Before we get to this week’s top stories, we’re happy to share our June LinkedIn Analytics competitor data that shows this – once again! – FNG articles dominated social media, as well as Search and Total Visitors…
With other “FX industry news” sites basically copying FNG headlines and publishing promotional content (with some more great examples of all this in the past week), serious traders and FX industry executives have been engaging and sharing original and exclusive FNG news articles.
Do you want your brand to be seen by the hundreds of thousands of visitors who come to get their news on FNG every month? Come talk to us!
And now, on to the news of the last seven days…
What led to Retail FX and CFDs broker London Capital Group (LCG) shutting down both its FCA-regulated and offshore businesses?
Who is behind the launch of two new brands in the online trading space – SparkMarkets and BullRush?
What is NAGA Group’s new strategy now that its merger with Capex.com has received all the necessary regulatory approvals?
What happened late Thursday night in front of the offices of an advertising agency in Limassol?
Where did former IG Group CEO Charlie Rozes find a new position?
Some of the most read and commented FX/CFD industry news that appeared in the last seven days on FNG include:
Exclusive: LCG offshore arm FlowBroker also goes out of business following FlowBank bankruptcy. Exclusive FNG… Following our previous exclusive report from late June that London-based Retail FX and CFDs broker London Capital Group Ltd (or LCG, on the lcg.com website) had its FCA license and business severely restricted, FNG has learned that The group’s offshore arm, LCG Capital Markets Limited in the Bahamas, operating under the LCG and FlowBroker brands, has also effectively closed.
The CFD brokerage office in Limassol was hit by gunfire. Cypriot news websites Cyprus Mail and in-Cyprus report details of a shooting that took place late Thursday outside the offices of an (unknown) Limassol-based Retail FX and CFD broker. According to the Cyprus Mail, around midnight an office building in Limassol was shot six times. According to information, the attacker was riding a black motorcycle with another person. The motorbike had no license plate and the suspects were both wearing helmets. (Note: Later reports out of Cyprus state that the target of the shooting was the offices of an advertising agency owned by a 32-year-old foreigner.)
NAGA Group Unveils Everything Money Strategy as Revenue Grows 56% in 1H 2024 Socially Focused Retail FX and CFD Broker and Copy NAGA Group AG (ETR:N4G) held a Capital Markets Day webinar late on Thursday, outlining the company’s strategic plans as it prepares to merge with Capex.com, as well as an update on performance from 2024 to date. NAGA has unveiled its new Everything Money strategy, with its vision to simplify money management and investing by creating the ultimate ‘Everything Money’ platform.
Exclusive: Prospero Markets losses exceed $25 million, liquidators expect full refunds to clients. Exclusive FNG… FNG has learned that BRI Ferrier, the firm hired to oversee the liquidation of (ex-ASIC licensed) Retail FX and CFDs broker Prospero Markets in Australia, has completed its first review and Statutory Report to creditors in relation to Prospero , revealing some pretty big losses at the company, but also data that points to an expected full refund to Prospero’s customers when all is said and done.
Top FX industry executive moves reported on FNG this week included:
❑ Exclusive: Trading.com/FXDD alum Lubo Kaneti joins SparkMarkets as CEO.
❑ Exclusive: FPFX COO Trent Hoerr leaves to become CEO of trading contest startup BullRush.
❑ Pepperstone CMO Tony Gruebner is leaving.
❑ Exclusive: The CEO of BP Prime (Black Pearl Securities), Zuzana Hashemi, is leaving.
❑ Former IG Group CEO Charlie Rozes joins BMS Insurance.
❑ Exclusive: SquaredFinancial hires Tawfiq Rabi as BizDev Manager.