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Dubai-Based CoinW Unveils Rebranding and Prop Trading Product

Finance Magnates

Cryptocoins News / Finance Magnates 61 Views

CoinW Exchange, a notable presence within the digital asset trading domain, is undergoing changes as it observes its sixth-year anniversary. Situated in Dubai, the exchange has revealed an exhaustive rebranding effort alongside the debut of its Proprietary Trading (Prop Trading) product.

Introducing Prop Trading for Profit Opportunities

Having cemented its position within the digital assets trading industry, CoinW Exchange is now set to enter a fresh phase of development. A centrepiece of its transformation is the launch of the Prop Trading product, an offering aimed at providing traders with expanded avenues for profit optimization. This new product is set to play a role in CoinWExchange's strategic outlook for the future according to the firm.

According to Sonic, the Director of CoinW PropTrading: "We have a host of exciting plans in the pipeline that promise to revolutionize the way digital assets are traded. We hope CPT can bring more opportunities to talented traders who are short of fund. CoinW will be the place that they can truly shine."

Challenges and Opportunities: UAE's Crypto Journey

A recent survey by KuCoin sheds light on the growing cryptocurrency landscape in the United Arab Emirates (UAE), as reported by Finance Magnates. Despite challenges, 59% of UAE crypto users view it as a long-term investment and 35% use it for portfolio diversification. Additionally, 29% see crypto as a more convenient asset storage method than traditional banks, and 22% use it for daily transactions.

Challenges include market volatility (52%), trust issues with crypto platforms (48%), and a lack of education (26%). However, the UAE benefits from strong financial infrastructure, cultural openness, regulatory favorability, access to capital, a skilled workforce, and global networks, positioning it as a promising hub for crypto industry growth.

Amidst escalating tensions, MetaQuotes is reportedly tightening restrictions on the use of MetaTrader platforms, although no official confirmation has been issued. This has led to the abrupt termination of partnerships between many proprietary trading firms and their brokerage partners. The primary concern appears to be the presence of active US clients onboarded by these platforms.

Proprietary trading has been predominantly linked with unregulated entities. However, regulated brokerages such as OANDA, Axi, and Hantec Markets have recently ventured into this space, keeping their services outside the US jurisdiction and under offshore regulatory entities.

This article was written by Tareq Sikder at www.financemagnates.com.
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