FOREX NEWS & BLOG

Prop Firm MyFundedFX Offers MetaTrader 5 Again Through Seacrest Markets

Prop Firm MyFundedFX Offers MetaTrader 5 Again Through Seacrest Markets

January 21, 2025 12:19 pm |

MyFundedFX
(MFFX) unveiled plans to allow non-U.S. traders to migrate back to the MetaTrader
5 (MT5) platform through the newly established brokerage Seacrest Markets
platform.

MyFundedFX Restores MetaTrader
5 Access

The
voluntary migration process opens immediately through an online submission
form, with the actual platform transition scheduled for January 24, 2025,
between 9:00 AM and 5:00 PM EST. Traders must ensure all positions are closed
and no pending orders remain before the migration.

“We
have been hard at work to bring this back to you and hopefully this will show
you we are dedicated to providing our customers with what they want,”
stated MFFX
management in their announcement to traders via Discord. “We would like to
thank you for your time and wish you the best on your trading journey.”

The company
emphasized that traders satisfied with their current platform can maintain
their existing arrangements via MatchTrade and DXtrade platforms. However,
those opting for migration must carefully manage their positions, as any open
trades during the transition will be automatically closed at prevailing market
rates without compensation.

“If you
fill out the submission form, please make sure all your positions are flat with no
pending orders. If you fill out the form and your account goes for
migration and you have open positions they will be closed at a loss or gain but
will not be compensated,” MFFX added.

MyFundedFX was among the companies that, a year ago,
found themselves amidst
regulatory and platform-related turmoil involving MetaQuotes, the provider
of the MetaTrader platform. At the time, the company acknowledged initiating a
migration of its clients to the DXtrade platform as the primary alternative to
MT.

Seacrest Markets

Access to
MetaTrader for MyFundedFX clients will be provided by FX/CFD broker Seacrest
Markets. If you haven’t heard of it before, that’s because it has only recently
been officially launched.

While the
platform has been operational for a few days, it has held an official license
from South Africa’s FSCA since September 2023. Currently, the broker encourages
new clients to test its platform through demo accounts.

Meanwhile, MFFX clients
are asking on Discord whether this partner is trustworthy and if transferring
their funds from other accounts to Seacrest Markets is safe.

“Hey,
is Seacrest Markets reliable in the long term with your team? I’m considering
purchasing a $50K account for the MT5 platform,” user nicknamed Neptic wrote.

“Consitency Rule” and Suspension of over
20 Countries

Finance
Magnates last
reported on MyFundedFX in October 2024, when its sister company,
MyFundedFutures (MFF), announced updates to its affiliate program. Under the
revised terms, affiliates failing to generate a sufficient number of “individual purchases” would be removed from the program.

MFF also
introduced compliance-related changes requiring direct collaboration with
U.S.-registered Futures Commission Merchants (FCMs). As a result, the
proprietary trading firm ceased offering services to residents of 21 countries.
While these individuals can no longer purchase new evaluations or challenges,
existing account holders in these regions remain unaffected.

Earlier, in
July, the U.S.-based proprietary trading company, rescinded its recently
implemented consistency rule after significant backlash from clients. The rule,
aimed at discouraging high-risk trading strategies, had been in effect for only
two weeks before being discontinued due to widespread criticism from traders.

This article was written by Damian Chmiel at www.financemagnates.com.

Feed from Financemagnates.com

MoneyMaker FX EA Trading Robot

read more
Robinhood and eToro Embrace Trump-Themed Meme Coins on Solana

Robinhood and eToro Embrace Trump-Themed Meme Coins on Solana

January 21, 2025 12:00 pm |

Robinhood has listed a Donald Trump-themed meme coin, named
TRUMP, on its spot trading platform. This token operates on the Solana
blockchain. The current price of TRUMP is $58.9, marking a 43% increase in the
past 24 hours.

Meanwhile eToro has added Official Trump ($TRUMP) to its
experimental category. This token was launched two days before the 47th US
President’s inauguration. However, $TRUMP is currently unavailable for users in
the UAE, Germany, and the USA.

Robinhood Adds TRUMP, Sparks Crypto Debate

The inclusion of TRUMP on Robinhood signals a growing
acceptance of meme coins in mainstream trading. This development has sparked
discussions within the crypto community regarding the role of such tokens in
the evolving market. Robinhood announced this addition on January 20, aiming to
diversify its cryptocurrency offerings.

TRUMP Launch Causes Solana Blockchain Congestion

The launch of TRUMP has led to increased activity on the
Solana blockchain, causing significant network congestion. Many users have
experienced delays and transaction failures. This congestion has also impacted
centralized exchanges like Binance, Robinhood, and Coinbase, raising concerns
about Solana’s scalability.

Developers and validators are actively working to address
these issues. Teams like Anza are focusing on improving the network’s
infrastructure to better manage such high levels of activity.

Trump Introduces $TRUMP Coin, Market Reacts

Donald
Trump has increased his involvement in the cryptocurrency space ahead of his
January 20 inauguration by launching a memecoin, $TRUMP. Finance Magnates reported that the
coin’s price quickly surged from a few cents to $14, sparking mixed reactions
among traders and analysts regarding its legitimacy and impact on the crypto
industry.

Trump made the announcement via his official Truth Social
and X accounts, confirming the coin’s connection to him. The launch was
described as a symbolic gesture reflecting his ideals and leadership, though
the coin’s official site clarifies it is not intended as a financial
instrument.

This article was written by Tareq Sikder at www.financemagnates.com.

Feed from Financemagnates.com

MoneyMaker FX EA Trading Robot

read more
Short-Term Analysis for Oil, Gold, and EURUSD for 21.01.2025

Short-Term Analysis for Oil, Gold, and EURUSD for 21.01.2025

January 21, 2025 11:58 am |

I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders. Gold continues to trade in a short-term uptrend. Major Takeaways USCrude: oil has reached the support (A) 76.35 – 76.05. Consider long trades near this zone. XAUUSD: gold is trying to continue rising with the target in the Target Zone 2773 – 2756. EURUSD: the euro has reversed its downtrend and reached all yesterday’s bearish targets. Oil Price Forecast for Today: USCrude Analysis… Read full author’s opinion and review in blog of #LiteFinance

Feed from Litefinance.com

MoneyMaker FX EA Trading Robot

read more
Germany ZEW survey current conditions -90.4 vs -93.0 expeccted

Germany ZEW survey current conditions -90.4 vs -93.0 expeccted

January 21, 2025 11:44 am |

  • Prior -93.1
  • Economic sentiment 10.3 vs 15.3 expected
  • Prior 15.7

After the fall in German economic sentiment to the lowest since May 2020 last month, we are seeing a marginal improvement this time around. However, that is largely negated by a considerable drop in the outlook reading. And that indicates worsening fears surrounding the prospects of the German economy to start the new year.

This article was written by Justin Low at www.forexlive.com.

Feed from Forexlive.com

MoneyMaker FX EA Trading Robot

read more
USDCAD Technical Analysis – The pair is still stuck in a range

USDCAD Technical Analysis – The pair is still stuck in a range

January 21, 2025 11:44 am |

Fundamental
Overview

The USD has been marginally
weaker recently due to lower than expected US inflation figures last week that
sent Treasury yields lower and made the market to price in higher chances of a
second rate cut by the end of the year.

Yesterday, the greenback
weakened across the board following a WSJ report saying that Trump would lay out the
trade vision but won’t impose tariffs yet. Tonight though, he spoke to the
media and said that he intends to impose 25% tariffs on Canada and Mexico next week.
Following the news, the US Dollar erased almost all the losses from the prior
day.

On the CAD side, as a
reminder, the BoC cut interest rates by 50 bps at the last policy meeting but dropped the
line saying “if the
economy evolves broadly in line with our latest forecast, we expect to reduce
the policy rate further”, which suggests that we reached the peak in “dovishness” and the central bank will now switch to 25 bps cuts and
will slow the pace of easing.

Today, we have the Canadian
CPI report which is expected to show some more easing in the underlying
inflation. The market is pricing an 80% chance of a 25 bps cut at the upcoming
meeting and a total of 60 bps of easing by year end.

USDCAD
Technical Analysis – Daily Timeframe

On the daily chart, we can
see that USDCAD broke below the major trendline yesterday but eventually
bounced back as Trump talked about 25% tariffs on Canada. The sellers will want
to see the price breaking below the trendline again to gain conviction for new
lows, while the buyers will continue to step in around the lows to position for
the rally into the 2020 high around the 1.4670 level.

USDCAD Technical
Analysis – 4 hour Timeframe

On the 4 hour chart, we can
see that the pair continues to range between the 1.4300 support and the 1.4470 resistance. The market
participants will keep on playing the range until we get a breakout on either
side.

USDCAD Technical
Analysis – 1 hour Timeframe

On the 1 hour chart, there’s
not much else we can add here as the buyers will continue to step in around the
bottom of the range, while the sellers will pile in around the top. The red
lines define the average daily range for today.

Upcoming
Catalysts

Today we have the Canadian CPI report. On
Thursday, we get the latest US Jobless Claims figures, while on Friday we
conclude the week with the Flash US PMIs.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

Feed from Forexlive.com

MoneyMaker FX EA Trading Robot

read more
Gold Prices Boosted After Trump’s Inauguration. Forecast as of 21.01.2025

Gold Prices Boosted After Trump’s Inauguration. Forecast as of 21.01.2025

January 21, 2025 11:39 am |

The previous trade war spurred XAUUSD quotes. Today, gold has a significant competitive advantage in the form of geopolitical factors. This provides the precious metal with a resilience that allows it to withstand strong headwinds. Let’s discuss these topics and make a trading plan. Major Takeaways Another trade war will support gold prices. Geopolitics is a safety cushion for XAUUSD quotes. The precious metal will enjoy the Fed’s rate cuts. Long trades opened at $2,715 should be kept open. Weekly Fundamental Forecast for Gold Gold’s reaction to falling Treasury yields and the US dollar’s worst performance since November 2023 was… Read full author’s opinion and review in blog of #LiteFinance

Feed from Litefinance.com

MoneyMaker FX EA Trading Robot

read more
This Bank Lost 8 Forex Traders But Still Made $50M – Here’s How

This Bank Lost 8 Forex Traders But Still Made $50M – Here’s How

January 21, 2025 11:27 am |

Nomura
Holdings is launching an aggressive rebuild of its foreign exchange (Forex)
options division following significant personnel departures in its key trading
hubs. According to Bloomberg, the move marks a critical pivot for the
Japanese financial giant’s derivatives strategy.

Nomura Revamps FX Options
Unit After Staff Exodus

The bank’s
FX options team, which recently secured impressive gains from US
election-related trading positions, has experienced a notable exodus of talent
over the past twelve months. Industry sources indicate that approximately eight
traders have departed from the bank’s London and New York offices, primarily
consisting of professionals who joined since 2022.

In response
to these challenges, Nomura has appointed David Leigh, a veteran trader
previously with Deutsche Bank, to spearhead the rebuilding efforts. Under the
remaining team’s leadership, including Nagaraj Pangal, the unit has
demonstrated resilience by generating approximately $50 million in recent
months, largely attributed to successful US presidential election-related
trading strategies.

“As a
profitable business for Nomura, we will continue to invest,” a Nomura
spokesperson told Bloomberg.

The
division has already recorded $60 million in revenue since the start of its
fiscal year in April, building on last year’s $50 million performance. Market
participants observed a significant rally in the dollar index during the period
surrounding Donald Trump’s electoral victory, creating favorable conditions for
currency traders.

In the
meantime, Nomura
has witnessed a 400% increase in client algorithmic FX trading since
January 2023.

Hunt for FX Traders

Leigh’s
immediate priority involves recruiting experienced traders to strengthen the
depleted team. The FX options market, known for its complexity and reliance on
manual price construction, demands highly skilled professionals who can
navigate its intricacies.

The
reconstruction effort follows the departure of Kevin Connors, who joined Nomura
in 2021 to expand its currency trading operations. Before his exit in September
2024, Connors had emphasized the strategic importance of the FX options desk in
enhancing the bank’s client offerings.

The timing
of Nomura’s rebuilding initiative coincides with broader industry momentum, as
global FX options revenue reached $2.5 billion in 2024, surpassing the previous
year’s $2.3 billion.

New European CEO

Leigh is
not the only new appointment at Nomura. As reported by Finance Magnates
two months ago, John Tierney has been named CEO of Nomura Europe Holdings and
Nomura International, succeeding Jonathan Lewis after a decade-long tenure.

Jonathan
Lewis, who served as CEO since December 2014, played a critical role in
navigating the company through major challenges, including Brexit, the COVID-19
pandemic, and significant regulatory reforms.

While
stepping down as CEO, Lewis will remain involved in the organization. He will
transition to non-executive roles and chair several subsidiary boards,
including Nomura Financial Products Europe and Instinet Europe.

As for
Leigh himself, his employment history until November 2024 was limited to
Deutsche Bank, where he spent nearly two decades. Throughout this time, he was
involved in FX market trading, and for the past several months, he served as
Head of European Foreign Exchange.

This article was written by Damian Chmiel at www.financemagnates.com.

Feed from Financemagnates.com

MoneyMaker FX EA Trading Robot

read more