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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast


Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast

Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast


Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast

Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast


Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast

Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.

We’re discussing the challenges and shifts caused by MetaQuotes’ pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.

Tune in for expert analysis on the future of trading and innovative funding models.

The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.

This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.

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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.

We’re discussing the challenges and shifts caused by MetaQuotes’ pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.

Tune in for expert analysis on the future of trading and innovative funding models.

The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.

This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.

📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:

🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
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▶️ Telegram: https://t.me/financemagnatesnews

Don’t miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔

Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.

We’re discussing the challenges and shifts caused by MetaQuotes’ pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.

Tune in for expert analysis on the future of trading and innovative funding models.

The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.

This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.

📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:

🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews

Don’t miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔


Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.

We’re discussing the challenges and shifts caused by MetaQuotes’ pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.

Tune in for expert analysis on the future of trading and innovative funding models.

The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.

This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.

📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:

🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews

Don’t miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔

Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.

We’re discussing the challenges and shifts caused by MetaQuotes’ pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.

Tune in for expert analysis on the future of trading and innovative funding models.

The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.

This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.

📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:

🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews

Don’t miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔


Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.

We’re discussing the challenges and shifts caused by MetaQuotes’ pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.

Tune in for expert analysis on the future of trading and innovative funding models.

The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.

This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.

📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:

🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews

Don’t miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔

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Tech

More than 400 killed in East Africa as cyclone triggers floods and landslides – South China Morning Post

It said heavy rainfall along the Indian Ocean coastal strip was expected from Sunday, intensifying over the following two days.

“Current observations indicate that Tropical Cyclone Hidaya has made landfall on the coast of Tanzania. However, there is another depression developing behind it,” it said.

There was no immediate confirmation from the Tanzanian authorities.

People in the Mathare slums collect items before being relocated to shelters in Nairobi, Kenya after floods and landslides triggered by heavy rains hit Kenya. Photo: Xinhua

In its latest update earlier Saturday, the Tanzanian Meteorological Authority said there had been strong winds and heavy rain along the coast overnight.

In the Mtwara area, it said 75.5 millimetres (three inches) of rain had been reported in 12 hours, compared to the average May rainfall of 54 millimetres.

The Tanzanian agency has advised people living in risk-prone areas and those involved in marine activities to take “maximum precautions”.

The Climate Prediction and Applications Centre for East African trade bloc IGAD said on Friday that Cyclone Hidaya would peak at gusts of 165 kilometres (100 miles) per hour when it made landfall.

Cyclone season in the southwest Indian Ocean normally lasts from November to April, and there are around a dozen storms each year.

Kenyan President William Ruto on Friday described the weather picture as “dire” and postponed the reopening of schools indefinitely with the approach of the nation’s first-ever cyclone.

Kenya’s President William Ruto addresses the nation following heavy rains and subsequent flooding in the country. Photo: Reuters

Around 210 people have died in Kenya from flood-related incidents and nearly 100 are missing while 165,000 have been forced to flee their homes, according to government data.

“No corner of our country has been spared from this havoc,” Ruto said in a televised address to the nation. “Sadly, we have not seen the last of this perilous period.”

On Thursday, the interior ministry ordered anyone living near major rivers or dams to leave the area within 24 hours or face “mandatory evacuation for their safety”.

It warned that 178 dams and water reservoirs were full or almost full and might spill over, posing a risk to people in their vicinity.

Opposition politicians and lobby groups have accused the government of being unprepared and slow to respond despite weather warnings.

At least 155 people have also been killed in Tanzania by floods and landslides that have swallowed homes and destroyed crops.

02:30

Dubai airport flooding from record rainfall strands thousands of travellers

Dubai airport flooding from record rainfall strands thousands of travellers

East Africa is highly vulnerable to climate change and this year’s rains have been amplified by the El Nino weather pattern – a naturally occurring climate phenomenon typically associated with increased heat globally that leads to drought in some parts of the world and heavy downpours elsewhere.

The heavier than usual rains have also claimed at least 29 lives in Burundi and displaced tens of thousands since September, the United Nations said.

Weather-related deaths have also been reported in Ethiopia, Rwanda, Somalia and Uganda.

UN refugee agency UNCHR said it was “particularly concerned” about thousands of refugees displaced in Burundi, Kenya, Somalia and Tanzania.

“[They are] being forced to escape once again for their lives after their homes were washed away,” UNHCR spokesperson Olga Sarrado Mur said on Friday.

Late last year, more than 300 people died in rains and floods in Ethiopia, Kenya and Somalia, just as the region was trying to recover from its worst drought in four decades.

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Tech

More than 400 killed in East Africa as cyclone triggers floods and landslides – South China Morning Post

It said heavy rainfall along the Indian Ocean coastal strip was expected from Sunday, intensifying over the following two days.

“Current observations indicate that Tropical Cyclone Hidaya has made landfall on the coast of Tanzania. However, there is another depression developing behind it,” it said.

There was no immediate confirmation from the Tanzanian authorities.

People in the Mathare slums collect items before being relocated to shelters in Nairobi, Kenya after floods and landslides triggered by heavy rains hit Kenya. Photo: Xinhua

In its latest update earlier Saturday, the Tanzanian Meteorological Authority said there had been strong winds and heavy rain along the coast overnight.

In the Mtwara area, it said 75.5 millimetres (three inches) of rain had been reported in 12 hours, compared to the average May rainfall of 54 millimetres.

The Tanzanian agency has advised people living in risk-prone areas and those involved in marine activities to take “maximum precautions”.

The Climate Prediction and Applications Centre for East African trade bloc IGAD said on Friday that Cyclone Hidaya would peak at gusts of 165 kilometres (100 miles) per hour when it made landfall.

Cyclone season in the southwest Indian Ocean normally lasts from November to April, and there are around a dozen storms each year.

Kenyan President William Ruto on Friday described the weather picture as “dire” and postponed the reopening of schools indefinitely with the approach of the nation’s first-ever cyclone.

Kenya’s President William Ruto addresses the nation following heavy rains and subsequent flooding in the country. Photo: Reuters

Around 210 people have died in Kenya from flood-related incidents and nearly 100 are missing while 165,000 have been forced to flee their homes, according to government data.

“No corner of our country has been spared from this havoc,” Ruto said in a televised address to the nation. “Sadly, we have not seen the last of this perilous period.”

On Thursday, the interior ministry ordered anyone living near major rivers or dams to leave the area within 24 hours or face “mandatory evacuation for their safety”.

It warned that 178 dams and water reservoirs were full or almost full and might spill over, posing a risk to people in their vicinity.

Opposition politicians and lobby groups have accused the government of being unprepared and slow to respond despite weather warnings.

At least 155 people have also been killed in Tanzania by floods and landslides that have swallowed homes and destroyed crops.

02:30

Dubai airport flooding from record rainfall strands thousands of travellers

Dubai airport flooding from record rainfall strands thousands of travellers

East Africa is highly vulnerable to climate change and this year’s rains have been amplified by the El Nino weather pattern – a naturally occurring climate phenomenon typically associated with increased heat globally that leads to drought in some parts of the world and heavy downpours elsewhere.

The heavier than usual rains have also claimed at least 29 lives in Burundi and displaced tens of thousands since September, the United Nations said.

Weather-related deaths have also been reported in Ethiopia, Rwanda, Somalia and Uganda.

UN refugee agency UNCHR said it was “particularly concerned” about thousands of refugees displaced in Burundi, Kenya, Somalia and Tanzania.

“[They are] being forced to escape once again for their lives after their homes were washed away,” UNHCR spokesperson Olga Sarrado Mur said on Friday.

Late last year, more than 300 people died in rains and floods in Ethiopia, Kenya and Somalia, just as the region was trying to recover from its worst drought in four decades.

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Tech

With 1 eye on China, Japan launches whistle-stop diplomatic tour of Global South – South China Morning Post

As well as stepping up engagement, Tokyo’s aim is to narrow the development gap among countries in the Global South – a term for a loose grouping of developing nations – according to Céline Pajon, head of Japan research at the French Institute of International Relations’ Centre for Asian and Indo-Pacific Studies in Paris.

Strategic considerations were front of mind during the visits, Pajon said, noting that Japan’s free and open Indo-Pacific plan was particularly relevant to Madagascar, given the island’s location in the western Indian Ocean, separated from the African continent by the Mozambique Channel.

The 1,700km (1,100-mile) strategic waterway is primarily used for trade and the transport of energy resources and minerals, but drug trafficking, illegal fishing and piracy have also become problems in recent years.

Boats operate off the coast of Paquitequete, on the opposite side of the Mozambique Channel from Madagascar. Piracy, trafficking and illegal fishing have become issues in the waterway in recent years. Photo: AFP

“Japan is thus seeking to strengthen maritime connectivity and security, through investments in the Toamasina Port and provision of patrol boats,” Pajon said, referring to Madagascar’s main port. She added that economic security was another key consideration as the island is rich in natural resources and minerals such as nickel.

In a meeting with Madagascar’s President Andry Nirina Rajoelina on Sunday, Kamikawa said Japan wanted to contribute to the African country’s economic resilience by improving mineral-resource production and fostering urban growth. In her meetings with senior Ivory Coast officials later in the week, she stressed the importance Tokyo attaches to the country as a gateway to the francophone region of West Africa.

Pajon said the minister’s visits were also aimed at laying the groundwork for the ninth Tokyo International Conference on African Development (TICAD), which is set to be held in the Japanese port city of Yokohama in August next year.

Japanese Prime Minister Fumio Kishida delivers a virtual address to the eighth Tokyo International Conference on African Development, held in Tunis in 2022, as seen from the media centre. Photo: Kyodo

Japan’s footprint in Africa

Japan launched the TICAD in 1993, becoming the first Asian country to forge closer ties with Africa through an institutional framework, according to Purnendra Jain, an emeritus professor at the University of Adelaide’s Department of Asian Studies who specialises in Japan studies.

Beijing and New Delhi’s efforts – the Forum on China-Africa Cooperation and India-Africa Forum Summit – came later by comparison, starting in 2000 and 2008, respectively.

“China’s financial clout and political influence are enormous, and it is beyond Japan’s capacity to match China’s financial support to Africa, nor does it intend to do that,” said Jain, who is also a visiting senior fellow at the National University of Singapore’s Institute of South Asian Studies.

“However, Japan’s approach to Africa has been measured, nuanced and balanced, and Tokyo has involved many other stakeholders in the TICAD dialogue.”

China-Africa trade hit US$282 billion in 2023 but Africa’s trade deficit widens

China’s trade with Africa hit US$282 billion last year, nearly 12 times the US$24 billion in trade Japan does with the continent each year. Aid is more closely matched, however, with Japan pledging US$30 billion to Africa in 2022, a year after China had promised US$40 billion in loans and aid.

Ovigwe Eguegu, a policy analyst at African-led international development consultancy Development Reimagined, cited Nigeria and Ivory Coast as examples of Japan’s trade links with the continent.

The two countries are some of the biggest African importers of Japanese goods – mainly vehicles – but Eguegu said Chinese brands such as Sinotruk and Guangzhou Automobile Group had been aggressively competing for more than a decade to carve out their own market share.

“Beyond trade, Japan is aiming to deepen its political and diplomatic footprint in Africa at a time [when] African countries and the African Union are speaking with a louder voice in the international arena,” he said.

Passengers disembark from a train at Mobolaji Johnson Railway Station earlier this year on the China-built Lagos-Ibadan Railway. Chinese development loans to Africa have dropped in recent years. Photo: Xinhua
Shinichi Takeuchi, director of the Tokyo University of Foreign Studies’ African Studies Centre, said Kamikawa’s visit to Africa was timely given the reduction in China’s financial largesse towards the continent in recent years.

“China is a huge player in Africa … However, its economic commitment has reduced since the end of 2010s. The Japanese government wants to show itself as a stable partner,” Takeuchi said.

Chinese loans to Africa dropped to US$2.22 billion in 2021-2022, according to data compiled by Boston University’s Global Development Policy Centre and reported in September, down from a peak of more than US$28 billion in 2016.

Renewed focus on South Asia

As China continues to expand its regional footprint, Japan is also looking to expand trade and other areas of cooperation with Sri Lanka and Nepal.

During her trip to Sri Lanka on Saturday and Sunday, Kamikawa was expected to pay courtesy calls to President Ranil Wickremesinghe and Prime Minister Dinesh Gunawardena.

The Indian Ocean island nation is a key part of Japan’s Indo-Pacific strategy and Pajon said Colombo was expected to continue seeking help from Tokyo to lighten its heavy debt burden.

“Japan has been playing a key role, along with France and India, in helping restructure Sri Lanka’s debt, while providing grants to support the country,” she said. “A debt recovery would allow Japan to resume its loans to Sri Lanka’s port infrastructure and more.”

Sri Lankan capital Colombo seen at sunset last month. Japan has been playing a key role in restructuring Sri Lanka’s heavy debt burden, observers say. Photo: AFP
Sri Lanka declared bankruptcy in April 2022, defaulting on more than US$83 billion of debt – more than half of that owed to foreign creditors – and turned to the International Monetary Fund for a bailout package.

In a move aimed at pushing forward negotiations on restructuring Sri Lanka’s debt, Japan joined India and France last April in launching an initiative that looked to kick off a series of meetings among the island nation’s creditors. An agreement on restructuring debt was reportedly reached in November.

Historically, Japan and Sri Lanka have had strong relations, but these were put to the test when former president Gotabaya Rajapaksa upset Tokyo by unilaterally scrapping several Japanese-funded projects, Jain said.

As such, Kamikawa’s trip to Colombo could become a platform for both countries to reset ties.

Tokyo would ideally like to assist Sri Lanka and Nepal to strike a balance so they do not feel crushed under a big power rivalry between China and India

Purnendra Jain, academic specialising in Japan
“Kamikawa’s mission is to build up the relationship,” he said, noting that Rajapaksa’s successor, Wickremesinghe, had apologised to Japanese Prime Minister Fumio Kishida for the previous president’s actions in Tokyo last year.

Her Nepal stop on Sunday, meanwhile, is expected to see Kamikawa unveil plans for Japan to play a bigger role in Nepal’s economic and social development.

“Japan’s balancing act in Nepal is important, so China’s presence does not become oversized,” Jain said.

China has built airports, highways and hydropower projects in Nepal under its Belt and Road Initiative to grow global trade. Railway lines, electricity transmission projects and a proposed development corridor linking the Himalayan nation with China’s sprawling metropolis of Chongqing via Tibet and Sichuan are also under discussion.

Nepal was once renowned for its high-end tourism. Now, it wants its crown back

Japan was not just seeking to act as a counterweight to China, but also offer South Asia an alternative to India, Jain said.

“Tokyo would ideally like to assist Sri Lanka and Nepal to strike a balance so they do not feel crushed under a big power rivalry between China and India, who have dominant influence in Nepal,” he said.

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