Forex Brokers' Week Review - What's New Last Week?

A weekly brokers' review communicates the dynamics of their accomplishments, personnel changes and updated systems, and issues encountered in a given week.

Here, BrokersView lists the brief update news of ten brokers in last week - from 27 December, 2021 - 2 January, 2022.

1. IG Adds New Inflation Indices to Expand Its Offering

IG Group is adding new inflation indices to expand its offering of trading instruments.

The addition will allow IG's clients to get exposure to inflation all in one place. With IG, traders can take a position on the indices using spread bets and CFDs. When trading, traders will not take ownership of an asset, and will instead take a position on the price of the indices rising or falling in value.

The inflation indices contain a selection of gilt and TIPS ETFs that have a correlation with IG's 5-year UK or US inflation-linked bond yields, a commonly used benchmark for forward looking inflation expectations.

IG Names Nicos Demetriades as Managing Director and Head of Its Cyprus Arm - BrightPool

https://www.brokersview.com/news/ig-names-nicos-demetriades-as-managing-director-and-head-of-its-cyprus-arm---brightpool-6554

IG Group, the global leader in online trading headquartered in the UK, has selected Nicos Demetriades to assume the role of Managing Director and Head of thr group's Cyprus-based division - BrightPool Ltd (BrightPool).

2. FOREX.com Japan to Alter Margin Requirements for TRY Pairs

FOREX.com Japan, a provider of online Forex trading services in Japan, will make changes to trading conditions affecting Turkish lira (TRY) currency pairs. Last two weeks, FOREX.com Japan issued a warning against the volatility of TRY due to political and economic reasons.

After the closing of trading on last Thursday, December 30 (7:00 am on last Friday, 31st Japan time), the margin requirements for USD/TRY, TRY/JPY and EUR/TRY will increase twofold. 

3. Interactive Brokers Launches New Products on IBKR Platform

Interactive Brokers, an American multinational brokerage firm, has added a lot of new trading products on the IBKR platform.

The new additions are given below:

Cboe

Mini-Russell 2000 Index Options (MRUT)

CME Group

CME Micro Ether Futures (MET)

CME Micro Treasury Yield Futures – 2 Year (2YY)

CME Micro Treasury Yield Futures – 5 Year (5YY)

CME Micro Treasury Yield Futures – 10 Year (10Y)

CME Micro Treasury Yield Futures – 30 Year (30Y)

NYMEX/Comex

Silver Weekly Options (SI)

Micro WTI Crude Oil Futures (MCL)

Cbot

Chicago SRW Wheat Weekly Options (ZW)

The Small Exchange

SMFE Small Precious Metals Options (PRESME)

Small Stocks 75 Options on Futures (75SME)

SMFE Small Cryptocurrency Equity Index Futures (SCCX)

ICE

Mini MSCI EM Asia NTR Index Futures (ASN)

MSCI Europe NTR Index Futures (M1EU)

Eurex

Options on Euro-BTP Futures (BTP)

HKEX

HKFE FOP on Hang Seng China Enterprises Index Futures (HSCEI)

HKFE FOP on Hang Seng Index Futures (HSI)

HKFE MSCI China A 50 Connect Index Futures (MCA)

SGX

SGX USD / CNH Mini Futures (MUC)

4. eToro Expands Offering with Addition of Sandbox

eToro, an Israeli social trading and multi-asset brokerage company, announced that it has expanded its crypto offering with the addition of Sandbox (SAND).

eToro's 2021 Review: A Total of 898 Asset Additions

In early 2021, eToro reached a huge milestone: celebrating its record number of users on the platform – an astonishing 20 million.

As eToro grew immensely in its capacity as a platform, it also massively expanded the number of assets it offers:

• Cryptoassets: 27

• Stocks: 726

• IPOs: 32

• ETFs: 113

That is a total of 898 asset additions.

eToro Lowers Valuation to $8.8B to Save SPAC IPO

Retail FX broker eToro has lowered its valuation to $8.8 billion post IPO due to the company's plan to go public via a merger with special purpose acquisition company (SPAC) FinTech Acquisition Corp V in trouble. While the original deal announced in March 2021 was for eToro to be valued post-deal at about $10.4 billion.

5. ADSS' CCO and Head of Front Office Exit Company as Departures Continue

Abu Dhabi-headquartered brokerage ADSS, formerly known as ADS Securities, has announced the departures of two senior executives, Roland Danielczyk and Michael Taylor.

6. Michael Nichols Ends His Tenure at TopFX as Director Of Institutional Sales

Michael Nichols has announced his resignation from the role of Director Of Institutional Sales at TopFX , a Cyprus based FX broker and services provider.

TopFX to Expand Local Presence in MENA Region with New Office

TopFX, a Prime Brokerage firm that has been offering liquidity solutions since 2010, has opened a representative office in Dubai to cover Arabic speaking and MENA region.

The new TopFX office locates on the 29th floor of Burlington tower, and is led by Omar Al-Janabi, according to TopFX CEO Alex Katsaros. The new UAE operation is expected to spearhead the company's expansion in the whole of the MENA region.

TopFX Names Omar Al-Janabi as Head of MENA

TopFX, a retail and institutional FX broker based in Cyprus, has named Omar Al-Janabi as the company's Head of MENA. TopFX has opened a new office in Dubai, to serve Arabic speaking and MENA region clients.

7. Yiangos Georgiou Joins VT Markets as Head of Business Development in Cyprus

VT Markets, a global FX and CFD broker, has announced the appointment of Yiangos Georgiou as the new Head of Business Development in Cyprus.

Yiangos brings over 12 years of experience in the international financial services industry to the company. In his new position, Yiangos will support VT Markets in achieving its business development goals on a European level.

8. Rakuten Securities Australia Adds 9 New Metal Products to Expand Trading Offering

Rakuten Securities Australia, an online trading broker, is expanding its offering by introducing more trading products.

More specifically, the broker added nine new metal products, namely XAUEUR (Gold/Euro), XAUGBP (Gold/Sterling), XAUAUD (Gold/Australian Dollar), XAUCHF (Gold/Swiss Franc), XAUJPY (Gold/Yen), XAGEUR (Silver/Euro), XAGAUD (Silver/Australian Dollar), XPDUSD (Palladium), and XPTUSD (Platinum).

9. Markets.com Appoints Matan Shvili as New CEO

Markets.com, a global trading and investing brand owned by Finalto Group, has appointed Matan Shvili as its new Chief Executive Officer.

10. German Broker FXFlat Bank Extends Footprints into France

The leading Germany-based multi-asset broker FXFlat Bank AG is expanding into the neighboring country of France, as part of the company's strategic expansion plan to the second-largest market in Europe.