Fazzaco Weekly Digest: Clients Profitability of 36 Retail Brokers for March; XTB Release FY22 Financial Results; FP Markets Adds cTrader

1. Exclusive: Clients Profitability of 36 Retail Brokers, Max Loss Hits 88.98% in March​

Fazzaco has collected a total of 36 retail brokers' data from March 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 73.89%. That is to say, 26.11% of retail investor accounts make profits when trading CFDs with these providers. 

Blackwell Global ranks number one for 56.67% winning ratio. FXOpen is in second place with 40% winning rate. Other brokers in the top 5 are also notable: Swissquote (38%), Darwinex (36%) and City Credit Capital (35.02%).

2. CySEC Revokes ICF Membership of Three Investment Firms

The Cyprus Securities and Exchange Commission (CySEC) announced yesterday the withdrawal of the Investment Investors Compensation Fund (ICF) membership of three members, pursuant to paragraph 6 of CySEC’s Directive DI87-07 for the Operation of the Investors Compensation Fund (the Directive).

Here are the three members: Inveza Capital Ltd, F1Markets Ltd και, and FF Simple and Smart Trades Investment Services Ltd.

3. XTB Sees 222.1% Jump in Net Profit for the Full Year 2022​

X-Trade Brokers (XTB), a leading FX & CFD broker based in Poland, has released its financial results for the year of 2022, seeing a significant jump in net profit compared to the same period of last year.

The broker recorded a total operating income of PLN 1,444.25 million in 2022, soaring 130.9% compared to PLN 625.60 million in 2021.

4. Listen to the Article: Let the Google Trends Results of FX Keywords Tell You A Story of Africa

If you search for keywords like "forex" or "forex trading" on Google Trends and choose the past 12 months as the time frame, you'll notice that African countries are consistently among the top search hotspots globally. You might assume that South Africa, being the most economically developed country on the continent and backed by the Financial Sector Conduct Authority (FSCA), has the highest search volume in sub-Saharan Africa.

However, according to the Google Trends data, Botswana actually takes the top spot with nearly 100 searches each time. Furthermore, the capital of Botswana, Gaborone, consistently ranks first in the city rankings.

5. Exclusive: Tiago da Costa Cardoso Ends His Tenure at INFINOX as Head of Business Development and Partners​

Fazzaco learned that Tiago da Costa Cardoso has ended his tenure as Head of Business Development and Partners at INFINOX Global, a London-based Forex and CFD broker.

Tiago Cardoso announced the move on his LinkedIn post on Thursday: "Today is officially my last day at INFINOX Global. It was more than 4 years, or more precisely, 1543 days of hard work but also fun moments and fantastic achievements.”

6. Exness and GMO Backed Crossover Markets Launches Execution-Only Crypto ECN

Crossover Markets Group Inc., a crypto exchange for institutional traders established last year by two former Jefferies executives - Brandon Mulvihill and Anthony Mazzarese, announced yesterday the introduction of CROSSx, its execution-only digital asset Electronic Communication Network (ECN).

An execution-only trading venue provider, Crossover notes that CROSSx brings to market one of the fastest crypto trading engines in the world, designed to significantly reduce trading costs, enhance execution quality and bolster market data capabilities.

7. FP Markets Scales up Its Trading Platform Lineup with cTrader​

FP Markets, an Australian regulated global Forex and CFD Broker, has added cTrader to its trading platform lineup, in order to cater to the growing demand of its traders and investors.

"FP Markets adds cTrader to its trading platform offering, serving as a premium charting solution for professional traders and investors," the broker posted today on LinkedIn.