IC Markets Secures Regulatory Authorization in Kenya
IC Markets, a forex and contracts for difference (CFDs) broker, has obtained a regulatory license in Kenya. The license was granted by the Capital Markets Authority (CMA) to IC Markets Kenya Limited, allowing them to operate as a non-dealing online foreign exchange broker. This development is part of a trend of increasing demand for licenses in Kenya's intermediary sector, which promotes competition, innovation, and accessibility of capital markets products and services to retail investors.
EBC Financial Group (EBC) has been recognized as the "Most Efficient Broker" in the 2024 FXDailylnfo.com Forex Broker Award, reflecting its commitment to providing a smooth and efficient trading experience. EBC prioritizes efficiency through advanced technology, allowing for swift order execution and reliable connectivity. With 24/7 customer support, EBC aims to enhance the trading experience and set new standards in forex trading.
Robinhood's cryptocurrency division, Robinhood Crypto, has received a "Wells notice" from the SEC regarding its cryptocurrency listings, custody practices, and operational activities. The notice serves as a preliminary warning before a potential civil lawsuit. The alleged violations include sections of the Securities Exchange Act of 1934. The SEC may take actions such as civil injunctive action, administrative proceedings, or a cease-and-desist order. In the past, Robinhood discontinued support for certain tokens referenced as securities in SEC lawsuits against other exchanges. This is not the first time Robinhood has received a subpoena related to its crypto operations.
Saxo Bank, a Copenhagen-based online trading and investment specialist, reported strong trading results for April 2024. Total multi-asset volumes reached $482.7 billion, a 28% increase compared to March's $377.7 billion. The growth was driven by high levels of client trading activity in Equities ($303.7 billion) and Commodities ($70.7 billion), which saw increases of 27% and 60% respectively. FX trading volume rose by 17% to $99.3 billion, while fixed-income trading decreased by 3% to $9.0 billion.
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