster Payments from 22 May.