Simon Mugo
LeapRate Analyst

Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading.
MarketsVox logo
January 09, 2024 BY Simon Mugo

ForexVox Transforms Into MarketsVox As It Expands Beyond FX

The rebranded MarketsVox will now extend its trading offerings to include indices, commodities, cryptocurrencies, metals, and core forex services. This transformation underscores the company's commitment to providing a broader spectrum of trading opportunities across various markets. To coincide with the rebranding, MarketsVox is introducing many new features for its clients. These enhancements include additional payment…

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Trade Republic
January 09, 2024 BY Simon Mugo

Trade Republic Attracts 4 Million Customers by Its 5th Anniversary

The growth trajectory is a testament to the company's evolution since its inception in 2019 as a German brokerage firm. Its roots date back to 2015 when it operated under Neon Trading within a startup incubator. Trade Republic's journey began in earnest in 2019 when it opened its platform for commission-free trading to a select…

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plus500 revenue
January 08, 2024 BY Simon Mugo

Plus500’s FY Revenues Rise to $725M, Beating Expectations

The positive outcome contrasts with earlier projections, as Plus500 initially anticipated ending the year with revenue and EBITDA in line with market expectations, set at $645 million and $300 million, respectively. The brokerage emphasised the resilience of its balance sheet, noting its robust nature, with cash balances reaching approximately $900 million at the close of…

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XTB
January 08, 2024 BY Simon Mugo

XTB Launches New ETF Passive Investment Plan in the UAE

The Investment Plans feature pre-made portfolios, allowing investors to easily access ETFs with allocations automatically managed based on their risk preferences. With plans starting at just $15, investors can combine up to 9 ETFs covering a diverse range of assets and geographies. This product is particularly tailored for individuals seeking passive investment options without the…

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January 05, 2024 BY Simon Mugo

Investors Park a Record $123 Billion in Cash To Start the Year Off

According to BofA, this financial manoeuvre, typically observed in the first week of January, comes on the heels of 2023's unprecedented annual cash inflow totalling $1.3 trillion. Such movements highlight a trend where investors, prioritising security and influenced by increased interest rates, have shifted away from stocks and towards more stable assets. Drawing from EPFR's…

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IG Group office1
January 05, 2024 BY Simon Mugo

Eren Eraslan Appointed As Head of IG’s Northern Europe Unit

The above role allowed him to significantly influence the firm's growth and strategy in these regions. His tenure at IG Deutschland lasted for over a year and eight months, during which he proved his leadership abilities and contributed substantially to the firm's development. Since December 2023, he has taken up the mantle as Head of…

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January 04, 2024 BY Simon Mugo

SAXO’s Upbeat FX Volumes Underpin Its December Volumes

The surge in forex trading slightly elevated Saxo's total monthly trading volume to $369.5 billion, a 1.8% increase. However, this decreased by 11.1% compared to December of the previous year. Saxo Bank, headquartered in Denmark, provides various trading services, including equities, commodities, and fixed income. Despite the uptick in forex, trading volumes across these other…

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January 04, 2024 BY Simon Mugo

XTB Launches Auto-Trading as Part of Passive Investment Plans

Since the previous autumn, XTB customers have had the opportunity to invest in passive instruments for medium to long-term strategies. These Investment Plans allow for up to 10 unique investment portfolios based on selected ETF funds, each accommodating up to 9 funds and a minimum investment of $15. The company had announced its intention to…

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Interactive Brokers
January 03, 2024 BY Simon Mugo

Interactive Brokers Reports a 23% Increase in Client Accounts

The firm's ending client equity surged to $426 billion, demonstrating an impressive 39% annual growth. Financially, Interactive Brokers saw positive trends in client assets and transactions. The company reported a 14% annual increase in client margin loan balances, totalling $44.4 billion, and a 10% rise in client credit balances to $104.5 billion. Furthermore, the brokerage…

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Dxtrade platform overview
January 03, 2024 BY Simon Mugo

DXtrade Has Integrated With Tradingview for Better Services

This integration allows brokers on DXtrade to leverage TradingView's extensive user base for increased visibility and direct user sign-ups. DXtrade's backend will be directly connected to the TradingView platform, simplifying the incorporation of TradingView's features for brokers who license DXtrade. This synergy centralises essential operations like order execution, risk management, and commission tracking within DXtrade,…

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