Fazzaco Weekly Digest: Prop Firms GFT Resumes MT 4 Access; British and Italian Regulators Updates; Fazzaco Dxclusive Data Reports on FX Trading & Client Profit / Loss Rate of 32 Brokers

Fazzaco continued extensively covering the latest trends in forex, crypto, fintech, and prop trading last week. In addition, data regarding institutional FX spot trading volume as well as the client profit / loss rate of 32 brokers have been published. Below are some of the most read news and articles from Fazzaco.

Prop Firms GFT Resumes MT 4 Access Following Licensing Disruption​ & Prop Firm SabioTrade Launches New Platform for Traders​

Last week, prop trading firm Goat Funded Trader (GFT) has announced the restoration of MetaTrader 4 (MT4) access for its clients after the disconnection by Purple Trading in February​.

In addition, SabioTrade has introduced its latest trading platform, the Sabio Dashboard, also known as the Sabioverse. The new platform emphasizes a trader-centric design and a feature-rich interface aimed at enhancing the trading experience.

UK FCA Issues Warning Against 45 Unauthorized Companies​ & Italian CONSOB Adds 6 New Unauthorized Financial Websites to Its Blacklist​

The UK Financial Conduct Authority (FCA) issued warnings against 45 new companies from June 17-21, 2024 that are soliciting customers in the UK jurisdiction without any licenses or are clones of authorized platforms.

The Italian financial watchdog CONSOB has ordered the black-out of 6 new websites that offer financial services illegally during the week before last week (until June 21), bringing the total number of websites blacked out to 1,110.

Barclays Ex-CEO Tim Throsby Joins XTX Markets as Director​

Last week, broker XTX Markets officially announced the appointment of Timothy James Osborne Throsby as a director within the organization. Throsby brings with him a wealth of experience from various sectors, including finance and education, which is expected to enhance the strategic direction and governance of XTX Markets.

SquaredFinancial Launches Social Trading on MetaTrader 4​

Industry-leading fintech firm SquaredFinancial has introduced a Social Trading feature on its MetaTrader 4 (MT4) platform. This new tool allows traders to easily access and copy trading strategies, providing a seamless experience for users familiar with the risks involved in trading.

Institutional Spot FX Trading Volume Sees Decline in May, Avg. M-o-M Drops -12.9%​ & Fazzaco Reports: Client Account Profit/Loss Ratio of 32 Brokers in June 2024​

​The institutional spot FX trading volumes of major platforms stopped growing throughout May 2024. The average m-o-m comparison is down 12.9% based on what the six major institutions posted, which include Cboe FX, Euronext FX, FxSpotStream, 360T, CME EBS and Saxo Bank. The max. drop comes from Saxo Bank, which is -22.22%.

Fazzaco last week published the collected data of profit/loss ratio of client accounts from 32 brokers in June 2023. The brokers we have in this month-on-month comparison are different from last month: eToro has been removed due to failure to obtain their updates; meanwhile, TradeView Markets and PRC Broker have been added to the list.

Why Is UAE Always Packed with Expos?​

It is a well known fact that the UAE is a hub for various events and exhibitions across different industries, with Dubai being particularly prominent.