Major FX brokers updates in 2024: innovations, growth, and market trends
In 2024, the Forex market has witnessed transformative changes driven by leading brokers. From innovative trading platforms to strategic expansions and enhanced regulatory compliance, these updates are reshaping the trading landscape. This article will delve into the key developments from major brokers like AvaTrade, XTB, eToro, and OANDA, highlighting how these advancements can benefit traders and improve their overall experience in an evolving market.
AvaTrade updates in 2024
In 2024, AvaTrade is thrilled to announce a brand transformation after 17 years in the industry, emphasizing its commitment to empowering traders through innovation while maintaining trusted services.
- Launch of AvaFuture: a new futures trading platform
AvaTrade has introduced AvaFuture, a platform dedicated to futures trading, offering a variety of contracts—including micro, mini, and standard options—across asset classes like indices, commodities, currencies, treasuries, cryptocurrencies, and metals. With competitive pricing at $1.75 per standard contract per trade, this new platform enhances AvaTrade’s offerings, which include options trading through AvaOptions.
- Partnership with Worldpay
AvaTrade has partnered with Worldpay to improve payment processing, ensuring secure and efficient transactions for customers and enhancing overall user experience.
- Expansion into Colombia
AvaTrade has received regulatory approval from Colombia’s Financial Superintendence (SFC) to operate in the country, providing Colombian traders access to a range of financial products, including CFDs and futures.
- Sponsorship of the UAE Pro League
AvaTrade has renewed its sponsorship with the UAE Pro League for the 2024/25 season, promoting safe trading practices within the football community and showcasing AvaTrade’s technology and global presence.
AvaTrade’s brand evolution and strategic initiatives underscore its dedication to providing innovative trading solutions and expanding its global reach.
For more details, use our special button to visit AvaTrade’s website.
XTB updates in 2024
- XTB expands to UAE with ETF investment plans
XTB has launched Investment Plans in the UAE, providing passive investors with pre-built ETF portfolios. With a starting investment as low as $15, investors can create diversified, commission-free portfolios tailored to their risk preferences via XTB’s mobile apps, joining a global community of over 847,000 users.
- UK market entry: launch of ISAs
In a major move, XTB has entered the UK market with Individual Savings Accounts (ISAs), giving UK investors access to tax-free savings options. Backed by CEO Omar Arnout, XTB aims to become a competitive force in the UK’s £400 billion ISA market.
- Partnership with BlackRock to boost European ETF investment
XTB has partnered with BlackRock to expand ETF access for European investors, starting in Spain. This collaboration promotes affordable, diversified ETF investments as a savings tool for retail investors, where ETFs are gaining popularity.
- Strategic acquisition in Indonesia
XTB has acquired a 90% stake in Indonesian broker Eagel Capital Futures as it looks to grow its Asian presence. While additional licensing is required, XTB is preparing to expand its influence in the rapidly growing Asian financial markets.
- Multi-currency card and retirement accounts
XTB’s latest offerings include a multi-currency virtual wallet with a card supporting seven currencies, rolling out across Europe, and Individual Retirement Accounts (IKE) in Poland, offering Polish investors tax-advantaged retirement savings options.
NAGA Markets updates in 2024
- NAGA merges with CAPEX.com, sets ambitious growth goals
NAGA Group AG has merged with CAPEX.com’s parent company, Key Way Group, through a non-cash capital increase, granting Key Way shareholders a majority stake. Octavian Patrascu, now CEO of NAGA, aims to boost revenue to $250 million within three years, with an anticipated $10 million in annual savings. The merger awaits final regulatory approvals.
- New “Everything Trading” app on Telegram
In a major expansion move, NAGA launched the “NAGA Everything Trading” app on Telegram, allowing users to complete onboarding, KYC, deposit, and trade without leaving the app. This integration targets Telegram’s 950 million users, expanding NAGA’s global reach.
- Launch of “Everything Money” unified platform
NAGA’s new Everything Money platform offers a one-stop hub for trading, investing, crypto, and payments. Key features include Social Trading, where users can follow and copy top traders, plus educational content for all levels.
eToro updates in 2024
- eToro & Tangany collaborate for Crypto custody in Germany
In January 2024, eToro announced a partnership with Munich-based fintech Tangany to enhance crypto custody services for its German users. This collaboration, which launched at the end of January, utilized Tangany’s BaFin licensing to provide secure asset custody solutions.
- New “Cutting-Edge” portfolio with STRATxAI
eToro introduced the ‘Cutting-Edge’ portfolio in early 2024, created in collaboration with STRATxAI. This portfolio featured 15 high-value US stocks and aimed for risk-adjusted returns exceeding the S&P 500, with monthly rebalancing based on rigorous performance assessments.
- Changes to Crypto CFD trading in Australia
Effective February 19, 2024, eToro ceased support for non-leveraged long CFD positions on cryptocurrencies for Australian users. Existing positions were closed at market value, but users were able to switch to actual cryptocurrency without incurring fees.
- Exploring virtual reality trading
Throughout 2024, eToro investigated the integration of augmented and virtual reality features into its trading app for Apple and Meta devices, aiming to enhance user engagement with AI-driven capabilities.
- NDI-Future Tech portfolio launch
In partnership with NewDeal Invest, eToro launched the ‘NDI-Future Tech’ portfolio, providing users access to emerging tech companies through a curated selection process in early 2024.
- Regulatory license pursuit in Singapore
As part of its global expansion efforts, eToro sought a license from Singapore’s Monetary Authority in 2024, reinforcing its commitment to regulatory compliance.
- Proxy voting feature unveiled
In mid-2024, eToro introduced a feature allowing users to vote in shareholder meetings globally, thereby enhancing user engagement in company management decisions.
- Partnership with 21Shares for Crypto portfolio
eToro collaborated with 21Shares to create the data-driven ‘21Shares-Flows portfolio,’ which adjusted crypto asset allocations based on market sentiment throughout 2024.
- SOC 2 Type II Certification achieved
In 2024, eToro successfully obtained SOC 2 Type II Certification, underscoring its dedication to data security and user privacy.
- SDA Bocconi collaboration
In a move to strengthen its presence in the Italian fintech market, eToro partnered with SDA Bocconi in early 2024.
- Expansion of UK stock offerings
Through a partnership with the London Stock Exchange, eToro added over 1,000 new UK stocks, enhancing investment options for users during the first quarter of 2024.
- Staking services for Solana and Ethereum
eToro launched staking services for Solana (SOL) and Ethereum (ETH) in 2024, allowing users to earn rewards on their holdings.
- Granolas Smart Portfolio launched
The Granolas Smart Portfolio was unveiled by eToro in early 2024, offering a diverse mix of global companies with a minimum investment requirement of $500.
- 290 new German stocks added
In collaboration with Deutsche Börse, eToro added 290 German stocks in early 2024, improving local investment options for users.
- Settlement with SEC
In 2024, eToro USA paid $1.5 million to settle SEC charges related to operating without proper registration for crypto trading.
- Launch of spot Cryptocurrency trading in Germany
eToro launched spot cryptocurrency trading in Germany in early 2024, partnering with DLT Finance and Tangany to enhance its offerings.
- Acquisition of Spaceship
eToro completed the acquisition of the Australian investment app Spaceship for $55 million in mid-2024, expanding its range of services.
- GBP and EUR trading launched
In 2024, eToro introduced trading in GBP and EUR for UK and European investors, eliminating conversion fees for its users.
- Exit from the Philippines
Due to risk management considerations, eToro announced its exit from the Philippines in late 2024, requiring clients to close their accounts by December 8, 2024.
Risk disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
OANDA updates in 2024
- OANDA launches operations in Europe from Poland
In early 2024, OANDA established a new base in Poland, launching financial services across the EU under the supervision of the Polish Financial Supervision Authority (KNF). This move followed the closure of its Malta operations and included the acquisition of TMS Brokers, now rebranded as OANDA TMS.
- CFDs on US and UK stocks introduced
OANDA expanded its offerings to include contracts for difference (CFDs) on popular US and UK stocks, enabling clients to trade shares from major companies like BP, Vodafone, Tesla, and Amazon without owning the underlying assets.
- Enhanced trading features
The broker improved its services with tighter gold spreads, allowing clients to trade with spreads as low as 10 cents. Additionally, OANDA introduced over 800 US stock CFDs and updated its fxTrade mobile app for better instrument search functionality.
- Acquisition of Coinpass
To cater to the growing UK crypto market, OANDA acquired a majority stake in Coinpass, enhancing access to a range of crypto trading services for retail and professional clients.
- Partnership with TradingView
OANDA TMS partnered with TradingView, becoming the first Polish broker to allow clients to execute trades directly from the popular charting platform, enhancing the trading experience.
- Launch of OANDA Labs Trader
OANDA ventured into proprietary trading with the introduction of the OANDA Labs Trader platform, offering traders profit-sharing opportunities of up to 75%.
- Expanded stock offerings
OANDA TMS now provides access to over 2,200 European stocks, significantly broadening investment options for clients.
- Updated prop trading program
The broker enhanced its proprietary trading program with lower profit targets, increased profit sharing to 80%, and accepted cryptocurrency payments for challenges, catering to the needs of tech-savvy traders.
- Expansion into South Africa
OANDA’s Prop Trader program was launched in South Africa, allowing traders to participate on a profit-sharing basis.
- MetaTrader 4 server shutdown in Japan
OANDA Japan announced the termination of two MetaTrader 4 servers by December 2024, encouraging users to transition to MT5.
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