Broker Updates on Sept. 7-13

Vietnam

Deposit Removed

1. ATFX removes minimum deposit for non-EU clients for trading tools. The $2,000 deposit to use trading tools Autochartist and Trading Central has been removed.

RevenueDecline

2. ATC brokers reports massive decline in 2019-20 revenue. The broker did not specify any reason behind this poor performance in the last financial year.

USGFX Liquidation

3. Court orders USGFX enter liquidation, BRI Ferrier remains as liquidators. USGFX applied to the Federal Court of Australia to have an alternate liquidator appointed to the broker.

Deposits Dropped

4. Retail FX deposits drop at Gain Capital, IG US and OANDA in July. Only two of the five FX firms listed notched increases in retail assets, this time was Interactive Brokers and TD.

Indonesia

Business ActivitiesFrozen

5. Indonesian BAPPEBTI freezes the business activities of PT.Pruton Mega Berjangka, a representative of futures brokers.

Announcement Issued

6. The proliferation of using the name of Indonesian regulated AsiatradeFX to trap the general public made the broker issue an announcement to raise public awareness.

Eligibility RequirementsTightened

7. Robinhood tightens eligibility requirements to make it harder for options traders to qualify to trade sophisticated products.

Thailand

ScamWarning

8. The Cyprus regulator - CySEC has earlier today warned investors that the websites listed below do not belong to an entity authorised to provide investment services in the country.

· classicfx24trade.com

· safeoptions24.com

· pipmaster.org

· atfxtrade.com

· en.investup.cc

· fxbulls.com

Financials Published

9. Saxo bank published its detailed financials for the first half of 2020, showing a net profit of $84.39 million, pivoting from a net loss of $22.08 million in the first half of last year.

Commonwealth of Independent States (CIS)

Floating Commissions

10. Financial dealer FXOpen informed clients that starting from August 1, the approach to determining the size of trading commissions will change. Now the transaction fee will be calculated as a percentage of the transaction amount. The amount of the commission will depend on the amount of free funds on the account and the total volume of trading. The transaction price will be calculated once a month.

LiteForex Warning

11. LiteForex reports that unknown persons are illegally using the company's trademark, creating fake websites, fake groups, as well as chats on social networks and instant messengers. The company also reminds that it does not communicate with clients through social networks and instant messengers - the official team communicates only through mail, the phone specified in your personal account or through the internal communication channel of the support group on the online platform.

Platform to be Provided

12. FXtraders.info is ready to provide its portal as a platform for posting materials that will really be useful to its users. In return, it offers the opportunity to declare yourself as a professional and makes money.

Contest Started

13. NPBFX announced the start of the “Battle of Traders” contest on demo accounts. The prize fund of the competition is $ 2,500, credited to a real account. The winners will be 10 traders who managed to maximize the initial deposit during the competition.