Broker Updates on Aug. 31 - Sept.6

USGFX to enter liquidation as shareholders remain unhelpful. The external administrator earlier raised concerns over the brokers financials.

Vietnam

USGFX Liquidation

1. USGFX to enter liquidation as shareholders remain unhelpful. The external administrator earlier raised concerns over the brokers financials.

Investment Scam

2. Investors in Singapore lost 22,3 million SGD (16,32 million USD) to scammers in the first half of 2020. The amount represents a nearly 45% rise compared to the same period last year, when scammers have stolen 15,4 million SGD or about 11,27 million USD, reported the local authorities.

Crypto Exchange License

3. Hong Kong's Securities and Futures Commission (SFC) gave green light for its first crypto exchange license to OSL Digital Securities, a unit of Fidelity-backed BC group, the company said in a statement, cited by Reuters.

2020 Profits

4. Blackwell Global records full-year profit for fiscal 2020. Profit for the financial year ended on the 31st of March 2020 was £848,672.

Indonesia

FortuneSharing

5. In order to celebrate the independence day of the Republic of Indonesia which fell on August 17, XM broker held a fortune sharing with 12 exclusive prizes worth IDR 110,000,000.

Sponsorship Deal

6. EasyMarkets, a CySEC-regulated forex broker, has signed a three-year sponsorship deal with Real Madrid CF, thus becoming the Spanish football club's online trading partner. This will begin from the upcoming 2020-2021 season.

Active Accounts

7. Interactive Brokers has won more clients, with total August's active accounts up to 948,000.

Thailand

Copytrading Service

8. ForexMart launched copytrading service allowing its customers to copy the orders of successful traders.

Deposit/Withdrawal Methods

9. Fondex added Bitcoin, Bitcoin Cash, Ethereum, and Litecoin as deposit and withdrawal methods.

Commonwealth of Independent States (CIS)

Merger and Acquisition

10. FXOpen's UK subsidiary, licensed by the FCA regulator, completes the acquisition of AMB Prime. After the completion of merge, the combined company will be named FXOpen EU. The organization will be headed by Maria Markidou.

Trading Schedules Changed

11. Due to the holiday in the US (Labor Day) September 7, 2020, brokers such as RoboForex, Forex Optimum, Larson&Holz, IFC Markets and so on, announced changes in trading schedules.

Broker Scam

12. The Forex Dealers Association (FDA) has reported over 1,500 complaints from broker clients over the past four years, mostly clients were deceived by the brokers who doesnt have the license from Central Bank. In this regard, FDA has warned clients that FDA cannot consider the citizen's complaint, if the company does not have a license from the regulator.

Financial Prestige Prize

13. JSC FINAM has become a laureate of the VIII Annual Financial Prestige Prize in the Best Content of the Site nomination in the Investment Companies sector. The award ceremony was held on August 25, 2020 at the Ministry of Finance of the Kaliningrad Region. “Financial Prestige” is the first inter-regional award in Russia for financial institutions, the main goal of which is to improve the quality of services in the regional financial market, which has been awarded since 2012 with the support of the Russian Ministry of Finance.