Rescue Frees Hundreds from Philippines Love Scam
Law enforcement in Philippines rescues victims from a fraudulent scam center near Manila. Victims include 202 Chinese and 73 foreigners, exposing the pervasive threat of online fraud.
Crypto Blamed as Scapegoat for Naira's Woes, Will the Ban on Crypto exchanges revive the Naira?
Nigeria's crypto landscape remains in flux. While the ban may not be the main culprit behind the Naira's struggles, a more nuanced approach is needed.
Is Forex Trading the Answer to Nigeria's Economic Woes?
Forex trading can be a profitable avenue for a select few, but it's not a solution for Nigeria's economic woes.
US DOLLAR REMAINS STABLE TODAY AHEAD OF IMPORTANT INFLATION DATA IN FOREX
Tuesday morning in Europe continues to see comparatively modest activity on the financial markets. After reporting modest gains on Monday, the US Dollar (USD) Index remains stable just below 103.00. Meanwhile, as investors brace for the release of the February Consumer Price Index (CPI) data, the yield on a 10-year US Treasury note fluctuates at about 4.1%.
NO FDIS FOR MONTHS FOLLOWING FX LIBERALIZATION AND SUBSIDY REMOVAL
Multinational corporations are leaving the nation six months after the foreign exchange market was liberalized and gasoline subsidies were removed. Despite this, there is no indication of foreign direct investment (FDI).
FOREX TODAY: THE US DOLLAR IS HAVING TROUBLE RISING TO BEGIN THE WEEK
The US Dollar early on Monday following a week in which it lost significantly to its main competitors. After dropping more than 1% last week, the USD Index is now below 103.00, while the yield on the benchmark 10-year US Treasury above 4%. There won't be any significant data releases to begin the week according to the economic calendar.
FOREX CRISIS: MTN NIGERIA HAS LESS MONEY TO INVEST ON INFRASTRUCTURE
The extended foreign exchange crisis in the country has, according to MTN Nigeria's Chief Financial Officer, Mr. Modupe Kadri, caused the business's fixed capital expenditure in Naira to lose value. As a result, the company has less money to spend in infrastructure.
My Forex Funds vs. CFTC: Legal Battle Erupts Amid Allegations of Bad Faith
Legal representatives of Traders Global Group, who operate under the name My Forex Funds, have initiated legal proceedings by filing a motion seeking sanctions against the Commodity Futures Trading Commission (CFTC) for alleged misrepresentation of facts and acting in bad faith.
Stay away from Rapid Capitals
It is advisable to avoid engaging with the broker known as Rapid Capitals. UK’s FCA issued a warning against this particular broker. By staying away from Rapid Capitals, you can avoid potential headaches and financial losses that may arise from working with an untrustworthy broker.
HK Regulator warns against unlicensed Trading platform MEXC
The Hong Kong regulator (Securities and Futures Commission) issued a warning against the unlicensed trading platform, MEXC. The Authority cautioned investors about dealing with MEXC due to its lack of proper licensing and regulation in Hong Kong.
Prop Firm The Funded Trader Has Stopped Withdrawals?!
The Funded Trader, a proprietary trading firm has abruptly ceased pay-outs to its clients in amidst of shifting away from MetaQuotes’ platforms.
Alert: Bybit and BitForex Face Hong Kong Regulatory Scrutiny
Hong Kong’s SFC issues cautionary statement on unlicensed cryptocurrency exchanges that pose high risks to investors.
Banking Giant JPMorgan Fined $348M By US Authorities
JPMorgan Chase (JPM) finds itself in the spotlight as it agrees to pay a substantial $348 million in fines to US regulatory bodies for alleged negligence in monitoring both client and staff trading activities. This financial penalty ranks among the largest imposed on any financial institution in 2024.
SEC Accuses 17 People in $300 Million CryptoFX Ponzi Scheme
The SEC charges 17 individuals in a massive $300 million Ponzi scheme involving CryptoFX, affecting over 40,000 investors, mainly from the Latino community. Promising high returns from cryptocurrency investments, the scheme operated across 11 states and two countries, failing to invest as promised.
Checkout FCA's Latest Warning List
The Financial Conduct Authority (FCA) has recently updated its warning list, cautioning consumers about firms operating without authorization. By FCA warning list, consumers can protect themselves from potential scams and unauthorized activities in the financial sector.
The Funded Trader Suspends Payouts Amid Internal Audit
The Funded Trader, Miami-based, pauses payouts amid internal audit amidst MetaQuotes' regulatory oversight, revealing challenges in prop trading amidst platform transitions.
Tether's USDT Set to Launch on Celo
Tether's USDT expands via integration with Celo, a mobile-focused layer-1 platform. Enhancing cross-border payments and financial inclusion.
The Funded Trader Embraces cTrader Platform Amidst Industry Shifts
The Funded Trader has recently announced a significant move towards the cTrader platform, as revealed on the social media platform X, previously known as Twitter.
ED seized ₹37.5 crore assets from an Indian businessman
The ED has accused Vinod Khute, an Indian businessman of scamming and plotting a criminal conspiracy to lure individuals into a Ponzi scheme and FX trading. Vinod Khute is a founder of the Pune-based VIPS Group of Companies and Global Affiliate Business Company.
PH SEC Alerts on ROLLYX TRADING Unlicensed Investment Scheme
Philippine Securities and Exchange Commission issues alert on ROLLYX TRADING's illegal investment schemes. Public warned against unlicensed activities promising high returns without proper registration.