Fazzaco Weekly Digest: VT Markets Partners with TradingView; Binance's Regulatory Challenges in the U.S; IG Group Hires New CTO
Take a look at the latest happenings in last week's news digest from around the forex, fintech and crypto industry. Here are some of the top headlines from last week.
1. VT Markets Announces Charting Partnership with TradingView
VT Markets, a global multi-asset broker, has announced its partnership with TradingView, the world’s leading provider of charting and analytical tools.
The combination of VT Markets' expertise in the financial industry along with TradingView's cutting-edge technological tools ensures that traders have access to the best resources available when making crucial trading decisions. Through this partnership, VT Markets' clients will be able to benefit from TradingView's comprehensive market research data and advanced financial visualisation tools. Additionally, TradingView provides a multitude of expert tools for traders, such as multiple chart types, customisable technical indicators, drawing tools, and live market updates.
2. Wael Hammad Parts Ways With ICM.com After Over 8 Years
Fazzaco learned that Wael Hammad has decided to resign from the role of Senior Regional Manager at ICM.com, a UK-based online Forex, commodity and CFD trading firm.
Wael has been with the brokerage for more than eight years. He joined as Business Development Manager in February 2015, then became Senior Regional Manager after almost fiver years.
In late March, Fazzaco covered the story that Binance, the world's biggest crypto exchange, was slapped with a lawsuit by the Commodity Futures Trading Commission (CFTC) for its illegal operations in the US and for failing to comply with the regulations put in place to prevent money laundering and other shady financial activities.
In a not-so-shocking twist, the CFTC has also named Binance's founder and CEO, Changpeng Zhao, and the former chief compliance officer, Samuel Lim, as defendants in the lawsuit. Lim allegedly not only disregarded the compliance program but also intentionally engaged in activities to evade the regulations aimed at preventing illegal financial activities.
4. IG Group Hires Adam Wheelwright as New CTO
Global fintech IG Group today announced it has appointed Adam Wheelwright as Chief Technology Officer (CTO) to drive its innovation agenda. Adam will be based in the company’s London headquarters and joins on 17 April 2023.
Adam has extensive experience in designing and delivering complex, transformational technology projects across financial services and large organisations, and has led teams across the US, Europe, and Asia. Prior to joining IG Group, Adam was the Chief Information Officer of the UK Health Security Agency and a member of the Executive Committee for NHS Test and Trace since 2021. There, he was responsible for the design, delivery, and evolution of all technological solutions supporting the nation's pandemic response.
5. M4Markets Takes Over Tixee's Client Assets
Trinota Markets (Global) Limited, the operator of the global Forex and CFD broker M4Markets, has acquired the client book of tixee, a CFD trading services provider, according to a customer support email from Tixee.
tixee is a trading name of Pipbull Ltd, which is authorized and regulated by the Financial Services Authority in Seychelles (FSA). Currently, clients are not able to create an account with the platform, and existing clients have the opportunity to transfer their accounts to M4Markets.
6. Unlock Your Trading Ability: Why TradingLive Is the Ultimate Platform for Learning Forex Trading
TradingLive is a live streaming platform that has taken the financial trading by storm. As a game changer, TradingLive has quickly become one of the most popular Apps among younger forex traders thanks to its user-friendly interface and a wide variety of video content.
At its core, TradingLive encourages traders and lecturers to create and share videos and live streaming that showcase their insights, predictions, and predictions on the market. TradingLive offers a virtually endless stream of content that is sure to captivate you and ignite your passion for learning.
7. Interactive Brokers Sees 16% YoY Decrease in DARTs for March 2023
Interactive Brokers, one of the biggest US-based brokerage firms, has released its Electronic Brokerage monthly performance metrics for March 2023, recording the Daily Average Revenue Trades (DARTs) of 2.055 million, a decrease of 16% on a yearly basis and a decrease of 3% on a monthly basis.
The broker ended the month with $343.1 billion client equity, 4% lower than prior year and 3% higher than prior month. Ending client margin loan balances stood at $39.4 billion, down 18% on a YoY basis and up 1% on a MoM basis.
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