Fazzaco Weekly Digest: Highlights of July Financial Reports; Your Roadmap to Forex Licensing; TrioMarkets CEO Resigns

Last week, Exness​, Swissquote, Darwinex​, Euronext​, Cboe​ and several more financial services companies released their monthly, quarterly or semi-annual financial reports. Fazzaco also compiled and summarized highlights of the news we covered from brokers, exchanges, and fintechs labeled under "Data Report" since July.

In terms of personnel changes, Andrey Kalashnikov, who has served as CEO of TrioMarkets for over 8 years, left the company. Axi​ and Finveo also had executive departures.

As for crypto industry, the crypto exchange Huobi has seen huge outflows and rumors of its bankruptcy.

In addition, to cater to clients' consulting needs of starting up and better developing a forex brokerage, Fazzaco will prepare a series of articles covering crucial considerations and strategies essential for successfully establishing your forex brokerage, starting with an article about forex licensing. Fozzy, a forex VPS provider, also detailed the benefits of Expert Advisors (EAs), helping traders improve trading results and seize trading opportunities.

Ali Rupani, the Global Head of Front Office at SquaredFinancial, also gave an exclusive interview to Fazzaco to share the company's recent achievements and future prospects.

Here are the related details, as well as some of the most read forex, crypto, and fintech news pieces and articles from Fazzaco over the past week.

1. Fazzaco Reveals: The Highlights of July Financial Reports​

As of the mid-point of 2023, the forex landscape has witnessed notable shifts over the past year. These changes foreshadow additional transformations in the coming months, notably driven by the surge in digital trading, which is spurring demand for innovative trading platforms.

Subsequently, Fazzaco compiles and summarizes highlights of the news we covered from brokers, exchanges, and fintechs labeled under "Data Report" since July. The review encompasses key facets such as profitability, revenue distribution, growth trajectories, and shifts in net earnings.

2. TrioMarkets CEO Andrey Kalashnikov Resigns

Fazzaco learned that TrioMarkets, a leading online trading platform, has lost its Chief Executive Officer (CEO), Andrey Kalashnikov, who has been with the company in the CEO role for over eight years. At TrioMarkets, Andrey has been leading the development and implementation of the company's vision, strategy, and mission. 

"It's been a wonderful 8 years but that chapter in my life has concluded I have officially concluded my journey at TrioMarkets. The experiences and knowledge gained during my time there have been invaluable, and I am grateful for the opportunities to learn and grow with such an incredible team," he shared on social media.

3. Your Roadmap to Forex Licensing​

Starting your own forex brokerage is an ambitious and highly rewarding endeavor. With the global forex market continuously thriving, the demand for brokerage services has surged, making it an enticing opportunity for aspiring entrepreneurs and financial enthusiasts. However, launching a forex brokerage requires meticulous planning, extensive market knowledge, and strict adherence to regulatory guidelines.

Recently, Fazzaco has experienced a surge of inquiries regarding starting up a forex brokerage, and the interest keeps growing steadily. To cater to clients' needs, Fazzaco  will provide you with a step-by-step approach, covering crucial considerations and strategies essential for successfully establishing your forex brokerage. Whether you are a seasoned financial professional looking to venture out independently or an enthusiastic newcomer with a vision, Fazzaco aims to equip you with the knowledge and insights necessary to create a thriving forex brokerage, allowing you to carve your niche in this dynamic and competitive industry.

4. Benefits of Expert Advisors and Why You Should Run It on a VPS

Manual trading can be exhausting, time-consuming, and expensive. With less than 10% of traders thriving, having an edge is crucial. Like Wall Street fund managers, some of the best traders globally use trading automation tools to improve their results. In forex world, these tools are often come in a form of Expert Advisors.

The Forex market is open 24 hours a day, Monday through Friday. However, humans cannot stay online 24/5, but machines can. This is where EAs come in: they constantly analyze new price data, as frequently as every second, and execute your strategy.

5. Huobi Grapples with Rumors of Insolvency Amidst Hefty Outflows​

The Huobi cryptocurrency exchange has been hit with outflows totaling a staggering $64 million this past weekend, continuing a long decline in the total value locked (TVL) on the exchange to $2.5 billion from $3 billion a month ago, reportedly.

Adam Cochran—a fintech executive, angel investor, and renown crypto Twitter analyst—recently raised eyebrows with a series of statements regarding the apparent financial instability of Huobi. He reported that global crypto heavyweight Binance had commenced the bulk sale of Tether (USDT), a leading stablecoin.

6. GO Markets Taps Options as Primary Market Data Provider for Asian Expansion

GO Markets, an Australian regulated online provider of CFD trading services, has built a partnership with Options Technology, the leading provider of financial technology and global market data solutions, to extend its footprints into Asian markets.

In this collaboration, Options serves as GO Markets' primary market data provider, beginning with the provision of Hong Kong Stock Exchange data and the redistribution of derived CFD products.

7. Fazzaco Exclusive Interview with Ali Rupani, Global Head of Front Office at SquaredFinancial​

SquaredFinancial is a multi-regulated, award-winning FinTech firm that offers CFD trading services. Ali Rupani, Global Head of Front Office at SquaredFinancial, accepted Fazzaco's invitation for an exclusive interview to introduce more about this leading brokerage firm.