The Polish Financial Supervision Authority (KNF) has fined Warsaw-based brokerage XTB SA PLN 20 million (approximately $5.5 million) for violating MiFID II rules and investor protection regulations. The decision, issued on March 30, 2026, follows findings that XTB failed to properly assess client knowledge, define target groups, and disclose trading risks related to Contracts for Difference (CFDs).Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)Misleading Information and Conflict of InterestAccording to the KNF, between January 2022 and September 2023, XTB used client questionnaires that did not accurately evaluate experience with complex financial products. The firm also treated experience in simple instruments as sufficient for trading high-risk CFDs, which could expose inexperienced clients to heavy losses.The regulator also found that the broker provided incomplete or misleading information about CFD risks, preventing clients from making informed investment decisions.In a Monday notice, translated to English, the regulator accused XTB of “failure to identify the target group in an appropriate and proportionate manner, taking into account the nature of the financial instrument and its complexity. The company determined the adequacy of risky and complex instruments, such as CFDs, based on clients' knowledge and experience in the field of simple instruments.”Keep reading: XTB Profit Drops 24% as Gold Rally Fails to Offset Soaring Marketing SpendAdditionally, its use of a “HOT list” of promoted instruments may have created a conflict of interest, as those instruments often carried wider spreads and generated higher income for the firm.The KNF said the case shows the importance of strict compliance in marketing and selling complex financial instruments. It added that up to 80% of retail clients trading CFDs lose money, underscoring the need for accurate risk assessment and clear disclosures.Risk Warnings and Strict Suitability ChecksAlthough Poland allows CFD trading, it subjects it to some of the most restrictive retail rules in Europe, reflecting EU‑level concerns about heavy losses on leveraged products. Under the KNF’s 2019 product‑intervention decision, which mirrors ESMA’s framework, retail traders face tight leverage caps, mandatory margin close‑out levels and negative balance protection, alongside a ban on monetary and non‑monetary incentives tied to CFD trading. Firms must also display prominent, standardized risk warnings that spell out the share of retail clients who lose money on CFDs, making loss rates a visible part of the sales pitch rather than fine print.On top of those product constraints, KNF layers MiFID II conduct‑of‑business rules that treat CFDs as high‑risk instruments requiring close scrutiny of who they are sold to and how. Brokers have to carry out appropriateness and suitability checks, define and respect target markets for complex products and ensure that marketing and risk disclosures are clear, fair and not misleading, especially around leverage and the probability of rapid losses. This article was written by Jared Kirui at www.financemagnates.com.

After Bithumb Incident South Korea’s central bank is pushing to extend stock market-style risk controls to the country’s cryptocurrency exchanges, marking a shift from operational fixes toward changes in market structure.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!). From Incident to Market Structure The Financial Services Commission has already imposed operational controls following the February Bithumb incident, which exposed weaknesses in exchange processes. The Bank of Korea is now going further, proposing tools typically used in equity markets to manage trading itself. In a new report, the central bank recommended introducing circuit breakers — mechanisms that automatically halt trading during sharp price moves — to manage abnormal volatility. Applying Stock Market Controls to Crypto The proposals map closely onto the rulebook of a traditional exchange. They include market-wide circuit breakers, tighter reconciliation requirements already introduced by the FSC, and monthly asset verification by independent accounting firms. The measures are expected to be incorporated into South Korea’s forthcoming Digital Asset Basic Act. The Bank of Korea’s review pointed to broader weaknesses across the industry, including gaps in transaction approval processes and delayed reconciliation cycles that can allow inconsistencies to build up on exchange books. Implications for Exchanges — and Beyond The importance of the move extends beyond the domestic market. South Korea remains one of the largest retail crypto trading hubs globally, with won-denominated trading volumes exceeding $600 billion in 2025 and local exchanges such as Upbit consistently ranking among the top venues by spot volume. Changes to market structure in Korea therefore affect a significant share of global retail activity. For exchanges and the broader B2B brokerage industry, the shift raises the operational bar. Real-time reconciliation, auditable systems and circuit breaker infrastructure increase compliance costs and create higher entry thresholds for new platforms. Firms already operating under similar requirements in traditional markets enter with an advantage. Whether other jurisdictions follow South Korea’s lead at the same pace is an open question. The broader direction, however, is becoming clearer: regulators are increasingly moving away from separate rulebooks for crypto and traditional markets. This article was written by Tanya Chepkova at www.financemagnates.com.

Kenya’s government proposed strict new rules for companies offering digital asset services, demanding that some hold as much as Sh500 million ($3.8 million) in capital. The measures are part of draft regulations under the Virtual Asset Service Providers (VASP) Act, 2025, which aims to bring oversight to the fast‑growing crypto market.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)Stablecoin Issuers Face Steep Capital NeedsAccording to the National Treasury’s draft, stablecoin issuers will face the highest requirement at Sh500 million ($3.8 million), while investment advisors will need at least Sh2.5 million ($19,300). The rules also exclude capital raised through loans or internal revaluations, requiring firms to use fully paid‑up funds only.The regulations emphasize that companies must maintain sufficient capital “commensurate with the scale, risk and complexity” of their operations. Regulators may also direct firms to raise capital further if their risk exposure increases.Firms will also pay license fees between Sh100,000 ($772) and Sh2 million ($15,400), depending on the service type. Crypto exchanges and payment processors issuing stablecoins will pay the most.Keep reading: Kenya’s CMA Widens Regulatory Net With Robo-Advisory PermitsApplicants must submit detailed business plans showing their activities, technology, data protection, and anti‑money laundering measures, as well as three‑ to five‑year financial projections.The draft follows the enactment of the VASP Act in November 2025 and involves collaboration among the National Treasury, Central Bank of Kenya, and Capital Markets Authority, signaling the country’s firm stance on cryptocurrency oversight.Kenya’s Crypto Firms' Regulations Kenya’s proposed capital and licensing rules sit on top of the Virtual Asset Service Providers (VASP) Act, 2025, the country’s first comprehensive crypto law that pulls exchanges, wallet providers and stablecoin issuers into a formal regime overseen jointly by the Central Bank of Kenya and the Capital Markets Authority. Enacted in November 2025, the Act requires VASPs to be locally incorporated or registered, pass “fit and proper” tests and implement full AML/CFT controls aligned with FATF standards, including strict KYC, transaction monitoring and suspicious‑activity reporting to the Financial Reporting Centre, with criminal penalties and hefty fines for those operating without a license or breaching the rules.Meanwhile, Kenya’s markets watchdog recently moved to license robo-advisors and intermediary trading apps, widening its net over online investing as global FX brokers like Capital.com and XM shift into its onshore regime. This article was written by Jared Kirui at www.financemagnates.com.

XTX Markets Chief Technology Officer Joshua Leahy has left the firm, the company confirmed in an email to Finance Magnates. The departure ends more than a decade at the quantitative trading firm.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).He has also stepped down as a director of XTX Markets Limited. A Companies House filing shows his directorship ended on 30 March 2026, with the filing recorded today (Monday).Founded in 2015, XTX Markets has grown into one of the world’s largest algorithmic trading firms. It handles about $250 billion in daily trading volume across 35 countries. The company employs more than 250 people globally. It has expanded beyond its original focus on foreign exchange into equities, fixed income, commodities, and cryptocurrencies.XTX Confirms Leahy CTO ExitThe company confirmed that Leahy has exited his CTO role. The filing and confirmation together indicate his full departure from the firm. Alex Gerko, CEO of XTX Markets, commented on the exit, saying: “Leahy has informed us of his decision to leave the firm. We are grateful to Josh for his outstanding contribution to XTX since its inception.”Leahy previously served as a senior technology executive at XTX Markets. He worked on building and scaling its machine-learning-driven trading infrastructure and engineering systems.XTX Earnings Rise on Volatility GainsXTX Markets reported higher earnings for 2024, supported by increased market volatility and continued expansion of its trading operations. The company’s three main UK entities generated combined revenue of £2.74 billion in 2024, up from £2 billion in 2023. Net profit rose to £1.28 billion, compared with £835 million in the previous year, according to company filings.XTX Technologies accounted for the largest share of revenue at £2.04 billion. XTX Markets Trading Limited reported £636 million, while XTX Markets Limited contributed £61 million.The company also reported higher staff compensation at its main UK entity, with average pay rising compared with the previous year. This article was written by Tareq Sikder at www.financemagnates.com.

Bloomberg has launched a pre-trade tool that uses natural language processing to pick FX quotes out of a user's Instant Bloomberg chat messages and group them into a single price view, the company said Monday.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)The tool, called MYQ, reads quotes negotiated over Bloomberg's chat network and displays them in a curve-style layout organized by currency pair, tenor, and bid/offer level, according to Bloomberg. The company said the feature is meant to feed into FXGO, its multi-bank FX trading platform, rather than replace it. A big chunk of FX pricing in the interbank and dealer-to-client markets still moves over chat, and Bloomberg said traders currently have to hop between windows and chat rooms to compare what counterparties are showing them.Chat as a price-discovery layerBloomberg said MYQ includes a history log of recent chat-based quotes, a click-to-navigate function that jumps users to the chat room where a quote originated, and filters for currencies and chat rooms. The company did not disclose how many FX clients it is targeting, what the tool will cost, or whether it is bundled with an existing Bloomberg Terminal subscription."FX market participants often need to sift through massive quantities of fragmented pricing data across dozens of applications just to source the right liquidity to meet their objectives," Ed Loftus, Head of FX Relative Value and Applications at Bloomberg, said in the statement.He said the company is "transforming how clients quickly find prices and streamline FX trade negotiation."The launch extends a series of additions Bloomberg has made around FXGO over the years, which has picked up central bank and corporate adoption in markets including Malaysia and more recently added FX options trading through a request-for-quote workflow. Bloomberg has not published standalone volume figures for FXGO in recent years.Competition in the chat-to-execution raceMYQ lands in a segment where Bloomberg already has well-established competition on the messaging side. Symphony, the bank-backed communications platform launched in 2015, has spent years positioning itself as a lower-cost alternative to Instant Bloomberg and has built out workflow integrations with the likes of Dow Jones and the former Thomson Reuters Eikon. Bloomberg cut the price of a standalone chat subscription in response to that pressure several years ago.On the pre-trade data side, the likes of LSEG's Refinitiv, 360T, and FXSpotStream have been investing in order-book transparency and low-latency feeds. Refinitiv, for example, launched an enhanced low-latency FX market data feed aimed at helping Spot Matching clients sharpen price discovery. MYQ tackles a different piece of the workflow, the unstructured quotes that sit inside chat threads, but the end goal is similar: give traders a cleaner view of where executable prices actually are before they hit the market.. Institutional FX volumes have fluctuated sharply through 2025 across the major platforms, and whether a chat-surfacing layer changes how dealers and buy-side desks source liquidity is likely to depend on how quickly major counterparties opt in. This article was written by Damian Chmiel at www.financemagnates.com.

The retail brokers that spent the last decade pitching themselves as the anti-Wall Street alternative are quietly rebuilding their product stacks to look a lot like the firms they set out to disrupt, Bloomberg reported last week. Robinhood Markets, Revolut and Public.com are rolling out premium credit cards, concierge lines and invitation-only events aimed at customers with six- and seven-figure balances.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)Deepak Rao, vice president and general manager of Robinhood Money, told Bloomberg the logic behind the push is retention. "The crux of our strategy is making sure people who got wealth on our platform don't graduate," Rao said, in comments framed as an effort to keep high-balance clients from migrating to Goldman Sachs Group, JPMorgan Chase and Citigroup.Customer Base Ages and Balances ClimbThe strategic rationale comes down to demographics. The median age of a Robinhood customer has moved to 36 from 31 five years ago, according to figures cited by Bloomberg. The firm now reports more than 300,000 customers with balances above $100,000, a number the company said is up more than 250% since 2022.eToro's Club program counted more than 720,000 members at the end of last year, compared with 579,000 a year earlier. The platform's top Diamond tier, reserved for clients holding $250,000 or more, offers tickets to selected sporting events, airport lounge access, and a Visa card that returns 4% in stock rewards. eToro earlier added a $4.99 monthly Club subscription that unlocks Platinum-tier perks without the balance requirement.Public.com runs an invite-only concierge service for customers with at least half a million dollars in assets or high trading activity, and the company told Bloomberg the program has continued to grow.A Race to Own the Wealth RelationshipThe lines between retail trading apps, neobanks and private banks are blurring at an accelerating pace. Robinhood's most direct move came with its $300 million acquisition of TradePMR in November 2024, which the firm used as the foundation for Robinhood Advisor Network, a referral marketplace that went live in March targeting users with at least $250,000 in investable assets.Revolut has taken a parallel route through private banking. The London-based fintech has been hiring multi-lingual private bankers and was reportedly in talks with Blackstone about integrating private-market products into its planned private banking offering. Revolut's wealth division was its fastest-growing segment last year, and the firm reported £1.7 billion in pretax profit for 2025 on revenue of £4.5 billion.What differs from the incumbent playbook is the customer funnel. Where Goldman Sachs and JPMorgan onboard through relationship bankers, the digital-first firms are trying to convert existing retail users as their balances grow.Premium Card Perks and an Analyst's VerdictRobinhood unveiled its new $695-a-year platinum card at an event held at the TWA hotel at New York's JFK airport. The card, which the company said is plated with 99.9% pure platinum and weighs 17 grams, carries 5% cash back on dining, a $250 annual DoorDash credit, and 10% back on hotels and rental cars. It builds on the original Robinhood Gold Card launched in 2024.Ted Rossman, a principal analyst at Bankrate, was not convinced by the value proposition. "My honest opinion is that this card isn't as good as AmEx Platinum or the Chase Sapphire," Rossman told Bloomberg, pointing to the DoorDash credit structure as "a lot more restrictive than it looks."Family Office Ambitions and Trust BaggageFor the fintech executives making the pitch, the long-term target is becoming the primary financial relationship for maturing customers. eToro Chief Executive Yoni Assia told Bloomberg the platform's elite program will soon be expanded. "Eventually I would want to see eToro as your family office," Assia said. Robinhood CEO Vlad Tenev has used similar language, describing his vision as a "family office in your pocket".Whether the brokers can actually pull off the move upmarket is another question. Abigail Sussman, a marketing professor at the University of Chicago Booth School of Business, told Bloomberg that direction of travel matters. "It's a lot easier for a brand that starts out as a high prestige brand to go mass-market," she said.Trust has been a recurring complication. Robinhood agreed in 2021 to a $70 million FINRA fine over alleged supervisory and customer-communication failures, without admitting or denying the findings. eToro in 2024 agreed to pay $1.5 million to settle SEC allegations that it had operated as an unregistered broker and clearing agency in the United States.For now, the pivot remains a work in progress. Robinhood's revenue base is still closely tied to transaction volumes and crypto sentiment, and eToro's latest filings show crypto trading at roughly 91% of the top line. Whether affluent retail customers consolidate their financial lives inside apps that first onboarded them with free trades will take several reporting cycles to answer. This article was written by Damian Chmiel at www.financemagnates.com.

Gold traded at $4,733 per ounce on Monday, April 13, 2026, slipping 0.3% after US-Iran peace talks ended without resolution and Washington announced it would blockade the Strait of Hormuz. The yellow metal is now roughly 15% below the $5,595 all-time high set on January 29, pinned inside the same $4,300 to $5,600 range that has defined trading since the Iran war began on February 28. Bullion is still up around 80% since the start of 2025, according to Bloomberg, but the March rout was the steepest monthly decline since the 2008 Financial Crisis. This week's catalysts are US March PPI, weekly jobless claims, and any update on the Hormuz blockade mechanics.Follow me on X for real-time market analysis: @ChmielDkWhy UBP Is Buying Gold Again After the Iran-War FlushUnion Bancaire Privée, which manages about CHF 184.5 billion ($233 billion) in client assets, is gradually rebuilding gold exposure in discretionary client portfolios after cutting it from roughly 10% to 3% during the Iran-war slump. Bullion positions have since recovered to around 6% of those portfolios, and the Swiss bank still sees prices rising to $6,000 an ounce by year-end.[#highlighted-links#] "We have taken the first steps to rebuild gold portfolios after the flush-out of one-sided positions," said Paras Gupta, Head of Discretionary Portfolio Management in Asia at UBP, in a Bloomberg interview. Gupta added that institutional and retail bullion positioning is now "quite balanced" and that structural demand, including central bank buying, fiscal-deficit concerns, and geopolitical tensions, remains intact.Gupta flagged one short-term risk. "The risk of inflation is coming in more immediately," he said, noting that surging energy prices could weigh on gold through the rate channel even as the macro picture avoids recession. As the FinanceMagnates.com analysis from April 8 detailed, that same macro crosswind forced bullion's steepest monthly decline since 2008 in March. That framing echoes State Street's April Monthly Gold Monitor, where Aakash Doshi, Head of Gold Strategy, wrote that oil prices normalizing to $80 to $85 per barrel "could quickly send gold prices back above US$5,000/oz."The structural bull case rests on four converging signals:Central bank demand: Reserve managers continue diversifying away from dollar assets, with JPMorgan modeling 800 tonnes of official-sector buying in 2026ETF rebuild: Global gold-backed ETF holdings rose by around 20 tonnes in April after March posted the biggest monthly outflows in five years, per BloombergFiscal deficits: Sovereign debt concerns remain a durable tailwind across every major institutional forecastGeopolitical risk: The weekend Hormuz blockade announcement removed the de-escalation narrative that dip-buyers had been tradingAs the FinanceMagnates.com report from early April detailed, UBS has set the most bullish year-end target at $5,600, though precious-metals strategist Joni Teves warned investors may be watching the late stage of the bull run.Gold Technical Analysis: Bearish Pin Bar at the 50 EMA Warns of Another Leg LowerGold barely flinched on the weekend headlines. My chart shows XAU/USD testing $4,733 on Monday while the market structure remains unchanged: a sideways consolidation bounded by the January all-time high near $5,600 and the March lows around $4,300.At the $4,300 lower boundary on March 23, a powerful pin bar rejected the 200 MA and October 2025 highs simultaneously. As I wrote in my previous analysis, that candle marked a decisive rejection and delivered a correction back toward the midpoint of the range, where price met another layer of resistance around $4,800.Last week, my chart printed a bearish pin bar at that $4,800 resistance with a very long upper wick and a thin body. That signal is reinforced by the 50-day exponential moving average converging in the same zone, which now acts as the dynamic cap on any bounce attempt. The lower consolidation boundary is strengthened by the 200 MA, currently running near $4,260. My bias is neutral-to-bearish inside the range until one side breaks.An upside break above $4,800 on strong volume reopens a test of $5,100 and then the $5,600 record. A downside break of $4,300 and the 200 MA at $4,260 would expose the $4,000 zone that State Street identifies as the structural floor. Based on Fibonacci extensions stretched across the 2025 uptrend and the 2026 correction, my measured target for the next impulse higher sits near $7,000 per ounce, which is contingent on the consolidation resolving to the upside.Gold Price Predictions 2026: From UBP's $6,000 to State Street's $4,000 FloorInstitutional forecasts have tightened around the $5,400 to $6,300 zone even after the March crash. State Street's Monthly Gold Monitor, authored by Aakash Doshi, assigns a 50% probability to a $4,750 to $5,500 base case into year-end and a 30% probability to a $5,500 to $6,250 bull case. "Down but not out is how we frame the historic gold market volatility of 1Q 2026," Doshi wrote, adding that gold "is still in the middle innings of a bull cycle."As my February analysis of the Reuters poll established, the median 2026 gold forecast from 30 analysts sits at $4,746.50 per ounce, almost exactly where spot trades today. On the extreme end, as the FinanceMagnates.com report on Robert Kiyosaki detailed, the "Rich Dad Poor Dad" author is still forecasting $35,000 gold after a fiat-system collapse.Bull case:UBP and peers rebuild ETF and discretionary portfolio exposure from March lowsOil normalizes toward $80 to $85 per barrel, easing the Fed's inflation constraintCentral bank buying sustains the 60-tonnes-per-month pace into year-endHormuz blockade stays contained and does not trigger a liquidity squeezeBear case:Brent crude pushes above $150 per barrel, forcing the Fed to hold or hikeMoney markets now price zero easing in 2026 after pricing 58 bps pre-war, per State StreetA breakdown of $4,260 (200 MA) opens the $4,000 to $4,100 structural floorFurther profit-taking and liquidity-sleeve selling weighs on spotAs the March 19 FinanceMagnates.com crash analysis detailed, the technical break below the 50-day MA near $4,978 triggered momentum selling from a crowded long. That same $4,978 zone now sits just above the current 50 EMA and frames the ceiling gold must reclaim before institutional targets reassert themselves.Gold Price Analysis, Frequently Asked QuestionsHow high can gold go in 2026?Institutional year-end targets cluster between $5,400 (Goldman Sachs) and $6,300 (JPMorgan, Wells Fargo). UBP reaffirmed $6,000 on April 13, 2026, while UBS holds $5,600. State Street assigns a 30% probability to a $5,500 to $6,250 bull case. My Fibonacci extension projects $7,000 if the current consolidation resolves higher.Why is UBP buying gold again?UBP cut gold exposure from roughly 10% to 3% of discretionary portfolios during the Iran-war slump. Holdings have since recovered to around 6%. Head of Discretionary Portfolio Management Asia Paras Gupta said positioning is now "quite balanced" and structural demand, including central bank buying and fiscal-deficit concerns, remains intact. The bank manages $233 billion in client assets.What is the gold price today?Gold traded at $4,733 per ounce on Monday, April 13, 2026, down roughly 0.3% after US-Iran peace talks collapsed and the US announced a Strait of Hormuz blockade. Spot sits about 15% below the $5,595 all-time high from January 29 but remains up around 80% since the start of 2025, according to Bloomberg data.Could gold fall below $4,000?State Street assigns a 20% probability to a $4,000 to $4,750 bear case for year-end 2026, flagging $4,000 to $4,100 as the structural floor. A bearish resolution would require a weekly close below $4,260 (the 200 MA) and sustained oil prices above $150 per barrel, which would force the Fed to remain hawkish and weigh on bullion through the real-rates channel.What is the Fibonacci target for gold?My Fibonacci extension, measured from the 2025 uptrend and the 2026 correction, projects a next-leg target near $7,000 per ounce. That target is only valid if gold breaks above the $4,800 resistance (50 EMA) and reclaims $5,100 on strong volume. A failure at $4,800 keeps price trapped inside the $4,300 to $5,600 range. This article was written by Damian Chmiel at www.financemagnates.com.

XTB ended March less than 9,000 accounts shy of a million in its home market, according to fresh data from Poland's Central Securities Depository (KDPW), setting up the Warsaw-listed broker to cross the milestone when April figures are published next month.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)The KDPW tally credited XTB with 991,791 accounts with access to the Polish market at the end of March, an increase of 50,598 from February and 525,452 over the past 12 months. With the company adding roughly 55,000 accounts a month over the past half year, the seven-figure threshold should be cleared well before the April report lands.The total Polish brokerage market reached 2,736,531 accounts, up by 60,858 month-on-month and by 660,154 year-on-year. That means XTB accounted for about 83% of all net new accounts added to the KDPW system in March, extending a domestic dominance that has reshaped the Polish broker league table over the past three years.XTB Pulls Further Ahead of mBank and PKO RivalsThe gap between XTB and the rest of the field continues to widen. mBank's brokerage arm, the second-largest player in the KDPW data with 550,244 accounts, added 5,522 during the month. State-controlled BM Pekao, ING Bank Śląski, DM BOŚ and BM PKO BP each added fewer than 1,000 accounts. Only mBank and XTB exceeded the four-figure mark for monthly net additions.The first quarter as a whole saw Polish brokerages add 201,925 accounts in the KDPW dataset, the strongest start to a year on record. The pace did cool from the December and January peak, when Poles rushed to open tax-advantaged IKE and IKZE retirement accounts before the year-end deadline. December alone delivered roughly 100,000 new accounts and January another 80,600, before February and March settled into a similar 60,000-a-month rhythm.XTB has been a primary beneficiary of that retirement-savings push. The broker launched IKZE accounts in mid-2025 to complement its existing IKE product, plugging into a segment that government data showed already counted more than 593,000 IKZE holders nationwide at the end of 2024.Saturated Home Market Forces a Domestic Price WarThe KDPW report covers all accounts with access to the Polish market regardless of activity, and brokerages periodically purge dormant ones, which can cause occasional dips in the headline figures. A separate dataset published by the Warsaw Stock Exchange tracks active accounts and tends to run lower.The KDPW data also excludes Revolut, which operates its Polish investing service under a Lithuanian license. The fintech disclosed last year that it had signed up around 590,000 Polish investment customers, a figure that, if it were included in the KDPW rankings, would place it second, ahead of mBank and well clear of every traditional bank-owned broker.Competition has only intensified since. German neobroker Trade Republic entered Poland late last year, and several incumbent brokerages have responded by trimming commissions, a domestic price war that Finance Magnates reported on alongside the December surge when the overall market crossed 2.5 million accounts for the first time. The Warsaw Stock Exchange's WIG index gained 47% in 2025 and broke through 100,000 points for the first time, a backdrop that has helped pull retail investors off the sidelines.Domestic Engine Powers a Global Client BaseFor XTB, the Polish numbers are a partial picture. The KDPW figures only capture accounts with access to the Polish market, while the broker reports a broader global client base in its quarterly results. The company added 864,000 clients worldwide in 2025, more than it had gathered in its first two decades combined, with Poland generating roughly 54% of consolidated revenue.That domestic strength has come at a cost. XTB's 2025 net profit fell about 25% to PLN 644.2 million as marketing spending climbed nearly 70% to PLN 584.9 million, the company said in its annual report. Chief executive Omar Arnaout has described the spending as a deliberate push to accelerate client acquisition, and has separately flagged spot crypto trading, due to launch in Cyprus this year, as a way to dilute the group's heavy dependence on CFD revenue. This article was written by Damian Chmiel at www.financemagnates.com.

Pepperstone Limited, the UK subsidiary of Australian foreign exchange group Pepperstone, posted a sharp jump in earnings for the fiscal year ended June 30, 2025 (FY25), with profit before tax climbing to £24.1 million from £13.3 million a year earlier, according to the broker's latest accounts filed with Companies House.Net profit at the FCA-regulated entity rose to £18 million, up 81% from £9.9 million in fiscal 2024. Trading revenue from commissions, swaps and spreads on contracts for difference and spread bets reached £15 million, a 15.5% increase from £13 million the previous year.The bigger swing, however, came from outside the trading book. Other income, which the company attributes mostly to services provided to other entities within the group, jumped to £22.9 million from £13.2 million. Of that, £21.4 million represented a profit repatriation allocation from another group entity, the filing shows. Interest income contributed a further £1.5 million.Trading Revenue Recovers After 2024 DipThe 2025 numbers mark a rebound for the London arm, which had reported a slight revenue dip in the prior year. As Finance Magnates reported in early 2025, Pepperstone Limited closed fiscal 2024 with £13 million in trading revenue and a £9.9 million profit, alongside its first dividend distribution in years.The latest filing shows the company added 272 new trading instruments across asset classes during the year, taking the total catalogue to more than 1,700 CFD and spread-bet products. The broker said it remains focused on professional traders and retail clients "who are generally experienced and informed about derivatives and financial markets."Average headcount at the UK entity stood at 27, broadly flat year on year, while the wider Pepperstone group employed more than 600 staff. Employee expenses rose to £4.8 million from £3.8 million.Spread Betting Players Crowd a Shrinking UK FieldPepperstone's UK business operates in a market that has consolidated around a handful of large names, even as new entrants chip away at the edges. IG Group, CMC Markets and Plus500 dominate the listed UK retail derivatives space, while privately held competitors including Pepperstone, ActivTrades and XTB compete for the same retail and professional client base.Group CEO Tamas Szabo has previously told Finance Magnates that the UK contributes between 10% and 13% of overall group revenue, calling the market "significant" despite broader industry concerns about declining UK retail participation. In a 2024 interview at the Finance Magnates London Summit, Szabo said the firm sees crypto exchanges encroaching on the CFD turf and flagged crypto as Pepperstone's fourth-largest asset class by trading activity.Pepperstone has differentiated its UK offering in part through its TradingView integration, having added spread betting on TradingView for UK clients in 2023. That contrasts with rival approaches: CMC Markets has leaned on its proprietary Next Generation platform, while IG Group continues to push its own ecosystem alongside tastytrade in the United States. Pepperstone's UK license does not allow it to take on market risk, with all of that exposure routed back to affiliate Pepperstone Group Limited.Group Cash Repatriation Drives the Headline NumberStrip out the intra-group services income and Pepperstone Limited's underlying trading business looks more measured than the headline profit suggests. The £21.4 million profit repatriation from another group entity is the single biggest line item on the income statement and effectively flatters the UK numbers relative to organic trading performance.The company also released a £300,000 legal provision booked the previous year after the Financial Ombudsman Service ruled in its favor on the underlying complaint, the filing notes. A £6.1 million UK corporation tax expense brought the effective tax rate close to 25%.Dividends paid during the year totaled £8.5 million, up from £6.3 million in fiscal 2024, with all of it flowing to immediate parent FX MidCo Pty Ltd in Australia. Client segregated cash held in designated accounts ended the period at £26.2 million, broadly flat against £27 million a year earlier.Capital Buffers Sit Well Above Regulatory FloorThe UK entity reported a Pillar 1 capital adequacy ratio of 427% and a liquid asset ratio of 877% as of June 30, 2025, with regulatory Tier 1 capital of £12.4 million. Both figures sit well above the minimums required under the UK Investment Firms Prudential Regime that applies to MIFID investment firms.Auditor Ernst & Young signed off the accounts on October 21, 2025, issuing an unqualified opinion. Directors include group CEO Tamas Szabo, Savvakis Ioannou and Robert Bowen, who joined the London office in 2019 from IG Group, as Finance Magnates reported at the time. The wider Pepperstone group is ultimately controlled by FX HoldCo Pty Ltd, registered in Melbourne. This article was written by Damian Chmiel at www.financemagnates.com.

FXTM to drop FCA license, doubles down on UAEThe forex and CFD brokerage landscape continues to evolve as major players reassess their market focus. FXTM, the forex and CFD broker owned by Andrey Dashin, is preparing to relinquish its UK Financial Conduct Authority (FCA) license as the company shifts its strategic focus toward Asia and the Middle East.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).At the same time, FXTM is strengthening its presence in the Gulf region by upgrading its existing Category 5 licence in the UAE to a Category 1 license. It will allow it to offer full brokerage operations and client onboarding within the country.The broker’s UAE expansion coincides with a new partnership with a local Indonesian brokerage firm, signaling broader regional ambitions across Asia.FP Markets joins layoff waveCFD broker FP Markets become the latest firm to implement job cuts as part of a broader restructuring trend in the retail brokerage industry. Christina Koro, the firm’s Group Head of HR & People Culture, confirmed to Finance Magnates that the layoffs affected less than 7% of the broker’s global workforce. She explained that the decision was linked to a wider organizational review examining how roles are structured and aligned with the company’s ongoing growth strategy. Koro added that while some positions are being consolidated or redefined, FP Markets continues to invest in technology and expand into new markets. The Australian-based broker employed over 300 staff globally as of mid-2025, including more than 100 in Cyprus.74 UK brokers allowed to offer CFDsMeanwhile, as of December 1, 2025, there were 74 Financial Conduct Authority (FCA)-regulated firms permitted to offer contracts for difference (CFD) products to retail traders in the United Kingdom, according to data obtained by FinanceMagnates.com through a Freedom of Information request. In total, 105 firms were listed within the FCA’s CFD portfolio, though a few are believed to have since surrendered their licenses. Among those planning to exit the UK market is FXTM, which recently confirmed its intention to give up its FCA license while expanding operations in the UAE and Indonesia. The British regulator further disclosed that 2,547 firms were authorized to act as principals and/or agents with permissions covering CFDs, rolling spot forex, or spread bets for clients. Despite some withdrawals, the figures highlight that dozens of brokers remain active under FCA oversight.Are tech glitches breaking traders?Trading technology problems have become the main source of stress for many buy-side equity traders, outweighing worries about careers, compliance, and work-life balance. A recent study found that 51% of surveyed traders named internal tech issues as their biggest cause of fatigue or burnout, with frequent small glitches creating a “death by a thousand cuts” effect and leaving less tolerance for IT failures in an electronic trading environment.Capital cycle and crowding update for thematic ETF's. Noteworthy that robotics and automation remain relatively uncrowded and capital scarce compared to its own 10y history pic.twitter.com/kxc0VYKGyY— Variant Perception (@VrntPerception) September 24, 2025In his column, Paul Golden looks at how these technology issues affect traders’ mental load and day-to-day work. He also examines HALO investing trends, the risks linked to thematic ETFs, and why Bloomberg terminals still matter even as new AI tools challenge their role in the trading desk toolkit.MetaQuotes debuts MetaTrader.comElsewhere, MetaQuotes, the Cyprus-based developer of the MetaTrader trading platforms, launched MetaTrader.com, a centralized portal designed to deliver financial data and tools to retail traders, market analysts, and algorithmic developers. The new site consolidates market information, news feeds, interactive charting, and a developer marketplace in one location. According to the company, users can log in using their existing MQL5.com credentials, enabling seamless access for those already part of the MetaQuotes community.The launch continues MetaQuotes’ effort to broaden its product ecosystem beyond its flagship MT4 and MT5 terminals. It follows several recent initiatives, including a December 2025 update to the pricing model for its Ultency liquidity bridge.Prop firms pivot to stocks, without the leverageFor nearly a decade, proprietary trading firms have perfected a model rooted in forex and CFDs, fast-paced markets defined by high leverage, razor-thin spreads, and quick turnover. The approach has paid off handsomely: industry figures show that leading firms have distributed more than $1 billion in trader payouts, with FTMO alone handing out roughly $450 million during its first ten years in business.Now, the sector’s attention is turning to a much larger playing field: U.S. equities. Yet this strategic shift poses fundamental questions about sustainability. Stocks lack the extreme leverage and margin efficiencies that underpin the FX prop model, forcing firms to rethink how they generate returns and whether their business economics can adapt to a market governed by very different mechanics.Coinbase wins Aussie nod for equity derivativesIn the crypto space, Coinbase is pushing ahead with its global expansion after obtaining an Australian financial services license. The new authorization enables the crypto exchange to offer crypto and equity perpetual contracts, with plans to roll out additional products such as futures and options in the future. The move marks a significant step in Coinbase’s broader strategy to evolve into a multi-product financial platform. The company aims to integrate crypto trading with equities, derivatives, and other traditional instruments, positioning itself as a comprehensive “gateway to everything in finance.”Singapore’s independent wealth managers gear up for growthElsewhere, the external asset management is emerging as a key growth area in Singapore’s wealth sector as high-net-worth and ultra-high-net-worth clients increasingly seek customized investment solutions. The trend highlights a shift toward independent advice and greater flexibility compared to traditional private banking models.New research from Bank of Singapore shows that external asset managers are gaining momentum, supported by a new generation of clients who prioritize autonomy, transparency, and personalized service. Over half of the managers surveyed in late 2025 and early 2026 said they were exploring new markets and forming strategic partnerships, while nearly two-thirds identified enhancing client experience and engagement as their main focus.iFOREX, DB Investing, and GTN: executive moves of the weekIn the executive moves of the week, CFD and FX broker iFOREX named Michael Hewson as its new Senior Financial Strategist, bolstering the company’s in-house research and education offering. Hewson joins after a long spell at CMC Markets as Chief Market Analyst, followed by a period working independently as an analyst and content producer.UAE-based forex and CFD broker DB Investing appointed Syed Ahmmed as Chief Business Development Officer, giving him a global remit after several years in senior roles at OneRoyal and Zara FX. He is based in Muscat, Oman, and oversees business development for the broker across MENA, the Indian subcontinent, Southeast Asia and Latin America.Lastly, Salim Sebbata, a veteran of the retail trading sector, left Capital.com to join GTN as Chief Commercial Officer for its European operations, Finance Magnates has learned. He said the company’s main focus for his remit will be driving organic growth in Europe. This article was written by Jared Kirui at www.financemagnates.com.

The ETF industry, following the launch of spot Bitcoin ETFs, is now exploring prediction markets as a new underlying exposure.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).Bitwise Asset Management and Roundhill Investments have filed applications with the SEC to launch ETFs tied to prediction market contracts.ETFs as a Distribution LayerThe initial filings focus on political events — contracts like "Democratic president wins 2028 election" or "Republican president wins 2028 election." The logic mirrors what happened with Bitcoin. Investors can already open accounts directly on platforms like Kalshi or Polymarket, but many won't — or can't. An ETF solves that by letting them gain exposure through standard brokerage accounts. "If you think about the ETF industry writ large... it takes interesting financial applications and packages them into an easy wrapper that people can access," Bitwise CIO Matt Hougan said on the Trillions podcast."I think prediction markets are one of the most important new financial ideas maybe since crypto and if we can package them in an ETF you will see extensive use of them in various portfolio settings" - @Matt_Hougan on Trillions re prediction market ETFs, which are likely coming… pic.twitter.com/PECCdbNBzE— Eric Balchunas (@EricBalchunas) April 9, 2026"This is a natural extension of that." On the mechanics side, the ETFs would hold either the underlying prediction market contracts directly or use swaps with institutional counterparties to replicate contract performance.Why Issuers Are Starting with Politics The focus on politics is deliberate. Sports-related contracts are currently under pressure from state gambling regulators, and issuers are steering clear. "The presidential election will impact huge numbers of investments. Whether Michigan beats UConn or not will not impact a huge number of investments," Hougan said. By anchoring the products to events with clear financial and economic implications, issuers are positioning them as hedging tools rather than gambling proxies.Regulatory Path Is Unclear The path to launch isn't guaranteed. The SEC will scrutinize liquidity in the underlying contracts and disclosure quality. Hougan described the process as a "dance" — lining up trading partnerships, confirming swap counterparties, building the infrastructure regulators will want to see before approval. The precedent from Bitcoin ETFs matters here. That process was long and contentious, but it ultimately worked, and it left the industry with a clearer playbook for taking unconventional products through SEC review. For brokers and asset managers, the signal is straightforward: the same machinery that brought crypto into mainstream portfolios is now being pointed at prediction markets. If these filings succeed, they open a new asset class to retail and institutional investors alike — and reshape how market participants hedge exposure to political and macroeconomic outcomes. This article was written by Tanya Chepkova at www.financemagnates.com.

Data from Cboe Global Markets showed that index options average daily volume reached a record 6.9 million contracts in March, capping a record first quarter, with activity in key products such as S&P 500-linked options also hitting new highs.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).Retail traders appeared to return to the market in March as heightened volatility and geopolitical uncertainty drove a surge in trading activity across derivatives and foreign exchange markets.FX and Options Volumes SurgeThe pickup in trading activity came alongside a broader market selloff and a sharp rise in volatility. The S&P 500 fell 5% in March, while the Cboe Volatility Index climbed toward 25 and moved above 30 multiple times, reflecting stronger demand for short-term hedging and directional trades.Such conditions typically draw retail traders back into the market, particularly into leveraged instruments such as options and FX, where short-term price swings create more trading opportunities.This trend was also visible in currency markets, where Cboe reported that its FX spot market ADV rose to $74.5 billion in March, marking a 42.9% increase from a year earlier and the highest level on record, while volumes on its SEF platform more than doubled year-over-year.While the bulk of activity remains institutional, the combination of market turbulence and macro-driven uncertainty—including ongoing geopolitical tensions—appears to have supported broader participation across asset classes.Ecosystem and listing expansionIn a parallel development last year highlighting the exchange’s expanding ecosystem, Centroid Solutions integrated its platform with Cboe Global Markets. The integration provides broker clients with a single connection to real-time pricing across equities, options, indices, and derivatives in U.S. and European markets.In the same period, Australia’s ASIC also approved Cboe to list companies. The move opens the door to IPOs and dual-listed firms, and ends the ASX’s long-standing dominance in new listings. This article was written by Tareq Sikder at www.financemagnates.com.

Cyprus has once again emerged as Europe’s most digitally engaged nation among young people. According to new EU data for 2025, almost every Cypriot aged 16 to 29 used social media last year, underscoring the island’s position as one of the bloc’s most connected societies.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)Cyprus Tops EU Youth Social Media UseOfficial European statistics show that 98.3% of young Cypriots accessed social networks in 2025, the highest share in the European Union. Cyprus ranked ahead of Czechia (97.2%), Denmark (96.9%), and Finland (96.6%). Across the EU, an average of 89.3% of 16–29-year-olds reported using social media, compared with 67.3% of the general population.For brokers, this data means Cyprus is a very good place to run an online trading business. Young people in Cyprus use social networks almost all the time, so they already feel comfortable with apps, online accounts, and digital payments.Additionally, Cyprus recorded one of the smallest gaps between young and older users. The difference in social media activity between youth and the broader Cypriot population stood at 11.8 percentage points, showing that people of all ages in Cyprus are relatively active online.Large Gaps Seen Elsewhere in the EUOther EU countries showed wider generational divides. Croatia had a 29.2-point gap, followed by Austria with 28.2 points and Poland with 27.2 points. In these nations, social networks remain far more popular among young people than among older citizens.Keep reading: Cyprus Brokers Captures 1 in 3 EU Cross-Border Traders (While Complaints Soar 46%)By contrast, smaller gaps appeared in Denmark, Malta, and Cyprus, where digital engagement is widespread across society. The figures underline how Cyprus continues to stand out for its strong online culture, a trend that parallels its growing role as a base for online-based industries, including fintech and CFD trading.Regulator’s ConcernsInterestingly, CySEC recently warned that smartphones and mobile apps now make it much easier for young investors to take risks and end up in speculative products they do not fully understand. In a piece for Eurofi Magazine tied to the Nicosia 2026 Eurofi seminar, Vice Chairman, Panikkos Vakkou, urged the EU’s Savings and Investment Union to ban the gamification of investing and called for clear disclosure on how firms earn money and where their incentives may clash with clients’ interests.Vakkou’s warning follows CySEC’s 2022 investor protection campaign, which targeted trading “gamification” and the rising influence of finfluencers on social media. At the time, the regulator said it was concerned about young, inexperienced investors being steered into complex, high‑risk products by aggressive online marketing and social media promotion, and it urged retail clients not to base decisions on emotions or social pressure.ESMA data shows that cross-border investing in the EU is growing fast, with about 10.5 million retail clients using services from firms based in other member states in 2024, up 32% from 8 million a year earlier. At the same time, the number of active providers fell to 370 firms across 30 EU/EEA countries, a 4% drop, meaning each firm now serves more clients on average, around 28,000 versus 20,000 in 2023. Cyprus-regulated brokers alone handle roughly one in three of these traders as complaints about cross-border services jumped by 46% to nearly 11,000 cases. This article was written by Jared Kirui at www.financemagnates.com.

Hong Kong has issued its first stablecoin issuer licenses under a new regulatory framework overseen by the Hong Kong Monetary Authority.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).The regulator announced the initial batch of approvals on Friday (today). It said this marks the first licenses issued under its stablecoin regime. Two entities were approved. They are Anchorpoint Financial and HSBC.HSBC, Anchorpoint Get First LicensesAnchorpoint Financial is a joint venture. It was formed by Standard Chartered Bank in Hong Kong, Animoca Brands, and Hong Kong Telecommunications. It focuses on digital asset infrastructure linked to regulated financial services.HSBC’s Hong Kong entity, the Hongkong and Shanghai Banking Corporation Limited, is one of the city’s three note-issuing banks. It is among the largest banking institutions in Hong Kong.The approvals indicate a cautious start to the licensing process. Regulators appear to be prioritizing bank-linked and institution-backed issuers in the early phase of the regime.The announcement follows weeks of market speculation over potential licensees. It also follows a delay to earlier expectations. HKMA Chief Executive Eddie Yue said in February that “a very small number of issuers would be licensed in March.” That timeline was not met before the first approvals were issued.Hong Kong grants first stablecoin licences to StanChart joint venture and HSBC https://t.co/IoY0a2VPvH— Reuters Asia (@ReutersAsia) April 10, 2026Stablecoin Infrastructure Expands in Hong KongSeparately, EX.IO signed a memorandum of understanding with Payment Asia. The two companies said they will explore stablecoin-related payments, custody, trading, and application use cases in Hong Kong. They said the aim is to support infrastructure for regulated stablecoin issuers and promote real-world adoption once the framework is implemented.Hong Kong’s stablecoin regime took effect on August 1, 2025. It requires issuers of fiat-referenced stablecoins to obtain a license from the Hong Kong Monetary Authority. The framework includes requirements on reserve backing, redemption rights, governance standards, and anti-money laundering controls. This article was written by Tareq Sikder at www.financemagnates.com.

Japan has amended its main financial law to tighten oversight of crypto assets. The government approved changes to the Financial Instruments and Exchange Act on Friday (today), according to Nikkei.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).The amendment classifies crypto assets as financial instruments. This moves them away from being treated mainly as payment tools. They will now be regulated in a way similar to securities. The step follows plans outlined in 2025 to bring crypto under the same law with disclosure and insider trading rules.Japan Bans Insider Trading, Raises PenaltiesUnder the revised framework, insider trading in crypto assets is banned. The rule targets trading based on undisclosed information. Authorities have also increased penalties for unregistered crypto exchanges.The amendment introduces new disclosure requirements. Crypto “issuers” must publish information at least once a year. The measure is intended to improve market transparency.Japan is also preparing for broader market integration. Plans call for allowing crypto exchange-traded funds by 2028. Firms such as Nomura Holdings and SBI Holdings are expected to develop related products.JUST IN: ?? Japan officially approves bill to recognize cryptocurrency as a financial asset.— Watcher.Guru (@WatcherGuru) April 10, 2026Japan Signals Lower Tax, Institutional GrowthJapan’s Financial Services Agency had previously overseen crypto under the Payment and Settlement Act. That framework focused on their use as a means of payment. The latest revision reflects growing institutional activity in the sector.By reclassifying crypto assets, Japan is aligning them more closely with traditional financial markets. The move places them alongside instruments such as equities, with similar oversight standards.Finance Minister Satsuki Katayama outlined the policy direction after a Cabinet meeting. She said the government will “expand the supply of growth capital” and “ensure market fairness, transparency, and investor protection.”The shift builds on earlier signals from policymakers. In January, Katayama said “the role of exchanges and market infrastructure will be essential” to ensure citizens benefit from digital assets.Policy changes have also extended to taxation. In December, the government backed plans to reduce the maximum tax rate on crypto profits to a flat 20%. This article was written by Tareq Sikder at www.financemagnates.com.

Poland’s XTB is increasing its presence in the United Arab Emirates, as the broker received Category 1 and Category 2 licences there, which will allow it to locally onboard clients and execute trades.Announced today (Friday), the broker highlighted that the two licences would allow it to offer “more advanced investment products” locally to UAE traders in the future.The Future Is in the Middle EastNotably, XTB has had a presence in the UAE for years - it has been operating under a licence granted by the Dubai Financial Services Authority (DFSA) since 2021 and obtained a Category 5 licence from the Capital Markets Authority (CMA) in 2024.Although the Cat 5 licence allowed the broker to offer its services locally as a mainland company, it could only market and promote products offered locally. This means the licence is more like an introducing broker model, which only allows brokers to promote products of an offshore entity and onboard clients under that entity.[#highlighted-links#] “Receiving authorisation from the CMA is an important development for our business in the region,” said Achraf Drid, Managing Director, XTB MENA. “It enables us to operate with greater proximity to our clients while adhering to one of the most respected regulatory environments globally.”“The UAE has created a highly attractive ecosystem for financial services firms, combining regulatory clarity with long-term economic vision. This is a market where we see sustained opportunity, and where we intend to build for the future.”Read more: XTB MENA Chief Says Dubai Bet Survived Its First Real Stress TestA New Hub for CFD BrokersFinanceMagnates.com earlier highlighted that most brokers entering the UAE are opting for the Category 5 licence, as it has a much lower entry barrier and capital requirements. Dozens of CFD brokers have entered the country, securing the Cat 5 licence.However, a handful, including Plus500, Deriv, and RoboMarkets, as well as some local firms, have become full brokers in the UAE. Recently, FXTM also revealed its intention to upgrade its Cat 5 licence to a Cat 1 licence in the country. This article was written by Arnab Shome at www.financemagnates.com.

Global CFD and FX broker iFOREX has appointed Michael Hewson as Senior Market Analyst, adding an experienced market commentator to its research and education team. The move follows Hewson’s long tenure at CMC Markets and his more recent work as an independent analyst and content creator.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)iFOREX Appointment and New ResponsibilitiesiFOREX confirmed that Hewson joins the group with immediate effect in the newly announced role. He will deliver market analysis for clients worldwide and help develop educational content for traders, with a brief that covers major asset classes and macro themes.According to the company, Hewson will support clients as they navigate changing market conditions by providing regular commentary and structured learning materials. His work will sit alongside iFOREX’s existing research output and aims to give users more context around trading decisions.Three Decades in Market AnalysisHewson brings more than 30 years of experience in financial markets, with a focus on both technical and fundamental analysis. He spent over 16 years at CMC Markets, including more than a decade as Chief Market Analyst based in London.Continue reading: iFOREX's 2025 Financials Failed to Impress, but 1.1x Revenue IPO Valuation Is RealisticAt CMC, he led coverage of daily market moves, contributed to product development and appeared frequently in financial media. In recent years, he has also produced independent research and commentary through his MCH Market Insights channels and industry podcasts.iFOREX recently joined the ranks of listed retail trading firms, pricing its long-delayed London IPO at a valuation of about £43.3 million after an oversubscribed placing raised £8.75 million in February 2026. The debut on the Main Market came after months of scrutiny of the broker’s financials, with its prospectus showing largely flat annual revenue of around $49–50 million and EBITDA squeezed to roughly $4 million in 2025.The broker earlier expanded its equity lineup with contracts for difference on Saudi Arabian and South Korean shares, adding exposure to key Middle Eastern and Asian markets. This article was written by Jared Kirui at www.financemagnates.com.

The Commodity Futures Trading Commission (CFTC) has asked a federal court in Arizona to stop the state from using its gambling and criminal laws against federally regulated prediction markets.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)The regulator filed a motion on Wednesday seeking a preliminary injunction and temporary restraining order to block Arizona’s enforcement actions.Federal Regulator Opposes State EnforcementThe filing follows a lawsuit lodged last week by the CFTC and the Department of Justice, challenging Arizona’s efforts to prosecute companies operating under federal oversight. The regulator argues that Arizona’s actions conflict with federal law and could undermine the CFTC’s authority over event-based contracts.“Arizona’s decision to weaponize preempted state criminal law against companies that comply with a comprehensive federal regime sets a dangerous precedent,” said CFTC Chairman Michael Selig. He added that the agency will “vigorously defend its exclusive authority” over prediction markets.The latest development follows the CFTC’s recent filings of lawsuits against Arizona, Connecticut, and Illinois, accusing the states of overstepping their authority by interfering with federally regulated prediction markets. The agency argues that these states unlawfully sought to impose restrictions on designated contract markets (DCMs) approved by the CFTC, in violation of the Commodity Exchange Act (CEA). Selig said the commission will continue to defend its exclusive jurisdiction over event contracts, financial instruments that allow trading on outcomes such as elections or corporate performance, to prevent fragmented oversight and protect market participants from inconsistent state rules.Broader Dispute Over JurisdictionThe lawsuits extend Selig’s campaign to reaffirm federal control over prediction markets, following earlier filings and regulatory clarifications issued by the commission.Continue reading: CFTC Sues Arizona, Connecticut, and Illinois for Overreach on Prediction MarketsThe CFTC maintains that event-based contracts are derivatives under its jurisdiction, not gambling products, and that insider trading laws apply to all such trading activities. Arizona has gone further by pursuing criminal charges, prompting the federal regulator to seek judicial intervention.Under the Commodity Exchange Act, the CFTC holds exclusive authority to regulate event contracts, which include prediction markets. The agency says this federal law preempts state-level efforts to impose overlapping regulation. The outcome of the Arizona case could shape how prediction markets operate across the United States.Earlier, Selig escalated a jurisdictional clash between federal and state regulators over prediction markets, declaring that the U.S. derivatives watchdog, not state authorities, has sole oversight of event contracts. He said the agency has filed an amicus brief to reinforce its “exclusive jurisdiction” over prediction markets, describing these contracts as derivatives subject to federal regulation. This article was written by Jared Kirui at www.financemagnates.com.

dxFeed has launched its Aggregated Overnight Feed. The service delivers a consolidated top-of-book data feed for the U.S. equities overnight trading session.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).The launch may also benefit retail traders who access extended-hours markets through brokers offering pre- and post-market trading. With higher-quality, aggregated data, these participants can view liquidity and prices more clearly during off-hours.The move builds on dxFeed’s earlier integration of MOON ATS and OTC Overnight, which gave brokers and retail traders continuous access to after-hours trading. The expansion supports equities and multi-asset platforms, reflecting growing demand for 24/5 U.S. stock trading, increasingly offered by platforms such as IG, Robinhood, and Webull.Extended-Hours Trading Pushes Demand for Consolidated DataThe latest move comes as extended-hours trading grows beyond a niche, with pre- and post-market volumes approaching 9% of total daily activity. Market participants in Asia and other international markets are increasingly active during overnight hours."The market is moving toward a continuous trading model, but infrastructure has lagged behind—particularly in overnight sessions," said Stepan Bolshakov, Managing Director at dxFeed. "With our Aggregated Overnight Feed, we are closing that gap by delivering a normalized, consolidated view of liquidity across venues."Before this launch, overnight trading faced fragmented liquidity, inconsistent data formats, and limited transparency across venues. dxFeed’s feed is designed to address these issues.dxFeed Consolidates Overnight Liquidity Across ATS VenuesThe new service uses dxFeed's Feed Consolidator Service to aggregate and normalize Level 1 data. This includes quotes, trades, time & sales, and summary data. It consolidates liquidity across overnight venues such as Bruce ATS, Blue Ocean ATS, and Moon ATS.A key feature of the feed is the ability to merge overnight data with regular U.S. trading sessions. This provides a continuous 24/7 data stream with a consistent schema across all sessions. According to dxFeed, this reduces the need for firms to combine multiple feeds, lowering infrastructure complexity and latency risks.Consolidated Data Improves Overnight Market TransparencyThe feed aims to improve price discovery, increase transparency, and support execution strategies during off-hours. It also provides actionable signals and reduces operational overhead for firms relying on consolidated data.Jason Wallach, CEO of Bruce Markets, said that "as overnight trading gains momentum, the industry is beginning to build the infrastructure required to support a fully functioning session." He added that dxFeed has been an early mover in developing consolidated market data for overnight trading, providing participants with improved transparency and consistent data quality as the session matures. This article was written by Tareq Sikder at www.financemagnates.com.

One of the fastest-growing and most liquid contracts on Kalshi has nothing to do with sports or elections. Traders have put more than $30 million into a market asking a single question: will there be more tech layoffs in 2026 than in 2025? That volume already exceeds Kalshi's popular Oscars contract. The market is pricing in an 83% probability that layoffs in the information sector will surpass the 2025 total of 447,000 — and it is starting to function as a real-time sentiment gauge for investors and professionals tracking the labor market impact of AI adoption and corporate restructuring. "I think it's an important market, because people should know and position accordingly," Kalshi CEO Tarek Mansour said on a recent podcast, citing its relevance for both career planning and economic forecasting.Why the Probability is So High The signal reflects conditions on the ground. Industry trackers have recorded roughly 80,000–100,000 tech sector job cuts in Q1 2026, with the pace significantly ahead of early 2025 in many reports.Two trends are driving the wave. First, large companies including Meta, Amazon, and Oracle are framing layoffs as AI-related restructuring, realigning headcount with new product architectures. Second, a growing share of roles is being converted from full-time positions to contract or outsourced work, reducing fixed costs while capital flows toward AI infrastructure. Around 20% of confirmed 2026 tech layoffs have been explicitly attributed by companies to AI adoption.What this Means for Market Participants For the B2B finance audience, the market's emergence matters beyond its headline number. It is generating a form of alternative data with real analytical value. For macro traders, it offers a probability-weighted, real-time read on tech labor market health — something official datasets like FRED reports cannot provide, given their lag. For equity analysts, sustained high layoff probabilities correlate with near-term margin improvement at large tech companies, but also carry longer-term reputational and regulatory risk. For traders focused on data arbitrage, the contract itself has become a venue for trading discrepancies between different sector definitions and data sources. "It's just so interesting to see," said Kalshi COO Luana Lopes Lara, noting the market was growing at "20% week-over-week." The tech layoff contract is an early example of prediction markets moving past event-based wagers into territory previously occupied by proprietary macro indicators — providing a faster, more granular signal than the official data that professionals have relied on for decades. Whether the 83% probability holds or fades as the year progresses is, of course, an open question. This article was written by Tanya Chepkova at www.financemagnates.com.