Fazzaco Weekly Digest: Way Out for Way Out for White Labels; 30 Brokers' Client Profitability in September; M4Markets Obtains DFSA License

Last week, Fazzaco collected the profit/loss ratio data of client accounts from 30 brokers in September 2023, seeing that an average of 26.72% of customer accounts achieved profit, and 73.28% of customer accounts suffered losses.

MetaQuotes had previously announced that it would no longer provide support for MT4/5 white labels, sparking ongoing concerns in the industry. Fazzaco discussed the future of white labels and has found some good alternatives in the market.

Regarding personnel changes, senior dealer Tasos Savva left Exinity for IC Markets as Senior Brokerage Officer, and Jean-Raphael Nahas, Managing Director of the Cyprus CFD operations at BUX, announced his resignation.

As for business expansion, Interactive Brokers entered into a partnership with Zero Hash to enhance its crypto trading and custody services. M4Markets has been granted a business licence by Dubai's financial regulator, allowing it to extend its services in the Middle East.

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. Listen to the Article: MT4/5 White Labels, Are They Still A Viable Option in 2023 and Beyond?​

People in the forex business know that when building a brokerage, they can choose between a main label and a white label depending on their own conditions. But the most widely used trading platform in the market, MT4/5, developed by MetaQuotes, announced in September 2022 that it would no longer provide support for white labels. And until further notice, it will also stop processing new white labels.

So, we are gonna talk about whether MT4/5 white labels can still play well in 2023 and beyond. And what are some good alternatives in the market?

2. Fazzaco Reports: Client Account Profit/Loss Ratio of 30 Brokers in September 2023

Fazzaco collected the data of profit/loss ratio of client accounts from 30 brokers in September 2023. The brokers we have in this month-on-month comparison were the same as last month.

Among the 30 brokers this month, an average of 26.72% of client accounts achieved profits, while 73.28% of client accounts suffered losses. Compared with the average data in August, the loss rate of client accounts increased by 0.49%.

3. IC Markets Hires Tasos Savva as Senior Brokerage Officer from Exinity​

Fazzaco learned that Tasos Savva has left Exinity for IC Markets, a market-leading online trading provider, as Senior Brokerage Officer.

Before joining IC Markets, Tasos has been with Exinity, a retail Forex brokerage firm which owns Alpari and FXTM brands, for more than seven years.

4. Jean-Raphael Nahas Parts Ways with BUX

Jean-Raphael Nahas has resigned from the role of Managing Director of the Cyprus CFD operations at BUX, a European neobroker.

"After 1.5 years of incredible experience and growth at Stryk by BUX I've made the decision to embark on a new and exciting challenge," he posted on LinkedIn.

5. Interactive Brokers Joins Hands with Zero Hash to Enhance Crypto Trading​

Interactive Brokers (IBKR), a US-based automated global electronic broker, has built a partnership with Zero Hash, the leading crypto infrastructure platform, to reinforce its crypto trading and custody services leveraging Zero Hash's full-stack API.

Already in 2021, Interactive Brokers participated in Zero Hash's Series D fundraise.

6. M4Markets Obtains DFSA License, Rehires Oscar Asly to Lead MENA Business

M4Markets, a Seychelles-regulated Forex and CFD broker, announced yesterday (September 21) that it has been granted a license by the Dubai Financial Services Authority (DFSA) to operate in the Dubai International Financial Centre (DIFC).

With this new license, M4Markets is now regulated in four jurisdictions, including the DFSA, the CySEC in Cyprus, the FSA of Seychelles, and the FSCA of South Africa.

7. ICM Capital Incurs Around £1M Loss in 2022, Relinquishes Retail Business​

Fazzaco learned that ICM Capital, the UK branch of ICM.com, an online Forex, commodity and CFD trading firm, has released its financial results for 2022, unveiling another year of heavy losses. Besides, the broker has decided to exit the retail segment, to shift its focus on professional clients.

ICM Capital incurred a loss of 989,081 for 2022, compared to £1,117,789 in 2021. The company booked negative turnover of -£266,160, compared to -£194,390 in the previous year. In 2020, however, it generated revenues of £2.6 million.