Trading 212 Head of Product Sergei Riabov has left his role, six months after joining from Revolut. He confirmed his departure in a LinkedIn update and outlined plans to focus on artificial intelligence.Short Tenure at Trading 212Riabov joined the brokerage last December. He worked on product development, platform improvements, and AI-related initiatives. He said the company moved quickly and relied heavily on data to guide decisions.“Six months ago, I wrote about why I was joining. Looking back, I genuinely love what we built in such a short window - from multiple new products and improvements we shipped to huge progress on AI transformation,” he said.The environment is rare: the pace the company moves at, the depth of data, and teams genuinely open to learning and taking on hard challenges. Focus Shifts to AI.” Riabov said rapid changes in artificial intelligence influenced his decision to leave. He plans to study how the AI sector develops and identify areas worth pursuing. He will continue working as an advisor while exploring opportunities in AI.Before Trading 212, Riabov held senior roles at Revolut. He led the Wealth and Trading division, overseeing product, strategy, and operations. During his time there, the business increased activated users and improved retention.He also led product strategy for trading services, including the launch of CFDs, ETFs, bonds, and robo-advisory tools. Earlier in his career, Riabov worked at Tinkoff. Trading 212 Posts Record GrowthMeanwhile, Trading 212 continues to expand rapidly in the UK, reporting a 72% jump in 2025 revenue to £277.6 million. Pre-tax profit rose to £123.1 million from £52.9 million and net profit reached £92.2 million. The broker generated nearly £257 million from trading activities and £20.6 million from client interest income, with an additional £1.68 million coming from debit cards, though it did not break down revenue between its CFD and stock trading businesses. Trading 212 has also expanded its product offering in the UK after securing FCA authorization to launch self-invested personal pensions (SIPPs), marking a move it had first signaled as early as 2020. The approval, granted in February 2026, allows the broker to tap into a growing DIY pension market, where more than 6.5 million users manage around £650 billion in assets, and includes the ability to offer crypto exchange-traded notes within its pension product. This article was written by Jared Kirui at www.financemagnates.com.

AIMS has entered Indonesia after securing regulatory approval, marking a key step in its expansion across Southeast Asia. The broker opened its Jakarta office positioning itself to tap into one of the region’s largest and fastest-growing retail trading markets.License Enables Market EntryAccording to the official announcement, the firm received a license from Indonesia’s Commodity Futures Trading Regulatory Agency (BAPPEBTI), allowing it to operate legally and offer trading services to local clients. The approval places AIMS among regulated brokers in the country and enables it to build its presence under local compliance standards.Jakarta, Indonesia – AIMS officially launched AIMS Indonesia on 25th May 2026, marking a major milestone in the company’s regional expansion and reinforcing its long-term commitment to Southeast Asia’s largest economy.https://t.co/mXgiBedfsh pic.twitter.com/MDUWipEg1Z— Market Recap (@forexforum) May 29, 2026AIMS sees Indonesia as a key market due to its population of more than 270 million and rising interest in online trading. Increased smartphone uses and access to digital platforms continue to drive participation in financial markets.Over the years Indonesia has attracted a growing number of global CFD and multi-asset brokers, with Plus500 among them. The broker entered the market by acquiring locally regulated Global Intra Berjangka, a firm that halted new client onboarding in early 2023. Following the deal, Plus500 is now supervised by Bappebti and offers its usual contracts for differences and other standard instruments via a locally registered Indonesian domain, adding another regulated foothold to its broader international expansion.Doo Financial Futures is the latest, having obtained key approval from BAPPEBTI to operate in the local market. The Indonesian arm of Doo Group can now offer securities, futures, CFDs and OTC productsIndonesia Anchors Regional StrategyBut AIMS has also been eying other regions besides Southeast Asia. It transitioned into a prime brokerage business after securing a new Market Maker license from the Australian Securities and Investments Commission (ASIC) on 19 September 2024, a move that followed several months of preparation and led to the cancellation of its previous ASIC authorization in August 2025. Besides acquiring licenses in global jurisdictions, the brand also entered into a partnership with the Lamborghini brand and its winery, bringing together Italian luxury and online trading in a single cross-industry collaboration. The deal links Lamborghini’s long-standing heritage in both supercars and fine wine with AIMS’ trading services across Asia-Pacific and beyond, with both sides presenting it as a move that goes beyond standard marketing. This article was written by Jared Kirui at www.financemagnates.com.

Trading.com, the sister brand of contracts for differences (CFD) brokerage giant XM.com, has secured a Markets in Crypto-Assets Regulation (MiCA) licence, Finance Magnates has learned. The licence was obtained from the Cyprus Securities and Exchange Commission (CySEC).Crypto Is Among “Trading.com’s Long-Term European Growth Strategy”“The successful completion of Trading.com’s MiCA notification process marks another important step in Trading.com’s long-term European growth strategy and reflects the direction the industry is moving in, towards more trusted, transparent and regulated digital asset participation,” a spokesperson for Trading.com's management team told Finance Magnates.“At Trading.com, we see crypto as part of a broader evolution of modern investing. Clients increasingly want access to multiple asset classes through one trusted and regulated environment, without compromising on platform quality, execution standards or user experience. That is exactly where Trading.com is positioned.”However, it remains unclear when and how Trading.com will offer its crypto products.Other prominent brands to obtain the MiCA license in Cyprus are eToro, Revolut and Capital.com.Read more: CySEC Chair on Crypto Perps, Prediction Markets and the High-Wire Act of EU RegulationCrypto, but Only in EuropeThe Trading.com brand already offers crypto CFDs to its European clients.Apart from Europe, Trading.com also has a presence in the United Kingdom and Australia. It, however, does not offer crypto CFDs in those markets. Notably, CFD brokers cannot offer crypto CFDs to retail customers in the UK.Under the MiCA licence, the CFD brokerage operator can only offer physical crypto and other related services within the limits of the European bloc.“Europe remains a strategically important market for Trading.com, and we believe the evolving regulatory landscape creates a stronger environment for innovation, long-term client confidence and sustainable growth across the industry,” the Trading.com spokesperson added.Trading.com, meanwhile, is not the first CFD brand to show interest in physical crypto offerings. Finance Magnates earlier reported on the launch of Pepperstone’s dedicated crypto exchange, while IG Group also added physical crypto, first through a third-party partnership and then by acquiring a crypto exchange. This article was written by Adonis Adoni, Arnab Shome at www.financemagnates.com.

EBENE, MAURITIUS, May 29 – PU Prime, a global multi-licensed online brokerage, is pleased to announce the launch of SpaceX (SPCXUSD), a new pre-IPO CFD product that provides retail traders with broader access to the market narrative surrounding one of the world’s most closely followed private technology companies. Ahead of its expected Nasdaq listing under the ticker symbol SPCX on June 12, the product allows traders to gain leveraged exposure to SpaceX ahead of its highly anticipated initial public offering.The launch comes amid growing global interest in private-market innovation and next-generation technology sectors, including commercial space infrastructure and satellite connectivity. Historically, exposure to high-profile private companies has largely remained limited to institutional and accredited investors. By removing the traditional barriers of private equity, PU Prime is empowering its clients to build a broader, more dynamic portfolio of products.PU Prime noted growing interest among retail traders in thematic opportunities tied to private-market innovation, particularly in sectors shaping the next phase of the global economy. SpaceX has become one of the world’s most closely followed private technology companies, not only because of its valuation but also because of its position at the intersection of commercial spaceflight, satellite infrastructure, and future connectivity.The introduction of SPCXUSD reflects a broader shift in investor interest toward thematic and innovation-driven market exposure, as retail traders increasingly look beyond traditional asset classes to participate in emerging global trends. In response to this evolving demand, PU Prime continues to expand its product offerings across globally relevant market themes.About PU PrimeFounded in 2015, PU Prime is a leading global fintech group and a multi-asset CFD brokerage brand operating through various licensed entities across multiple jurisdictions. Today, the group offers regulated financial products across forex, commodities, indices, shares, and bonds. Operating in over 190 countries with more than 40 million app downloads, the PU Prime group provides innovative trading platforms and an integrated copy trading feature, empowering traders worldwide to achieve financial success with confidence. This article was written by FM Contributors at www.financemagnates.com.

Corporate restructuring frequently involves sweeping operational shifts. X Open Hub takes a different approach, transitioning to the name ‘XTB Institutional.’ The rebranding serves a specific function: it aligns the B2B liquidity provider directly with the parent company. A clear connection to XTB Group provides immediate recognition regarding financial backing and corporate governance. The underlying business model continues without alteration. Existing clients experience their trading infrastructure without any planned disruptions. The objective centres on clarity. Institutional clients need absolute certainty regarding the entities handling their order flow. A unified corporate identity removes unnecessary complexity from the due diligence process.Maintaining focus on multi-asset liquidityXTB Institutional maintains the same core offering previously provided under the X Open Hub banner. The company delivers institutional-grade multi-asset liquidity to a global client base. Brokers retain access to more than 5,000 instruments across key asset classes. These classes include forex, commodities, indices, and equities. The infrastructure supports fast trade execution during all market conditions. Reliable pricing feeds remain essential for high-volume trading desks. The technology stack ensures transparent transactions for professional traders. The B2B focus stays firmly on delivering scalable execution solutions. Execution speed dictates success for retail brokerages passing flow to institutional partners. Low-latency environments prevent slippage during news events and high-volatility sessions. The established infrastructure handles high trading volumes without compromising performance.Benefiting from strong corporate governanceChoosing a liquidity provider involves significant due diligence. C-level executives and heads of dealing evaluate counterparties based on regulatory compliance and operational resilience. Operating as XTB Institutional instantly communicates a high level of corporate maturity, and the backing of a publicly traded entity offers reassurance to potential institutional partners. The XTB Group brings extensive experience in global financial markets. The rebranded division leverages these organisational resources while maintaining an exclusive focus on B2B services. Banks require confidence in the long-term viability of their infrastructure partners. The updated identity reinforces trust in the operational framework. Transparency in financial reporting provides an additional layer of security for professional market participants. The parent company ensures strict adherence to international regulatory standards across all divisions, supported by the governance, reporting standards and regulatory experience of XTB Group. Seamless continuity for existing partnersThe transition to XTB Institutional involves no modifications to legal structures. Client agreements remain fully effective under the current terms, and regulatory arrangements continue uninterrupted. Existing partners will notice no difference in their daily operations. The execution quality stays at the same rigorous standard. Transparency in pricing and trade routing remains a core priority. "The move to XTB Institutional reflects a natural evolution of our business. Our core offering remains unchanged, but the new identity allows us to communicate more clearly who we are: an institutional liquidity and execution brand backed by the strength, experience, and governance of XTB Group. iFX EXPO International 2026 will be an important opportunity for us to present this new chapter to partners, brokers, and industry participants," says Michal Copiuk, CEO.Engaging the B2B Sector in CyprusIndustry professionals gather regularly to discuss market developments and build strategic partnerships. iFX EXPO International 2026 in Limassol serves as a primary meeting point for brokers and liquidity decision-makers. The upcoming spring event provides an ideal setting to introduce the XTB Institutional identity in person. The expo offers a direct channel for presenting the refreshed brand to the B2B community. Face-to-face conversations help establish the trust necessary for long-lasting institutional relationships. Market participants face constant challenges regarding market depth and pricing stability. The discussions will highlight methods for improving operational efficiency. The expo allows the company to demonstrate an ongoing commitment to the institutional sector, and business development teams are ready to outline the benefits of partnering with an experienced liquidity provider. Product specialists will be available to analyse specific execution requirements and suggest tailored configurations.A clear path forward for institutional clientsThe transition marks a definitive step forward in corporate communication. The brand now accurately reflects the maturity of its operations, while the focus remains squarely on supporting the growth of brokers and banks. The alignment with XTB Group provides a solid foundation for future development. Long-term partnerships depend on reliability and clear communication, and the updated corporate identity delivers both elements effectively. The leadership team looks forward to discussing these developments with industry peers throughout the year.Connect with the team in LimassolMeet X Open Hub’s team in Limassol to discuss institutional liquidity and execution solutions. Visit us at booth #31 during iFX EXPO International 2026 to learn more about the upcoming transition to XTB Institutional. Learn more about X Open Hub’s current liquidity offering at xopenhub.pro/liquidity-provider/. The new XTB Institutional website will be available as part of the official rebrand rollout.About X Open HubX Open Hub is an institutional liquidity and execution provider serving brokers, banks, and professional market participants. As part of XTB Group, the company provides multi-asset liquidity across 5,000+ instruments, supporting institutional partners with broad market access, execution quality, transparent pricing, and reliable trading infrastructure. X Open Hub’s offering is designed for B2B clients seeking scalable liquidity solutions backed by the experience, governance, and international presence of XTB Group. This article was written by FM Contributors at www.financemagnates.com.

Just recently, IG Group published its scheduled trading update ahead of the Annual General Meeting (AGM). The company delivered a strong performance in the first quarter of 2026, driven by a broader product offering, disciplined strategic execution, and elevated volatility in commodity markets. IG reported a 19% year-on-year increase in Q1 organic total revenue, reaching £331.2 million. Rather than focusing only on the headline numbers from the latest update, we have made one step back to revisit IG Group’s March 2026 annual presentation to better understand the foundations behind these strong results and the positive market reaction that followed.Product Velocity Many of the drivers behind this performance were already visible in IG’s March 2026 presentation. The sharp growth reported in the latest trading update appears to be partly the result of an aggressive product expansion strategy implemented over the past year. By accelerating product rollouts and closing gaps in its offering, IG continued transforming itself into a broader multi-asset financial ecosystem. The results of this strategy are clearly visible in Q1 2026. The rollout of zero-commission equity trading, flexible ISA products, and integrated spot crypto trading in markets such as the UK, Australia, and Singapore allowed IG to capture rising demand across multiple segments. This rapid expansion materially changed user behaviour, contributing to a 79% year-on-year increase in stock trading and investment revenue. Continuous updates, including the expansion of Freetrade’s mutual fund offering to more than 1,000 funds and the launch of advanced charting tools alongside 50 new crypto assets, helped create a more engaging platform ecosystem. Here are some other interesting points that competitors missed in IG’s previous report: Automation Marketing Efficiency We break down all the elements behind the recent success of IG Group in our latest article, packed with insights. Read our full analysis on the FM Intelligence portal. This article was written by Sylwester Majewski at www.financemagnates.com.

ICM.com finally surrendered its Financial Conduct Authority (FCA) license on 2 April 2026, almost two long years after it applied to cancel its UK authorisation. The reason for this delay, however, remains unclear.Finance Magnates earlier reported on the broker’s plans to surrender its FCA license in 2024, following a notice posted on the UK regulator’s registry page.Why Are Brokers Leaving the UK?Following the licence surrender, the company has wrapped up its services under its UK unit. Its UK-specific website is also non-functional, displaying a message urging customers to contact customer service “to arrange withdrawal of any remaining funds”.The broker also withdrew its retail activities around 2023 after posting a £1 million loss for the 2022 financial year.Although the company never publicly clarified its decision to exit the UK, it is one of many brokers to end their presence in the country. AETOS, ADSS, FXTM, HTFX, and GMI Markets are only some of the brands that have left the UK market over the past few years. While for most brokers the decision was a strategic geographical move, for a few it was part of a broader global withdrawal.ICM.com obtained its FCA license in mid-2011, according to the FCA registry.The UK Is Tough, but Still Attracting BrokersDespite the UK exit, ICM.com remains regulated in other jurisdictions. Its website shows that the broker holds licences from regulators in Mauritius and Seychelles, which are regarded as offshore jurisdictions. It also holds two licences in the UAE, one in Dubai and the other in Abu Dhabi. The broker also operates a licensed subsidiary in Switzerland.While ICM.com and other companies have left the UK, a handful have entered the country. Among them were Ultima Markets and Moneta Markets, both of which secured FCA authorisation last year by acquiring existing businesses in the country rather than seeking fresh licences.At the end of 2024, the British regulator revealed that around 20 per cent of local CFD brokers, including spread betting and rolling forex providers, were conducting little or no activity, labelling them as ‘halo firms’.Finance Magnates earlier reported that there were 74 FCA-regulated companies with permission to offer CFD products to retail traders in the United Kingdom as of 1 December 2025. This article was written by Arnab Shome at www.financemagnates.com.

The retail trading industry should pay very close attention to what regulators are signalling right now. Buried inside ESMA's latest Common Supervisory Action priorities was a message that many firms likely underestimated: digital platforms ranked second among regulatory concerns. Not leverage. Not disclosures. Not even product complexity. It's digital platforms. That alone should tell the industry where this is heading. Because regulators are no longer just looking at what retail investors trade. They are now looking at how platforms influence them to trade in the first place. And the tone is rapidly changing.An Empirical Case by a RegulatorFor years, regulatory concerns about trading app design were theoretical. Regulators raised concerns. Papers were published. Industry pushed back. That phase is over. In April 2025, the Financial Conduct Authority published what is likely the most consequential piece of regulatory research on trading app design ever produced. Drawing on real consumer transaction data linked to credit files across multiple UK trading platforms, the first study of its kind, the FCA's findings are not directional warnings. They are data. The median user of a high digital engagement practice (DEP) app made seven times more trades than the median user of a low engagement app. Users of high engagement apps were 4.8 percentage points more likely to suffer a large loss, defined as a realised loss exceeding 2% of annual net income. They were almost twice as likely to display what the FCA calls potentially problematic engagement, elevated, erratic, or concerning trading behaviour modelled directly on problem gambling frameworks. They logged in at night, between 11 pm and 6 am, four times as often as users of low engagement platforms. And the rate of financial distress among high-engagement app users was 5.1%, more than twice the 1.9% seen on low-engagement platforms, rising to 7.3% for CFD users specifically. These are not survey results. These are real transactions, linked to real credit files, across real platforms.Related: Will Curbs on the Gamification of Trading End Retail Demand?The FCA has produced an empirical case that platform design drives materially worse outcomes for retail investors. One further finding deserves particular attention. As of the period studied, none of the firms in the sample had conducted any internal testing of the causal impact of their digital engagement practices on consumer outcomes. Not one.The Global Standard-Setter Has Spoken If the FCA paper established the evidence base, IOSCO's final report on digital engagement practices, published on 19 May 2025, as part of its Roadmap for Retail Investor Online Safety, established the global regulatory expectation. IOSCO's membership includes the ESMA, the FCA, the SEC, and virtually every other major financial regulator worldwide. When IOSCO publishes a final report, it is not a discussion paper. It is a global signal about the direction of supervisory travel. The DEPs' final report addresses gamification of trading websites and apps directly, badges, rewards, celebratory messages, and instant gratification features, noting that these affect investors' evaluation of risk and potentially lead to worse outcomes. IOSCO made a specific observation that cuts to the heart of the issue: in the traditional model, where a trader called their broker to place a trade, there was an intermediary who could mitigate risky behaviour. That buffer no longer exists. Simultaneously, IOSCO published companion reports on finfluencers and online imitative trading, identifying a growing intersection between platform-driven engagement, influencer-driven acquisition, and the gamification mechanics that push retail investors toward behaviour they would not otherwise exhibit.Read more: The UAE Regulated Finfluencers First. Now Comes the Hard Part.The three reports together are not coincidental. They describe the same ecosystem from three different angles. IOSCO's Chairman was direct: "From finfluencer promotions to gamified apps and imitative content, these reports set out globally aligned expectations for ethical conduct and effective oversight." Globally aligned expectations. That phrase should be read carefully by every compliance officer in the retail trading industry. The Industry's Defence Is Already Under Pressure SIFMA, representing the US securities industry, pushed back on IOSCO's consultation, arguing that digital engagement practices are "nothing more than the natural evolution of customer engagement practices" and that additional DEP-specific policies, procedures, risk management systems, testing, and disclosures are not necessary beyond existing frameworks. That argument is the most revealing thing the industry has said on this topic. Because it describes precisely the gap that regulators have now documented empirically. The FCA found that none of the firms studied had tested the impact of their own engagement features on consumer outcomes. IOSCO found that existing frameworks were insufficient to address the emerging risk. ESMA elevated digital platforms to the second priority of its Common Supervisory Action. Surveill's own assessment of 154 CySEC-regulated CFD and FX firms found that 90% had no policy language governing how platform design choices create conflicts between firm commercial interests and client outcomes. The firms saying existing frameworks are sufficient are the same firms whose existing frameworks contain nothing about the conflict implications of their platform design. That is not a defence. It is an illustration of the problem.#WSJWhatsNow: Some behavioral researchers say the simplicity of Robinhood’s brokerage app nudges inexperienced investors to take bigger risks. @4BetterOrWurst explains. https://t.co/g2VHVy80ub pic.twitter.com/Yf0eTRQkgi— The Wall Street Journal (@WSJ) August 29, 2020The Regulatory Convergence Three major regulatory bodies published or acted on digital engagement practices within a twelve-month window. The FCA published empirical research in April 2025. IOSCO published its final global report in May 2025. ESMA's Common Supervisory Action is already underway across every EU national competent authority, including CySEC and MFSA, which has digital platforms as its second priority.This is not a coincidence. This is coordination. And coordination at this level has historically preceded enforcement. Historically, brokers defended themselves through disclosure. Risk warnings, terms and conditions, appropriateness tests. The assumption was that if the customer understood the risks, the responsibility ultimately sat with the investor. But digital engagement practices challenge that framework entirely because they influence behaviour before the investment decision is even made. A push notification encouraging a user to trade volatility is not neutral infrastructure. A leaderboard encouraging users to outperform other traders is not a passive design. A frictionless onboarding process engineered to minimise hesitation is not merely convenient. These are behavioural systems. Regulators are now treating them that way. Where This Is Heading Once regulators begin viewing trading apps through the same lens as addictive digital products, social media algorithms, or online gambling mechanics, and the FCA's research explicitly draws on problem gambling frameworks to measure potentially problematic engagement, the regulatory conversation moves far beyond disclosure obligations. It becomes a discussion about manipulation. That is a far more dangerous conversation for industry because, unlike leverage restrictions or marketing rules, behavioural regulation cuts directly into the growth engine of many retail platforms. Engagement is no longer just a UX strategy. It is becoming a regulatory risk. The firms that survive the next wave of scrutiny will not be the ones with the flashiest interfaces or the highest acquisition numbers. They will be the firms that recognise, early, that regulators are no longer examining only the products being sold. They are examining the psychology of the platforms selling them. This article was written by Aydin Bonabi at www.financemagnates.com.

Rising phishing attacks have pushed IG Securities to tighten account protection, with the broker set to require all clients to enable two-factor authentication (2FA) by June.IG Securities confirmed that it will make 2FA compulsory for all users, replacing its current optional setup. The company linked the move to a sharp increase in unauthorized access attempts across the industry, driven by phishing scams and other methods targeting client credentials.“Unauthorized access to securities accounts through phishing scams and other means is rapidly increasing across the industry,” the company said in its notice.Mandatory 2FA RolloutOnce the new rule takes effect, clients who have not activated 2FA will be unable to log into their accounts. Users who already completed the setup will not need to take further action. The broker urged clients to enable the feature in advance to avoid disruptions. It warned that support teams may face a surge in requests around the implementation period.Related: IG Japan Halts Retail Vanilla Options Trading Three Months After LaunchThe setup process requires users to install an authentication app, such as Google Authenticator or Microsoft Authenticator, and enable 2FA through the IG trading app settings. Notably, IG Japan recently admitted to mishandling client data after uncovering two separate issues involving “specific personal information,” including Japan’s My Number identification details. The broker said some employees within the wider IG Group had unauthorized internal access to customer records via an internal system. It potentially affected 162,879 clients whose names, dates of birth, addresses, contact details, and My Number data could be viewed. The firm said it does not know when this internal access problem began.IG Japan Faces Data Handling Questions In a second issue, IG Japan reported that data for 29,734 customers was stored on an external server managed by IG Markets Limited without prior approval from IG Securities, following a contractor oversight around late January. IG Japan suspended new vanilla options trades for retail clients, only three months after launching the product for individual investors in February. It remains unclear whether this step was related to security risks. The pause came as the broker continues to offer vanilla options trading to corporate clients, a segment it added earlier when it expanded the service beyond retail. This article was written by Jared Kirui at www.financemagnates.com.

Most of the brokers that clear exchange-traded derivatives plan to spend more on the technology behind their trades over the next three years.The study, conducted by research firm Acuiti in association with Nasdaq, found that 69% of futures commission merchants intend to increase their post-trade budgets, with 46% planning to lift spending by more than 10%. Acuiti interviewed senior executives at 50 bank FCMs, non-bank FCMs and other clearing brokers worldwide, and separately polled its network of asset managers and hedge funds.The numbers describe an unglamorous corner of the market that firms underfunded for years and now feel pressure to fix.Legacy Tech Tops the List of FCM Pain PointsJust over half of the clearing firms surveyed, 53%, said their dependence on legacy post-trade systems was their single biggest operational problem. A similar share complained that there are not enough third-party vendors to choose from.Most firms do not build this plumbing themselves. About 35% rely mainly on vendor platforms, 15% run mostly in-house systems and the other half use a mix of the two, which spreads the cost and frees firms to focus on winning clients, the report said.The concern, the report noted, is that much of that core technology is nearing the end of its life. The strain showed during the volatility that followed the spread of Covid-19 in 2020, when post-trade systems buckled under record volumes and triggered a wave of spending across the sell-side. This is not the first time Acuiti has flagged the trend, having reported in 2024 that US clearing brokers were pouring money into front-office technology to fend off non-bank rivals.A Shrinking Vendor Pool Meets a Spending WaveThe catch is that firms have fewer places to take their money. The number of third-party vendors serving the market has fallen over the past two decades as mergers thinned the field and some providers withdrew, the report said. That has left clearing brokers leaning on a handful of incumbents such as FIS and ION Group even as they complain about the lack of choice.That backdrop helps explain why Nasdaq attached its name to the research. The exchange operator sells Calypso, a clearing platform it pitches as a single system for risk, margin and collateral across listed and over-the-counter derivatives, and the survey's findings line up closely with what Calypso is built to address. Nasdaq is not the only firm chasing the work. LSEG Technology supplied the post-trade platform that London clearing house LCH's EquityClear migrated onto, and in May 2024 Nasdaq agreed to plug its Real-Time Clearing system into FIA Tech's industry data network. Nasdaq has also been pushing Calypso into digital assets, partnering with Talos in March on tokenized collateral after a green light from US securities regulators.Spending Set to Rise, With AI in the FrameAsked why budgets are climbing, firms gave two main reasons: more automation and client demand for new features. Both point to the same squeeze, the report said, with brokers trying to cut manual work while keeping demanding customers satisfied.Artificial intelligence is edging into the picture. More than half of the firms, 56%, said they risk falling behind competitors if they do not fold AI or machine learning into their clearing operations. When sizing up a vendor, resilience and reliability ranked first, followed by ease of integration, total cost of ownership and real-time processing.Buy-Side Wants Clearer Margin MathThe asset managers and hedge funds on the other side of these relationships had their own complaints. Not one described the way their brokers treat risk across products as very consistent, while 82% called it quite consistent and the rest found it not very consistent at all.Margin is the sore spot. Some 47% of buy-side firms named a lack of transparency over how margin is calculated as their top frustration, and 38% pointed to inconsistent methods across products and clearing houses. They also want faster, more integrated data feeds, the report said.What It Means for US Retail Forex BrokersThe FCM label stretches well beyond the futures clearing giants the report focuses on. In the United States, retail forex dealers register as FCMs too, which puts several familiar brokerage names inside the same regulatory bucket. Only six of them report retail forex obligations to the CFTC, holding about $488.59 million in customer deposits in March.That pool has been shrinking and consolidating much like the vendor market the report describes. StoneX, the owner of Forex.com, became the largest non-bank FCM in the country, by its own account, after buying futures broker R.J. O'Brien in a deal valued at roughly $900 million. Retail-focused firms are moving the other way into listed markets, with IG's tastytrade and Plus500 both chasing US futures and options revenue. This article was written by Damian Chmiel at www.financemagnates.com.

Bitcoin (BTC) traded near $73,300 on Thursday, May 28, 2026, sliding for a third straight session and printing an intraday low close to $72,800 as a $1.3 billion IBIT dark-pool block, a strong dollar, and renewed Middle East tension drained institutional bids. The move extends a pullback from above $82,000 earlier in May. US spot Bitcoin ETFs have now bled more than $2 billion since their last net inflow on May 14, an eight-session outflow streak. So the question pricing the tape is simple: why is Bitcoin falling again after April and May looked like a recovery? My answer starts with the chart.Follow me on X for real-time Bitcoin analysis: @ChmielDkBitcoin Price Technical Analysis: BTC Stays Bearish Below the 50 EMABitcoin is falling for a third consecutive session and has surrendered the support band it defended through mid-May. Resistance has re-formed around $75,000, and today's intraday low near $72,800 confirms sellers are back in control. The 50 EMA is once again capping price, which reopens the path to the lower edge of the multi-week consolidation between $65,000 and $63,000, the zone that aligns with the February and March lows. My chart shows that band can stretch to the round $60,000 level, where price briefly traded in early February.In 15 years reading crypto, FX and metals charts, a third-session breakdown back through a rising 50 EMA has rarely resolved higher without a fresh macro catalyst. You can follow my full coverage on my analyst page.The structure only flips if Bitcoin reclaims the 200 EMA at $80,000 to $81,000. Even then, a second resistance shelf sits at $81,000 to $85,000, drawn from the November and December lows of last year. As I flagged when Bitcoin cracked $80,500, that moving average was the last defense, and it broke.My bias stays bearish. I am targeting further downside from current levels, roughly 23%, which projects toward the $56,000 to $57,000 area once the $63,000 to $60,000 floor gives way.Why Bitcoin Is Falling? Macro Pressure and a $1.3 Billion IBIT BlockThe selling is macro-led. Bitcoin dropped with other risk assets after reports the US military struck Iranian drone sites near the Strait of Hormuz, pushing oil and the dollar higher and reviving inflation fears before Friday's PCE print. The same Hormuz risk that lifted Bitcoin above $80,000 on Iran de-escalation three weeks ago is now working in reverse. Bitfinex analysts peg aggregated futures open interest below $55 billion, the lowest since April 11 and down 14% from levels above $80,000.The flow data is heavier. US spot Bitcoin ETFs lost about $334 million on Tuesday, $192 million of it from IBIT alone, and have shed over $2 billion across eight sessions. Jane Street cut its Bitcoin ETF holdings around 70% in the first quarter, and Goldman Sachs trimmed roughly 10%.Paul Howard, Senior Director at Wincent, is not reading panic into it. "BTC pricing has remained resilient throughout the month," Howard said, noting trading volumes rebounded more than 20% over 48 hours even as the $334 million outflow extended a week-long institutional sell-off. That resilience is the bull's strongest card right now.The drivers in one view:Geopolitics: US-Iran tension at the Strait of Hormuz lifting oil and the dollarMacro: PCE data ahead, with a hawkish Fed holding ratesFlows: Eight-session ETF outflow streak topping $2 billion since May 14Derivatives: Open interest below $55 billion, stop-losses triggered under $75,500What the IBIT Dark-Pool Block Actually WasThe headline number scared the tape. A single dark-pool block of roughly 29 million IBIT shares, about $1.29 billion, crossed Nasdaq at 10:30 a.m. ET on Tuesday, which Bloomberg's Eric Balchunas called one of the largest IBIT prints on record. Bitcoin fell about 1.5% within ten minutes, from near $77,900 to $76,700.Adam Haemms, Head of Asset Management at Tesseract Group, reads the mechanic differently. IBIT is redemption-driven, so when shareholders exit, the trust sells underlying Bitcoin to fund the cash leg, roughly 16,400 BTC in this case. "The market mechanic was closer to a position transfer," Haemms said, stressing BlackRock made no directional call. What he found notable was the absorption: the print cleared near fair value with Bitcoin holding around $75,900, which on a thinner order book would have repriced lower.US Bitcoin ETFs have become the dominant institutional gateway, a shift I tracked as whales moved $3 billion into IBIT. The parallel is instructive: a near-identical $333 million IBIT record outflow in early 2025 preceded stabilization, not collapse.Bitcoin Price Predictions: Bear Target vs Institutional ResilienceThe forecasts split wide, and I do not buy all of them equally. My own target sits at $56,000 to $57,000, a 23% drop that I think holds only if $63,000 breaks on a daily close, and above that the bear case stalls. Intellectia.ai's algorithmic $80,500 call for end-May implies a 10% rebound, which my chart says is the wrong direction while the 50 EMA caps price.Carol Alexander's $75,000 to $150,000 range with a $110,000 center is the most honest of the bull set, because it prices the volatility rather than a single number. Standard Chartered and Bernstein both hold $150,000 for 2026, a spread I detailed after BTC's Hormuz-driven pop to $72,000, but that number was credible at January's $98,000, not after a 25% structural unwind, and I see it as stretched without a Fed pivot. The conservative full-year band of $40,462 to $118,296 brackets my bear target neatly, and it is the forecast I would actually trade around.Bitcoin Price FAQWhy is Bitcoin falling today? Bitcoin fell toward $72,800 on May 28, 2026, its third straight down session, on a mix of macro and flow pressure. US military strikes near the Strait of Hormuz lifted the dollar and oil, while US spot Bitcoin ETFs extended an eight-session outflow streak past $2 billion. A $1.3 billion IBIT dark-pool block on Tuesday added to the bearish tone.What was the $1.3 billion IBIT block trade? On Tuesday, May 26, a single dark-pool block of about 29 million IBIT shares, roughly $1.29 billion, crossed Nasdaq at 10:30 a.m. ET. Bloomberg's Eric Balchunas called it one of the largest IBIT prints on record. Tesseract's Adam Haemms argues it was a redemption-driven position transfer of about 16,400 BTC, not a BlackRock directional call, and that it cleared near fair value.How low can Bitcoin go in 2026? My technical analysis targets $56,000 to $57,000, about 23% below current levels, if the $63,000 to $60,000 consolidation floor breaks on a daily close. That zone aligns with the February and March lows. A conservative full-year model brackets a wider $40,462 to $118,296 range, so my bear target sits in the lower half of consensus rather than at the extreme.What needs to happen for Bitcoin to turn bullish? The structure flips only if Bitcoin reclaims the 200 EMA at $80,000 to $81,000 on a daily close. Even then, a second resistance shelf at $81,000 to $85,000, drawn from last November and December's lows, would cap the first attempt. Until that happens, my bias stays bearish, with the 50 EMA rejecting every bounce this week near $75,000.Are Bitcoin ETF outflows a sell signal? Not necessarily. US spot Bitcoin ETFs have shed over $2 billion since May 14, but Wincent's Paul Howard notes BTC pricing stayed resilient as volumes rose more than 20% in 48 hours. A similar $333 million IBIT record outflow in early 2025 preceded stabilization, not collapse. Outflows signal institutional caution, not automatically a structural top. This article was written by Damian Chmiel at www.financemagnates.com.

Spotware Systems has added a feature to its cTrader platform that lets traders attach up to five take-profit orders to a single position, closing parts of a trade in stages instead of all at once. The company said the tool, called advanced take profit, is now live across cTrader's mobile, web and desktop apps.At each price target, a trader sets how much of the position to close. When the market reaches that level, cTrader shuts that portion automatically and keeps the rest open, according to the company. The release also adds a break-even stop loss, which shifts a stop to the entry price once a trade moves far enough in the trader's favor.How the Staggered Exit WorksTraders can add, edit or remove the targets from the order ticket, the position screen or directly on the chart, and they can change them while a trade is running, the company said. A position might close one slice at the first target, more at the second and let the remainder run.Spotware presented the feature as a way to bank gains at several points without watching the screen, with the platform handling execution. None of the building blocks are new to retail trading, though.[#highlighted-links#] Partial position closes and break-even stops have circulated through rival platforms and third-party scripts for years, and cTrader has been shipping order and chart tools at a steady clip, including a version 5.2 release earlier this year that bundled risk-reward calculators.The company tied the additions to trailing stop loss and chart trading already on the platform, and described the package as part of its Traders First approach to product design.Platform Tool Race Sharpens After MetaQuotes CurbsThe update arrives while the platforms competing with MetaTrader keep adding features to set themselves apart. Much of that pressure traces to 2024, when MetaQuotes restricted MetaTrader use by prop firms serving US clients, pushing the industry to spread onto cTrader, Match-Trader, DXtrade and TradeLocker.Rivals have been busy. Match-Trade Technologies rolled out a February 2026 update to its Match-Trader Prop product that added full MetaTrader 5 backend integration along with challenge management and verification tools. Devexperts in January paired its DXtrade platform with Arizet Labs' PropTech suite, bundling CRM, risk management and payout automation with the trading screen, as FinanceMagnates.com reported.On the specific mechanics, cTrader is catching up to an existing norm as much as breaking ground. MetaTrader 5, still the most widely deployed platform across FX and CFD brokers, has long let traders close part of a position natively, and order-management depth is now a standard line item when brokers and prop firms weigh which platforms to run. Folding multi-level take-profit and automatic break-even stops directly into the native interface, rather than leaving them to plugins, is where cTrader is positioning the change.A Steady Cadence of ReleasesThe take-profit tool fits a pattern of frequent cTrader updates. In January, Spotware shipped cTrader Mobile 5.6, adding equity charts and candle countdowns, and it used last year's version 5.5 to introduce native Python support for algorithmic trading.More recently, the company opened cTrader to AI agents through the Model Context Protocol, letting tools such as Claude connect to accounts via an official server. Order-management features like the new take-profit levels sit at the more conventional end of that roadmap, aimed at manual traders rather than automation. This article was written by Damian Chmiel at www.financemagnates.com.

Futu Holdings reported higher revenue and trading activity in the first quarter of 2026, but net profit dropped sharply after a regulatory penalty impacted earnings. The online broker posted total revenue of HK$5.86 billion, up 24% year-over-year, while net income fell 61% to HK$831 million.Revenue Growth, Profit DeclineThe increase in revenue came from stronger trading activity and higher interest income. Brokerage commission income rose 14% to HK$2.64 billion, while interest income climbed 28% to HK$2.65 billion. Other income surged nearly 80% to HK$564.3 million, driven by currency exchange, IPO financing, and fund distribution services.Gross profit reached HK$5.11 billion, up 29%, with margins improving to 87%. Operating income also increased 31% to HK$3.53 billion.However, net income declined significantly from HK$2.14 billion a year earlier. The drop followed a penalty of about RMB1.85 billion, equivalent to $271 million, issued by the China Securities Regulatory Commission, which the company recorded in its financial statements.CFO Arthur Yu Chen said the penalty does not affect the business fundamentals or financial stability.“On May 22, 2026, the Company received an Administrative Penalty Pre-Notification Letter from the China Securities Regulatory Commission Shenzhen Bureau in an aggregate amount of approximately RMB1.85 billion, which has been fully reflected in our first quarter financial statements as an adjusted subsequent event under U.S. GAAP. This amount does not impact our business fundamentals or financial stability. We remain focused on long-term growth across international markets.” The regulator alleges that certain Futu-related entities in mainland China and Hong Kong carried out securities trading, public fund sales, and futures business in mainland China without obtaining the necessary approvals. Client Growth and Trading ActivityMeanwhile, Futu continued to expand its user base and assets during the quarter. Funded accounts increased 34% to 3.59 million, while total users reached 30.2 million. Client assets rose 47% to HK$1.22 trillion.Trading volume climbed 29% to HK$4.15 trillion. Activity in Hong Kong equities increased, offsetting softer trading in US stocks. Margin financing and securities lending balances rose 44% year-over-year to HK$72.9 billion.CEO Leaf Hua Li said the company added 225,000 funded accounts during the quarter and remains on track to meet its full-year target. The company also expanded its product offerings and received regulatory approval in Hong Kong to operate its virtual asset exchange, PantherTrade.Futu posted strong full-year results for 2025, with net income more than doubling to HK$11.3 billion (US$1.45 billion). Revenue climbed 68% year-over-year to HK$22.8 billion (US$2.94 billion) as clients piled into U.S. technology stocks and the Hong Kong-based online broker expanded across Asia. This lifted its gross profit margin to 87% from 82% and strengthened its ambition to add 800,000 new funded accounts in 2026. This article was written by Jared Kirui at www.financemagnates.com.

Gold-i has integrated decentralized derivatives platform Derive.xyz into its platform, giving institutional clients direct access to onchain options liquidity. The move expands the firm’s decentralized finance offering and follows its recent integration with crypto exchange Hyperliquid.Access to Onchain Options via MatrixNETAccording to the information shared with Finance Magnates, the integration on MatrixNET allows brokers, prop trading firms, and fund managers to trade Derive’s onchain options through existing platforms such as MT4, MT5, DXtrade, and CLEO. Users can access this liquidity without changing their current trading setup.Tom Higgins, the CEO of Gold-i, said: “Derive is a market leader in the rapidly growing niche area of onchain options, currently doing about 90% of onchain options volume. Integrating Derive into MatrixNET aligns perfectly with our strategy of connecting clients to the best liquidity venues across both TradFi and DeFi.”“Having had a fantastic response from clients since announcing our Hyperliquid integration, we believe this latest integration will further enhance our offering, enabling clients to access new opportunities through a seamless, institutional-grade environment.”Related: Gold-i Adds Scope Prime's Crypto CFD Liquidity to MatrixNETGold-i said the integration aligns with its strategy to connect clients to a wide range of liquidity venues across both traditional and decentralized markets. The company expects the addition of Derive.xyz to expand trading opportunities for its existing client base while also opening access to new users from the DeFi sector.Expansion of DeFi ConnectivityIn March, Gold-i said it had integrated Hyperliquid into its MatrixNET liquidity management platform, marking the first time the system has connected to a decentralized exchange. Through a standard connection, brokers, proprietary trading firms, and fund managers can route order flow to Hyperliquid’s on-chain derivatives venue and stream that liquidity directly into MetaTrader 5 and other trading platforms, the UK-based firm said. The move comes as decentralized exchanges expand into institutional territory, with monthly perpetual futures volumes exceeding $1.2 trillion by late 2025. Gold-i said it handles the translation layer between traditional brokerage infrastructure and on-chain execution, allowing clients to access pricing and liquidity from Hyperliquid while continuing to use MatrixNET’s aggregation, smart routing, and risk management tools.Additionally, Gold-i expanded its crypto liquidity offering by integrating the Crypto.com Exchange into MatrixNET. This allows institutional clients to access the venue through a single FIX API connection. The addition enables brokers, prop firms, and fund managers to tap into Crypto.com’s liquidity pool alongside existing providers. This article was written by Jared Kirui at www.financemagnates.com.

With interest building incrementally, from 880 searches in early 2020 to 49,500 monthly searches in Q2 2025, prop trading has gained significant momentum in recent years, thanks to its engaging, challenge-based approach and the promise of getting funded. Hola Prime, an ambitious prop firm with a reputation for transparency and fast payouts, not only acts on this promise but also conceives prop trading as an ecosystem where “traders feel valued, supported and part of something bigger,” according to CEO Somesh Kapuria. We had the opportunity to sit down with him and discuss Hola Prime’s achievements, competitive advantages, and its latest bold initiative - the Prime Circle.Q: Thank you for joining us today. Hola Prime started 2026 in full force with an award win right at the start of the year - ‘Fastest Payout Prop Firm MEA’ at the UF AWARDS Dubai. What do you think contributed to this success?SK: Always a pleasure. Indeed, Hola Prime distinguished itself in Dubai, and the ‘Fastest Payout Prop Firm MEA’ award speaks to our commitment to traders. Fast and transparent payouts are still a problem across the industry. Misleading advertising is everywhere, and prop trading is no exception. Hola Prime set out to change that. Not to use a cliché, but I have to stress that Hola Prime is different. We provide daily performance and payout transparency reports so traders know at any given point how much profit they’ve made, where they stand and what they need to improve from a trading perspective. No other prop trading firm does that, or at least not as transparently as Hola Prime does.Q: What is Hola Prime’s competitive advantage?SK: I believe our strongest point is the ability to meet traders halfway. By this, I mean giving them the sense of security and fund safety from the moment they sign up. Unlike other prop firms, which tend to deny traders access to their well-earned and deserved profits, Hola Prime has taken a strong position against it. Our 10-point payout system calculates profit in real time and implements pre-trade compliance so nothing is missed. Traders know exactly how much they make with each trade and in real time.Q: According to the website, payouts with Hola Prime can take up to 1 hour. Is that true?SK: Yes, it’s true. The average profit split payout is 33 minutes and 48 seconds, to be exact. The fastest record was 34 seconds. That’s because we never run post-request account audits and challenge rule adherence. The 10-point payout algorithm does that automatically.Q: That’s a feat that most of your competitors have yet to match. On 23 May, you launched the Prime Circle? What is it, and why should traders see it as an exclusive perk?SK: It’s our boldest initiative so far, and we had over 5000 traders from all over the world join the conversation on YouTube. First of all, let me tell you the Prime Circle is an exclusive club for prop traders. It’s invite-only. We built it around consistency, trust, and verified payouts. What makes it exclusive is that it places traders first, provided they demonstrate discipline. There’s no tier system, no loyalty points, and no application process or paid membership. A trader becomes eligible for the Prime Circle after receiving five verified payouts. The exclusivity stems precisely from this qualification threshold. Because it’s not like other application-based programmes and isn’t open to public registration either, entry is earned by achieving five valid payouts. Q: What inspired this launch, and why did you opt for an online event?SK: The prop trading industry has been the villain long enough. We’ve seen a lot of headlines about prop firms using elusive practices to avoid or deny traders their well-earned profit payouts. Hola Prime positions itself on the opposite side of the barricade. We believe the future of prop trading is not just about funding traders but about building an ecosystem where elite traders feel valued, supported and part of something bigger. The Prime Club is a reflection of that vision. A platform like YouTube, with millions of viewers worldwide, was the best means to communicate because it’s accessible. Traders from all around the world joined us without the cost of travelling to a specific location. Not to mention the time and logistics behind organising such an event in person.Q: Indeed, time is money. What were the main highlights of the event?SK: The Hola Prime event was structured on three pillars: Introduction of Hola Prime’s 5th payout philosophy, which is built around the idea that the first payout is a promise, while the fifth payout is already a pattern. It’s the ultimate proof of trust and legitimacy, I would say.Hola Prime showcase: payout statistics and illustrating how we make a stark difference in an industry that’s slowly maturing.Q&A conversations, where we had the chance to interact with funded traders and community members and explain the core aspects of the programme, which is essentially designed to answer one big question that keeps popping up in every trader’s mind: “Will my prop firm continue to pay me?” At Hola Prime, the answer is and will always be “Yes.” No other prop firm has created a comprehensive programme around five payouts, which makes our Prime Circle unique in the industry.Q: How does it work?SK: The Prime Circle is open to all Hola Prime traders provided they faithfully follow the challenge rules, and once they pass the challenge and get funded, they practise risk management and discipline. The only rule that applies is achieving five payouts. Q: What are some of the main advantages that Prime Circle membership confers?SK: The benefits are very generous, including a simulated capital threshold increase from $500,000 to $2,000,000, Hola Prime Black Card, plus an extra 20% discount on all Hola Prime challenges on top of any running promos.Moreover, Prime Circle traders can also request free account resets; they canfreely switch between platforms at the funded stage, and as our most valued partners, they get featured on the Hola Prime Wall of Fame.Q: In the conclusion of our interview, I’m certain our readers would like to know—is the Prime Circle an ongoing promotion?SK: Definitely, and I prefer to call it a trustworthiness test for Hola Prime as a prop firm. That’s very important and cannot be conveyed in a one-off campaign. I would also like to invite anyone interested in exploring these benefits to join Hola Prime and work their way up through the challenges. They deserve a different experience. Why settle for average? This article was written by FM Contributors at www.financemagnates.com.

Finance Magnates has learned that PipFarm, a Singapore-based retail prop trading firm, has launched a new pricing model that appears to be a departure from the standard industry playbook. The model, dubbed “Pay with Profits,” will allow someone to pay a small upfront fee, as low as US$79, to access a simulated account. The remainder of the cost is only settled if and when the trader achieves a payout, at which point the balance is deducted from their profits. Profit Now, Pay LaterIn the typical prop trading setup, the firm’s risk ends the moment a trader’s credit card (or payment method of choice) clears. By subsidizing entry, PipFarm is effectively extending credit to its users, betting they are good for the money in an industry where roughly 90% of traders eventually fail. If a trader never turns a profit, PipFarm is left to shoulder the costs alone.So, how is the firm planning to offset that risk? “When the trader gets a payout, we charge between 5-15x more, depending on the risk,” James Glyde, Founder and CEO of PipFarm, explained to Finance Magnates. "Essentially, they pay 5x less up front but 5x more later."The strategy also brings to mind the "Buy Now, Pay Later" (BNPL) model used by fintech giants like Klarna or Affirm. Instead of installments, PipFarm simply defers the bill until payday. "The simulated trading model changed how traders manage personal risk – a trader knows their maximum loss from the start, while the potential reward can far outweigh it," said Glyde. "We took that a step further. Pay With Profits lets a trader take on a larger challenge without committing hundreds of dollars upfront. The bulk of the fee comes out of their earnings, and only if they earn it." The firm expects the model to find favour in low-income regions, such as Africa, South-East Asia, and Latin America. However, would an entry fee as low as US$79 attract the YOLO crowd? Whether this leads to a pipeline of untapped talent or a flood of low-quality traffic that strains the firm’s resources remains to be seen. This article was written by Adonis Adoni at www.financemagnates.com.

“Our role as a financial regulator is to safeguard the market; we are not here to provide jobs. This may sound blunt, but the reality is that even if entities employ large sales teams, that cannot justify non-compliance with the regulatory framework,” says George Theocharides, CySEC’s Chairman. In Nicosia, where the Mediterranean sun is often sharp enough to act as a disinfectant, there seems to be little in the way of regulatory shade. And on this particular morning, as light pours through the windows of CySEC’s headquarters, the Chairman is in a reflective, if uncompromising, mood.The Friction Between Protection and Growth In the past decade, Cyprus and particularly Limassol, has felt like the frontier. By the end of 2013, CySEC supervised 152 Cyprus Investment Firms (CIFs), the legal category for the island’s retail brokers. The market continued to grow, with retail brokers employing between 7,000 and 8,000 people as of 2024. Glassdoor estimates the median total pay at €30,000. In an economy where roughly 40% of people gross less than €1,500 a month, according to 2025 figures from the Statistical Service of Cyprus, the sector is not merely a line item in the GDP; it has emerged as a vital organ of the local economy.But as ESMA tightened its grip from Paris towards the end of the noughties, the growth of the local market ground to a standstill: between 2020 and 2025, the number of CIFs went from 242 to 252. The frontier, it seems, has been thoroughly fenced in.“We're following the EU rules,” Theocharides goes on. “Whatever CySEC is doing in terms of the CFD market is not a standalone initiative. We're part of a union and, as such, we have a responsibility to apply and enforce the EU rules and directives.” The friction remains: maintaining a competitive retail brokerage sector and the benefits to the local economy, while satisfying the regulatory demands at the EU level to protect retail investors. It is a high-wire act, especially when retail speculation is viewed with extreme suspicion. And the latest item that reveals this friction is crypto perps.“We Had a Different Legal Opinion for the Classification of Crypto Perps" In early 2026, ESMA released a statement indicating that crypto perpetuals, which are derivative instruments with no expiry date that track the price of cryptocurrencies, would likely fall under the product intervention measures established in 2018. Their commercial name is irrelevant, ESMA said. Essentially, Paris has decided that if an instrument quacks like a CFD, it must be treated like a CFD. This is an area CySEC had extensively assessed over the previous year, and for a moment, Nicosia was veering off the beaten path. “We had a different legal opinion for the classification of these contracts, and we raised our views,” Theocharides explains.CySEC’s analysts felt there were substantive differences between CFDs and crypto perps, technical nuances significant enough that they should have been classified as an entirely different species of derivative. “We felt that if the risks to investors remain, then these products should have been examined independently”, he adds. Alas, in the EU, differences in legal opinions are as common as dirt, and usually just as immovable. Most regulators in the bloc saw only a CFD in a digital hoodie.“Now that the statement has been published, we are assessing it and will soon provide guidance to the market on how this particular position should be interpreted,” Theocharides highlights. While hinting that there might be some wiggle room, he is reluctant to disclose the nature of that space. The message, though, is clear: the ESMA statement will be honoured. “We are a union of 27 member states; we have to converge in our practices.”For the industry, the writing was on the wall. Providers had already clipped leverage on crypto perps for European clients to 10x, orders of magnitude lower than their offshore counterparts. The most likely scenario now is that leverage will be throttled down to 2x. Marketing will be restricted, and negative balance protection will become mandatory, among other things. This also points to the direction of survival. As speculation in any form is increasingly hindered, the pivot toward spot markets, equities, tokenised or otherwise, and hard assets becomes a one-way street.The Transatlantic SchismWhile Europe prepares to wrap crypto perps in Paris-mandated bubble wrap, across the Atlantic, the mood is markedly different. Michael Selig, the Chairman of the US Commodity Futures Trading Commission (CFTC), recently announced plans to create a dedicated framework for crypto perps. The goal is simple: to bring back the liquidity that fled to offshore markets. “That was not the case with the CFTC or the SEC a year ago,” Theocharides comments, pointing at the inherent volatility of the American decision-making process. If Europe can be characterised as a steady, if slow, steamship, then the US nowadays seems like a speedboat prone to sudden, violent turns of the rudder.Theocharides appears unconcerned by the prospect of an exodus of providers. He argues that these companies aren't in Europe just to sell speculative instruments. “They provide cryptos in the spot markets, and they are expanding into other products, like tokenised equities,” he explains. “Crypto perps are just one, speculative, high-risk product. They have other products that they want to offer to European investors, and we applaud that; is what we want. We want European retail investors to have the ability to trade a range of ETFs, stocks, bonds and not only speculative products.“Predictions Markets Would Most Likely Fall Within the Binary Options Category”If there is one item that has captivated the retail cohort in 2026, it would be prediction markets. These peer-to-peer exchanges, where users buy and sell contracts on anything from the Champions League final between Arsenal and PSG to the outcome of political conflicts, are exploding in the US. Research by blockchain intelligence company TRM Labs shows that, even though they represent a fraction of the global equity and derivatives market, their growth is staggering: between 2024 and 2026, prediction market volumes have grown roughly 4-5x, a far steeper year-on-year curve than most equities or ETF sectors. To their proponents, they represent the "wisdom of crowds." To Theocharides, they look like a familiar ghost.“To be honest, there wasn’t any discussion at the EU level about prediction markets, at least not at the board level. My view is that these prediction markets or event markets would most likely fall within the binary options category.”In the EU, binary options are persona non grata, banned for years. If prediction markets are indeed just binary options in a sleeker suit, their arrival in Europe will likely be met with a closed door and a reinforced lock.Much like crypto perps, their wings might be clipped before they have had a chance to fly.ESMA Self-Reflects, But Not For DerivativesAround the same time ESMA took aim at crypto perps, it released the recommendations for its 2025 Call for Evidence on how to make it easier for retail investors to participate in capital markets. It was a rare admission that a decade of red tape may have actually discouraged engagement.The diagnosis included cost structures and labyrinthine disclosure procedures. Yet, this self-reflection appears to stop at the doorstep of derivatives. The prevailing sensitivity toward protecting the retail cohort (whether this is paternalistic or merely prudent depends on the spectator) rests on the idea that these products are so complex that they dupe traders.But in an age of total information saturation, does that still hold water? “I think we need more financial literacy,” Theocharides opines. “When it comes to speculative products, especially where the underlying asset is crypto, you need to be careful; you need to understand the risk that you might lose all your investment. There are additionally other risks, like cyberattacks, that you need to take into account.”Yet, in the psychological reality of the Greater Fool, the ego-driven dreamer believes they are part of the lucky 10% who will emerge victorious from a zero-sum game. They are quintessentially quixotic. But ignoring a risk is not the same as being unaware of it. Theocharides still argues that literacy is the only cure: “If you want to do it, that's fine, but you will have to demonstrate that you understand the risks.”Have EU Rules Pushed Traders to Offshore? The emergence of Gen Z as a market force has complicated this approach. Biologically predisposed to risk – the prefrontal cortex, which modulates impulse, doesn’t fully develop until the mid-twenties – this cohort naturally gravitates toward high leverage and crypto.ESMA’s solution is to offer more straightforward products like ETFs. It feels like placing a garden salad next to a bucket of extra-crispy fried chicken on a buffet. The salad is objectively better for you, but it doesn't provide the dopamine hit the diner came for.“As an investor, having a diversified portfolio makes sense, right? Having asset classes that are not perfectly correlated,” Theocharides says. “And for that to happen, you have to give them choices, but, equally important, to improve their level of understanding of the capital markets.” Still, this might ignore another reason young people gravitate towards riskier instruments: as median income has detached from wealth generation, waiting patiently for the compounding effects of an ETF no longer seems appetising. The data also suggest a darker outcome. According to an FM Intelligence Report for Q2 2025, the global retail FX/CFD industry recorded average monthly volumes exceeding US$30 trillion, but most of the action was happening outside the EU or even the UK. The bulk is coming from Asian markets and other jurisdictions where the regulatory touch is light and offshore entities find a hospitable refuge.EU rules have, in part, shifted demand toward offshore jurisdictions where safeguards are nonexistent.So, would it be fair to say that the EU’s intentions to protect investors have had a counterintuitive effect by making them less safe in practice?Theocharides nods in contemplation, hands wrapped around his chest. “I understand your point, but the expectation of the intervention measures is to limit the ability of European investors to take excessive risks by controlling the leverage they are exposed to, getting more transparency in terms of risks and so on,” he replies.He points out that third-party entities are strictly forbidden from soliciting European clients. Of course, in the age of Discord and Telegram, solicitation is a fluid concept. “I’m not saying it’s perfect. There are difficulties,” he says. “But the message is clear: be careful, because if we find out that you are attempting to do this, we will take drastic measures that will not be in your interest.”CySEC Will Not Ban Ads The CFD sector has an undeniable image problem, a legacy of the aggressive churn-and-burn marketing of a decade ago. For Theocharides, it is this legacy that has led some jurisdictions, such as Spain, to impose outright bans on CFD advertising a few years ago. Nonetheless, he is adamant that CySEC will not follow Spain’s lead. “That’s not something on CySEC’s agenda,” he says categorically. However, he remains unmoved by the economic argument for leniency. His earlier blunt reminder that CySEC is not a job-creation agency is a signal to the brokers in Limassol: compliance is the only currency that matters in Nicosia. This article was written by Adonis Adoni at www.financemagnates.com.

The Australian division of IG Group now allows traders to connect their trading platform directly to ChatGPT by bringing its CFD Assistant to the ChatGPT App Store. The connection allows traders to ask the AI assistant about their open positions, P&Ls, watchlists, real-time market sentiment, and other account-related data and analysis.Another Broker Brings an MCP ServerAlthough IG Australia launched it as a Model Context Protocol (MCP) server, it is currently limited to ChatGPT connections only. The website, however, shows that the broker will “soon” allow connections with Claude.“The Assistant pulls from your actual account data and answers in seconds,” IG Australia wrote in a social media post.Read more: Revolut Built a Trading Desk With AI in 30 Minutes. Will Prompts Replace Broker Platforms?However, IG is keeping the MCP app strictly in “read-only” mode, meaning traders cannot use it to place new orders or modify or close existing ones.“Once connected, your AI can access live bid/ask prices for any instrument, your open positions and working orders, market details and margin requirements, client sentiment data (% long vs short), historical price data (OHLC candlesticks), your account activity log, financial transaction history, your saved watchlists, and calculated portfolio metrics. It cannot access payment details, personal identity documents, or any information outside your trading account,” IG elaborated.Australia-Only Access?However, the MCP server appears to be limited to Australian clients at this time.The Australia-specific IG website shows details of the new MCP server-based AI Assistant, but the feature is missing from other non-Australia-specific websites. The “IG Trading: CFD Assistant”, meanwhile, is available on ChatGPT stores outside Australia.IG is not the first to join the AI assistant trend by launching an MCP server. eTor earlier became one of the first brokers to open native access to something it called “Agent Portfolios”, which even allows agentic trade execution. IG’s “read-only” approach, on the other hand, appears cautious.Recently, Spotware, the developer of the cTrader trading platform, also launched an MCP server, cementing the ongoing trend in the trading industry. This article was written by Arnab Shome at www.financemagnates.com.

CryptoProcessing by Coinspaid, a stablecoin payment provider with over 11 years of industry experience, has announced its participation in IFX EXPO International 2026. The company will present its full suite of crypto payment solutions designed to help businesses across Forex,iGaming, travel, fintech, and e-commerce accept digital assets and seamlessly convert them to fiat. Bridging the Gap Between Crypto Users and BusinessesAs cryptocurrency adoption continues to accelerate globally, businesses face a growing challenge: millions of consumers already hold digital assets and actively seek merchants willing to accept them. CryptoProcessing by Coinspaid was built precisely to solve this gap. “We started with a simple idea,” Max Krupyshev, Executive Leader at CryptoProcessing, notes. “Millions of people around the world already hold crypto, and they’re looking for places to spend it. We’re here to help businesses grow by welcoming these new customers, and to make the entire process simple and honest, for both sides of the transaction.” Serving over 1,000 clients across multiple sectors, CryptoProcessing has established itself as a trusted provider for businesses looking to tap into the crypto economy without the technical complexity or compliance overhead traditionally associated with digital asset payments. What CryptoProcessing by Coinspaid offers The platform supports over 20 cryptocurrencies, giving merchants unmatched flexibility in how they accept and settle payments. Key features include: ● 99% acceptance rate: ensuring minimal failed transactions and maximum revenue capture ● Instant crypto-to-fiat conversion: funds can be withdrawn directly to a bank account with no delays ● Transparent pricing: a clear pricing table with no hidden fees, no monthly charges, and free integration ● Fraud protection: multi-layered security including blockchain risk scoring, independent cybersecurity audits ● Reduced processing costs: merchants benefit from significantly lower fees compared to traditional payment rails ● Expanded customer reach: access to a global, crypto-holding customer base that traditional processors cannot serve The service is built to accommodate any business model and payment structure, whether a high-volume Forex platform processing thousands of daily transactions or a travel platform looking to attract a new generation of digital-native customers. Security and compliance at the core In an industry where trust is everything, CryptoProcessing by Coinspaid places regulatory compliance and security at the heart of its operations. The company holds an Estonian virtual asset service provider (VASP) license and undergoes regular independent financial and cybersecurity audits. Blockchain risk scoring technology is integrated directly into the payment flow, providing real-time transaction monitoring and helping merchants meet their AML obligations without additional complexity. This commitment to compliance is particularly valuable for regulated industries such as Forex patforms and financial services, where operators must demonstrate rigorous standards to maintain their own licenses. A Trusted Ecosystem for the future of payments CryptoProcessing by Coinspaid’s broader mission goes beyond processing payments. The company is actively building a trusted crypto ecosystem, one designed to make payments simpler, safer, and more inclusive for businesses and their end-users worldwide. For merchants, this translates into a tangible competitive advantage: the ability to help an underserved customer segment, reduce operational costs, and position their business at the frontier of the payments landscape. For consumers, it means a checkout experience that is as straightforward as any traditional payment method. “CryptoProcessing by Coinspaid aims for excellence in everything we do and is committed to getting better every day,” Max Krupyshev said. With over a decade of continuous development and more than a thousand live merchant integrations, that commitment is reflected in the product’s proven reliability and performance. Meet CryptoProcessing at IFX EXPO International 2025 IFX EXPO International is one of the most important gatherings in the global financial and fintech industry, bringing together brokers, technology providers, payment processors, and industry leaders. CryptoProcessing by Coinspaid’s participation reflects its continued investment in the financial services sector and its commitment to providing cutting-edge payment infrastructure for regulated businesses. Attendees will have the opportunity to meet the CryptoProcessing team, receive live demonstrations of the payment product, and discuss tailored integration options for their specific business needs. To schedule a meeting at IFX EXPO or to learn more about CryptoProcessing by Coinspaid, visit this website. About CryptoProcessing by Coinspaid CryptoProcessing by Coinspaid is a stablecoin payment provider helping businesses accept digital assets and convert them to fiat. With over 11 years of industry experience and more than 1,000 clients across Forex, iGaming, travel, e-commerce, and financial services, CryptoProcessing connects businesses to crypto users and makes transactions as simple as pressing a button. The platform supports 20+ cryptocurrencies, 40+ fiat currencies, and offers transparent pricing with no hidden fees and free integration. This article was written by FM Contributors at www.financemagnates.com.

BMLL has added Five Rings, a New York proprietary trading firm, to the advisory board it uses to shape its product roadmap, the market data company said today (Thursday). The move puts a second prop firm on a panel that already counts some of the biggest names in institutional finance.Five Rings joins the Client Product Advisory Board alongside Berenberg, Kepler Cheuvreux, Norges Bank Investment Management, Optiver, Rothschild & Co Redburn, State Street Global Advisors and Stifel. BMLL said the firm trades across asset classes and leans on detailed historical data to test ideas and refine its quantitative research."BMLL's high-quality data and research environment have become instrumental," Parker Lim, head of special projects at Five Rings, added in a statement.A Client Board That Doubles as a Sales ToolBMLL launched the advisory board in February 2025 and uses it to gather feedback on data standards, delivery formats and coverage gaps. The company has turned that input into product, releasing its Trades Plus execution analytics dataset last September as the first tool built directly from board members' requests.One member, Optiver, sits on both sides of the table. The Amsterdam market maker is a minority shareholder in BMLL and led a $21 million investment in the company in October 2024, which means a part-owner now shares an advisory forum with a competing prop firm.Paul Humphrey, BMLL's chief executive, said the company was "delighted to welcome a highly sophisticated firm like Five Rings to the community." BMLL did not disclose commercial terms or say whether Five Rings is a paying client.Crowded Market for Granular Historical DataBMLL, which describes itself as an independent provider of harmonized Level 3, 2 and 1 historical order book data, competes in a segment that has drawn both startups and exchange groups. Its pitch is that clients can rent curated, normalized data rather than buy and clean it themselves.Rivals are pushing on the same workflows. Databento sells nanosecond-precision data through cloud-delivered APIs and added a Databricks integration in 2024, while Kaiko has built similar distribution for digital asset order book records. Exchange operators including Nasdaq and CME Group have moved more of their historical content into cloud marketplaces, in some cases bundled with their own analytics.BMLL has answered by stacking distribution deals and partner content on top of its core dataset. In April it plugged its data into Databricks, and it has layered third-party options analytics onto its own records to widen coverage without building everything in house.Nordic Capital Pushes a Commercial BuildoutThe advisory board addition lands during a busy stretch for the company, which Nordic Capital acquired in October 2025 in a deal struck alongside Optiver. Since then the London-based firm has stepped up hiring and product work.In April it disclosed nine new hires across partnerships, sales, revenue operations, finance and engineering, and days later added SpiderRock's US options data to its research environment. In March it opened a year-long pilot with Tradefeedr to extend transaction cost analysis from foreign exchange into equities and futures.Options data has been a particular focus. BMLL first launched six years of nanosecond OPRA records in November 2024, and the company now says it offers more than seven years, sitting alongside its US equity and futures datasets. This article was written by Damian Chmiel at www.financemagnates.com.