News Nuggets | 12 July: eToro's CFDs Fees; Hirings at Exinity, Scope Markets

<p>eToro Updates CFDs Fees
</p><p><a href="https://www.financemagnates.com/tag/etoro/">eToro</a> has updated the overnight CFDs fee structure by implementing the first phase on 3 July, which brought zero overnight fees on short positions of most stocks. The broker is going to update the fees in two phases.
</p><p>"We're ecstatic to announce that we're removing overnight fees for short positions on the vast majority (approximately 98%) of available stocks. This change will have a significant impact on your trading experience, and we believe it will save you money, especially if you hold short positions," the broker stated.
</p><p>The new structure applied to all stocks with a yearly borrowing cost of less than 10 percent. It highlighted that the traders paid between 6 percent and 8 percent in overnight fees with the old structure.</p><p>Exinity Onboards New Global Sales VP
</p><p>Exinity, the FX/CFDs brokerage brand owned by <a href="https://www.financemagnates.com/forex/brokers/fxtm-and-alpari-founder-andrey-dashin-announces-exinity-launch/">Andrey Dashin</a>, has hired Katina Messinis as the Vice President for Global Sales. Most recently, she worked at Exness as the Global Head of Premier Account Management.</p><p>Before Exness, Messinis spent about a couple of years at ZuluTrade and parted as the Acting Head of Institutional Sales. She also worked at PwC, Baker McKenzie, and several other companies.
</p><p>"Exinity is a global fintech business, offering clients a unique and innovative range of trading and investment products. Together, we aim to help our clients achieve the financial independence they desire, and by doing so, give them the freedom to succeed," Messinis wrote in a social media post.
</p><p>MFSA Warns against Unlicensed Entity
</p><p>The Malta Financial Services Authority (MFSA) today (Wednesday) warned against an entity operating under the name of Prolific Trades Ltd, which is offering CFDs trading. According to the regulator, the company claimed to be regulated by the MFSA, which is false.
</p><p>"The <a href="https://www.financemagnates.com/cryptocurrency/regulation/mfsa-reminds-binance-is-not-authorized-to-operate-in-malta/">MFSA</a> wishes to alert the public that Prolific Trades Ltd is NEITHER a Maltese registered company NOR licensed or otherwise authorized by the MFSA to provide any investment services or other financial services which are required to be licensed or otherwise authorized under Maltese law. The public should therefore refrain from entering into any transactions or otherwise dealing with the above-mentioned entity on any matters falling within the parameters of the Investment Services Act, Chapter 370 of the Laws of Malta," the announcement stated.
</p><p>Scope Markets Strengths Business Development Team
</p><p>Scope Markets, a brokerage brand <a href="https://www.financemagnates.com/forex/scope-markets-re-enters-china-following-acquisition-by-rostro-group/">owned by the Rostro Group</a>, has hired Can Uyanik as a new Senior Business Development Manager. He was most recently the Country Manager for Spain at Trive, another FX/CFDs broker.
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According to his Linkedin profile, Uyanik spent more than nine years at Trive (previously GKG) in the early years of his career. He started as a Technical Analyst at TeleTrade and later moved to Alpari as the Chief Analyst.</p><p>Opens New York Office
</p><p>TransFICC, a provider of low-latency connectivity and workflow services for fixed-income and derivatives markets, announced today (Wednesday) the opening of its New York office. The company added three new staff in the new office: Sean Murphy as Senior Sales Executive to lead North American new business, Bo-Yun Liu as Pre-Sales Engineer to lead Client Architecture Solutioning globally, and Khagay Nagdimov as Pre-Sales Engineer.
</p><p>"With six North American clients and a presence in the New York and Chicago data centres, it is important for TransFICC to have a US office," said Steve Toland, co-Founder of TransFICC.</p>

This article was written by Finance Magnates Staff at www.financemagnates.com.