FOREX NEWS & BLOG

INGOT Brokers Secures SCA License for Forex in UAE Following Kenya’s CMA

INGOT Brokers Secures SCA License for Forex in UAE Following Kenya’s CMA

March 10, 2025 2:42 pm |

INGOT Brokers, a global brokerage firm, has made a notable
advancement in its expansion plans by acquiring a license from the Securities
and Commodities Authority (SCA) in the United Arab Emirates (UAE).

This follows the company’s earlier announcement regarding
the approval from the Capital Markets Authority (CMA) in Kenya, which granted
INGOT Africa Ltd. a license to operate as a non-dealing online forex broker in
Kenya. The platform in Kenya is already active, offering forex and contracts
for differences (CFDs) on indices, stocks, commodities, and exchange-traded
funds (ETFs).

INGOT Brokers Secures SCA License, UAE

The SCA license allows INGOT Brokers to introduce and
promote financial products and services in the UAE, furthering its strategy to
expand its global presence. The UAE is known for its established financial
markets, and INGOT Brokers aims to serve traders in this region with a variety
of financial instruments, advanced trading platforms, and professional support.

The SCA ensures that firms comply with industry standards. The
company’s entry into the UAE market is part of its broader effort to build a
trusted, transparent, and secure trading environment for clients globally.

According to the firm, this move reflects INGOT Brokers’
focus on establishing a presence in key financial hubs and providing traders
with the necessary resources to navigate global markets.

Receives Licenses in Kenya, Seychelles

The
Kenyan regulator issued the license just a few months after INGOT Brokers
received similar approval from South Africa’s Financial Sector Conduct
Authority (FSCA).

In July 2022, the broker further expanded its global
presence by obtaining a license from the Financial Services Authority (FSA) in
Seychelles. The company also set up offices in South Africa and Seychelles.
Founded in 2006, INGOT Brokers is regulated in Australia and Jordan.

INGOT Brokers Appoints Former BDSwiss Executives

Meanwhile, INGOT
Brokers has appointed two former BDSwiss executives: Andreas Andreou as
Chief Sales Officer and Marios Morfakis as Head of Business Development. Both
individuals left BDSwiss during a period when many other employees also
departed.

Following his departure, Andreou co-founded a proprietary
trading platform, where he currently serves as co-CEO. He confirmed to Finance
Magnates that he will continue in this role while taking on his new
responsibilities at INGOT.

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

Feed from Financemagnates.com

MoneyMaker FX EA Trading Robot

read more
US stock futures point to an ugly start to the week

US stock futures point to an ugly start to the week

March 10, 2025 2:15 pm |

S&P 500 futures are down 76 points, or 1.3% in yet-another Monday massacre. Nasdaq futures are down 1.6% with some of the memes/momentum stocks looking particularly ugly.

CNN’s Fear and Greed index is at 18 at the moment, which is ‘extreme fear’. To be far, it was also at this level a week ago, though that was partly on uncertainty around Canada-Mexico tariffs.

The message that stock markets and the economy need to ‘take their medicine’ before the economy can turn is a challenging one for risk assets and risks spiralling.

I’m starting to sense that sentiment is too bearish. Yes, the AI trade will have a reckoning and Trump isn’t helping with tariffs but, ultimately, you have to believe that tax cuts and deregulation are coming. It might take until after April 2 tariffs to get some sense of clarity but Hassett today hinted that Canada-Mexico tariffs could come off then.

I don’t hate the setup here.

This article was written by Adam Button at www.forexlive.com.

Feed from Forexlive.com

MoneyMaker FX EA Trading Robot

read more
PU Prime Expands Deposit Bonus Promotion to Copy Trading Accounts

PU Prime Expands Deposit Bonus Promotion to Copy Trading Accounts

March 10, 2025 2:15 pm |

PU Prime, a globally recognized CFD broker, has announced an update to its Deposit Bonus Promotion. Previously available only for standard trading accounts, this popular bonus is now extended to Copy Trading accounts, enabling traders to enhance their trading potential by copying top-performing traders with additional credit.

More Trading Power for Copy Traders

With this expansion, Copy Trading users can now take advantage of a percentage of deposit bonus when funding their accounts. This provides more capital to mirror the strategies of seasoned traders, creating greater opportunities in the financial markets.

Claiming the bonus

1. Activation – By logging in to the Client Portal and enabling the promotion under the “Promotions” tab.

2. Depositing – Users should ensure the deposit is made only after activating the promotion.

3. Receiving Bonus – The bonus will be credited to user’s account, ready to enhance your trading potential.

Key Benefits for Traders

Lower Entry Barrier – Allows users to participate with increased capital while replicating professional strategies.

More Flexibility – Provides additional trading capacity without requiring increased personal capital.

Maximized Profit Potential – Enables traders to follow established strategies and market movements.

Advanced Copy Trading with PU Prime

PU Prime’s Copy Trading feature allows users to replicate expert traders’ moves in real time, making it easier for both beginners and experienced traders to benefit from market expertise. Additionally, the newly available Deposit Bonus Promotion offers eligible traders an opportunity to increase their trading funds.

About PU Prime

Founded in 2015, PU Prime (https://www.puprime.com) is a leading global fintech company providing innovative online trading solutions. Today, PU Prime offers a diverse range of financial products across various asset classes, including forex, commodities, indices, and cryptocurrencies. Committed to providing advanced technology and educational resources, PU Prime supports traders and investors at every stage, from beginner to professional. Their platform serves a wide-reaching international audience, with over 40 million app downloads worldwide. PU Prime is dedicated to enabling financial success and fostering a global community of empowered traders.

This article was written by FM Contributors at www.financemagnates.com.

Feed from Financemagnates.com

MoneyMaker FX EA Trading Robot

read more
USDCAD moves higher to start the NA session

USDCAD moves higher to start the NA session

March 10, 2025 1:53 pm |

The USDCAD saw a modest decline at the start of the new trading week following Mark Carney’s victory in Canada’s Liberal Party leadership race, setting him up to replace Justin Trudeau as prime minister. Carney, a former central bank chief of both Canada and the U.K., is expected to call an election soon, aiming to leverage shifting political momentum against U.S. President Trump’s 25% tariffs on Canada.

Technically, the pair remained below the 100-hour moving average (MA) throughout the Asian session but gained upside momentum during the European session. As North American traders entered, the price moved above the 200-hour MA at 1.4391, which coincides with the 38.2% retracement of the February rally, reinforcing its technical significance. Holding above 1.4391 now serves as a key support level.

The next major test is the Friday high at 1.44258. A break above that level, and the 1.4448-1.4471 would be targeted. That is the upper boundary of the consolidation range from mid-December to early February (1.4268–1.4471). While tariff-related volatility has led to temporary breaks outside this “Red Box” (see chart) range, last week’s dip below 1.4268 failed to sustain, and Friday’s bounce from that level reaffirmed its importance as support.

Traders will be closely watching whether the pair sustains its move above 1.4391 and whether it can push through key resistance levels in the sessions ahead.

OVERVIEW TECHNICALLY…Buyers are more in control with the price above the 200-hour MA. Move below the 200 hour MA and then the 100 hour MA and the bias shifts. Eyeing 1.4448 to 1.4471 as the target resistance.

This article was written by Greg Michalowski at www.forexlive.com.

Feed from Forexlive.com

MoneyMaker FX EA Trading Robot

read more
Phoenix Group CEO Acquires 20 Million Shares as Firm Weighs U.S. Listing

Phoenix Group CEO Acquires 20 Million Shares as Firm Weighs U.S. Listing

March 10, 2025 1:50 pm |

Phoenix
Group (ADX: PHX) CEO and Co-Founder Munaf Ali has significantly increased his
ownership position in the Bitcoin (BTC) mining firm, purchasing more than 20
million ordinary shares through open market transactions since November 2024,
the company announced today (Monday).

The
substantial share acquisition comes as Phoenix Group continues to evaluate a
potential U.S. stock listing while expanding its North American Bitcoin mining
operations.

Phoenix Group CEO Acquires
20 Million Shares

Phoenix
Group is the first publicly listed cryptocurrency mining company on the Abu
Dhabi stock exchange, having gone public in late 2023. While the company’s
stock initially saw gains, it has been on a downward trend throughout 2024,
despite rising Bitcoin prices. During Monday’s trading session, the stock
dropped below AED 1 ($0.26), officially reaching penny stock status.

The share
buyback by the CEO and Co-Founder could potentially serve not only as a means
of reducing the number of shares in circulation but also as an attempt to boost
the stock price. However, since the buyback began in November, the stock’s
value has still declined by approximately 25% to its current price levels.

“As we
enter a year of high-impact expansion, I firmly believe in Phoenix Group’s
long-term potential,” Ali said in a statement. “Increasing my holding
reflects my belief in our differentiated strategy, high-quality operations, and
future growth.”

Last month,
the company published its first report following its $370 million IPO success,
revealing a 50% increase in net profit despite a significant revenue decline.
Revenue shrank threefold to $288 million, while net profit stood at $221
million.

Bitcoin Miner Eyes Wall
Street

A potential
solution to the declining valuation could be a debut on the U.S. stock
exchange. Wall Street is currently home to the largest publicly traded
cryptocurrency mining companies, including MARA, which remains a popular
indirect way for many investors to gain exposure to Bitcoin prices on regulated
markets.

“Phoenix
Group continues to evaluate the potential for a future U.S. listing, aligning
with its ongoing expansion into the North American bitcoin mining sector,” the
company commented in the official statement.

The
difference is clearly visible—NYSE is the largest stock exchange in the world,
with a total market capitalization of $26 trillion. ADX is one of the largest
exchanges in the Middle East, but its market cap stands at $850 billion, which
is 30 times smaller. The number of listed companies is also significantly
lower.

“Phoenix
Group is at the forefront of digital asset mining, and as a Board we remain
fully focused on delivering growth and sustainable value creation for our
shareholders,” concluded the CEO.

Phoenix
Group’s U.S. expansion strategy aligns with its broader goals of scaling
high-margin self-mining operations while geographically diversifying its asset
base. The Abu Dhabi-based technology conglomerate currently operates mining
facilities in the United States, Canada, Oman, Ethiopia, and the UAE, with a
total mining capacity of 451 megawatts.

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

Feed from Financemagnates.com

MoneyMaker FX EA Trading Robot

read more
GBP/USD: Elliott Wave Analysis and Forecast for 07.03.25 – 14.03.25

GBP/USD: Elliott Wave Analysis and Forecast for 07.03.25 – 14.03.25

March 10, 2025 1:40 pm |

Major Takeaways Main scenario: After the correction ends, consider short positions below the level of 1.3443 with a target of 1.2100 – 1.1900. A sell signal: the level of 1.3443 is broken to the downside. Stop Loss: above 1.3490, Take Profit: 1.2100 – 1.1900. Alternative scenario: Breakout and consolidation above the level of 1.3443 will allow the pair to continue rising to the levels of 1.3700 – 1.4000. A buy signal: the level of 1.3443 is broken to the upside. Stop Loss: below 1.3390, Take Profit: 1.3700 – 1.4000. Main Scenario Consider short positions below the level of 1.3443 with… Read full author’s opinion and review in blog of #LiteFinance

Feed from Litefinance.com

MoneyMaker FX EA Trading Robot

read more
ECB Halts Euro Rally. Forecast as of 07.03.2025

ECB Halts Euro Rally. Forecast as of 07.03.2025

March 10, 2025 1:32 pm |

Delays in tariffs are now seen as a positive factor for the US dollar, as they are likely to slow the US economy. Meanwhile, the ECB is preparing for trade wars, weighing on the euro. Let’s discuss these topics and make a trading plan for the EURUSD pair. Major Takeaways The US has waived tariffs on some imports from Mexico and Canada. The ECB lowers its GDP forecast and raises its inflation forecast. Investors are waiting for the US employment report. Short trades on the EURUSD pair can be opened if the price falls below 1.0765. Daily Euro Fundamental Forecast The White… Read full author’s opinion and review in blog of #LiteFinance

Feed from Litefinance.com

MoneyMaker FX EA Trading Robot

read more
ECB’s Nagel unveils a 12-point vision for German reform

ECB’s Nagel unveils a 12-point vision for German reform

March 10, 2025 1:26 pm |

This speech is a bit out of the central bank’s lane. With Mark Carney about to be named Prime Minister, expect a few more central bankers to start sounding like politicians.

In this speech German Bundesbank President Joachim Nagel outlined a 12-point plan to boost German growth.

  • The ECB rate cut of 25bps in March was appropriate given progress on price stability
  • Germany’s potential growth has fallen to just 0.4% annually – a full percentage point lower than in the previous decade

Here are the 12 points:

  1. Increase part-time workers’ hours by reforming tax incentives and improving childcare
  2. Promote labor-focused immigration with faster visa processes and better integration
  3. Improve work incentives for welfare recipients by reconsidering recent reforms
  4. Strengthen work incentives for older workers by linking retirement age to life expectancy after 2031
  5. Apply uniform carbon pricing across all sectors to ensure most cost-effective emissions reduction
  6. Create reliable framework for energy transition with clear plans for renewable expansion
  7. Eliminate climate-damaging subsidies that counteract carbon pricing
  8. Further integrate European energy markets to better balance supply and demand
  9. Reduce bureaucracy by systematically reviewing regulations and streamlining reporting requirements
  10. Facilitate business formation through one-stop shops and completing the EU single market
  11. Reduce corporate tax burden potentially through accelerated depreciation or corporate tax rate cuts
  12. Simplify and accelerate administrative processes by setting time limits on decisions

Here is the speech.

This article was written by Adam Button at www.forexlive.com.

Feed from Forexlive.com

MoneyMaker FX EA Trading Robot

read more
Japanese Yen Braces for US Tariffs. Forecast as of 10.03.2025

Japanese Yen Braces for US Tariffs. Forecast as of 10.03.2025

March 10, 2025 1:20 pm |

Donald Trump has complained that Japan is making a fortune off the US. The White House will take measures against Tokyo. Meanwhile, the Japanese yen is outperforming its G10 counterparts. Let’s discuss these topics and make a trading plan for the USDJPY pair. Major Takeaways Japanese wages are rising at the fastest pace since 1992. Japanese bond yields hit their highest point since 2008. Donald Trump is dissatisfied with the relationship between Tokyo and Washington. Short trades on the USDJPY pair with a target of 145 can be opened on upward pullbacks. Weekly Fundamental Forecast for Yen The yen is… Read full author’s opinion and review in blog of #LiteFinance

Feed from Litefinance.com

MoneyMaker FX EA Trading Robot

read more