Fazzaco Weekly Digest: FCA Updates Warning List; Dukascopy Hits Fake Domain Websites

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

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1. MaxiPlus and Others Added to FCA’s Warning List​

The United Kingdom's Financial Conduct Authority (FCA) issued warnings against 10 companies that are soliciting customers in the UK jurisdiction without any licenses or are clones of authorized platforms.

The 10 illegal firms include MaxiPlus (clone of EEA authorised firm), London Escrow, Rosenfelt Global Management, Best Fixed Rates 2021, Global CTB / Global Crypto Trading Bank, Archax Trade (Clone of FCA authorised firm), Talk Loans Ltd (Clone of FCA authorised firm), Allctrades, Revalmarkets (clone of FCA authorised firm), and apsfinancialgroup.com / apsbonds.com (clone of authorised firms).

2. Dukascopy Warns Against Two Fake Domain Websites

Dukascopy Bank SA, a Swiss innovative bank provides online ECN Forex, precious metals and CFD trading facilities,issued a warning against two fake domain websites that are abusing the details of the regulated entity.

As detailed in the notice, the domains www.dukascopys.com and wap.dukasap.com don’t belong to the firm and are fraudulent. These websites are not controlled and do not belong to Dukascopy Bank, Dukascopy Japan or any other entity of Dukascopy Group.

3. eToro Enables Clients to Use Recurring Deposits Feature

eToro, a leading social trading provider, has launched a new feature—recurring deposits, an option to set up automatic deposits in clients' account.

Users can decide the amount of money and the currency, and then schedule their deposits using a credit/debit card that has already been connected to their eToro accounts. The minimum amount that users can set up for recurring deposits is 50 USD.

4. Exness Appoints Wael Makarem as Senior Market Strategist for MENA

Forex and CFDs broker Exness has appointed Wael Makarem as the company's Senior Market Strategist for MENA.

Prior to Exness, Wael spent the past three and a half years as a market analyst at ICM.com. He has also worked at FXCM and Credit Financier Invest.

5. Financial Commission Issues Warning Against GXCM

The Financial Commission, an external dispute resolution (EDR) body dedicated specifically to FX, recently added GXCM(GXCM LTD) to its warning list. GXCM claims that it is an advanced CFD and Cryptocurrency online investing platform.

The decision was made after the Commission has been notified by concerned traders regarding the company and its associated website.

6. eToro Inks Sponsorship Deal with Football Club Aston Villa

eToro, a leading social trading provider, has signed a sponsorship deal with Aston Villa, an English professional football club based in Aston, Birmingham.

With the partnership, the broker will be able to market its brand using the matchday LED boards and media backdrops. Additionally, it will get promotional opportunities on the ticketing section and receive digital rights.

7. Thunes Offers Real-time Payments to Pakistan Through Partnership with Bank Alfalah​

Thunes, Singapore-based Fintech company and a leader in global cross-border payments, announced the partnership with Bank Alfalah, one of Pakistan’s largest banks, for the purpose of enabling real-time affordable cross-border payments to consumers in Pakistan.

The collaboration enables Thunes’ customers to pay in real-time to both Bank Alfalah’s clients and 57 million of Pakistan’s banked population.