Fazzaco Weekly Digest: MetaQuotes' New Crisis in India?; Blueberry Markets Discontinues Services for Prop Trading; Admirals Unveils New AI-Based Solution

The online broker, Blueberry Markets, has now joined the growing list of companies discontinuing their services for the proprietary trading sector. This decision has been directly influenced by the tightening measures implemented by MetaQuotes, a renowned trading platform developer. 

In addition to causing operational difficulties for many prop trading firms, MetaQuotes faced its own challenges when its flagship platforms, MT4 and MT5, were unexpectedly removed from Google Play in India at the end of last month. Fazzaco has provided an in-depth analysis of this matter.

To address customer needs and capitalize on market opportunities, several brokers are actively developing new offerings. Last week, Admirals announced the launch of its latest AI analytics solution for MT4 and MT5 traders, while ThinkMarkets introduced a spread betting service in its flagship trading platform, ThinkTrader.

Furthermore, there have been notable executive changes in various companies such as SquaredFinancial, ZaraFX, Blueberry Markets​, CPT Markets UK​, and VT Markets, indicating significant personnel turnover. 

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

1. Listen to the Article: MetaQuotes Removed from Google Play in India - Déjà Vu or A New Crisis?​

So, have you heard the news? MetaQuotes' popular trading platforms, MetaTrader 4 and MetaTrader 5, have been taken down again. Well, here's a good news and a bad news. The bad news is that this time it was Google Play that has removed them, meaning Android users have lost their MT access. The good news? Well, it's only happening in India.

But does this mean that the impact of the removal of MetaQuotes has geographical boundaries? And how does this removal compare to when Apple pulled the plug on MTs over a year ago?

2. Admirals Unveils New AI-Based Analytical Research Terminal

Admirals, the online financial service provider for multi-asset trading and investment, announces the official addition of a latest analytical solution for its MT4 and MT5 traders.

This significant enhancement, that integrates cutting-edge AI technology, allows traders to expand their analytical scope and simultaneously identify financial assets of interest l by tracking their popularity and news sentiment.

3. Blueberry Markets Discontinues MetaTrader Platforms for Prop Trading Firms​

Blueberry Markets, an Australian-based FX trading platform, announced that it has discontinued its Data and Platform Service Offering, which was specifically created to cater to the needs of the prop industry by utilizing its infrastructure.

"Blueberry Markets respects the prop trading industry. Balancing our recognition of the industry's recent popularity and sustained growth trajectory and concerns voiced by a key infrastructure vendor, Blueberry Markets made the decision to discontinue this offering," said Dean Hyde, Blueberry Markets CEO. "After lengthy discussions it was decided the only way to address these concerns in a meaningful way was to discontinue providing services to the prop industry with its current platform offering."

4. ThinkMarkets Introduces Spread Betting in ThinkTrader

Following the obtainment of an operating license from the Dubai Financial Services Authority (DFSA), ThinkMarkets, the leading multi-asset trading provider, announced Wednesday (March 6) the introduction of spread betting service in its flagship trading platform, ThinkTrader.

This enhancement reinforces ThinkMarkets' commitment to providing diverse and flexible spread betting and trading options to meet the evolving needs of its clients.

5. SquaredFinancial Elevates Chrysovalantis Karageorgiou to COO​

SquaredFinancial, a multi-regulated award-winning FinTech firm offering CFDs trading, has promoted Chrysovalantis Karageorgiou to the position of Chief Operations Officer, with remits of leading key departments including Back Office, Clients Accounting, Products, and Business Intelligence.

With over a decade of experience in the fintech industry, Chrysovalantis boasts a wealth of knowledge in implementing and managing cross-functional teams.

6. All 10 Crypto Exchanges See A 4% M-o-M Rise in Feb's Spot Volumes

Based on spot trading volume data since February 2024, Fazzaco has compiled the performance of the top ten crypto exchanges. In this month, the crypto market's growth went up 4% compared to last month, rising from US$962.21 billion to over US$1,000 billion this month. Nonetheless, six out of the top ten still showed a month-on-month decline.

The largest increase was seen in Bybit, with a 15.76% growth, while the largest decrease was from LMAX Digital, at 37.09%. 

7. Tools for Brokers Announces Liquidity Bridge Partnership with Broctagon​

Tools for Brokers (TFB), an international technology provider for retail brokers, hedge funds, and prop trading firms, has forged a strategic partnership with Broctagon, a renowned multi-asset liquidity and full-suite FX solutions provider. This collaboration aims to enhance the experience of Broctagon's clients by streamlining access to liquidity through TFB's Trade Processor liquidity bridge.

As part of the partnership, Broctagon will integrate Trade Processor into its ecosystem, reducing the steps required for clients to access liquidity. The integration will also expand the options for Broctagon's clients, helping them diversify their list of trusted liquidity providers, minimise risks, and achieve the best pricing even for atypical client orders and orders during a market slowdown.