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Abstract:BidX Markets has undergone a rebranding initiative and is now officially known as Multi Asset Solutions Limited.
Effective February 28, 2024, BidX Markets has undergone a rebranding initiative and is now officially known as Multi Asset Solutions Limited, as per the documentation filed with the UK government.
This London-based liquidity solutions provider has retained its commitment to offering tailored access to liquidity, connectivity, and distribution services for a diverse clientele, including brokers, asset managers, funds, professional traders, and established brokers.
BidX Markets made headlines last year by introducing an enticing offer, providing clients with an opportunity to earn up to 5.1% interest on uninvested cash balances, with the most lucrative rates applicable to USD and GBP. This innovative offering allows clients to optimize their cash resources by allocating idle funds into interest-bearing accounts. Simon Blackledge, the firm's CEO, emphasized the strategic advantage for clients, enabling them to maximize their cash and capitalize on market opportunities.
However, the timing of BidX's announcement sparked inquiries, particularly in the context of regulatory influence, given the Financial Conduct Authority's (FCA) warning against “double dipping” practices in the UK's financial sector. The FCA specifically addressed concerns related to retaining interest on cash balances and imposing additional fees, underscoring heightened regulatory scrutiny.
Responding promptly to regulatory requirements, BidX Markets, headquartered in London and regulated by the FCA, ensured compliance and transparency in its offerings. With a strategic focus on forex, CFDs trading, and spread betting services, BidX is poised to expand its market presence and continue delivering value to institutional and professional clients.
In a notable organizational development, BidX Markets has appointed Liam Bonfield as its new Chief Finance Officer. In his new capacity, Bonfield will oversee financial planning, reporting, and analysis at BidX Markets, bringing with him previous experience as the CFO at Valutrades.
In terms of financial performance, BidX Markets reported a remarkable growth of 253% in revenue for the fiscal year 2023, reaching an annual revenue milestone of £1,046,768. The company also reported a pre-tax profit of £35,566, showcasing a substantial improvement from the preceding year. These financial indicators underscore BidX's resilience and success in navigating the dynamic landscape of financial markets.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Dubai, UAE — The WikiEXPO Dubai 2024, hosted by WikiGlobal, successfully concluded on November 27, attracting wide attention from the global financial technology sector. The event was co-organized by WikiFX and the Australian Computer and Law Association (AUSCL), with strong support from the Mauritius Financial Services Institute (FSI) and the government of Liberland. Through an innovative hybrid model of online and offline participation, WikiEXPO Dubai 2024 achieved an impressive 1,267,886 online views and gathered 3500+ on-site participants, bringing together 550+ industry leaders and attracting close coverage from over 1300+ global media outlets.
The German Federal Financial Supervisory Authority (BaFin) has recently flagged a fraudulent clone of the licensed retail FX and CFD broker Pepperstone. This fake entity, operating under the domain pepperstone.life, has been offering financial and investment services without obtaining the necessary regulatory authorisation.
The Royal Malaysian Police (PDRM) have raised concerns over the increasing use of TikTok by criminal syndicates to lure victims into investment scams.
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