Take a look at the latest happenings in last week’s news digest from around the forex. Here are some of the top headlines from last week.
The Financial Sector Conduct Authority (FSCA) last week warned the public to be cautious when conducting financial services related business with 6 new firms or individuals that are soliciting customers in South Africa jurisdiction without any licenses or are false authorized companies.
2. OvalX Sells Client Assets to Capital.com as Jump Capital Stops Support OvalX, a leading spread-betting and CFD provider based in London, reportedly is selling its client assets to Capital.com, a Forex and CFD broker. Details of the transaction hasn’t been disclosed.
In a meeting held recently with OvalX employees, Luca Merolla, CEO of OvalX, informed employees that the company’s controlling shareholder, an American venture capital firm Jump Capital, had decided to stop funding OvalX, which has been experiencing declining performance, potentially leading to the end of OvalX’s operations.
3. Niamh Byrne Leaves IG Group After 14 Years for Capital.com as Head of UK & Ireland
learned that Capital.com, the Forex and CFD broker, has tapped IG Group’s long-time employee Niamh Byrne to assume the role of Head of UK & Ireland.
Niamh has been part of IG Group, a global online trading company providing CFDs and Forex, for fourteen years in London. During this period, she served as Senior Institutional Sales & Client Manager first, then rose to Head of UK B2B2C Sales after around twelve years.
4. OANDA Reveals Change in Its Retail Trading Operations in Europe, Plans to Exit Malta
in March OANDA, a global leader in online multi-asset trading services, currency data and analytics, is planning to shut down its operations in Malta on March 17, 2023, and consolidate its European business under a regulated entity registered in Warsaw, Poland.
With this strategic adjustment, OEML “will cease to provide services currently provided on the basis of OANDA Europe Markets Limited Retail and Professional Clients Terms of Business (‘ToB’)”. Meanwhile, OANDA will consolidate and transfer its European business to OANDA TMS