India's Forex Rules Shake-Up Stuns Traders and Markets
India faces scrutiny as strict forex rules blindside traders, shrink market volumes, and spotlight regulatory uncertainties. The impact raises questions about India's appeal as an investment hub.
FOREX TODAY: THE US DOLLAR IS HAVING TROUBLE RECOVERING, AND THERE WILL BE MORE FEDSPEAK.
On Wednesday, there was more selling pressure on the US dollar (USD), and the USD Index ended the day lower than it started for the second day in a row. On Thursday, S&P Global will make available updated Services PMI data for the UK, Germany, and the Eurozone. The US economic docket will include weekly data on February's goods trade balance and first unemployment claims later in the day. During American trade hours, a number of Federal Reserve (Fed) policymakers will be giving lectures.
FX MARKET ROARS BACK INTO LIFE WITH $1 BILLION SINGLE-DAY DEAL.
On Tuesday, turnover at Nigeria's FX market reached its highest level in a single day since 2017, as a long-standing dollar scarcity that has hampered years eased.
CUSTOMS CLAIMS CBN-APPROVED FOREX RATES FOR IMPORT DUTIES HAVE CAUSED PROBLEMS.
The FX market (pronounced "fix"), or currency market) is a global decentralized or over-the-counter (OTC) market for exchanging currencies. This market determines the FX rates for all currencies. It covers all aspects of purchasing, selling at current or predetermined prices. In terms of trade volume, it is far and away the world's largest market, followed by the credit market.
FOREX TODAY: US DOLLAR STRENGTHENS AND SEEKS TO MAINTAIN GAINS
The US dollar is the overwhelming winner as of late Monday, despite the fact that several major markets were closed on Easter Monday. The focus of attention at the start of the day was growth-related data, as China released encouraging manufacturing production figures for March. Even still, the news was not enough to cheer investors.
Canada’s Watchdog, issued warning against Five Firms
The Canadian watchdog organization, known as the CSA, recently issued a cautionary statement regarding five specific firms. This warning serves as a notice to the public about potential risks or concerns associated with these companies.
Aussie & Kiwi Traders Get Easy Access to Blocksquare Token
Stormrake Cryptocurrency Brokers now offers Australian and New Zealand residents the chance to trade Blocksquare Token easily, marking a significant advancement in the digital real estate sector.
Interactive Brokers Expands New Services to Empower Hedge Fund Traders
Interactive Brokers has introduced two new services, High Touch Prime Brokerage and Global Outsourced Trading, to assist US hedge funds in managing and expanding their operations. These services are designed to complement the existing range of offerings tailored to active traders and institutional investors.
Australian Federal Court to Shut Down Prospero Markets
Prospero Markets faces closure following intensive regulatory scrutiny led by the Australian Securities and Investments Commission (ASIC). Amidst a whirlwind of licensing breaches, money laundering allegations, and operational lapses, the focus now shifts sharply to safeguarding client funds and restoring investor confidence.
Philippines SEC issues warnings against CFDs brokers eToro and XM
The Philippines financial regulator Securities and Exchange Commission (SEC) has issued two advisories this month, warning traders against two retail FX and CFDs brokers, eToro and XM.
Axi continues its collaboration with Brazilian football club
The worldwide leading Forex and CFD broker Axi has revealed an extension of its sponsorship with Brazilian Serie A team Esporte Clube Bahia for the 2024 season. The broker has sponsored this team in 2023.
TradingView Unveils Time Price Opportunity Chart for Enhanced Market Analysis
TradingView introduces a new Time Price Opportunity chart type, allowing traders to better analyze price activities and set precise targets through detailed visual profiles. This feature caters exclusively to Premium users.
Clone of FCA Authorised Firm
A clone of an FCA-authorized firm is a duplicate entity with the same credentials and authorization as the original firm. Clones try to fool people by appearing authentic and authorized by the Financial Conduct Authority.
Schwab Expands Trading Horizons with Forex and Futures on Thinkorswim
Charles Schwab introduces forex trading, futures, and portfolio margin on the Thinkorswim platforms, marking a significant expansion of its trading capabilities.
ZA Bank Launches Custody Services for Hong Kong's Stablecoin Issuers
Hong Kong's ZA Bank introduces exclusive custody account services for institutions keen on pioneering stablecoin issuance, marking a significant step forward in digital finance security and innovation.
Easymarkets vs Axi: Which is a better choice for you?
With stunning goals, frantic action, and moments of pure quality; Tuesday’s Champions League quarterfinal between Real Madrid and Manchester City simply had it all. After more than 90 minutes of breathless action, the first leg finished 3-3 in Madrid’s Estadio Santiago Bernabéu, perfectly setting up the return leg on April 17.
Nigeria's Central Bank Cracks Down on Foreign Exchange Collateral
In a bold move to stabilize the Naira, the Central Bank of Nigeria has forbidden banks from using foreign exchange as collateral for local loans, introducing severe penalties for non-compliance.
ASIC Appeals Federal Court Decision on Finder's Crypto-Asset Product
ASIC appeals a court decision on Finder's crypto-asset product. Concerns over consumer protection and licensing of Finder Earn.
WikiFX and Techysquad IT Infrastructure CO. L.L.C Drive Innovation in the Financial Industry
We are thrilled to announce a strategic partnership between WikiFX and Techysquad IT Infrastructure CO. L.L.C, aimed at delivering innovative solutions tailored to the evolving needs of brokers. This partnership reflects our commitment to driving positive change in the financial industry.
FCA Wins Court Approval to Recover £1.6m from Illegal Investment Scheme
The Financial Conduct Authority has successfully obtained court approval to recover £1.6 million from Argento Wealth Ltd. and its director for promoting illegal investment schemes, aiming to return funds to investors.
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