Industry Trends Involving RADEX, Neex, Citadel, VT Markets; September Crypto Volumes Update; BrokersView Abu Dhabi Expo

Fazzaco continued extensively covering the latest trends in forex, crypto, fintech, and prop trading last week. We also closely followed up on the successful BrokersView Expo from the 11th to 12th in Abu Dhabi, UAE.

Below are news and articles for the Fazzaco's last week recap.

RADEX Partners with Pelican Trading to Enhance Social and Copy Trading

RADEX MARKETS, a globally regulated forex and CFD brokerage, has entered into a strategic partnership with Pelican Trading, a platform known for its innovative social trading capabilities. This collaboration integrates Pelican Trading's cutting-edge solutions into RADEX MARKETS' services, allowing traders to leverage social and copy trading within a single platform.

Neex Establishes Representative Office in Dubai​

Neex, a leading financial technology (Fintech) company, announced the establishment of a representative office in Dubai, marking an important step in its global outreach efforts.

The opening ceremony was attended by industry leaders and esteemed guests, including distinguished members of the Pride Group such as Her Excellency Sheikha Moaza Al Maktoum, Yasir, and Abo. Their presence underscores the strong relationships Neex has cultivated within the international financial community.

Citadel Settles with FINRA for $1 Million Over Reporting Violations

Citadel Securities LLC has agreed to pay a $1 million fine as part of a settlement with the Financial Industry Regulatory Authority (FINRA), following violations related to its Consolidated Audit Trail (CAT) reporting obligations.

The firm failed to accurately and timely report tens of billions of equity and option order events to the CAT Central Repository between June 22, 2020, and August 28, 2024, violating FINRA Rules 6830, 6893, and 2010.

VT Markets Launches Client Fund Insurance​

VT Markets, a prominent global financial services provider, has announced the launch of its Client Fund Insurance, offering coverage of up to US$1,000,000 for eligible clients. This initiative reflects the brokerage's ongoing commitment to safeguarding client funds.

The insurance policy will automatically cover both new and existing clients at no additional cost, reinforcing financial security in the event of insolvency. Ludovic Moncla, Head of Strategic Operations EMEA at VT Markets, emphasized the importance of client trust, stating, "Our clients' trust is paramount to us, and this insurance policy is a key step towards reinforcing that trust."

September Crypto Spot Volumes Decline: Top 10 Drop 21.06%

Based on spot trading volume data since September 2024, Fazzaco has compiled the performance of the top ten crypto exchanges. In this month, the crypto market's growth went down by 21.06% compared to last month, dropping from August's US$950.62 to this month's US$750.44.

A Huge Success! BrokersView Expo Abu Dhabi Sees Unprecedented Crowds on Opening Day​

On October 11, the BrokersView Expo Abu Dhabi 2024 kicked off in spectacular fashion at the Conrad Hotel Abu Dhabi! The venue was buzzing with activity as long lines of traders and industry elites formed at the registration area, eager to check in.