Fazzaco Weekly Digest: Win-Loss Ratios of 38 Retail Brokers; TikTok Bans Promotion of Various Financial Services Products; ETX Capital Obtains License from FSCA

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. Exclusive: Win-Loss Ratios of 38 Retail Brokers in July 2021

Fazzaco has collected a total of 38 retail brokers’ data from July 2021 to see the dealings of brokers and retail traders.

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*The actual loss ratio for HYCM is 74-89%, with the average values applied in the table above.

As you can see from the chart, the average winning rate is 25.77% and the average losing rate 74.23%.

It can be seen from this table that among the 38 brokers, 7 brokers keeps the the same lossing ratio, 10 has higher, and 14 brokers has lower lossing ratio.

Other 7 brokers are not included for lacking of win-loss data of July 2020.

2. TikTok Bans Promotion of Various Financial Services Products, Forex and Crypto Included

China’s social media giant TikTok has banned contents that promote multiple financial services products, including foreign exchange and cryptocurrency.

According to the company’s “Branded Content Policy”, other banned products and services include lending and management of money assets, loans and credit cards, trading platforms, pyramid schemes, and investment services.

​The latest ban relating to cryptocurrency, as per TikTok’s advertising policies, involves most countries, including the U.S. and the U.K. TikTok has banned advertisements promoting virtual currencies/cryptocurrencies like bitcoin and ethereum, and prohibited cryptocurrency trading platforms and advisory services.

3. ETX Capital Obtains Regulatory License from FSCA

ETX Capital, a leading spread-betting and CFD provider based in London, announced that it has gained a new regulatory business license from the South African Financial Sector Conduct Authority (FSCA).

​The FSCA's mandate is to enhance the efficiency and integrity of financial markets, promote fair customer treatment by financial institutions, provide financial education and promote financial literacy and assist in maintaining financial stability in South Africa.

4. Plus500 Issues Trading Update on Performance in H1 2021

​Plus500, a retail Forex and CFDs broker, has provided a trading update on its H1 of 2021 performances.

The revenue of Plus500 for the first six months of 2021 stood at $346.2 million, which is down down from H1 of 2020's $564.2 million. Additionally, the broker revealed that it had generated $379.2 million from customer income in the period, which remained $556.9 million and $175 million in H1 of 2020 and 2019, respectively.

Moreover, Plus500 continued to bring new retail traders on its platform. 47,574 new traders joined the brokerage in Q2 of 2021, bring the total number of new clients in H1 to 136,980.

​5. Special Administrators of SVS Securities Issue An Unauthorized Email Warning

The administrators of SVS Securities plc, an investment firm offering broker-dealer and discretionary managed services failed in August 2019, recently issued an an urgent notice to warn all clients of the unauthorized emails.

The SVS Securities' administrator Leonard Curtis stated that some clients have received an unauthorized email advising them of the expiry of a password with SVS Securities PLC and asking readers to click on a link to confirm their current password.

However, the firm said that such a message wasn't circulated by its team and thus ask people not to click on the link contained within the mail.

6. IG Group Names Susan Skerritt as Non-Executive Director

Fazzaco learned that IG Group has named Susan Skerritt as a Non-Executive Director of the company.

She is currently Chair of the Audit and Risk Committee at Falcon Group and a member of the Audit Committees of the Board of Tanger Factory Outlet Centers and Community Bank System.

​7. SGX Reports Derivatives Trading Volume Surge in June 2021​

Singapore Exchange (SGX) reported its market statistics for the month of June. The exchange saw a jump in the derivatives total traded volume as the contracts increased 5% on a month-to-month basis to 18.9 million, the highest in three months.

According to the official announcement, SGX’s total foreign exchange (FX) futures traded volume climbed 17% m-o-m in June to 2.4 million contracts, which was led by a 25% jump in INR/USD Futures to 1.3 million contracts.

SGX saw a 10% jump on the volume of USD/CNH Futures compared to last month, and a 13% jump compared to the same period in 2020. Further, SGX USD/SGD full-sized futures volume reached 38,357 contracts, notching another monthly record high.