Fullerton Markets Launches MetaTrader 5

Rick Steves

Fullerton Markets has deregistered itself as a New Zealand regulated entity in 2018 after being issued a formar warning from the FMA. The firm moved to Saint Vincent and the Grenadines as an offshore retail FX broker. 

Fullerton Markets has announced the launch of its own MetaTrader 5 (MT5) trading platform., accessible via Fullerton Suite.Offered alongside its MT4 trading platform, Fullerton Markets’ MT5  features 21 timeframes (up from nine on MT4), six pending order types, a built-in economic calendar, real-time Depth of Market data, the option to transfer funds between accounts, and an in-app shortcut to Fullerton Suite.Mario Singh, CEO of Fullerton Markets, said: “The goal is to continually enhance the trading experience of our clients. With the MT5 platform, traders will have full access to features and tools that allow for comprehensive charting, convenient fundamental and technical analysis, and better control of their trading activity, among others.

“Given MT5’s newer technology, we can only expect improved sustainability of the platform, a key advantage that it has over its older counterpart. Most certainly, with the new and improved resources available on our MT5 platform, the trading possibilities for our clients will be vastly multiplied.”

While many traders might still be attached to the MT4 platform, its successor has faster processing times and a wider range of tools and indicators. And as brokers keep up with demand from retail investors who are increasingly motivated to trade stocks, MetaTrader 5 comes as more suitable for equities and other asset classes.

In 2017, Fullerton Markets was subject to regulatory action from the New Zealand’s FMA. A formal warning was issued to the then Wellington-based retail FX broker over suspected non-compliance with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. The company engaged in conduct that constitutes a civil liability act under the AML/CFT Law, the regulator alleged.

The FMA alleged the broker failed to carry out checks on politically exposed persons and relied on self-declarations by clients. In addition, the firm confirmed that only accounts in excess of USD 100,000 were monitored, unlike what is required by law in New Zealand.

The supervisor instructed the company to implement an AML/CFT risk assessment and compliance program to the required standard, as well as proper onboarding and KYC procedures and appropriate level of transaction monitoring rules. Otherwise, the FMA would take civil action that could result in penalties of $2 million per offence.

Facing such regulatory pressure, Fullerton Markets decided to voluntarily deregistered itself as a New Zealand entity in 2018 and move to Saint Vincent and the Grenadines as an offshore retail FX broker.

 

Read this next

Digital Assets

US court rules crypto trades as securities in Coinbase case

A US court ruled that trading crypto assets on platforms like Coinbase constitutes securities transactions.

Market News

Weekly Data: Oil and Gold: Brief Review before the NFP

This preview of weekly data looks at USOIL and XAUUSD where economic data coming up later this week are the main market drivers for the near short-term outlook.

Institutional FX

FXSpotStream reports lower volumes for February 2024

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for February 2024, which moved lower on a monthly basis.

Fundamental Analysis

Global FX Market Summary: EUR, USD, Gold March 4th,2024

US Dollar Weakness: The US Dollar (USD) is currently struggling to gain strength due to a combination of factors.

Technical Analysis

Bitcoin Technical Analysis Report 4 March, 2024

Bitcoin cryptocurrency can be expected to rise further toward the next resistance level 69000.00 (former multiyear high from January)

Opinion

Finding Opportunity in Challenge: Why New Regulations Offer a Chance For Business to Get on Top of Data Management

The combination of CESOP, PSD3 and the PSR, has put businesses under new pressures. In this engaging article, André Casterman, Senior Advisor at Intix provides invaluable guidance on how companies can stay ahead of the curve.

Institutional FX

Finalto launches Prime of Prime offering on LSEG’s FX Matching venue

“By combining our expertise in Prime of Prime services with LSEG’s robust trading platform, we aim to empower clients with the tools and resources needed to navigate the FX market with confidence.”

Digital Assets

Tether’s USDT stablecoin nears 100 billion in circulating supply

USDT, the world’s largest stablecoin, has reached close to 100 billion in circulating supply, currently sitting at around 99.5 billion. Its market capitalization, which reached over $100 billion at one point, is calculated by multiplying the supply by the price.

Market News

5 Hot Stocks For March 2024

Entering March 2024 marks the beginning of the final stretch of the first quarter of the year, seemingly passing swiftly amidst market anticipation and global economic factors.

<