CySEC's 2024 Goals: Cross-Border Activities and CFD Risk Mitigation

Retail FX/CFD broker Vantage announced an update to its website and trading application, aiming to provide users with "greater transparency" and "cost savings." The move is a response to the introduction of new stock index CFDs in January, with the goal of better catering to investors interested in index trading. The update includes additional educational materials, transparent pricing comparisons, better spread visibility, and enhanced charting tools on the mobile application. Vantage also extended its sponsorship of the NEOM McLaren Extreme E racing team, highlighting a broader trend of motorsport sponsorship in the trading industry.

The New Zealand financial market regulator recently updated its warning list, adding two new entities. The FMA has warned against the activities of BTCSWE and Grandeur Capital Pro. BTCSWE, a legitimate cryptocurrency exchange in New Zealand, has been targeted by scammers who impersonate its representatives and promise to recover lost funds. Victims have been asked to pay a contract fee over several months, resulting in a significant loss of money. Grandeur Capital Pro, on the other hand, misleads clients and is operating without the necessary licenses. The FMA advises caution when dealing with them. While the number of financial crimes in New Zealand has decreased, there has been an increase in fraudulent websites impersonating registered entities offering financial services to retail clients.