Fazzaco Weekly Digest: Swissquote Names Matteo Marchetti; BDSwiss Sponsors Golf’s DP World Tour Championship

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

1. Swissquote Names Matteo Marchetti as Business Development Executive​

Fazzaco learned that Swissquote, Switzerland's leading bank in online trading services, has named Matteo Marchetti as the company's new Business Development Executive.

As seen on his LinkedIn profile, Matteo joined Swissquote as Sales Executive in April 2018. Prior to Swissquote, he was a Trading Internship at Giotto Cellino Sim S.p.A., a stock broking company.

2. BDSwiss Sponsors Golf’s DP World Tour Championship​

BDSwiss Group (BDSwiss), a global leading financial group offering FX and CFD investment services, announced on Tuesday its sponsorship of DP World Tour Championship held in Dubai in collaboration with the European Tour.

According to the announcement, the sponsorship will provide the broker with strong brand exposure and excellent business-to-business opportunities through access to the tournament’s Pro-Am competition and suite of hospitality services. As part of this partnership, BDSwiss will also be launching an exclusive loyalty campaign rewarding its loyal clients and partners as well as top-performing traders with Hospitality tickets, round trip flights and accommodation to Dubai.

3. CySEC Issues Warnings Against Six Unregulated Firms​

The Cyprus Securities and Exchange Commission (CySEC) issued a warning about six unregulated financial firms, including those that offer forex trading services without a license.

The following websites do not belong to a firm that has been granted a license to offer investment services and/or conduct investment operations under Article 5 of Law 87 (I)/2017:

• ​capitalmarketcorp.com

• ​admiralecn.net

• ​thegoldcapitals.com

• ​alphacapitaltrade.com

• ​magnasale.org

• ​brocprime.net

4. Saxo Bank Lowers Minimum Deposit Requirement for MT4 Clients​

Saxo Bank, one of the largest online investment banks in Europe, has automated its MetaTrader 4 (MT4) onboarding processes. At the same time, the minimum deposit threshold will be reduced to GBP 3,000, compared to the previous GBP 15,000 requirement.

 ”Offering smoother access to MT4 at a much lower cost is another example of how we are empowering our clients with broader access to global capital markets and best-in-class institutional-grade execution. We pride ourselves on delivering our clients a truly differentiated trading experience, through a single account clients not only get access to MT4 but multiple assets and currencies as well as 25 years’ experience in managing global liquidity and execution,” Peter Plester, Head of FX Prime Brokerage at Saxo Bank, commented.

5. FCA Identifies Brokers Encouraging UK Clients to Trade with Foreign Firms​

The UK Financial Conduct Authority (FCA) has released a Perimeter Report for 2020-2021, which clarifies its perimeter' s complexities and highlight the gaps in regulatory responses to the potential for harm. For example, FCA has identified several brokers encouraging clients to trade with entities in third-country jurisdictions rather than their UK business.

Specifically, FCA alleged in the report that these companies are conducting the unregulated activities by using introducing brokers (IBs) and affiliates. They are doing this because FCA' s regulatory requirements are very strict with strong limits on leverages and marketing efforts. In contrast, offshore brokers can attract retail traders by offering significantly higher leverage and bonuses.

6. Exness Sees 7.7% MoM Trading Volume Rise in September 2021​

Fazzaco learned that Retail FX and CFDs broker Exness has posted its trading volumes for the month of September, showing a slight rise compared to the previous month.

Exness reported a total trading volume of $947 billion in September, which is up by 7.7 percent compared to the previous month's trading volume of $879 billion. For the first three quarters of 2021, Exness averaged $834 billion in monthly client volumes, up by 48 percent over 2020's $565 billion.

7. StoneX Launches New Prime Direct Offerings​

StoneX Group (NASDAQ: SNEX) announced on Tuesday that it has launched new Prime Direct offerings under its Prime Services Division, which aims to offer best solutions to clients leveraging its cutting edge prime brokerage technology.

According to the Group, the new offerings are launched to bridge the gap between full-service Prime Brokerage services offered to larger managers and discount brokerage options accessible to emerging investors, making a new breakthrough in giving all clients access to the technological solutions needed to trade the US equities and options markets at an institutional level.