ATFX uses blockchain to help clients verify IBs and vice versa

Rick Steves

ATFX said it has been working on the IB verification project for a few months.

ATFX has introduced a new blockchain-powered ID verification process that aims to facilitate trust between clients and introducing brokers (IBs).

Based on a proprietary blockchain network built by the company’s IT team, ATFX’s blockchain verification technology is revolutionary since it allows potential clients to verify through blockchain whether an introducing broker (IB) is registered with and authorized by the broker.

The new system is two-pronged in that it also allows IBs to verify the status of the referred accounts.

Harnessing blockchain to enhance operations at ATFX

The FX and CFD brokerage firm boasts other innovative approaches to onboarding and identity verification, namely automated verification of new client accounts using facial recognition software. The broker was also among the very first firms to introduce the electronic signing of documents by its clients.

Now, the fintech-based broker is harnessing blockchain technology on a proprietary level in order to enhance its operations. It has been working on the IB verification project for a few months.

By using a blockchain network to verify its IBs, ATFX can guarantee that malicious actors can never alter the records due to the immutable nature of blockchain transactions. Opening the records to prospective and current clients makes it very transparent, making it a real trustable trading environment ATFX’s clients.

ATFX is a renowned FX and XFD broker with a global presence offering customer support in over 15 languages. With over 300 tradable financial assets, including currency pairs, precious metals, energy, indices, and shares traded as CFDs, ATFX is regulated by the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Financial Services Commission (FSC) in Mauritius, and the Financial Services Authority (FSA) in Saint Vincent and the Grenadines.

ATFX in new phase of growth

AFTX has recently hired Khaldoun Sharaiha as Head of Operations in the Middle East and North Africa. He joined the broker from ADSS, where he spent three years as the head of global sales at Abu Dhabi based firm. That was preceded by a four-year tenure with its former brand, ADS Securities, which took his career between 2013 and 2017.

Other stops include senior stints at Equiti, where he served as their Jordan CEO. Khaldoun has previously worked at Geneva-based Dukascopy bank for five years where he climbed through the ranks from a relationship manager to head of MENA operations.

ATFX revealed that its trading volumes increased “significantly” in the early part of 2022 and expanded activities during the year, supported by the development of its institutional brand, ATFX Connect.

ATFX has entered into a new phase of growth, which saw the broker expand its geographical footprint across Asia, as well as enhance its product offering, focusing on localization.

The company has been in an aggressive hiring mode at present having recently onboarded Telmo Simoes as its Managing Director of Institutional Sales for ATFX LATAM, and Phil Muldoon as Sales Director of Institutional Sales for ATFX UK.

Read this next

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

<