Fazzaco Weekly Digest: Biden Dropout Sparks Mixed Feelings in Markets; Client Account Profit/Loss Ratio of 32 Brokers in July; Largest Worldwide IP Outage Ever

Fazzaco continued extensively covering the latest trends in forex, crypto, fintech, and prop trading last week. In addition, we have published the client account profit/loss ratio of 32 brokers across July this week. Below are some of the most read news and articles from Fazzaco.

Biden Dropout Sparks Mixed Feelings in Markets​

Last week, the ongoing U.S. Presidential Election took the global headline once again as Joe Biden, the incumbent POTUS announced his dropout from the campaign on July 21.

MyFundedFX Reverses 50% Consistency Rule After Trader Backlash​

MyFundedFX, a US-based prop trading firm, has retracted its recently implemented 50% consistency rule following substantial opposition from its client base. The rule, introduced on July 3, 2024, was designed to limit the percentage of profits a trader could earn from a single day to 50% during the funded stage. It aimed to discourage high-risk trading strategies and promote more consistent trading over multiple days.

Ektifa Academy Announces Key Appointments in Gulf Region​

Fazzaco has learned that the Kuwait-based Ektifa Academy, an educational academy in trading, has announced three significant new appointments to strengthen its leadership team.

Client Account Profit/Loss Ratio of 32 Brokers in July 2024

Fazzaco collected the data of profit/loss ratio of client accounts from 32 brokers in July 2024. The brokers we have in this month-on-month comparison are the same from last month.

Largest Worldwide IP Outage Ever: A Mix of Reactions from the Financial Sector​

According to Microsoft, this outage, caused by an abnormal update distributed by its U.S.-based cybersecurity company CrowdStrike, affected at least 8.5 million devices and is now known as the largest worldwide IT outage in history.