Fazzaco Weekly Digest: ASIC's Warning; BDSwiss Launches New Cent Account; GO Markets Launches Radex Markets

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

1. ASIC Warns Companies Against Engaging with Financial Influencers

The Australian Securities and Investments Commission (ASIC) has recently issued a warning notice, reminding companies to be mindful of the regulatory risks associated with engaging with financial influencers, commonly known as "finfluencers".

"For some listed companies, finfluencer collaborations may seem like a fast, effective way to promote issued securities to the next generation of young retail investors. However, companies should be cautious when engaging finfluencers — as part of their promotional initiatives generally, or in connection to corporate transactions,"ASIC stated.

"If you're approached by a finfluencer seeking to collaborate, or you're considering reaching out to one, make sure you do your due diligence as they may be contributing to your regulatory risks,"the regulator added.

2. BDSwiss Launches New Cent Account for Micro-Lot Trading

BDSwiss, a multi-regulated FX and CFDs broker, announced that it has launched its latest account option-the Cent Account, which is available for certain non-EU jurisdictions only. According to the press release, the new account type was created to further accommodate traders' needs.

With the new account, BDSwiss will offer its clients the opportunity to trade CFDs in micro-lots and nano-lots while maintaining access to the same competitive trading conditions, expert research, free analytical tools and flexible leverage.

3. GO Markets's New FX Brokerage Brand Radex Markets Goes Live

GO Markets, an award-winning Australian Forex broker and CFD provider, announced that it has launched a new forex broker called RADEX MARKETS, which is registered and licensed as a securities dealer in Seychelles.

RADEX MARKET is built with a very competitive setup, and flexibility to evolve with the ever-changing market, aiming to satisfy traders' needs in the wider financial investment fields. Clients are offered with a variety of financial products ranging from Forex and Metal to CFDs/Indices and the option to long or short Stocks in the form of Share CFDs.

4. ThinkMarkets to Alter Interbank Benchmark Rate for Calculating Overnight Interest

ThinkMarkets, a premium, multi-asset, online brokerage, yesterday announced that it will change the interbank benchmark rate used to calculate overnight interest as of 13 December 2021.

This is due to a number of current Interbank Offered Rates ceasing to exist, including London Interbank Offered Rate (LIBOR).  

5. eToro Expands Crypto Trading List with 4 New Additions

The FX and CFD broker eToro announced yesterday the extension of its crypto trading lineup with 4 new additions available on its investment platform: $CHZ (Chiliz), $SUSHI, $QNT and $AXS.

These new additions bring eToro's total crypto offering to 40 cryptoassets.

6. Integral Sees 12.5% MoM ADV Jump in October 2021

Integral, one of the leading foreign exchange (FX) technology providers, released the average daily volumes (ADV) across its platforms during October 2021. The company reported an ADV of $50.5 billion for the month.

"Integral's global trading network has been designed to meet the trading needs of the widest variety of buy-side FX market participants, including banks, brokers, asset managers, and hedge funds. Our clients leverage the deep and diverse FX liquidity available through our platforms within an integrated environment," the company stated.

7. Axi Launches Copy Trading Platform​

Fazzaco learned that online FX and CFD broker Axi has launched its new Copy Trading platform.

Now investors can download the platform or app and pick traders to follow as usual in similar copy-trading platforms. The user can also adjust trade size and risk according to their needs.