CySEC
June 09, 2021 BY Steffy Bogdanova

CySEC withdraws Bogofinance Capital Markets’s (FXJet) ICF membership

The move follows CySEC’s decision to withdraw the Cyprus Investment Firm (CIF) licence of BogoFinance Capital Markets. BogoFinance Capital Markets is a subsidiary of Lebanon-based broker BogoFinance, established in 2006 by local entrepreneur Joseph Boghos. The company obtained its CIF licence in 2017 when it entered the EU market and then rebranded as FXJet. Other…

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Australia
June 09, 2021 BY Steffy Bogdanova

Australian consumers lose $400,000 to smartphone app Ponzi scheme

An ACCC spokesperson stated: The ‘Hope Business’ app is a scam. Victims were encouraged to transfer funds in a Ponzi scheme. They were initially able to withdraw funds which encouraged them to recommend the application to family and friends, but they were subsequently unable to access their money. The same spokesperson then stressed that anyone…

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daily market analysis
June 09, 2021 BY Steffy Bogdanova

Daily market commentary: The stillness of the greenback comes as many are looking towards the US CPI for May

EUROPEAN SHARES  Stocks fluctuated with lower volumes than usual in Europe on Wednesday, following a mixed trading session in Asia where losses in Japan were offset by gains from Chinese shares. While investors search for new bullish catalysts to drive stock prices higher, there are still no significant bearish market drivers to trigger a sell-off…

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European Securities and Markets Authority Regulation
June 09, 2021 BY Steffy Bogdanova

Dutch regulator plans to restrict turbos backed by ESMA

AFM first flagged concerns towards the end of last year surrounding fears that retail investors are not thoroughly protected against the aforementioned derivative products. It additionally cited an official survey from regulators which found that around 68% of turbo investors in retail end up losing their money, the survey finding an average loss of around…

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Equiti mastercard
June 09, 2021 BY Steffy Bogdanova

Equiti releases payment card and mobile app

Ahead of the launch, traders were informed of the Equiti prepaid Master card and app and they demand showed a roughly 250% higher uptake rate than originally anticipated. Mohamed Alahmad, managing director for the Middle East region at Equiti, said: Equiti aims to make our client’s experience a global market disruptor so we are thrilled…

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Credit Financier Invest New Website
June 09, 2021 BY Steffy Bogdanova

CFI Financial launches new website

Founders and Managing Directors of CFI Financial Group, Hisham Mansour and Eduardo Fakhoury commented: The importance of a website goes beyond making an aesthetically appealing series of pages and delves into the needs and expectations of traders. This is a preemptive effort by the team to future proof the CFI name and experience while ensuring…

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Visa
June 08, 2021 BY Steffy Bogdanova

Visa teams up with Goldman Sachs to improve global payments

Alan Koenigsberg, global head of new payment flows, Visa Business Solutions said: There is an immediate need for modernization of global money movement to help businesses around the world simplify and enhance how they pay and get paid across borders. Visa’s partnership with Goldman Sachs Transaction Banking is an important milestone in our efforts to…

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Broadridge Financial Solutions
June 08, 2021 BY Steffy Bogdanova

Broadridge partners with AWS to release Blockchain-based Private Market Hub

Saman Michael Far, VP, Financial Services Technology, Amazon Web Services, added: We are excited to support Broadridge’s Private Market Hub, which accelerates the digitization of a critical part of the financial services infrastructure. Private Market Hub’s use of Amazon Managed Blockchain, a fully managed blockchain service, allows us to help Broadridge scale efficiently and more…

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daily market analysis
June 08, 2021 BY Steffy Bogdanova

Daily market commentary: Inflation remains in focus this week

EUROPEAN SHARES  Stocks opened modestly higher in Europe on Tuesday, with gains in utilities offset by losses from automakers. No significant price action has been spotted so far and investors face much less volatile and directional markets this week due to the lack of market drivers. Most benchmarks are still flirting with historical highs and…

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