One of the biggest companies in the online trading industry in Europe, Danish multi-asset brokerage Saxo Bank, has just reported on the outcome of its calendar 2017. The firm posts an increase in operating income to about €402 million, a figure which is only marginally higher than a year ago.

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Looking at net profits, however, the company is posting a material increase of over 30 percent to 53.9 million. The company has managed to increase its margins amid increasing client numbers in both its ... (read more)

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The iFX EXPO International is once again coming to Cyprus, with the series’ next instalment taking place on May 22-24 in Limassol at the Palais de Sport Spyros Kyprianou. The event will be spearheaded by Finance Magnates and CONVERSION PROS, the driving force behind the iFX EXPO financial events.

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The iFX EXPO in Cyprus represents the second such event of the 2018 calendar year, following its foray into the Asian markets in Hong Kong. The conference featured over 4,000 attendees last ... (read more)

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This is an excerpt and the first in a series of two.. To hear the full interview, click the Soundcloud or Youtube links. 

Despite its anarcho-capitalist origins, cryptocurrency is often thought about as an asset for the wealthy or an esoteric tool accessible only to those who are technically proficient enough to use it.

However, there are those who see the role that cryptocurrency could play in the world’s most underbanked regions as a method of storing and sending value.

Recently, Finance Magnates spoke to Richard Ells, Founder and Director of Electroneum, about Electroneum’s mobile platform, and its future in the ... (read more)

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The Iranian government has completely changed its outlook on the global cryptocurrency space. In recent months, there has been a positive sentiment out of the country, indicating that Bitcoin could be welcomed by the government.

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However, it appears that the country will now opt to avoid joining the global trend, and will alternatively work to create and launch its own state-run cryptocurrency.

Initial support for Bitcoin in Iran stemmed from the positive benefits that it could create for the country. Authorities viewed its integration into the financial infrastructure of the ... (read more)

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The Tezos Foundation has appointed a new president to manage the +$1 ‎billion funds of its embattled cryptocurrency project. Ryan Jesperson, a ‎contributor of the blockchain-based startup, will replace Johann Gevers, who ‎departs after a prolonged spat with the inventors of the Tezos technology, Arthur ‎and Kathleen Breitman since 2017. ‎

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The Swiss foundation has also added Michel ‎Mauny, a French computer programming academic, to its three-person directorship panel. He ‎succeeded the outgoing board member Diego Olivier Fernandez Pons.‎

In a statement issued on Thursday, the foundation said the decision ... (read more)

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Violent robberies involving Bitcoin seem to be becoming more common – Taiwanese police reported that four men have been arrested for assaulting a man and compelling him to transfer bitcoins to them, according to a report in Channel NewsAsia.

The perpetrators told the victim that they wanted to buy bitcoins from him, and invited him to meet them. He travelled to the city of Taichung with a friend to do just that. When he showed the group proof of his holdings, they assaulted him and his friend and executed a transfer using his phone. The man had 18 bitcoins on his phone, ... (read more)

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Commission-free investing app Robinhood today announced the official launch of its much-anticipated cryptocurrency feature, allowing US customers to explore Bitcoin and Ethereum ‎trading alongside traditional investment products.‎

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The free stock-trading app joins a short list of US-based brokers that ‎offer cryptocurrency trading products. There will be a waiting list, and Robinhood ‎will onboard customers at a rate at ‎which it ‎can support them. ‎

The company initially launched two crypto trading pairs for ‎residents in five states – California, Massachusetts, Missouri, ‎Montana and New Hampshire.‎ By mid-2018, the trading app ... (read more)

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In spite of the attention-grabbing headlines, Venezuela’s new “petro” ‎cryptocurrency hits another snag, as the U.S. Treasury Department ‎once more is sounding the bell to remind the country’s investors about the sanctions it ‎slaps on the South American country.‎

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Venezuela’s President Nicolas Maduro claimed earlier this week that his ‎country managed to raise $735 million in the first day of petro’s pre-sale. ‎However, the U.S, officials say that such investments are off limits as ‎restrictions remain status quo.‎

‎“Available information indicates that, once issued, the petro digital ‎currency would appear ... (read more)

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The Financial Commission (FinaCom PLC) warned ‎investors against companies or associations that approach victims of forex ‎traders claiming that, for a fee, they can help them recover the sums invested ‎or the losses incurred on unlawfully FX trading platforms.‎

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The self-regulatory body cautions investors that “a group of individuals” are ‎trying to usurp the identity of the FinaCom itself by using a like-minded logo ‎in order to give the appearance of trustworthiness and legitimacy.‎

This type of activity is typical of the fraud mechanism known ... (read more)

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