{"id":626266,"date":"2023-04-06T14:50:26","date_gmt":"2023-04-06T19:50:26","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/04\/06\/news-nuggets-6-april-fca-stops-wealthtek-roboforex-increases-partner-commissions\/"},"modified":"2023-04-06T14:50:26","modified_gmt":"2023-04-06T19:50:26","slug":"news-nuggets-6-april-fca-stops-wealthtek-roboforex-increases-partner-commissions","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/04\/06\/news-nuggets-6-april-fca-stops-wealthtek-roboforex-increases-partner-commissions\/","title":{"rendered":"News Nuggets | 6 April: FCA Stops WealthTek; RoboForex Increases Partner Commissions"},"content":{"rendered":"
\n

Balance Launches Bot for
\nRebalancing Crypto Portfolio<\/h2>\n

Binance, the world’s largest
\ncryptocurrency exchange by trading volume, has introduced Rebalancing Bot, a
\nnew feature that enables the exchange\u2019s users to \u201cautomatically adjust their
\ncryptocurrency portfolios to maintain their desired asset allocation with
\nease.\u201d<\/p>\n

Balance in a blog post<\/a> published on Thursday noted that the bot will help
\nits users to manage their risks and trade in line with their investment
\nobjectives. It can also help users increase returns on investment by selling
\novervalued assets and purchasing those that are undervalued.<\/p>\n

\u201cThe Rebalancing Bot can be used
\nto rebalance based on either pre-set time intervals or changes in a certain
\ncoin’s ratio,\u201d Balance explained.<\/p>\n

Bybit Introduces AI Tool and
\nPosition Builder to Clients<\/h2>\n

Bybit, a Dubai-based
\ncryptocurrency exchange, has expanded its client offerings with the
\nintroduction of two new features. The first is an artificial
\nintelligence-powered engine called \u2018Tools Discovery\u2019 while the second is a
\nportfolio builder called \u2018Position Builder\u2019. <\/p>\n

In separate announcements, Bybit explained that while the first product uses \u201cbacktested
\ndata\u201d to provide its users with personalized product and strategy
\nrecommendations, the other \u201cprovides smart strategy data for futures,
\nperpetuals, and options contracts, based on liquidity and price trends to help
\ntraders make advantageous decisions.\u201d<\/p>\n

The introduction of the two new products come less than a week after Bybit launched its new ‘optimized’ Web3 Staking Pool<\/a> to give its users access to its \u201cuncomplicated ETH staking options.\u201d The pool is aimed at future opportunities expected from the Shanghai Upgrade to the Ethereum blockchain.<\/p>\n

Crypto
\nCollections by Revolut<\/h2>\n

Revolut,
\nthe global financial super app boasting over 28 million users worldwide, has
\npresented Crypto Collections to its UK and EEA customers, introducing a new way
\nto explore and trade digital tokens.<\/p>\n

According
\nto Revolut’s press release, Crypto Collections categorize the 100+ tokens
\navailable within the app based on their underlying technology and use case.
\nCustomers can purchase an entire Collection, distributing their investment
\nevenly among all the tokens within it. <\/p>\n

Crypto
\nCollections examples include NFTs, DeFi, Metaverse and Layer 1 tokens. Users
\ncan also monitor the Collection as a whole through an aggregated view.<\/p>\n

Britannia Global Markets Promotes Sebastian Jones<\/h2>\n
\n

\"Sebastian<\/p>

\n

Sebastian Jones, Britannia Global Markets<\/p>\n<\/figcaption><\/figure>\n

Britannia
\nGlobal Markets, the complete multi-asset brokerage, has promoted its Head of
\nCommodities, Sebastian Jones, to the role of Head of Trading. Jones has been
\nconnected with the company since 2019, previously working for more than 18
\nyears as a Commodity Broker in Berkely Futures Limited.<\/p>\n

\u201cI\u2019m happy
\nto share that I\u2019m starting a new position as Head of Trading at Britannia
\nGlobal Markets Limited,\u201d Jones wrote on his LinkedIn profile.<\/p>\n

French
\nAMF Warns against Forex and Crypto Firms<\/h2>\n

The French
\nregulators, AMF<\/a> and ACPR, caution the public about the actions of multiple
\nentities offering Forex and crypto-asset derivatives investments in France
\nwithout possessing the required authorization.<\/p>\n

According
\nto the press release from 6 April 2023, the updated warning list includes cint.pro,
\ncintra.group, green-capitalz.com, hightrustcapital.com, ipgatetrade.pro, spotyfx.com,
\nstbmarkets.com and superether.io.<\/p>\n

At the time
\nof writing, most of these sites were still operating, offering their services
\nto retail investors.<\/p>\n

FCA Ceases WealthTek Operations
\n<\/h2>\n
\n

\"File\"<\/p>\n<\/figure>\n

The United Kingdom’s financial market regulator, FCA, has ordered<\/a> WealthTek Limited Liability Partnership, which operates with the trade name Vertem Asset Management and Malloch Melville, to cease operations immediately as serious regulatory and operational issues surfaced.\n<\/p>\n

The regulator also worked with the Northumbria Police for the arrest of a 48-year-old man in connection with WealthTek, which offers discretionary, advisory, and execution-only services to retail clients.\n<\/p>\n

Now, the FCA<\/a> has approached the High Court to appoint Shane Crooks, Mark Shaw and Emma Sayers of BDO LLP as interim managers of troubled WealthTek. However, the appointment decision is still pending with the court.<\/p>\n

Binance Declines to Buy Justin Sun’s Huobi Stake
\n<\/h2>\n

Binance<\/a> has rejected an offer to acquire the stakes of a rival crypto exchange Huobi owned by Justin Sun<\/a>, who is known for funding Tron, according to a Coindesk<\/em> report.\n<\/p>\n

\n

\"File\"<\/p>

\n

Justin Sun, Founder of TRON.<\/p>\n<\/figcaption><\/figure>\n

Binance, the largest crypto exchange regarding trading volume, turned down the offer due to Huobi’s ties with mainland China. However, none of the involved parties revealed anything officially.\n<\/p>\n

However, Sun’s ownership and stake in Huobi are private. About Capital purchased Huobi last October, but Sun’s representative denied any links to that Hong Kong-based investment company. However, Hubi confirmed in January that Sun is a leader in the crypto exchange.<\/p>\n

Fortex Brings One-Click Trading Feature
\n<\/h2>\n

Forrtex, the provider of the trading platform XForce<\/a>, has enhanced its offering by adding a one-click trading feature to allow traders to execute orders with the click of only a button.\n<\/p>\n

The new feature will allow traders to place orders directly on the chart without having to navigate through menus or input multiple parameters. It is made available for all asset classes on XForce, including forex, stocks, commodities, and cryptocurrencies.\n<\/p>\n

“One-Click Trading is a significant development for the platform, and the team has worked tirelessly to develop this feature. We are excited to see the positive impact it will have on our traders’ experience,” said the Director of Sales at Fortex<\/a>.<\/p>\n

RoboForex Increases Partner Commission
\n<\/h2>\n

RoboForex<\/a> has increased the commission for its partners<\/a> for several instruments, including Gold (XAU\/USD), Silver (XAG\/USD), and Crude Oil (Brent, WTI).\n<\/p>\n

\n

\"File\"<\/p>\n<\/figure>\n

It has doubled the commission in many cases. The account Partner commission for a lot of XAU\/USD was previously $4, which has now been increased to $8. For Brent, it is now $20 for a lot, up from the previous $10.\n<\/p>\n

The platform also enhanced the spread of all ECN and Prime accounts but did not reveal any details.<\/p>\n

ASIC cancels AFS Licence of Starfish Financial
\n<\/h2>\n

Australian financial market watchdog, ASIC<\/a>, has canceled the regulatory authorization<\/a>of Starfish Financial Services Pty Ltd that allowed the company to deal in interests in managed investment schemes to wholesale clients.\n<\/p>\n

The cancellation of the Australia Financial Services (AFS) license came as Starfish failed to maintain the required organizational competence to provide the financial services covered by its AFS license and to meet its financial reporting obligations.\n<\/p>\n

Starfish, which obtained the AFS license in October 2017, is now permitted to offer only necessary financial services until 30 April, during its winding down process.<\/p>\n<\/div>\n

\n

Balance Launches Bot for
\nRebalancing Crypto Portfolio<\/h2>\n

Binance, the world’s largest
\ncryptocurrency exchange by trading volume, has introduced Rebalancing Bot, a
\nnew feature that enables the exchange\u2019s users to \u201cautomatically adjust their
\ncryptocurrency portfolios to maintain their desired asset allocation with
\nease.\u201d<\/p>\n

Balance in a blog post<\/a> published on Thursday noted that the bot will help
\nits users to manage their risks and trade in line with their investment
\nobjectives. It can also help users increase returns on investment by selling
\novervalued assets and purchasing those that are undervalued.<\/p>\n

\u201cThe Rebalancing Bot can be used
\nto rebalance based on either pre-set time intervals or changes in a certain
\ncoin’s ratio,\u201d Balance explained.<\/p>\n

Bybit Introduces AI Tool and
\nPosition Builder to Clients<\/h2>\n

Bybit, a Dubai-based
\ncryptocurrency exchange, has expanded its client offerings with the
\nintroduction of two new features. The first is an artificial
\nintelligence-powered engine called \u2018Tools Discovery\u2019 while the second is a
\nportfolio builder called \u2018Position Builder\u2019. <\/p>\n

In separate announcements, Bybit explained that while the first product uses \u201cbacktested
\ndata\u201d to provide its users with personalized product and strategy
\nrecommendations, the other \u201cprovides smart strategy data for futures,
\nperpetuals, and options contracts, based on liquidity and price trends to help
\ntraders make advantageous decisions.\u201d<\/p>\n

The introduction of the two new products come less than a week after Bybit launched its new ‘optimized’ Web3 Staking Pool<\/a> to give its users access to its \u201cuncomplicated ETH staking options.\u201d The pool is aimed at future opportunities expected from the Shanghai Upgrade to the Ethereum blockchain.<\/p>\n

Crypto
\nCollections by Revolut<\/h2>\n

Revolut,
\nthe global financial super app boasting over 28 million users worldwide, has
\npresented Crypto Collections to its UK and EEA customers, introducing a new way
\nto explore and trade digital tokens.<\/p>\n

According
\nto Revolut’s press release, Crypto Collections categorize the 100+ tokens
\navailable within the app based on their underlying technology and use case.
\nCustomers can purchase an entire Collection, distributing their investment
\nevenly among all the tokens within it. <\/p>\n

Crypto
\nCollections examples include NFTs, DeFi, Metaverse and Layer 1 tokens. Users
\ncan also monitor the Collection as a whole through an aggregated view.<\/p>\n

Britannia Global Markets Promotes Sebastian Jones<\/h2>\n
\n

\"Sebastian<\/p>

\n

Sebastian Jones, Britannia Global Markets<\/p>\n<\/figcaption><\/figure>\n

Britannia
\nGlobal Markets, the complete multi-asset brokerage, has promoted its Head of
\nCommodities, Sebastian Jones, to the role of Head of Trading. Jones has been
\nconnected with the company since 2019, previously working for more than 18
\nyears as a Commodity Broker in Berkely Futures Limited.<\/p>\n

\u201cI\u2019m happy
\nto share that I\u2019m starting a new position as Head of Trading at Britannia
\nGlobal Markets Limited,\u201d Jones wrote on his LinkedIn profile.<\/p>\n

French
\nAMF Warns against Forex and Crypto Firms<\/h2>\n

The French
\nregulators, AMF<\/a> and ACPR, caution the public about the actions of multiple
\nentities offering Forex and crypto-asset derivatives investments in France
\nwithout possessing the required authorization.<\/p>\n

According
\nto the press release from 6 April 2023, the updated warning list includes cint.pro,
\ncintra.group, green-capitalz.com, hightrustcapital.com, ipgatetrade.pro, spotyfx.com,
\nstbmarkets.com and superether.io.<\/p>\n

At the time
\nof writing, most of these sites were still operating, offering their services
\nto retail investors.<\/p>\n

FCA Ceases WealthTek Operations
\n<\/h2>\n
\n

\"File\"<\/p>\n<\/figure>\n

The United Kingdom’s financial market regulator, FCA, has ordered<\/a> WealthTek Limited Liability Partnership, which operates with the trade name Vertem Asset Management and Malloch Melville, to cease operations immediately as serious regulatory and operational issues surfaced.\n<\/p>\n

The regulator also worked with the Northumbria Police for the arrest of a 48-year-old man in connection with WealthTek, which offers discretionary, advisory, and execution-only services to retail clients.\n<\/p>\n

Now, the FCA<\/a> has approached the High Court to appoint Shane Crooks, Mark Shaw and Emma Sayers of BDO LLP as interim managers of troubled WealthTek. However, the appointment decision is still pending with the court.<\/p>\n

Binance Declines to Buy Justin Sun’s Huobi Stake
\n<\/h2>\n

Binance<\/a> has rejected an offer to acquire the stakes of a rival crypto exchange Huobi owned by Justin Sun<\/a>, who is known for funding Tron, according to a Coindesk<\/em> report.\n<\/p>\n

\n

\"File\"<\/p>

\n

Justin Sun, Founder of TRON.<\/p>\n<\/figcaption><\/figure>\n

Binance, the largest crypto exchange regarding trading volume, turned down the offer due to Huobi’s ties with mainland China. However, none of the involved parties revealed anything officially.\n<\/p>\n

However, Sun’s ownership and stake in Huobi are private. About Capital purchased Huobi last October, but Sun’s representative denied any links to that Hong Kong-based investment company. However, Hubi confirmed in January that Sun is a leader in the crypto exchange.<\/p>\n

Fortex Brings One-Click Trading Feature
\n<\/h2>\n

Forrtex, the provider of the trading platform XForce<\/a>, has enhanced its offering by adding a one-click trading feature to allow traders to execute orders with the click of only a button.\n<\/p>\n

The new feature will allow traders to place orders directly on the chart without having to navigate through menus or input multiple parameters. It is made available for all asset classes on XForce, including forex, stocks, commodities, and cryptocurrencies.\n<\/p>\n

“One-Click Trading is a significant development for the platform, and the team has worked tirelessly to develop this feature. We are excited to see the positive impact it will have on our traders’ experience,” said the Director of Sales at Fortex<\/a>.<\/p>\n

RoboForex Increases Partner Commission
\n<\/h2>\n

RoboForex<\/a> has increased the commission for its partners<\/a> for several instruments, including Gold (XAU\/USD), Silver (XAG\/USD), and Crude Oil (Brent, WTI).\n<\/p>\n

\n

\"File\"<\/p>\n<\/figure>\n

It has doubled the commission in many cases. The account Partner commission for a lot of XAU\/USD was previously $4, which has now been increased to $8. For Brent, it is now $20 for a lot, up from the previous $10.\n<\/p>\n

The platform also enhanced the spread of all ECN and Prime accounts but did not reveal any details.<\/p>\n

ASIC cancels AFS Licence of Starfish Financial
\n<\/h2>\n

Australian financial market watchdog, ASIC<\/a>, has canceled the regulatory authorization<\/a>of Starfish Financial Services Pty Ltd that allowed the company to deal in interests in managed investment schemes to wholesale clients.\n<\/p>\n

The cancellation of the Australia Financial Services (AFS) license came as Starfish failed to maintain the required organizational competence to provide the financial services covered by its AFS license and to meet its financial reporting obligations.\n<\/p>\n

Starfish, which obtained the AFS license in October 2017, is now permitted to offer only necessary financial services until 30 April, during its winding down process.<\/p>\n<\/div>\n

Read More<\/a>
\n Finance Magnates Staff<\/p>\n","protected":false},"excerpt":{"rendered":"

Balance Launches Bot for Rebalancing Crypto PortfolioBinance, the world’s largest cryptocurrency exchange by trading volume, has introduced Rebalancing Bot, a new feature that enables the exchange\u2019s users to \u201cautomatically adjust their cryptocurrency portfolios to maintain their desired asset allocation with ease.\u201dBalance in a blog post published on Thursday noted that the bot will help its<\/p>\n","protected":false},"author":1,"featured_media":626267,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33248,25794],"tags":[],"class_list":{"0":"post-626266","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-april","8":"category-nuggets"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/626266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=626266"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/626266\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/626267"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=626266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=626266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=626266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}