FF Podcast: Tapaas Found a 16,000-Account Syndicate Spanned…
By Rick Steves
AI summary of the source article
Tapaas identified a coordinated trading syndicate of 16,000 accounts across ten brokers taking out a median of roughly $7,500 daily per account, CEO Jon Squires revealed.
Key facts
- Tapaas detected a 16,000-account syndicate operating across ten brokers, where the median account extracted approximately $7,500 per day.
- Tapaas found approximately 30,000 accounts going long through one large broker and short through another in a single day.
- Abusive trades typically represent around 10% of activity in an instrument but can surge to 20% to 25% during certain periods.
Source excerpt · FinanceFeeds
Tapaas CEO Jon Squires has described a coordinated trading syndicate involving 16,000 accounts across ten brokers, arguing that no single FX or CFD firm could have identified the complete pattern from its own data. Speaking with FinanceFeeds Editor-in-Chief Nikolai Isayev, Squires also disclosed that Tapaas found approximately 30,000 accounts going long through one large broker and short through a…