Scam losses in Australia surged in the first months of 2025, reaching nearly $119 million despite a drop in scam reports. Investment fraud remains a major cause, accounting for more than half of the total losses. Meanwhile, phishing and social media scams continue to evolve, exploiting digital channels to target victims across all age groups.Scam Reports Fall but Financial Losses ClimbAccording to the Australian National Anti-Scam Centre and data from Scamwatch, Australians filed 72,230 scam reports between January and April 2025, a 24% decrease from the previous year. However, the total financial losses reported climbed by 29% to nearly $119 million.Although this spike in losses is significant, it is still nearly 40% lower than the amount lost in early 2023, when scam-related financial damages hit $193 million. This suggests scammers remain active, but victims are losing more per incident.Phishing scams, where fraudsters impersonate trusted government or financial bodies, saw the largest jump in reported financial damage. Losses in this category nearly tripled from $4.6 million in early 2024 to $13.7 million in 2025.Read more: Australia Imposes AU$5,000 Limit on Crypto ATM TransactionsInvestment scams continue to dominate the financial impact of fraud, with Australians losing $59 million in just four months. Although this represents a slight decline of 1.4% compared to last year, it remains the single largest category of scam-related financial losses. Scammers lure victims with promises of high, risk-free returns, making these scams especially dangerous.Financial losses linked to social media scams increased by nearly 50%, with reported cases jumping from 2,232 to 3,336. Monetary losses from social media fraud surged by 30%, reaching $23.4 million.Investment Fraud Keeps Australians on Edge Phone scams, meanwhile, saw an 11% reduction in reports, but still caused the highest losses among contact methods, totaling $25.8 million. This decline suggests some improvement in public awareness, though phone fraud remains a costly threat.Victims aged 65 and older suffered the greatest financial damage, losing $33.1 million in early 2025. Yet, younger adults reported more incidents, particularly those between 25 and 44 years old.This data suggests that while younger people report scams more frequently, older Australians bear a heavier financial burden. Scams are evolving, and Australians must stay alert as fraudsters exploit new digital channels to separate victims from their money. This article was written by Jared Kirui at www.financemagnates.com.

Crypto exchange Kraken introduced a new full-service brokerage solution targeting hedge funds, asset managers, corporates, and other large-scale market participants.Dubbed Kraken Prime, the new platform reportedly consolidates trading, custody, and asset financing into one streamlined interface. The move signals Kraken’s deeper commitment to institutional crypto adoption and positions the firm to compete directly with traditional prime brokers. Backed by 24/7 client service and robust infrastructure, the new platform aims to provide execution quality and operational rigor familiar to traditional finance players.Designed for Institutions at a Pivotal TimeKraken sees an inflection point in the institutional adoption of digital assets. As regulatory clarity increases and market infrastructure evolves, large financial entities are seeking partners that can offer both technical capability and compliance assurance.One of the platform’s standout features is access to liquidity covering over 90% of the digital asset market, sourced from more than 20 global venues.Commenting about the latest move, Kraken co-CEO David Ripley said: “We enter this market with a clear mandate: Deliver execution quality, service depth, and institutional rigor that not only meet but exceed what traditional finance expects. Kraken Prime’s edge lies in prioritizing quality, reliability, and consistency, which are especially critical in volatile markets. We may not be the first to market, but we’re setting the bar for institutional crypto.”You may also like: EC Markets Adds UAE License to Its Global Regulatory Approvals Alongside FCA and ASICKraken Prime uses a smart order routing system to integrate on- and off-platform liquidity, supporting seamless trade execution and minimal slippage, a key priority for large-volume traders.Trades are executed directly from qualified custody accounts managed by Kraken Financial, a state-chartered U.S. bank. This setup enhances operational security and streamlines the post-trade process.Round-the-Clock Support and Credit FacilitiesKraken Prime’s service layer includes high-touch client support available 24/7, a rarity in traditional markets but a necessity in crypto’s always-on trading environment. The platform also enables institutional-grade asset-backed lending and T+1 credit facilities, giving clients more flexibility to manage capital efficiently.Last month, Kraken announced plans to offer tokenized versions of popular U.S. equities. The exchange mentioned that it will list a new suite of tokenized equities dubbed xStocks in partnership with Backed Finance. The assets will reportedly be live on the Solana blockchain and represent actual shares held 1:1 by Backed. The company also acquired NinjaTrader, a prominent U.S. futures trading platform, for $1.5 billion. This article was written by Jared Kirui at www.financemagnates.com.

EC Markets secured a key license that allows it to operate fully in the country’s tightly controlled financial sector. The Securities and Commodities Authority (SCA) of the UAE has issued EC Markets a Category 5 license, which permits the broker to introduce clients, market its services, and provide a range of financial consultations within the country.Regulatory Win in a Tightly Regulated MarketThis development comes as global firms increasingly target the Middle East for its capital inflows and fintech innovation. Operating under SCA oversight places EC Markets in a select category of international brokers with legal backing to function in the UAE. EC Markets already holds licenses from several major jurisdictions, including the UK’s Financial Conduct Authority (FCA), Australia’s ASIC, and South Africa’s FSCA.“Securing the SCA licence is a strategic milestone for EC Markets,” said Matthew Smith, Chairman and CEO of EC Markets. “This approval reflects not only our commitment to the highest standards of compliance but also our ambition to deliver innovative, transparent, and reliable financial services.”Read more: 26 Degrees Adds QuantHouse Cboe One Feed for US CFD Retail Flow and Extended TradingThe addition of the SCA license deepens the firm's regulatory footprint and positions it to respond quickly to client needs across different geographies. The company underwent a rigorous evaluation process for the license, supported by the legal team at Varnavas Playbell & Co. LLC.Middle East Becomes New Focus With its new license, EC Markets joins a growing list of international firms seeking to embed themselves in the Gulf’s evolving financial ecosystem.More brokers have been expanding their services in the Middle East. ICM.com recently obtained its second license in the region. According to the company, ICM MENA, a subsidiary of ICM.com, was given the Securities and Commodities Authority license by the authorities in Dubai.Early this year, EC Markets renewed its exclusive FX partnership with Judd Trump, the preeminent figure in the world of snooker. The extended agreement signified an important step in EC Markets’ effort to elevate its global presence while deepening engagement with key markets, particularly in Asia.“Together, EC Markets and I have accomplished great things. I’m excited to see what new milestones we’ll reach in this chapter of our partnership,” commented Judd Trump. This article was written by Jared Kirui at www.financemagnates.com.

Iress announced that 26 Degrees Global Markets, a multi-asset prime broker, has added the QuantHouse Cboe One Feed to its US equity data coverage. This expands 26 Degrees’ US trading capabilities and enhances its services for retail brokers seeking out-of-hours access to US markets.Cboe One Feed Supports CFD Trading“The integration of the new Cboe One Feed by 26 Degrees enhances its US market data coverage considerably, supporting CFD retail flow and meeting growing investor appetite, particularly in Asia, to trade around the clock.” QuantHouse’s Head of EMEA & APAC Sales and Business Development, Rob Kirby, said.The Cboe One Feed is the latest market data feed from QuantHouse for 26 Degrees, which is based in Sydney. It complements the existing feeds for multi-asset data from trading venues in North America, Europe, and the Asia-Pacific region.You may find it interesting at FinanceMagnates.com: “Over 20% of 26 Degrees’ Brokerage Clients” Are Either Offering or Will Offer Pairs CFDs.26 Degrees Enhances Global Trading CoverageThe addition of the Cboe One Feed aims to support 26 Degrees in delivering solutions to its global clients. It also responds to rising demand for extended market access, especially in Asia. The Cboe One Feed provides consolidated, real-time market data from Cboe’s four US equities exchanges. These exchanges account for 21.2% of on-exchange US equities trading. The feed includes data from the early trading session between 4 a.m. and 7 a.m. Eastern Time, where Cboe holds a 40.5% market share.QuantHouse is expanding its global market data reach and connectivity. The Cboe One Feed adds to existing US equity venues and exchange feeds across Canada, Europe, and the Asia-Pacific regions. This includes Blue Ocean Technologies ATS, which allows global investors to trade US equities outside of New York Eastern Time market hours. This article was written by Tareq Sikder at www.financemagnates.com.

Ripple's US dollar stablecoin, RLUSD, is now officially recognized under the crypto token regime of the Dubai Financial Services Authority (DFSA). The token is described by Ripple as compliant and designed for enterprise use and real-world utility.DFSA Approves RLUSD After XRPThis move expands Ripple’s presence in the Dubai International Financial Centre (DIFC) and adds to the company's activities in the wider UAE market. The recognition of RLUSD comes shortly after the DFSA approved Ripple’s digital asset, XRP, for use within the DIFC.??? Ripple USD is now a recognized crypto token under the DFSA’s regime in Dubai. RLUSD is: ✅ Enterprise-grade✅ Compliant✅ Built for real utilityAnother milestone as we expand our footprint in the DIFC and across the UAE. ? https://t.co/uvNcpRZDRG— Ripple (@Ripple) June 3, 2025You may find it interesting at FinanceMagnates.com: SEC Begins Review of First Spot XRP ETF Bid with WisdomTree Proposal.With this approval, XRP became the first virtual asset to be accepted under the DFSA’s virtual assets regime. Licensed firms operating within the DIFC can now integrate XRP into their products and services.From Global Deals to Trump Meeting, Ripple Stays in SpotlightRipple has been involved in several recent developments. Michael Saylor, Executive Chairman of Strategy, mentioned XRP alongside Bitcoin, Ethereum, Solana, and Cardano in a discussion about including cryptocurrencies in US strategic reserves. He also suggested that XRP should be regulated.Great dinner last night with @realDonaldTrump & @s_alderoty. Strong start to 2025! pic.twitter.com/UjM6lahUG4— Brad Garlinghouse (@bgarlinghouse) January 8, 2025On January 6, Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty met with President Donald Trump. This meeting has led to renewed attention on the SEC’s ongoing case from 2020, which questions whether XRP is an unregistered security.Ripple has expanded its partnerships, including with Revolut and Zero Hash, as it seeks to compete with major stablecoins like USDT and USDC. In Portugal, the company has joined with Unicâmbio to offer instant payments to Brazil using digital assets.In South Korea, BDACS plans to use Ripple Custody to store XRP and RLUSD. Ripple also donated $100,000 worth of XRP to support wildfire relief in California. The company expects Japanese banks to adopt the XRP Ledger for cross-border payments by 2025.? $XRP News: Ripple Whales Buy 520M $XRP Amid Recent Dip, What’s Next❓?https://t.co/5H2QvrqWe2— Crypto News (CoinGape) (@CoinGapeMedia) February 7, 2025In decentralized finance, Ripple is working with Chainlink to bring RLUSD to Ethereum-based platforms. Investor interest in XRP remains, with large holders buying 520 million tokens during a recent price drop. This article was written by Tareq Sikder at www.financemagnates.com.

Coinbase, which revealed last month that it had suffered a customer data leak, was aware of the breach as early as January, according to a report by Reuters. The crypto exchange estimates that the breach could cost up to US$400 million.The San Francisco-headquartered company previously stated that rogue overseas support agents accepted bribes to leak internal documents and data tied to a “small subset” of customer accounts. The attackers also demanded a US$20 million ransom from the exchange, which it refused to pay.India-Based Agent at the CentreThe latest report revealed that an India-based employee of the US outsourcing firm TaskUs was involved in at least one part of the breach. The employee was caught taking photographs of her work computer with her personal phone.The stolen data included names, addresses, emails, account balances, masked bank details, and partial Social Security numbers. Importantly, private keys and passwords were not accessed, and Coinbase confirmed that Prime accounts were unaffected.Coinbase was also notified immediately about the employee’s actions, according to three TaskUs employees and “a person familiar with the matter.”Former TaskUs employees said they were informed by company investigators or colleagues who witnessed the incident in Indore, India. According to them, a woman and an alleged accomplice were suspected of leaking Coinbase customer information to hackers in exchange for bribes.“We immediately reported this activity to the client,” TaskUs said in a statement, without naming Coinbase. “We believe these two individuals were recruited by a much broader, coordinated criminal campaign against this client that also impacted a number of other providers servicing this client.”No More “Ties with the TaskUs Personnel Involved”Coinbase also confirmed to Reuters that it had “cut ties with the TaskUs personnel involved and other overseas agents, and tightened controls.”According to local media reports, TaskUs fired more than 300 employees in a mass layoff in January.Although Coinbase previously blamed “overseas agents” for the breach, it did not name TaskUs or specify India as the overseas location. A recent class action lawsuit filed in a New York court also established the link between TaskUs and the breach and raised questions about when the exchange first became aware of the issue.Meanwhile, the US Department of Justice (DoJ) has launched an investigation into the recent security breach at Coinbase. Additionally, the exchange was recently added to the S&P 500 index and has agreed to acquire crypto options platform Deribit for US$2.9 billion. This article was written by Arnab Shome at www.financemagnates.com.

May was a challenging month for institutional foreign exchange (FX) markets. After a period of relative stability, trading volumes across major platforms, including Cboe, FXSpotStream, TFX, Euronext, and Fastmatch’s 360T, experienced a steep decline compared to the April highs.This downturn surprised many market participants, especially given the unchanged number of trading days compared to previous months. What caused such a dramatic drop in institutional FX volumes? Let's break down the numbers and examine the factors behind this shift.Why Did Institutional FX Volumes Fall?Several factors contributed to the sharp decline in FX trading activity in May 2025. Market volatility remained subdued, with fewer macroeconomic catalysts to spur trading. Uncertainty over central bank policies, particularly from the Federal Reserve and Bank of Japan, led to a “wait-and-see” approach among institutional players. Additionally, the absence of major geopolitical events or economic data releases kept traders on the sidelines, resulting in lower turnover across the board.In April, markets were shaken by Donald Trump’s unexpected trade war rhetoric and threats to impose tariffs on a wide range of countries. The U.S. dollar fell nearly 4.4% against a trade-weighted basket of currencies, its steepest monthly decline in three years, fueling volatility and a surge in trading activity.By contrast, in May, the dollar’s drop was limited to just 0.2%, which led to a notable pullback in institutional FX volumes, as illustrated by the examples below.US Market Activity Hit Multi-Month LowsThe US-based Cboe exchange saw a notable decrease in both total FX volumes and average daily value (ADV) during May. Despite having the same number of trading days as April, Cboe’s total turnover settled at $1.06 trillion, marking the lowest level since February. Daily trading volumes also slipped, reaching just under $48 billion, a three-month low. While these figures may seem discouraging, it’s important to note that year-on-year comparisons remain positive. In May 2024, Cboe’s total FX volume was $971 billion, with an ADV of $42 billion, indicating that the market has grown over the past year, even if the recent monthly trend has been negative.Steepest Decline in JapanThe Tokyo Financial Exchange (TFX) experienced an even more dramatic contraction on its Click 365 FX platform. In May, monthly trading volumes plunged by nearly 37% to 1.43 million contracts, with the average daily volume falling to 65,000 contracts. Compared to the same period last year, this represents a staggering 41% decrease. The USD/JPY currency pair, which remains the core driver of activity on the platform, saw a pronounced drop in trading. Volume for this pair alone fell 32% month-over-month and 20% year-over-year. Across all major traded markets on TFX, there was no month-on-month growth, highlighting the widespread nature of the slowdown.FXSpotStream: First Sub-$100 Billion ADV in MonthsFXSpotStream also reported a significant dip in activity. For the first time since December 2024, its average daily volume (ADV) fell below $100 billion. The total ADV contracted from $122 billion in April to just under $99 billion in May. While other ADV components remained steady at $31 billion, spot ADV saw a more pronounced decline, shrinking from $91.4 billion to $68 billion. This drop underscores the broad-based nature of the slowdown affecting both spot and other FX products.Significant Contraction in EuropeEuronext was not immune to the broader market malaise, with its FX trading volumes experiencing a substantial contraction. In May, total volumes fell to $719.8 billion, down from $893.1 billion reported in April. The average daily volume also decreased, moving from $37.2 billion to $32.7 billion. This decline reflects a general reluctance among institutional players to engage in the market amid low volatility and limited trading catalysts.Moreover, Fastmatch’s 360T platform posted the weakest results among major FX venues in May. Total turnover plummeted to $605.1 billion, a sharp fall from the nearly $871 billion reported the previous month. The average daily volume also suffered, dropping from almost $40 billion in April to just $27.5 billion in May. With volatility at a low ebb and few significant economic or geopolitical events to spur trading, institutions largely chose to remain on the sidelines. This article was written by Damian Chmiel at www.financemagnates.com.

“We paid $1 million to traders last week”: such claims are common in the prop trading industry, and have become a key strategy for creating a sense of authenticity around prop trading brands. However, how can anyone verify these bold statements?Technically trader-funded firms, these platforms pay traders and vendors both in fiat and crypto. Although crypto payments bring a level of transparency, FinanceMagnates.com understands that many prop firms even include vendor costs and other expenses in their payout claims to inflate the figure.No Way to Verify Payout ClaimsProp trading firms are not financial services providers, meaning they do not come under heavy regulatory scrutiny like forex and contracts for differences (CFDs) brokers. They operate like any regular eCommerce platform: they sell challenges, and buyers trade in a simulated environment; if they succeed they are entitled to payouts.They are not required to report any data, unlike CFD brokers, who must report the percentage of retail clients who lose funds, among other data points.You may also like: Regulators Conducted Preliminary Reviews on Potential Prop Trading RegulationsThese companies only have to report to business registries, depending on their jurisdiction. However, the reporting requirements are not as thorough as those of financial regulators. Companies can often get away with disclosing only their income statement and assets.Some prop firms do share there payout details in their annual financial disclosures, but the number of such business are less.Most of such platforms—mainly smaller or medium-sized ones—regularly make large payout claims. However, there is no way to verify them. Although there are claims by individual traders and finfluencers of receiving payouts from these platforms, they cannot be verified by a third-party. Many prop firms even made claims of millions in payouts, but then suddenly shut their business overnight.When it comes to profitable prop traders, the margin is also thin. According to FPFX Tech's data, only 7 per cent manage to turn a profit. Among those who do succeed, the average earnings are modest: just 4 per cent of their allocated capital.One prop firm FinanceMagnates.com talked to highlighted it does not post any payout claims as there’s no way to fact-check that figure by a third-party. They simply preferto stay out on the game. If at some point some of its competitor props claim much higher payouts, it would look like a much smaller prop firm, although in reality it might be a much bigger firm than the competition. Inflated Payout ClaimsWhile fiat transactions remain difficult to trace for non-governmental organisations, the scenario is different for crypto payments. Many prop trading firms also make their payouts in cryptocurrencies, enabling dedicated websites to track these transactions.One such platform is Payout Junction, which tracks payouts made by prop trading platforms through Riseworks.io. A glance at the website shows that many prop firms pay out millions each month. However, there is a catch.“Firms may also pay out via additional methods and use their Rise wallets for other operating expenses, not solely for trader payouts,” a footnote on Payout Junction’s website mentions, adding that the prop firm "listings [on its website] are not endorsements."Although blockchain-based payments through Rise are transparent and can be tracked, there is a strong chance that these numbers are inflated with salaries and other operational costs.You may also like: Your Prop Trading Account Hangs on InfusionOne top prop firm also highlighted this issue to FinanceMagnates.com, stating that “several platforms inflate their payout figures.” It added that because of these loopholes, it becomes difficult for it to disclose payout figures.Concerns about accurate payout reporting are also a talking point among many industry experts. Many believe this should be one of the parameters prop firms must disclose to regulators if the industry becomes regulated. This article was written by Arnab Shome at www.financemagnates.com.

Spotware, the award-winning developer of cTrader platform, is pleased to announce its attendance at iFX Expo International 2025, taking place in Limassol from 17th - 19th June. This year’s event marks a major milestone - 15 years of delivering reliable, cutting-edge trading technology tailored to the needs of brokers, prop firms and traders across the globe.A key highlight of this year’s showcase is the launch of WebView plugins, an exciting new feature that empowers brokers and traders to embed custom web content, from AI assistants and market insights to trading tools, directly within the cTrader platform. This enables a seamless, fully branded experience for users and opens new possibilities for broker differentiation.Attendees can connect with the Spotware team at Booth #60 to explore all the latest innovations. Alongside WebView plugins, we’ll also be unveiling cTrader Invite, a fully integrated referral management tool with automated IB registration and advanced analytics, and the ever-expanding cTrader Store, where brokers, IBs and developers can monetise cBots, indicators and plugins while offering traders instant access to premium tools.These updates reflect Spotware’s ongoing commitment to innovation and empowering the trading community, making a visit to our booth truly worthwhile.WebView plugins: personalisation meets integrationDiscover Spotware’s latest innovation: In addition to traditional plugins available on desktop, a new category, WebView plugins, offer even greater possibilities. WebView plugins are a powerful tool that lets brokers integrate custom web content directly into the cTrader platform across desktop, web and mobile. By developing and publishing exclusive WebView plugins in the cTrader Store, brokers can turn these tools into high-impact lead magnets that boost engagement and attract new traders. At the same time, individual traders can create, share and publish their plugins, and monetise them in cTrader Store, fostering community-driven innovation and a more dynamic ecosystem. Whether it’s AI-powered assistants, real-time dashboards, or custom newsfeeds, WebView plugins make it easy to enrich the user experience with a wide range of web-based tools. Designed for both branding and flexibility, these plugins let you extend the functionality or custom features according to specific requirements. Whether you’re enhancing the mobile app or embedding proprietary content, WebView plugins reinforce cTrader’s position as the Open Trading Platform™.Creating a plugin is simple - just build a web service that connects to the cTrader backend via the dedicated API. No advanced coding required. Once installed, the plugin syncs across all cTrader apps via Cloud.cTrader Store is rapidly evolving and 2025 will be a milestone year with some major updates ahead. Be sure to visit our booth to see how WebView plugins can be deployed across your platform!cTrader Invite: Supercharge trader acquisition with new capabilitiesNot to be missed is cTrader Invite, an essential tool for IBs and brokers looking to optimise their referral programs. cTrader Invite enables IBs to share personalised invite links and track referral performance with detailed analytics, all within the cTrader platform. In its latest significant update, cTrader Invite is now more deeply integrated into brokers’ referral programs. It delivers a transformative enhancement to cTrader Invite by providing full referral-program integration, automated IB registration and streamlined attribution. These enhancements empower brokers to drive growth through smarter, more efficient partner networks.Whether you’re looking to grow your IB community, improve tracking accuracy or deliver a frictionless onboarding experience, cTrader Invite is a vital component of any modern partnership strategy. Visit our booth to see it in action and learn how it can elevate your acquisition efforts.Monetise cBots, indicators and plugins on cTrader StorecTrader Store connects IBs and developers with millions of traders via a growing marketplace of cBots, indicators and plugins. Through this ever-expanding ecosystem, users can showcase and monetise their custom cBots, indicators and plugins, turning innovation into opportunity.With features like built-in licencing, secure transactions and easy integration into the cTrader platform, cTrader Store simplifies the process of commercialising trading tools while ensuring a smooth experience for both sellers and buyers. It’s an ideal solution for increasing visibility, driving trading volume and enhancing trader engagement with ready-to-use, high-performance tools.Visit our booth to explore the full potential of cTrader Store and see how you can turn your tools into revenue-generating assets.UF Awards - Best Trading Platform 2025 nominationFinally, cTrader has been nominated for the UF Awards Best Trading Platform 2025. The UF Awards recognise top B2B brands in the online trading and fintech space. These prestigious awards aim to provide traders and businesses with an industry benchmark of the best companies to trade and do business with. This nomination reflects our ongoing dedication to transparency, performance and delivering world-class trading technology. Meet Spotware at iFX EXPO International 2025Don’t miss the chance to discover how Spotware’s advanced trading technology can boost your brokerage’s growth in 2025 and beyond.Visit us at Booth #60. Book a meeting now. We look forward to seeing you in Limassol and celebrating the future of trading together!About cTradercTrader is a multi-asset FX/CFD trading platform by Spotware, built on Traders First™ principles to serve traders, brokers and prop firms with cutting-edge features and lightning-fast execution. With advanced native charts, built-in social trading, free cloud execution for trading algorithms, cTrader delivers a powerful, premium trading experience. As an Open Trading Platform™, 100+ third-party integrations via APIs and plugins are on offer. cTrader Store allows developers to monetise trading algorithms and reach over 8 million traders, while helping brokers grow through IB-focused solutions and seamless onboarding. This article was written by FM Contributors at www.financemagnates.com.

Investimental, a Romanian brokerage authorized to trade on the Bucharest Stock Exchange (BVB), has expanded its trading platform to include European Union stocks. The move, made possible through its ongoing collaboration with trading technology provider Devexperts, allows Investimental’s clients to buy and sell shares listed on major European exchanges such as Germany’s Xetra and France’s Euronext Paris.Investimental Expands Trading Platform to Include EU Equities via Devexperts’ DXtradeThis expansion follows Investimental’s 2024 introduction of US market trading for Romanian retail investors, also delivered via Devexperts’ DXtrade platform. With the addition of EU equities, Investimental now provides access to Romanian, US, and European stock markets, offering broader diversification options for its users.“Adding EU equities to our offering is a natural next step in our commitment to making investing more accessible and rewarding for Romanian traders,” said Adrian Ciocan, CTO of Investimental. “By working with Devexperts and building on the flexibility of DXtrade, we’re able to offer a platform that meets the needs of both first-time investors and those looking to diversify across multiple markets—all in a seamless experience.”Investors can access the new EU equities through DXtrade’s multi-asset platform, available both on the web and as a mobile app for iOS and Android. The platform supports whole share, fractional, and notional trading, and features real-time quotes, customizable layouts, and a market heatmap for tracking price movements. For brokers, DXtrade includes operational tools such as real-time monitoring of client positions and margin allocations through its “Web Broker” console.“Our work with Investimental reflects our focus on supporting clients as they grow and adapt their trading software,” Vitaly Kudinov, Senior Vice President at Devexperts, added. “We are pleased to support Investimental in this expansion and look forward to our continued collaboration.”Investimental, the first Romanian broker in over 15 years to be authorized for trading on the BVB, has positioned itself as a gateway for local investors to access both domestic and international markets. The company also offers educational resources through its InvestiMentor program, aiming to help investors of all experience levels make informed decisions.EU equities are available to Investimental clients effective immediately.Devexperts and DXTrade UpdatesThe trading platform provider has introduced another update in a series of recent developments. Last week, capital markets software firm Devexperts announced a partnership with AI investment intelligence company BridgeWise to expand the analytical capabilities of its trading assistant.In April, proprietary trading firm Prop Firm For Traders integrated futures trading into its simulated environment through a collaboration with Devexperts' DXtrade platform.Meanwhile, Devexperts also announced a partnership between its DXtrade system and Dubai-based neobroker and liquidity provider amana. This followed the release of a new community feature for Devexperts’ AI trading assistant, Devexa, which enables brokers to create secure in-platform social spaces for traders, minimizing reliance on external communication tools such as Discord or Telegram. This article was written by Damian Chmiel at www.financemagnates.com.

Amid Trump administration tariff tensions, CFD platform Mitrade announced accelerated German expansion following DAX’s outperformance of European markets. The German benchmark recently surpassed its March peak at 23,499.32 despite EU tariffs concerns, according to Bloomberg. Market conditions remain uncertain following the January suspension of Russian natural gas flows via Ukraine. Elevated natural gas prices and fluctuating crude oil prices driven by ongoing developments in Ukraine continue to increase volatility across European markets. This energy landscape, combined with DAX price movements, appears to be increasing German investors’ engagement in markets, as traders become more active in short-term trading.“Germany’s industrial strength remains a steady force despite persistent macroeconomic headwinds, as traders seem to be adapting to the shifting landscape of DAX and crude oil markets. In response to EU tariffs, market volatility, and broader geopolitical dynamics, Mitrade is deepening its presence in Germany to better support and empower our European trading community,” said Kevin Lai, Vice President of Mitrade Group.“We believe that democratising access to financial markets fosters a more resilient and inclusive trading ecosystem. As a retail broker serving global traders, we aim to equip both modest and high-capital participants with the flexible leverage, tools and insights needed to navigate volatile markets and make informed decisions.”The global brand was recently recognised as the Most Reliable Broker Europe 2025 by World Business Outlook. Listed on BaFin as a cross-border service provider, Mitrade EU Ltd offers localised German support, educational resources, and payment methods for German traders, reflecting its commitment to the region's growing financial technology ecosystem. About MitradeMitrade EU Ltd is an award-winning CFD trading platform licensed by CySEC (CIF438/23), and part of a group of entities that are regulated by ASIC, CIMA, and FSC. The brand democratises global market access, connecting 5M+ traders to CFDs on indices, forex, commodities, ETFs, and shares. Powered by AI-driven technology, Mitrade offers microsecond execution, competitive spreads, advanced risk mitigation, and multi-device compatibility, ensuring an intuitive trading experience tailored to investors. CFDs are complex instruments and entail a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Visit https://www.mitrade.eu/ for more information. This article was written by FM Contributors at www.financemagnates.com.

TMGM, a global leader in online trading and investment services, was one of the official partners of the prestigious end-of-season CFC Awards 2025 ceremony. The glittering event at London's iconic Grosvenor House on May 4 brought together Chelsea's Men's, Women's, and Academy teams to celebrate outstanding achievements throughout the 2024-25 season.As Chelsea FC's Official Regional Online Forex and Trading Partner in the Asia-Pacific region, the awards ceremony marked another milestone in the thriving multi-year partnership between the two organizations. The collaboration began in 2023 and was recently extended and continues to create meaningful connections between premium trading services and elite football.TMGM's presence at the awards ceremony marks another milestone in the thriving multiyear partnership between the two organizations. "We were honored to be an official partner of the Player of the Year Awards at this year's ceremony," said Nick Yang, Chief Commercial Officer at TMGM. Our partnership with Chelsea FC represents a perfect alignment of values. Both organizations are committed to excellence, innovation, and delivering world-class performance. The celebration of talent and achievement perfectly embodies what TMGM stands for in the trading world."The CFC Awards 2025 followed an extraordinary day for Chelsea FC, shortly after their impressive 3-1 victory over Premier League champions Liverpool at Stamford Bridge earlier that day. The match featured standout performances from several players, including Cole Palmer, whose exceptional form contributed significantly to the win. The talented midfielder played a key role in Chelsea's opening goal alongside Romeo Lavia and Pedro Neto, setting up Enzo Fernandez's finish.The evening saw Chelsea's stars trade their football kits for elegant suits as they gathered to celebrate the season's achievements. Midfielder Moises Caicedo was crowned Men's Player of the Season in recognition of his outstanding performances throughout the campaign. As noted in Chelsea's official awards coverage, Caicedo was "the clear and only player worthy of winning Chelsea Men's Player of the Season this year." Meanwhile, promising youngster Tyrique George was named Academy Player of the Season following his impressive breakthrough year.Midfielder Moises Caicedo was crowned Men's Player of the Season. TMGM's involvement with the CFC Awards reinforces the company's commitment to recognizing excellence and supporting Chelsea's continued success across all club levels."We have an ongoing commitment to creating premium experiences that transcend traditional partnerships," added Nick Yang. "Just as Chelsea FC competes at the highest level of world football, TMGM equips its clients with the tools and knowledge to perform at the peak of the trading world."TMGM has a history of providing exclusive experiences for clients and Chelsea fans throughout the Asia-Pacific region. On May 6, following the awards ceremony, TMGM hosted VIP clients at Chelsea's Cobham Training Centre, offering unprecedented access to watch training sessions and meet players.As the 2024-25 season concludes, TMGM looks forward to continuing its support of Chelsea FC and creating additional exciting opportunities for fans and clients alike.About TMGMTMGM is a leading global provider of online trading and investment services. With a strong focus on regulatory compliance, technological innovation, and exceptional customer service, TMGM empowers traders to access global markets and achieve their financial goals in a secure and user-friendly trading environment. TMGM proudly empowers investors to manage their investment portfolios. It combines CFD trading opportunities across asset classes: Forex, Shares, Precious Metals, Energies, and Indices. TMGM is a reliable CFD trading provider with offices on three continents and a monthly turnover of over US$374 billion. For more information, visit https://www.tmgm.com.About Chelsea Football ClubChelsea Football Club is one of the top football clubs globally. The men’s team was crowned FIFA Club World Cup champions in 2021, defeating Brazilian side Palmeiras in the final held in Abu Dhabi in 2022 due to pandemic-related delays. That success followed winning the UEFA Champions League for a second time in 2021, with a victory over Manchester City in Porto.Founded in 1905, Chelsea is London’s most central football club, based at the iconic 40,000-capacity Stamford Bridge stadium. Nicknamed the Blues, the club lifted the Champions League for the first time in 2012 and has also won the Premier League five times, the FA Cup eight times, the Football League Cup five times, the UEFA Europa League twice, the UEFA Cup Winners’ Cup twice, the UEFA Super Cup twice and the Football League Championship once, in 1955.The 2021 Champions League and Super Cup triumphs ensured Chelsea became the first club to win four major UEFA competitions twice, following their earlier successes in those two competitions and the Europa League and Cup Winners’ Cup. Having added the UEFA Conference League in 2025 when Real Betis were beaten in the final, the Blues are the only club to have won all the current UEFA club competitions.The Chelsea Women’s team has enjoyed considerable success. In 2025, it won the FA Women’s Super League for the sixth consecutive year and the eighth time overall. Chelsea has won the Women’s FA Cup on six occasions. Chelsea has also captured the FA Women’s League Cup thrice and reached the UEFA Women’s Champions League final in 2021. A domestic treble of trophies was secured in the 2020/21 and 2024/25 seasons. In addition to possessing some of the world’s most recognizable players, Chelsea has invested in their future with a state-of-the-art Academy and training centre in Cobham, Surrey. Since the Academy building’s opening in 2008, the club has won seven FA Youth Cups, back-to-back UEFA Youth League titles in 2015 and 2016, and the U23 and U18 Premier League national championships, most recently in 2019/20 and 2017/18, respectively.The Chelsea Foundation boasts one of the most extensive community initiatives in sport, helping to improve the lives of children and young people worldwide. This article was written by FM Contributors at www.financemagnates.com.

Retail traders are once again asking, why is crypto going up today? The answer is a potent mix of macroeconomic shifts, renewed institutional inflows, and technical momentum. On Tuesday, June 3, 2025, the Bitcoin (BTC) price, Ethereum (ETH) price, XRP price, and Dogecoin (DOGE) price have all staged impressive comebacks, defying global uncertainty and a wave of liquidations. Bitcoin is holding around $105,000, Ethereum is trending near $2,600, XRP is testing $2.20 resistance, and Dogecoin sets intraday high above $0.20. But is this rally sustainable, or just another head fake? Let’s break down the current action, key drivers, and the newest price predictions for these top cryptocurrencies, while answering the question: why is crypto going up today?Bitcoin Price Analysis: Resilience Above $105,000The Bitcoin price has become a symbol of resilience in early June 2025. After a turbulent weekend that saw nearly $1 billion in liquidations, Bitcoin rebounded sharply, climbing over 3% in just four days and peaking at $106,560 on Tuesday.Just last Friday, I wrote about four consecutive days of declines for Bitcoin and the broader crypto market. Now, we’re seeing a reversal, four straight days of gains. They may be modest, but they’re gains nonetheless.At the time of writing, Bitcoin is trading at $105,453. This recovery is largely attributed to continued whale accumulation, as on-chain data reveals that large holders are buying the dip, a classic bullish signal that often precedes further gains.On the macro front, geopolitical tensions and looming policy deadlines are driving traders toward Bitcoin as a hedge against uncertainty. Despite hints of fatigue in technical indicators, with some analysts warning of a possible cooling-off period, Bitcoin’s elevated trading volumes and persistent interest have kept it at the top of the crypto pecking order. According to my technical analysis, I expect Bitcoin to consolidate between $103,000 and $108,000 in the short term, with $100,000 acting as a critical support level. If this support fails, downside targets near $97,000–$93,000 may come into play. On the upside, forecasts for June 2025 suggest a potential high of $137K, with some long-term models predicting Bitcoin could reach even $400,000 by 2030. Options traders are betting on wild moves, with some eyeing a $300,000 Bitcoin by late June, but most experts see $120,000–$137,000 as more realistic near-term targets.“This price action reflects a highly sentiment-driven, fragile market where sudden pumps can quickly fade,” said Dr. Kirill Kretov from CoinPanel. “It’s not surprising given the current macro uncertainty and liquidity conditions. Interestingly, I might have expected BNB and SOL to switch places on these charts, considering their respective technical developments but clearly market perception doesn’t always align with fundamentals.” “Overall, this environment is characterized by noise, not trend,” Kretov added. “The charts speak for themselves: plenty of volatility, but no clear direction.”Ethereum Price: Bullish Momentum, But Resistance LoomsEthereum price has been riding a wave of optimism, surging over 7% since Saturday and testing $2,650.83 before settling near $2,615.89 at press time. This rally has been fueled by internal restructuring at the Ethereum Foundation and growing excitement over upcoming protocol upgrades. The Foundation’s renewed focus on protocol development has injected fresh energy into the Ethereum ecosystem, attracting both institutional and retail interest.Speculation around a possible Ethereum ETF approval has also played a significant role in driving demand, as traders anticipate a flood of new capital entering the market. Technically, Ethereum is trading above key moving averages, with momentum indicators suggesting further upside if the price can decisively break above the $2,810 resistance level. However, repeated rejections and long upper wicks around this area indicate some hesitation among traders. If bullish momentum revives, analysts expect Ethereum to reclaim the $2,800–$2,900 zone in June 2025. Looking further ahead, some bold predictions see Ethereum reaching $11K, but the consensus among experts is a range of $3,000–$6,500. XRP Price: Ready for a Breakout?XRP price is quietly building pressure, consolidating above $2.19 after bouncing nearly 7% from weekend lows. The token hit an intraday high of $2,2229 on Tuesday, marking four consecutive days of gains. What’s driving this move is a surge in speculative activity, as open interest in XRP derivatives has ballooned to nearly $5 billion. This intense positioning suggests that traders are bracing for a decisive move, with the potential for a short squeeze if bullish momentum takes hold.Historically, similar setups in XRP have resulted in rapid rallies, catching short sellers off guard and triggering sharp price spikes. However, the direction of the next big move remains uncertain, as elevated open interest can also amplify volatility in either direction. Without a clear catalyst, such as a major development on the XRP Ledger or news of an ETF approval, traders are at risk of large-scale liquidations if sentiment turns sour. Some analysts predict a possible surge to $8 if key catalysts align, though this is considered highly speculative. For now, the market is closely watching for any fundamental news that could trigger the next breakout.Dogecoin Price Is Going Up: Volatility ReturnsDogecoin price is once again in the spotlight, testing an intraday high of $0.2013 after three straight sessions of gains. DOGE is currently trading at $0.1961, up nearly 3% from the weekend levels. This latest rally is part of a broader market rotation, as traders often move profits from Bitcoin and Ethereum into meme coins like Dogecoin when the majors are rallying. The technical setup is also supportive, with expanding Bollinger Bands hinting at the potential for a larger move.Dogecoin’s price action is notoriously volatile, with sharp swings driven by both retail enthusiasm and sudden shifts in sentiment. Forecasts for the summer months suggest Dogecoin could hover between $0.191 and $0.223, with upside capped unless the $0.2310 resistance is reclaimed. If DOGE can break and hold above $0.2100, a run toward $0.2310 is on the table. Conversely, failure to hold $0.1900 could see a slide toward $0.17. As always, Dogecoin remains a high-risk, high-reward play, favored by traders looking for quick gains.Why Is Crypto Up Today? Key Drivers for June 2025So, why is crypto up across the board? The rally is being driven by a combination of institutional adoption, macroeconomic events, ETF speculation, technical momentum, and network upgrades.Institutional Adoption: Large financial institutions, hedge funds, and public companies are investing heavily in Bitcoin, Ethereum, and other cryptocurrencies. This influx of institutional capital not only boosts demand but also lends legitimacy to the market, attracting even more participants and driving prices higher.ETF Approvals and Mainstream Integration: The approval and rapid growth of spot Bitcoin and Ethereum ETFs have made it easier for both retail and institutional investors to gain exposure to crypto. These ETFs have seen record inflows, with products like BlackRock’s Bitcoin ETF becoming the fastest-growing in history. This mainstream integration has significantly increased demand and price stability.Regulatory Clarity: Clearer regulations in the US, EU, and Asia, such as the EU’s MiCA framework and pro-crypto policies from the Trump administratios, have reduced uncertainty and boosted investor confidence. Regulatory advancements, including the rescinding of restrictive rules and the appointment of crypto-friendly officials, are making the environment more attractive for investment.Global Economic Factors: Concerns over inflation, currency devaluation, and uncertain monetary policies are prompting investors to view crypto as a hedge and a store of value. Rising debt levels and macroeconomic instability are pushing both individuals and institutions toward digital assets.Crypto Market Outlook and Price Predictions 2025The crypto market in 2025 is defined by strong momentum, institutional inflows, and bullish sentiment, with Bitcoin, Ethereum, and XRP all in the spotlight for their technical setups and headline-grabbing forecasts.The consensus among major financial institutions and crypto experts is that Bitcoin could reach anywhere from $120,000 to $200,000 by the end of 2025. Standard Chartered projects a potential $200,000 and VanEck suggests a cycle apex near $180,000. More conservative models see an average year-end price around $135,000, while the most bullish forecasts eye $250,000 if demand outpaces supply.Looking ahead, conservative estimates for Ethereum in 2025 range from $4,900 to $5,950, with some aggressive forecasts suggesting a potential rally to $12,000 if institutional adoption and network upgrades accelerate. The derivatives market is also signaling bullish sentiment, with call options overwhelmingly outnumbering puts and open interest at all-time highs. This technical and fundamental setup suggests Ethereum could outpace Bitcoin in percentage gains if current trends persist.Several experts now predict that XRP could reach $4.50 by mid-2025, with some calling for a conservative $8–$10 price target by year-end if ETF approval and institutional adoption materialize. The most bullish scenarios, driven by a potential U.S. spot XRP ETF and a shrinking circulating supply, see XRP’s price possibly surging to $17 or even $25–$26 in the coming years if its market cap approaches $1 trillion or more. Crypto 2025 Price Predictions TableThe 2025 crypto market outlook is defined by optimism, but also by volatility and the need for traders to monitor key resistance zones and macro catalysts. Institutional flows, ETF approvals, and technical breakouts are likely to set the pace for the rest of the year.Crypto News, FAQWhy is crypto rising?Crypto is rising due to a combination of macroeconomic, institutional, and technical factors. Easing trade tensions between major economies like the US and China have reduced global uncertainty, while downgrades to the US debt rating have pushed investors toward alternative assets such as Bitcoin. Additionally, the US Dollar Index has been trending down, making crypto more attractive as a store of value.Why crypto went up today?Today’s crypto rally is being driven by Bitcoin breaking through a new all-time high, which has lifted sentiment across the entire market. The surge is further supported by positive macro developments, such as easing trade tensions and expectations of Federal Reserve rate cuts, which have improved risk appetite. Can bitcoin reach $200,000 in 2025?Yes, Bitcoin reaching $200,000 in 2025 is considered possible by several leading analysts and institutions. Standard Chartered, Fundstrat, VanEck, and prominent market commentators have all issued forecasts in the $180,000–$250,000 range for 2025, citing factors like institutional adoption, spot ETF inflows, and historical market cycles. Quantitative models, such as the Bitcoin “power law,” also support the possibility of a $200,000 target by late 2025. However, while the outlook is bullish, these projections depend on continued demand, stable macro conditions, and no major regulatory shocks.Can you make $100 a day with crypto?It is possible to make $100 a day trading crypto, especially with sufficient starting capital (often $2,500 or more), a disciplined strategy, and a focus on high-volume, volatile coins. Successful traders use techniques like day trading, scalping, and swing trading, combined with strict risk management and stop-losses. However, it’s important to note that consistent daily profits are challenging to maintain due to the crypto market’s inherent volatility and risk. This article was written by Damian Chmiel at www.financemagnates.com.

Finance Magnates Intelligence has released its June 2025 Compliance Report, covering the most important regulatory updates that compliance teams and financial firms need to be aware of.The June edition takes a closer look at the following topics:? MiCA Guidelines from ESMAThe European Securities and Markets Authority (ESMA) has shared guidance to help national regulators prevent market abuse under the new crypto law known as MiCA. The advice is based on earlier rules and aims to bring more structure to how crypto markets are watched and managed. It also advocates for a more unified approach across EU countries, as crypto trading often crosses borders and spreads rapidly online.? EU Capital Markets: Fixing the Gaps The European Commission is moving forward with a stronger Capital Market Union. A new consultation aims to address issues such as differing national regulations and a lack of cooperation among European Union (EU) regulators. The goal is to build a more stable and connected market that supports long-term investment across Europe.? UK’s New Crypto Rules This edition also examines the UK’s growing focus on crypto regulations, including the FCA’s latest proposal for a more robust framework. With numerous firms now offering digital assets, the UK is striving to catch up, protect users, and support growth.? Other Regulator Updates You’ll also find the latest compliance alerts from key regulators worldwide, all compiled in one place to help you stay informed about what’s changing.Who Should Read This Compliance Report? This report is excellent for anyone working with compliance or risk inside their company. Whether you're part of a compliance team, a legal advisor, or a business leader, the information here will help you understand what’s going on and make better decisions.? Download the June Compliance Report nowFrequently Asked Questions1. Who is this report for? It’s tailored for compliance professionals, financial service providers, digital asset firms, and regulatory analysts.2. Is the report free? Yes, it is completely free and downloadable without cost.3. How can I stay informed of future editions? You can subscribe to the Finance Magnates Intelligence newsletter? Download the June Compliance Report now This article was written by Finance Magnates Staff at www.financemagnates.com.

Germany’s Federal Financial Supervisory Authority (BaFin) has issued a warning to consumers about a series of nearly identical online platforms that claim to offer automated trading of financial instruments using artificial intelligence (AI). According to BaFin, these websites are operating without the necessary regulatory approval and may pose significant risks to investors.German Regulator BaFin Warns Public About 20 Unlicensed AI Investment PlatformsThe regulator reports that the flagged platforms advertise AI-driven trading services with a minimum investment requirement of 250 euros. None of the websites provide clear information about their operators or a legal notice, and none are supervised by BaFin. The authority has identified at least 20 such websites, including geldgrix.de, immedintax.xyz, beraventex.org, invexorix.de, and several others.“We urge the public to exercise extreme caution with online investment offers, especially those that promise automated trading or unusually high returns. Always check the legitimacy of providers before investing,” BaFin commented in the warning.Artificial intelligence is playing an increasingly prominent role in the world of retail trading. On one hand, it’s being used to enhance services offered to traders; on the other, it introduces new risks to the financial ecosystem.You may also like: BaFin Reports 74% of German Retail Turbo Traders Lost Money, €3.4B GoneAI Risks in Retail TradingAt the beginning of last year, AI-generated explicit images of Taylor Swift spread rapidly across the internet. While initially seen as a privacy issue for celebrities, the incident highlighted broader concerns about deepfake technology, particularly its potential to undermine identity verification in sectors like banking and trading. These hyper-realistic forgeries could convincingly impersonate real individuals, posing a serious threat to the integrity of financial institutions' onboarding and compliance procedures.In a digital world where many retail investors trust online influencers more than their families or certified financial advisors, the possibility of deepfakes impersonating figures like Elon Musk or local “finfluencers” has become more alarming than ever.Earlier last year, the U.S. Commodity Futures Trading Commission (CFTC) also flagged the growing use of AI in fraudulent investment schemes. Many of these scams involve self-learning trading bots that promise unrealistically high returns. More recently, the commission emphasized that AI applications in trading should be subject to regulation and fall under existing legal frameworks.In related news: Crypto Young Investors: BaFin Study Reveals over 50% Trust Social Media and FinfluencersBaFin PowersUnder German law, any entity offering financial or investment services must obtain a license from BaFin. The regulator emphasizes that operating without such authorization is illegal. Consumers can verify whether a company is licensed by consulting BaFin’s official company database.BaFin’s warnings are based on Section 37 (4) of the German Banking Act, which empowers the authority to alert the public about unauthorized financial service providers. The regulator, along with the Federal Criminal Police Office (BKA) and state criminal police offices, strongly advises consumers to be vigilant when considering online investments. They recommend thorough research to identify potential fraud before making any financial commitments. This article was written by Damian Chmiel at www.financemagnates.com.

Australian FX and CFD brokers holding Australian Financial Services (AFS) licenses are under renewed pressure from the Australian Securities and Investments Commission (ASIC) to ensure all information on the Financial Advisers Register (FAR) is accurate and up to date, as the regulator intensifies its oversight ahead of the January 2026 qualifications deadline.ASIC Presses FX/CFD Brokers on Adviser Register Accuracy Ahead of 2026 DeadlineASIC’s latest review of the Financial Advisers Register revealed persistent inaccuracies in the way AFS licensees report adviser qualifications, particularly concerning the eligibility of advisers using the experienced provider pathway and the completion status of required courses. These findings come as the sector approaches a critical compliance milestone: from January 1, 2026, all relevant providers must meet the prescribed qualifications standard to continue offering personal advice to retail clients.As of May 28, 2025, ASIC data shows that out of 15,610 relevant providers, 6,426 have an approved degree or qualification, and 4,580 rely on the experienced provider pathway. However, 4,604 advisers have yet to meet the qualifications standard, with 1,844 potentially eligible for the experienced provider pathway but not yet formally notified to ASIC by their licensees.You may also like: ASIC Finds $1 Trillion in Funds Lack Proper OversightWhat Is the Financial Advisers Register (FAR)?FAR is an official, public database maintained by the ASIC. It lists all individuals, known as “relevant providers”, who are authorized to provide personal financial advice to retail clients on investments, superannuation, and life insurance in Australia, including FX and CFD brokers. The register is published on the Moneysmart website and is designed to help consumers, employers, and regulators verify the credentials and status of financial advisers.Employers and industry participants use the FAR to verify the credentials of advisers they may wish to hire or partner with, ensuring only qualified individuals are authorized to give advice.Australia's related news: Australia Imposes AU$5,000 Limit on Crypto ATM TransactionsFX/CFD Brokers Must ActFor FX and CFD brokers, the implications are clear. Any errors or delays in updating adviser details, including qualifications, authorisation history, and eligibility for tax (financial) advice services, could result in compliance breaches. ASIC has warned that knowingly submitting false or misleading information, or failing to update records within 30 business days of a change, constitutes a serious offence.AFS licensees are reminded to verify the eligibility of advisers claiming the experienced provider pathway, which is available to those with at least 10 years’ cumulative experience as a relevant provider between January 2007 and December 2021, a clean disciplinary record, and who have passed the financial adviser exam by the required dates. The regulator has also provided a temporary dataset to assist licensees in checking advisers’ capacity to provide tax (financial) advice services and their qualification status. Any discrepancies must be corrected promptly through ASIC’s online system.New Compliance Program in 2026From January 2026, ASIC will launch a compliance program relying on the Financial Advisers Register to assess whether advisers remain authorized. Brokers are advised to focus reviews on qualifications, authorization history, and contact details, ensuring that only approved courses and completed qualifications are marked as meeting the standard.Failure to comply with these requirements could expose FX and CFD brokers to regulatory action, including penalties for authorizing advisers who are not properly registered or qualified.In February, ASIC proposed easing certain mandatory reporting obligations for regulated entities, including domestic brokers that offer CFDs. This article was written by Damian Chmiel at www.financemagnates.com.

Australia’s national financial intelligence agency has introduced new rules concerning cryptocurrency ATMs, which include setting cash deposit and withdrawal limits of AU$5,000 (around US$3,250).Restrictions on Crypto ATM OperatorsIn an announcement today (Tuesday), the Australian Transaction Reports and Analysis Centre (AUSTRAC) explained that there will be enhanced customer due diligence requirements, mandatory scam warnings, and obligations for stronger transaction monitoring.While AUSTRAC’s rules only apply to crypto ATM operators, it also expects local digital currency exchanges to consider adopting similar limits if they accept cash for crypto transactions.You may also like: 427 Crypto Exchanges Registered in Australia, But Regulator Says Most Are InactiveThe new conditions follow concerns raised by the regulator over crypto ATM compliance. AUSTRAC had previously set up an internal task force to target cryptocurrency ATMs that were not complying with anti-money laundering rules.The agency found that people aged between 60 and 70 were the most frequent users of crypto ATMs in the country.“It is a huge concern that people in this demographic are overrepresented as customers using cash to purchase cryptocurrency and, as evidence suggests, that a large number of 60–70-year-old users are victims of scam activity,” said AUSTRAC’s CEO, Brendan Thomas.A Massive Market for Crypto ATMsCrypto ATMs work similarly to regular ATMs but facilitate exchanges between cash and cryptocurrency. These transactions often carry high fees.According to AUSTRAC, the number of crypto ATMs in Australia has increased more than fifteenfold in two years—from just 23 in 2019, to 60 in 2022, and over 1,200 in 2024. There are now more than 1,800 active crypto ATMs operating across the country.Data from Coin ATM Radar also shows that Australia ranks as the third-largest country by number of crypto ATM installations. Localcoin is the leading provider, operating 753 ATMs, followed by Coinflip with 700 and Bitcoin Depot with 182.Read more: Aussie Agency Investigates Over 50 Remittance and Crypto Exchanges for Reporting BreachesThe regulator further estimated that nearly 150,000 transactions are made annually through these machines, moving around AU$275 million. The vast majority of those—about 99 per cent—are cash deposits used to purchase cryptocurrencies, primarily Bitcoin, Tether, and Ethereum.“Crypto can be a high-risk investment, but people who consider and are willing to accept those risks may find it a convenient option,” Thomas added. “AUSTRAC will continue to monitor this space and take further action where we see harm occurring.” This article was written by Arnab Shome at www.financemagnates.com.

Paphos Mayor Phedonas Phedonos has made strong allegations that Cyprus has become part of an international money laundering network involving Latin American drug cartels. Speaking on social media, the mayor claimed that some Forex firms based in Cyprus are being used to launder drug money through complex shell company networks in Latin America, KNEWS reported.Mayor Demands Action on Forex FundsHe warned that Cyprus is no longer only a transit point for drugs but is now deeply involved in laundering proceeds from organized crime. The mayor called on regulators to investigate the flow of funds and questioned why financial authorities appear to allow large sums to move unchecked.In response, the Cyprus Securities and Exchange Commission (CySEC) issued a statement underscoring its regulatory role. A CySEC spokesperson said: “The foreign exchange (forex) market is a decentralised network of banks, brokers and other financial institutions that facilitate currency transactions. A market that is the biggest and most liquid in the world where financial groups hold multiple licenses in different jurisdictions.” “Whilst there is no central oversight body for the entire forex market, CySEC’s responsibility as the national regulatory body is to supervise domestic forex trading investment firms in Cyprus to ensure that they are in strict compliance, among others, with the EU Markets in Financial Instruments Directive (MiFID II) and the latest EU AML Directives and Regulations. There are severe penalties and enforcement actions for non-compliance.”Cyprus Faces Scrutiny Over Financial OversightCySEC confirmed it is gathering information from domestic and international bodies before deciding whether to open an investigation related to the mayor’s claims. The regulator reaffirmed its commitment to protecting investors and maintaining the integrity of Cyprus’s financial markets, highlighting ongoing cooperation with European and global agencies.The mayor’s allegations have stirred concerns about potential weaknesses in oversight and the possibility of deeper connections between organized crime and Cyprus’s financial sector. Authorities are now under pressure to demonstrate transparency and take decisive action if necessary. This article was written by Tareq Sikder at www.financemagnates.com.

Robinhood Markets, Inc. has completed its acquisition of Bitstamp Ltd., a cryptocurrency exchange founded in 2011. Bitstamp operates in Luxembourg, the UK, Slovenia, Singapore, and the United States.The agreement was first announced in June 2024. The completed deal marks Robinhood’s formal entry into global and institutional crypto markets.Bitstamp Brings Licensed Users to RobinhoodBitstamp holds more than 50 active licenses and registrations. Its customer base spans the European Union, the United Kingdom, the United States, and parts of Asia.Bitstamp is now officially under Robinhood. ✅ https://t.co/WifotaCAMh pic.twitter.com/yVyLlLdkkW— Chad Steingraber (@ChadSteingraber) June 2, 2025For over a decade, Bitstamp has served institutional clients. Its services include crypto-as-a-service, institutional lending, and staking. It is also recognized for its deep order books and API infrastructure. This article was written by Tareq Sikder at www.financemagnates.com.

Interactive Brokers Group, Inc. (Nasdaq: IBKR) has released its performance metrics for May 2025. The data shows continued growth in client assets and accounts, although trading activity slowed from the previous month.Trading Activity Declines in MayThe firm reported 3.384 million daily average revenue trades (DARTs) in May. This was 43% higher than in May last year but 11% lower than in April.Client equity rose to $628.2 billion, marking a 29% increase year-over-year. Margin loan balances also grew, reaching $61.2 billion, up 15% from a year earlier.Credit balances across client accounts totalled $134.7 billion. This includes funds held in insured bank deposit sweeps. The number of client accounts increased to 3.79 million, which is 32% higher than in the same month last year.You may find it interesting at FinanceMagnates.com: Interactive Brokers UK’s 2024 Revenue Pushed Higher with 142% Client Account Increase.No-Fee Trading Expands with New ETFMeanwhile, Interactive Brokers has added the Ping An of China CSI HK Dividend ETF to its no-transaction-fee offering. The fund tracks 30 dividend-paying stocks listed in Hong Kong across sectors such as finance, energy, and communications. Eligible U.S. clients can trade the ETF with no upfront commission. The move comes amid rising interest in international dividend products as investors seek yield diversity beyond U.S. markets. In a separate update, the broker recently reported 3.818 million daily average revenue trades in April and $588.1 billion in client equity.New Tax-Free Account Supports First-Time BuyersAdditionally, Interactive Brokers has launched the First Home Savings Account (FHSA) through its Canadian branch. This government-registered, tax-free savings plan helps first-time homebuyers save up to CAD 40,000 for a home purchase. Contributions are tax-deductible up to CAD 8,000 annually, and investment income within the account is tax-exempt if used for a qualifying home. Unused funds can transfer to retirement savings plans, offering flexibility for savers. The FHSA supports investments in US and Canadian stocks, options, and bonds. This article was written by Tareq Sikder at www.financemagnates.com.