Independent Investor News and Updates

ETFinance Review and Investigation

Author: trader / In News

A new broker’s in town… this time it’s ETFinance. Having searched online we decided to share our findings. All the information is in public domain so please feel free to double check, if you wish. So Who Are ETFinance? ETFinance is a trading name of MAGNUM FX (CYPRUS) LTD registration number HE 360548 authorized and regulated by the Cyprus Securities and Exchange Commission (the “”CySEC””) under license number 359/18. As we can see from The Open Database Of The Corporate World, MAGNUM FX (CYPRUS) LTD was incorporated on 28 September 2016 and domain was registered on 29 July 2018 with GoDaddy. Some ETFinance Reviews from Internet New broker, so we decided to spend a bit of time and see what we could find. In no particular order (reviews play a big part if you want to find the best CFD broker or forex account if it comes to it): […]

Tesla Mini-Markets With CoreSpreads

Author: trader / In News

Tesla is never out of the headlines, and with good reason! In mid-July, the share price hit a record high – just below $1,800. That was a five-fold increase on where the shares traded just four months ago. This gave Tesla a market capitalisation of $320 billion making it the world’s most valuable car maker by miles. Tesla is one of the most talked-about companies in the world. Every day it features in the top three of the most popular stocks on CoreSpread’s ‘Smart News’ social media tracking widget. Hardly surprising, as little over a year ago, some commentators were speculating that the company was close to bankruptcy. But all this interest and the high share price has made it too expensive for most traders to speculate on Tesla. You can now trade Tesla as a US mini-share, where it joins other heavyweights such as Amazon, Facebook and Apple. By […]

Company Update: Sale of ETX Capital to Guru Capital

Author: Tim Messenger / In News

The team at ETX Capital is delighted to announce that the company’s current shareholders have agreed terms of a sale of ETX Capital to a fund associated with Guru Capital, a Switzerland-based private equity firm with a special focus on FX and CFD Brokerage. Roger Nagioff, Founding Partner of JRJ Group, said, “During JRJ’s ownership, we have invested in bolt-on acquisitions and enhanced the technology of the firm. We are delighted with the strength and resilience of the platform we have built, alongside the management team and employees, and we wish the enterprise every success in its next stage of growth.” What Does It Mean For Customers and Traders? There will be no disruptions to the services and business will continue as usual. You will receive the same personalised services and the award-winning trading platforms will be available as before. ETX Capital has an exciting future and this will present […]

Market Update: Week Starting 01/06/2020

Author: Connor Campbell / In News

Update 05-06-2020: Shocking rise in nonfarm payrolls sends Dow Jones back to 27000, Europe extends gains In a baffling turn-up for the books, America actually CREATED jobs last month, sending the already giddy markets into a state of triple-digit ecstasy. Earlier in the week analysts were forecasting that more than 9 million jobs had been lost in May. Then, after a far stronger than expected ADP reading on Wednesday, that was revised down to 7.75 million. Well, in actuality, the US added 2.5 million jobs last month. Excitement around that astonishing beat should, admittedly, be tempered somewhat by a revision to April’s figure from -20.537 million to -20.687 million, that initial mind-blowing number becoming somehow even worse. Yet, with the unemployment rate falling from 14.7% to 13.3% – it was expected to hit 19.4% –the markets finally had some concrete evidence to support the rally that has defined the start […]

Market Update: Week Starting 25/05/2020

Author: Connor Campbell / In News

Update 29-05-2020: Markets deep in the red as they stew ahead of Trump’s China press conference The tension built as Friday went on, the markets anxiously awaiting Donald Trump’s press conference – and whatever that will mean for the relationship between the USA and China. Though it didn’t quite match the fear shown by its European peers, the Dow Jones was hardly in a good way after the bell. Extending Thursday’s late lurch into the red, the index shed another 200 points, sending it back towards 25200. That’s a sharp drop from yesterday’s 25800-crossing intraday highs. However, May has, to this point at least, been a solid month for the Dow – after all, it started it a point under 24100. Yet that’s the thing with a President like Trump; a month of steady growth could soon be erased in an instant. As mentioned, the European indices – which have […]

Market Update: Week Starting 18/05/2020

Author: Connor Campbell / In News

Update 21-05-2020: Dow Jones flat, FTSE eases losses despite another ugly jobless claims reading The Dow Jones tried, and somewhat failed, to lift Europe into the green on Thursday afternoon, though the US open did help ease the morning’s losses. The market’s main preoccupation this Thursday seems to be Donald Trump’s latest attacks on China, the President not letting up as he tries to win voters over by pinning the blame for the pandemic’s impact in the US on Beijing, rather than his own failings. Investors, then, didn’t pay too much attention to wave upon wave of better than forecast flash manufacturing and services PMIs, not only in the US, but the Eurozone and UK as well. That might also be because, though they have certainly improved month-on-month, that’s not saying much given where they were at in April. As for the usual weekly jobless claims, news of another 2.438 […]

Market Update: Week Starting 11/05/2020

Author: Connor Campbell / In News

Update 14-05-2020: Markets sink as Trump suggests he could ‘cut off the whole relationship’ with China Things got really nasty on Thursday afternoon, the growing concerns surrounding the US-China situation and another sharp increase in unemployment causing an intensification of the session’s already pronounced losses. Having fallen close to 1000 points in the last couple of sessions, the Dow Jones shed another 300 points after the bell, sinking back under 22950 for the first time in 5 weeks. This as Donald Trump continued to stoke the fires of a feud with Beijing, stating he is ‘very disappointed in China’. Going on to discuss last year’s laboriously created trade deal, the President claimed that ‘the ink was barely dry and the plague came over. And it doesn’t feel the same to me.’ The point that most alarmed investors was Trump’s suggestion that he could ‘cut off the whole relationship with China’. […]

Market Update: Week Starting 04/05/2020

Author: Connor Campbell / In News

Update 07-05-2020: Dow Jones shakes off jobs data once again to near 24000, FTSE at one-week peak Thursday saw another horrendous piece of jobs data out of the US, and another triple-digit surge from the Dow Jones. For the week ending May 1st, another 3.169 million Americans filed for unemployment, pushing the figure for the last month and a half towards 34 million. That figure follows yesterday’s -20.236 million ADP nonfarm reading, and ahead of tomorrow’s potentially -21.4 million headline nonfarm number, in a jobs report that could also see the unemployment rate shot up from 4.4% to 16%. And yet, as has been the case for a while, investors weren’t all that bothered by these job losses. Instead, focusing on Donald Trump’s strategy to reopen America for business, deaths be damned, the Dow Jones added 300 points, once again putting a 24000-crossing close in the conversation. This follows on […]

Market Update: Week Starting 27/04/2020

Author: Connor Campbell / In News

Update 29-04-2020: Gilead drug success allows investors to ignore 4.8% Q1 contraction in US Taking the heat off a terrible Q1 GDP reading out of the US, investors instead focused on Gilead’s announcement that it had seen positive results with its remdesivir trial. Now, remdisivir isn’t a vaccine or anything of the sort. Rather, in the words of Gilead, the drug would ‘help hospitals and healthcare workers treat more patients in urgent need of care’. Following on from reports a couple of weeks ago that the drug was effective in treating covid-19, confirmation from the horse’s mouth created a surge in optimism from investors. And it came just at the right time. Earlier in the day it was revealed that the US economy shrank by 4.8% in Q1 at the annualised rate, far worse than the -4.0% forecast, and a massive swing from the 2.1% growth seen in Q4. It’s […]

Market Update: Week Starting 20/04/2020

Author: Connor Campbell / In News

Update 21-04-2020: Oil rebounds as Trump threatens Iran, FTSE back above 5750 A much-needed rebound from Brent Crude allowed the Western indices to hold onto their growth this Wednesday – and in some cases, saw them improvement on their initial gains.   It would be nice for oil’s push higher to come from a less troublesome catalyst. Donald Trump’s order for the navy to ‘shoot and destroy’ Iranian gunboats that ‘harass’ American ships cause some investors to return to the black stuff, lifting Brent Crude back towards $21 per barrel with a near 8% comeback. This after it had at one point fallen under $16 per barrel overnight.   The FTSE was a big beneficiary of this move. With BP and Shell all of a sudden up 5% and 5.8% respectively, the UK index rose more than 2%, returning it to 5760.   The DAX, meanwhile, teased 10400 as it […]

Market Update: Week Starting 13/04/2020

Author: Connor Campbell / In News

Update 17-04-2020: Dow Jones opens higher, but loses bravado seen in initial moments after bell Though still firmly in the green, some of the enthusiasm that was present after the bell rang on Wall Street started to disappear as investors looked down the barrel of another potentially stressful weekend of coronavirus headlines.   Opening as much as 900-plus points higher, the Dow Jones saw that surge more than half as the dust settled on Friday afternoon. Now it is up around 400 points, leaving it above 23900, but below the 24000 levels it has repeatedly struggled to stay above despite multiple attempts in the last fortnight.   Still, it has been a good 24 hours for the US markets, with a whiplash-inducing turnaround from the post-jobless claims malaise to the hopes of Gilead’s remdisivir covid-19 drug trial.   Even if its lost some of its bravado, that US open nevertheless […]