IUX, a globally recognised CFD brokerage, is pleased to announce its sponsorship of Finance Magnates Africa Summit 2025 (FMAS:25), scheduled to take place on May 29-30, 2025, at the Cape Town International Convention Centre (CTICC) in Cape Town, South Africa. This sponsorship underscores IUX’s ongoing commitment to expanding its footprint in Africa and advancing the development of digital trading solutions across the continent.FMAS:25 is an important event in the region, bringing together professionals from the online trading, fintech and payments industries. As a key sponsor, IUX looks forward to engaging with industry leaders, networking with brokers, financial institutions, and investors, and contributing to the event’s success by connecting with a diverse audience. The summit provides a unique opportunity to explore the growing potential of Africa as a key financial hub, and IUX is committed to engaging with the dynamic and expanding financial landscape across the continent.Opportunities for Networking and CollaborationAttendees will have the opportunity to engage with IUX at FMAS:25 through an interactive social media campaign designed to encourage networking and foster deeper connections. As a key sponsor of the summit bar, IUX invites attendees to participate in the #DrinksOnIUX campaign. By sharing posts with the hashtag, attendees will receive a drink voucher, offering an informal, relaxed environment for networking. This provides a unique opportunity for brokers, investors, and industry professionals to connect with IUX, discuss the future of digital trading in Africa, and explore potential collaborations in an engaging setting.About IUXIUX is a global trading platform offering a comprehensive array of tools designed for CFD traders. Renowned for its intuitive interface, competitive spreads, and advanced technology, IUX is committed to providing a seamless and efficient trading experience for users around the world. With a strong focus on innovation and sustainability, IUX is leading the way in the evolution of trading.For more information on IUX, please visit www.iux.com This article was written by FM Contributors at www.financemagnates.com.

As the Finance Magnates Africa Summit (FMAS25) approaches on May 29-30, all eyes are on brokers who are making a real impact in the region. One such name is FxPro, a globally recognised broker known for its award-winning platforms, lightning-fast execution, and client-first philosophy. We sat down with Elsy Rayess, Chief Business Development Officer at FxPro, to discuss how the company is driving growth and empowering traders across Africa.Elsy, what makes FxPro a great choice for African traders?Africa is one of the most dynamic and fast-growing regions in terms of online trading. At FxPro, we’re committed to delivering value, accessibility, and support to traders across the continent. We offer local funding methods with zero fees, which is a game-changer for accessibility. Whether you’re in Nigeria, Kenya, South Africa, or beyond, traders can deposit and withdraw seamlessly.We’ve also recently introduced a Welcome Bonus and continue to roll out regular promotions designed to reward our active clients. FxPro has hosted some recent physical events in Africa — can you tell us more?Absolutely. This year, we’ve hosted live seminars in Nigeria and South Africa, with more planned in other regions soon. These events are designed to educate, engage, and empower local traders — especially those looking to improve their skills or gain a better understanding of market dynamics.The feedback has been overwhelmingly positive, and we’re proud to be on the ground, face-to-face with our clients. There’s a real appetite for knowledge, and we’re here to support that through education and direct interaction.What trading products and platforms are available to FxPro clients in Africa?We offer a broad range of products — from Forex, metals, indices, and shares to a newly expanded range of ETFs. The addition of ETFs gives traders more ways to diversify and invest in global sectors, themes, and trends.As for platforms, clients can choose from MetaTrader 4, MetaTrader 5, cTrader, and our own FxPro Trading Platform and all-in-one trading App for iOS, Android and Huwai. We believe in giving traders choice and flexibility — each platform is suited to different trading styles and levels of experience.Tell us more about your account types — is there something for everyone?Definitely. We offer several account types to cater to different trading preferences:● The Standard Account is commission-free with competitive spreads.● The Raw+ Account provides ultra-low spreads starting from 0 with a small commission.● The Elite Account is designed for high-volume traders and includes premium benefits like rebates and free VPS.All of these accounts are available via MT4/MT5 or our own in-house platforms, and we also offer a separate cTrader account for those who prefer the features of the cTrader platform range. All accounts are backed by our award-winning execution, and we have a very useful account comparison page where traders can compare all differences and features. Elsy, FxPro is well-known not just for its trading services, but also for its strong global partner network. Can you tell us more about that?Absolutely. Our partnership programs are a vital part of our global growth, especially in regions like Africa where local trust and connections are essential. We offer two primary programs: our Introducing Broker (IB) program and our Affiliate program, both tailored to help individuals and companies grow their businesses while promoting a globally recognised, fully regulated broker.The IB program is ideal for those with direct client relationships and they earn commissions based on the volumes traded, while our Affiliate model works great for those who run websites, blogs, or social media channels, and can earn up to $1100 per referred client. Both offer industry-leading commission structures, real-time tracking tools, and exclusive marketing materials.To reward performance, we've also launched our Partner Benefits Program, which gives top partners the opportunity to unlock high-end rewards — including luxury trips, gold bars, designer watches, and even a sports car worth up to $150K. The best part? Partners can choose between the prize or the cash equivalent, depending on their preference.Whether you're just starting out or you're already an established partner, our goal is to support your growth with transparent terms, premium tools, and a brand you can trust.What can attendees expect from FxPro at FMAS25?We’re excited to meet traders, partners, and fintech professionals at FMAS25! Our team will be there to answer questions, share insights, and showcase the full FxPro offering. Whether you’re new to trading or an experienced investor, we invite you to visit our booth, connect with the team, and discover how FxPro can support your trading journey.Come meet us at FMAS25 on May 29-30 and see why FxPro is trusted by millions worldwide.For more information, visit https://www.fxpro.com This article was written by FM Contributors at www.financemagnates.com.

The US Securities and Exchange Commission (SEC) has postponed its decision on two proposed cryptocurrency exchange-traded funds (ETFs) that would provide exposure to XRP and Dogecoin. The agency extended its review period until June 17, 2025, according to filings published yesterday (Tuesday).The delays apply to two separate requests submitted in March. Cboe BZX Exchange filed to list Franklin Templeton’s spot XRP ETF, while NYSE Arca proposed listing Bitwise’s Dogecoin ETF. Both applications are now part of a broader evaluation process under standard SEC timelines, Cointelegraph reported.XRP, Dogecoin ETF Decision DelayedA third filing submitted on the same day came from Nasdaq, which requested approval to list a 21Shares Dogecoin ETF. All three proposals reflect rising interest from exchanges in altcoin-based investment products.According ETF analysts the SEC could take until around October 18, 2025, to reach a final decision on these and other crypto ETPs. That timeline is based on standard procedural deadlines and current review activity. ?BREAKING: SEC DELAYS DECISION ON FRANKLIN TEMPLETON’S SPOT XRP ETF — NEW DEADLINE JUNE 17 ??The U.S. Securities and Exchange Commission (SEC) has officially pushed its decision on the Franklin Templeton XRP Spot ETF to June 17, 2025, per a new filing published today. The… pic.twitter.com/inWewJeQVB— Diana (@InvestWithD) April 29, 2025The XRP and Dogecoin tokens are among the most traded cryptocurrencies. XRP, the native token of the XRP Ledger, has a market capitalization of approximately $133 billion. Dogecoin, a memecoin, is valued at roughly $26 billion, according to CoinGecko.You may find it interesting at FinanceMagnates.com: XRP in the Spotlight: Brazil Greenlights Spot ETF, US Next?SEC Reviews 70 Crypto ETF ProposalsAs of late April, the SEC was reviewing around 70 crypto ETF proposals, many of which involve altcoins. Bloomberg’s Eric Balchunas said the filings include products tied to assets ranging from Solana and Litecoin to themed and leveraged tokens.Despite the surge in applications, some analysts suggest investor interest may remain concentrated in Bitcoin and Ether ETFs. Altcoin ETFs, while more accessible through public exchanges, do not guarantee market demand.Meanwhile, US exchanges are asking the SEC to apply strict oversight to crypto products. In an April 25 comment letter, Nasdaq urged the regulator to treat digital assets as securities when their characteristics warrant such classification. This article was written by Tareq Sikder at www.financemagnates.com.

Polish retail brokerage XTB reported a significant shift in its revenue composition during the first quarter of 2025, with index-based CFDs emerging as the dominant contributor while commodity and currency CFDs declined in relative importance.Index CFDs Drive Revenue Shift as Client Base ExpandsThe publicly listed company's preliminary financial results (WSE: XTB), released yesterday (Tuesday), revealed that index CFDs accounted for 52.3% of total revenue, up from 41.9% in the same period last year. This change represents a substantial realignment in XTB's revenue structure as client trading preferences evolve.“The first quarter of 2025, in terms of market characteristics, particularly the presence of long and distinct trends, was similar to the fourth and third quarters of 2024,” XTB stated in its report. The company noted that German DAX (DE40), US 100, and US 500 index CFDs were particularly profitable during the period.Meanwhile, commodity-based CFDs saw their contribution shrink to 29.1% of revenue, down from 48.7% a year earlier, despite strong performance in natural gas, gold, and coffee contracts. Currency-based CFDs similarly declined to 13.5% of revenue from 23.2% in Q1 2024.As a result, CFD revenues accounted for over 97% of all income generated by the fintech.Q2 also started with record-breaking activity. As Filip Kaczmarzyk, Head of Trading and a member of XTB's Management Board, told FinanceMagnates.com, “At its peak on Monday, April 7, the number of active users was three times higher than what we observed during the announcement of the COVID-19 pandemic.”You may also like: From Warsaw's Skyliner, XTB's CEO Eyes Super App as 80% of New Clients Pick Stocks, ETFsClient Behavior vs. The ReallocationXTB’s client base continued to expand rapidly, growing by 49.8%, while active clients jumped 76.5%. The brokerage noted increased trading volumes across asset classes, but a disproportionate share of client activity appears to be concentrated in equity index markets.“In the first quarter of 2025, CFDs based on indices were the leading contributor,” XTB added.Transaction volumes in CFDs rose 24.9% in lots and 61.2% in nominal USD value, yet profitability per lot declined to PLN 277, from PLN 344 a year earlier. This may indicate margin compression from high-frequency or range-bound trading, especially in commodities and forex.XTB’s rising reliance on index CFDs may signal a strategic tilt toward equity-driven trading activity—a shift that could prove vulnerable if equity markets stabilize or volatility declines. The broker’s income model is sensitive to macro conditions, with profitability closely tied to market activity and directional trends.“The Group’s operating income and profitability may decline in periods of low activity on the financial and commodity markets,” the company said, adding that range-bound trading environments tend to generate more profitable trades for clients, reducing broker-side gains​.The report was met with strong optimism by the market, and XTB shares are currently up nearly 6%, testing the level of PLN 83.80 and setting new all-time highs.XTB Reports Record Client Growth but Profit SlidesXTB reported total operating income of PLN 580.3 million ($143.4 million) for the quarter, a 4.4% increase year-over-year. However, net profit fell to PLN 193.9 million from PLN 302.7 million in Q1 2024, primarily due to a 54.1% surge in operating expenses to PLN 315.8 million.The company continued its aggressive client acquisition strategy, adding a record 194,304 new customers in Q1. Active clients grew to 735,389.“The consolidated net profit achieved in the first quarter 2025 was mainly influenced by the record level of operating revenue, which resulted from the expansion of the customer base, combined with the anticipated increase in operating costs related to the dynamic growth of the XTB Group and the intensification of marketing activities,” the company explained.Marketing expenses jumped 73.9% year-over-year to PLN 141 million as the company expanded advertising campaigns across multiple European markets. XTB's management expects marketing expenditures for the full year 2025 to increase by approximately 80% compared to 2024.The company continues its transformation from a CFD broker into a comprehensive fintech platform, launching new services like the eWallet and specialized investment accounts. The shift is particularly visible in the French market, where only about 30,000 individuals are interested in CFDs, while over 7 million investors hold PEA investment accounts.XTB also announced plans to introduce cryptocurrency trading and options in the future.Looking ahead, management aims to acquire between 150,000 and 210,000 new clients per quarter in 2025 and has proposed a dividend of PLN 5.45 per share from its 2024 profits, representing a total payout of PLN 640.8 million. This article was written by Damian Chmiel at www.financemagnates.com.

The Cyprus Diaspora Forum 2025 is fast approaching, and registration will close soon. If you plan to attend, now is the time to purchase your ticket. The event will take place from May 7 to May 10, 2025, at the Amara Hotel in Limassol, and is already drawing attention from business leaders, investors, and Cypriots worldwide.This event spans four days filled with networking, direct discussions, essential concepts, and the creation of new connections. Finance Magnates is proud to be a media partner of the Cyprus Diaspora Forum 2025.What You’ll Get From the Cyprus Diaspora Forum 2025Big Names. Big Talks. Real Results.Over 120 speakers will take the stage, including leaders from various sectors such as banking, technology, law, and more. You will hear their honest opinions, get facts, and learn about what’s genuinely happening across 14 growth sectors in Cyprus.Your Chance to Talk, Not Just ListenYou will find eight special side events, each centred around important real-world topics. From women in leadership to fintech and real estate, there's something beneficial for every professional. Additionally, this is a fantastic opportunity to meet genuine investors, with over 250 global investors expected to attend. If you have a project, don't hesitate to pitch it. If you're looking to grow, engage with the right people.The CYDIA AwardsOn May 10, the CYDIA Awards will honour Cypriots making a significant impact around the world. This formal event includes a gala dinner and a spectacular entertainment programme, with performances by Vasiliki Hadjiadamou, Batukinio, Shakallis Dance School, Aliki Chrysochou, Sophia Patsalides, Ciara, and internationally renowned Greek-Cypriot artist Loukas Yorkas.Why Attend the Cyprus Diaspora Forum 2025?Connect with Global Leaders: Engage with over 120 speakers and 250+ global investors across 14 growth sectors, including fintech, real estate, and sustainability.​Exclusive Networking Opportunities: Participate in 8 side events designed to foster meaningful connections and partnerships.​Celebrate Excellence at the CYDIA Awards: Attend the prestigious CYDIA Awards 2025 on May 10 at the Parklane Resort, honouring outstanding contributions from the Cypriot diaspora.​Gain Insights from Industry Experts: Learn from keynote presentations and panel discussions featuring prominent figures.Cyprus Diaspora Forum 2025 ScheduleWhat You’ll Hear AboutCypriots living abroad, top professionals, community leaders, global experts, diplomats, and officials will come together for lively panels and candid fireside talks. They’ll tackle real issues, share practical advice, and support Cyprus’ key sectors—all while helping attendees gain valuable insights and take real steps forward in their work or business.Below are some of the topics that will be covered during the event.Women in BusinessFuture of EducationMarketing & BrandingInvesting in CyprusEnergy & Green PlanningLaw & RegulationDiaspora RelationsCybersecurity & TrustReal Estate TechFilm & Media GrowthSecure Your Ticket NowRegistration closes on Sunday, May 4, 2025. Get your ticket today and be part of a transformative event that bridges the global Cypriot community. Please note that tickets can only be purchased online before the event.Also read: Cyprus Diaspora Forum Secures RIF Funding for high-level Business Event This article was written by Finance Magnates Staff at www.financemagnates.com.

For centuries, gold has captivated societies with its rarity and value. Ancient civilizations prized it as both decoration and a symbol of wealth and power. The Egyptians buried their pharaohs with gold artifacts, while empires like the Roman, Persian, and Chinese minted gold coins as currency. Its scarcity and beauty made it highly sought after for adornment and trade.The Gold Standard: A Foundation of StabilityIn the 19th and 20th centuries, the global financial system relied on the gold standard. Currencies were pegged to gold reserves, limiting money printing and supporting monetary stability. The Bretton Woods Agreement later fixed the U.S. dollar—and other currencies—to gold, making it central to the post-war system. By the early 1970s, inflation and the need for flexibility ended direct gold backing. Still, central banks and private holders kept gold as a safeguard during crises and inflation.The Rise of Bitcoin: A Modern "Digital Gold"In 2009, Bitcoin emerged as another form of value storage, created by an enigmatic figure or group known as Satoshi Nakamoto. Unlike traditional currency, Bitcoin operates on a decentralized blockchain—a global ledger maintained by a network of computers. This system is inherently free from government or central bank control, relying instead on cryptographic methods to validate and record transactions.? "Bitcoin should be treated as a commodity like gold, not a currency.? Trade it freely—no harm, only freedom," says @howardlutnick.?? The U.S. embraces #Bitcoin — and there’s no turning back. pic.twitter.com/ylXG4mjs8p— Crypto News (CoinGape) (@CoinGapeMedia) April 29, 2025Bitcoin's scarcity is one of its most notable features: only 21 million bitcoins can ever be created. This fixed cap has led some to refer to Bitcoin as "digital gold," drawing parallels with its predecessor's role in anchoring national currencies. Unlike physical gold, Bitcoin offers unique advantages such as portability and divisibility.You may find it interesting at FinanceMagnates.com: Crypto Surges to $3 Trillion, AI Disruption, US Policy Shifts: 2025 Investment Forecast.Advantages of Bitcoin Over GoldGold, though historically reliable, has limitations that Bitcoin aims to address:Portability: Moving gold is costly and slow, while Bitcoin transfers across borders take minutes with low fees.Divisibility: Bitcoin can be split into tiny fractions, allowing micro-transactions impractical with gold.Transparency: Blockchain records all transactions publicly, offering more transparency than the global gold market.Storage: Gold needs secure vaults, while Bitcoin can be stored digitally, though cybersecurity remains a key concern.Bitcoin's Rising PopularityBitcoin's popularity stems from its status as a "hot commodity" today. The adoption has spread across various sectors:Mainstream Adoption: Large payment processors, online retailers, and even brick-and-mortar businesses now accept Bitcoin.Inflation Concerns: Investors use Bitcoin to hedge against inflation, particularly when governments devalue their currencies through excessive money printing.Institutional Involvement: Major financial institutions like hedge funds and asset managers are increasingly allocating portions of their portfolios to Bitcoin to lend credibility to the asset class.Media Attention: Volatile price movements and stories of early adopters becoming wealthy have kept Bitcoin in the public eye, sparking interest among traditional investors.MicroStrategy's Role in Bitcoin AdoptionPublic business intelligence firm MicroStrategy has emerged as a key player in Bitcoin adoption. Under CEO Michael Saylor, the company converted significant portions of its cash into Bitcoin, citing concerns about fiat currency depreciation. This move not only captured media attention but also inspired other companies to integrate Bitcoin into their treasury strategies.Generating Yield with BitcoinUnlike physical gold, Bitcoin offers ways to generate passive income:Lending Platforms: Bitcoin can earn interest when deposited on platforms that lend to borrowers.Collateralized Loans: Holders can secure loans in fiat or stablecoins, with returns depending on how borrowed funds are used.Decentralized Finance (DeFi): Bitcoin can be placed in decentralized apps to earn fees by providing liquidity, though smart contract and market risks apply.These options give Bitcoin holders yield opportunities unavailable with gold.Gold’s Legacy, Bitcoin’s Digital FutureGold has long been a safe haven and store of value, with undeniable historical reliability. In a digital world, Bitcoin offers a compelling alternative, often called "digital gold." It shares gold’s scarcity but adds portability, divisibility, and transparency. However, Bitcoin remains highly volatile, acting more like a commodity than a stable currency. Its price swings make it better suited for long-term investment. As always, due diligence and risk tolerance are essential. This article was written by Dr Demetrios Zamboglou at www.financemagnates.com.

Often, when brokers consider launching a new technology-based service, they treat the cost of the solution as the final cost of the entire project. However, this narrow approach can compromise the client experience and lead to unexpected operational costs. Brokeree Solutions, a global provider of turnkey technologies for brokers, asked industry experts to explain what brokers should consider to ensure the success of a new service launch, the return on investment, and the fulfillment of expectations.The consensus can be summed up in a simple principle:The project is built around technology – but it doesn’t end there.Once the technology is procured, the broker starts integrating it into its infrastructure. Even with robust support from technology providers, the ultimate responsibility for a successful deployment lies with the broker. In this article, we’ll highlight three critical areas – across fintech, retail, and proprietary trading – that brokers must address to ensure operational excellence and long-term success.Marketing Strategy– What role does the marketing dept play at different stages of a new service launch?Throughout every stage of a new service launch, a crucial role is devoted to marketing – far beyond just promotion. At the earliest phases, involving marketing helps validate demand and align the product with client needs to ensure market fit. Post-launch, marketing monitors user behavior, refines messaging, and feeds insights back into product development.“Whenever you think of marketing as a function, you end up with a mentality that the marketing team is there to promote what’s already created. But in reality, the sooner you get your marketing team onboard, the quicker you might realize that what you are building is irrelevant to your clientele. Thus, the marketing team should be there from the start and focus on understanding the demand and developing strategies to capture it and generate relevant leads.Should you fail to implement a full-cycle marketing team, you inevitably end up with half-functioning services, which are miles away from a seamless customer experience. Other than that, it’s a rather straightforward process: know what your target audience needs, create that, meet them when they need the solution, listen to their feedback, and improve. You get bonus points if the branding and messaging is consistent across the services” – Anton Sokolov, Marketing Manager at Brokeree Solutions.Throughout the launch, marketing not only drives adoption and brand trust but also captures critical user feedback, enabling rapid adjustments to messaging, UX, and even core features. That is why integrating marketing across all stages is no longer optional; it is essential for building services that are relevant, resilient, and revenue-generating.“Marketing isn’t just a post-launch add-on — it’s your early warning system, reality check, and growth engine. At pre-launch, marketing defines product-market fit, builds the ICP, and tests real demand before a single dev hour is wasted. At launch, we drive adoption and trust. Post-launch, we optimize messaging and UX based on behavior data. Ignore this flow, and you risk burning 60% of your service budget on a product no one needs. Marketing isn’t a department — it’s a multiplier” – Elena Kupriianova, CMO in Fintech (ex Capital.com, Exness), Founder in Growth Inquisition.Project Management– Can a service survive and prosper without a dedicated project manager? Even the most innovative technology is just a tool. To fully benefit from the potential of a new solution, it’s critical to allocate resources for its smooth integration within the organization. This requires more than just technical implementation; the project needs dedicated personnel or a team to ensure it becomes a part of the company's workflow. “A service can technically survive without a dedicated project manager, but to truly prosper, it needs someone responsible for ensuring that the various parts – technology, user experience, branding, and operations – work together seamlessly. However, one of the biggest mistakes I see in the FX and prop industry is firms hiring external project managers who lack industry-specific knowledge. This leads to poor decision-making and disjointed development.In my experience, the best results come from training internal team members who already understand the product, the customer, and the nuances of the industry. Empowering them to take ownership of projects ensures that the service remains relevant, cohesive, and continuously improving. Product and project ownership should be rooted in a deep understanding of both the technology and the trading experience itself, not just generic project management skills” – Marcus Fetherstone, General Manager at Blueberry Funded.A project manager plays a pivotal role in guiding this integration, ensuring the smooth deployment of the technology and its ongoing optimization and effective use across departments. Without this dedicated focus, even the best technology risks becoming underutilized, limiting the project’s ability to scale and deliver value.“I admire people with an optimistic attitude, and I’m also trying to be on that side. So, to answer this question, I’d say a service can survive without a project manager. But realistically speaking, the longevity and scalability are very questionable in this case. If it’s a small project or just the initial stage (such as installation, for example), not much attention is needed as technology providers usually take care of it. However, when it comes to the involvement of third-party providers or making sure all settings and scenarios were checked, that is where it becomes challenging to handle without a dedicated manager or team who would be making sure the coordination is centralized, the deadlines are met, and all important people are involved.Whether it’s a positive attitude or not, but to launch a successful long-term service, it’s fundamentally about the team behind it, not only about the service itself” – Tatiana Pilipenko, Regional Head of Business Development (UK, APAC, Americas) at Brokeree Solutions.Integration and Smooth Experience – How can an integrated ecosystem benefit a newly launched service?A seamless experience for the end user – the trader – is crucial for a new service’s success. This means brokers should consider integrating deeply with CRM providers and employing advanced hosting technologies to ensure that all components work in harmony. These integrations may appear to be critical to maintaining client engagement. “In today’s digital landscape, clients have grown to expect straightforward integration between the services they use. Within any modern ecosystem, connectivity is not simply a feature but a fundamental expectation. We rarely pause to consider how effortlessly information flows between systems. Yet when we do, we are often astonished by the depth of integration and the sophistication of underlying infrastructures.Against this backdrop, launching a service in isolation, a platform that requires clients to build and develop additional functionalities themselves, is no longer a viable strategy. Today’s users are looking for solutions that work straight out of the box and feel naturally connected to the broader ecosystem of services they already engage with. They expect a frictionless experience where every tool, feature, and piece of data operates in harmony with the rest.This is why it is critical for any company introducing a new service to ensure it is not just a standalone product but an integrated and evolving part of a larger system. A company must offer a service that is not static but actively managed and continuously refined. It is not enough to simply launch and move on. The service must be nurtured, upgraded, and expanded with foresight and responsiveness to user needs” – Victor Ivanov, Regional Head of Business Development (EMEA) at Brokeree Solutions."In Forex, launching a service isn’t just about having the right tools; it’s about how they work together. Your trading platform, CRM, bridge, databases, and proxy servers all need to live in an infrastructure that’s fast, secure, and reliable. That means private data transfers, low latency, and rock-solid uptime.Too often, we see FX brokers relying on bare-bones setups, where the only deciding factor was low cost. From my perspective, a scalable and integrated infrastructure doesn’t have to be expensive — but it does need to be thoughtfully planned and professionally designed to support growth and long-term success" – Stefano Sordini, CEO at NetShop ISP.Launching a new service requires more than just a flagship product. It requires an approach that ties together technology, marketing, and team integration for long-term success. Brokers who invest in the strategy and infrastructure will be poised to not only meet but exceed client expectations. Brokeree Solutions is a provider of technological solutions for multi-asset brokers worldwide. The company specializes in turnkey solutions including flagship systems like Social Trading, PAMM, Prop Pulse, and Liquidity Bridge, offering comprehensive technologies that address almost any broker’s needs. This article was written by FM Contributors at www.financemagnates.com.

Costas Cleanthous, co-founder and majority owner of contracts for differences (CFDs) broker XM, is acquiring about a 55 per cent stake in Cyprus’ Ancoria Bank, local media InBusinessNews and Economy Today reported. The acquisition, however, will be made in a personal capacity, without XM's involvement.CFDs Owner Buys BankAccording to local reports, Cleanthous and Ancoria Bank have already reached preliminary agreements, which are now pending approval from the Central Bank of Cyprus. The deal will clearly make Cleanthous the controlling owner of the Cypriot bank.Apart from Cleanthous, businessman and banker Charalambos Panayiotou will also acquire 25 per cent of the bank. Ancoria Insurance will hold the remaining 20 per cent stake.Cleanthous' interest in Ancoria Bank did not arise suddenly. He and Panayiotou currently hold less than 10 per cent of the bank’s share capital. After the new deal, they will effectively control 80 per cent of the bank together.Despite his involvement with XM, the bank will have no association with the CFDs broker.You may also like: Philippines Flags XM for Offering Unauthorized SecuritiesStrengthening the Cypriot EconomyAncoria Bank operates from branches in Nicosia, Limassol, and Larnaca, offering banking products to individuals and businesses. In the first half of 2024, the bank posted €4.2 million in profits, compared to €8.3 million at the end of 2023.Customer deposits at the bank reached €742.9 million at the end of June 2024. Further, the bank's gross loans totalled €322.2 million, an increase from €318 million at the end of 2023. However, its non-performing loans ratio stood at 1.8 per cent at the end of the first half of 2024.Read more: Kraken’s Cyprus Move—PU Prime-Linked CFDs Firm Revealed as Acquisition TargetThe local reports outlined that Cleanthous' goal is to establish a fully Cypriot-owned commercial bank focused on supporting local entrepreneurs, the general public, and small to medium-sized enterprises (SMEs), which is key to strengthening the Cypriot economy. This article was written by Arnab Shome at www.financemagnates.com.

Fragmented liquidity remains a significant challenge for brokers and trading venues seeking to achieve high execution quality across diverse asset classes. Traditional liquidity bridges and aggregators often fail to provide the depth, coverage, and flexibility necessary to succeed.B2CONNECT is a solution designed to address these limitations. With exceptional performance, enhanced access to liquidity, and seamless connectivity, B2CONNECT is rapidly establishing a new standard in liquidity infrastructure.Finance Magnates is hosting a free, exclusive webinar with Nahum Greenberg, Product Manager at B2CONNECT, to explore how this powerful technology is transforming the trading experience. This is your chance to gain insights into institutional liquidity innovation. B2CONNECT Liquidity Webinar Details Why This Webinar Is a Must-Attend Whether you’re a brokerage firm, liquidity provider, or technology-focused trading venue, this session is designed to equip you with the knowledge, tools, and insights to enhance your market competitiveness.✔️ Expand Liquidity DistributionB2CONNECT is designed with scalability in mind. Liquidity providers can utilise it to significantly expand their reach across FX, crypto, and CFDS—accessing new broker clients and enhancing distribution efficiency.✔️ Deepen Liquidity AccessThanks to its superior order book depth and precision, B2CONNECT enables brokers to access premium liquidity pools with tighter spreads and faster execution times. This means better prices and happier end users.✔️ Real-Time Analytics for Smarter DecisionsWith B2CONNECT’s integrated analytics dashboard, brokers can track liquidity flow and performance in real time, enabling them to make fast, data-driven decisions that directly impact their profitability.✔️ Live Q&A With the ExpertNahum Greenberg will be fielding live questions during the session, giving attendees direct access to the brain behind B2CONNECT. This is your chance to clarify your unique use cases and implementation strategies.What You Will LearnThis isn’t just another product demo. It’s a strategic insight session for serious financial professionals. By attending, you’ll gain:An in-depth understanding of B2CONNECT's role in reshaping liquidity infrastructure.Expert strategies for optimising liquidity across multi-asset classes.Fresh perspectives on the future of institutional liquidity aggregation and distribution.Trust the Experts – Learn From the BestB2Broker is well-known for its innovative solutions in the fintech industry. In this webinar, they invite you to explore the latest advancements in liquidity connectivity. Nahum Greenberg will share his technical expertise and practical insights on how brokers can capitalise quickly on this shift.Frequently Asked Questions (FAQs)1. Is this webinar free to attend? Yes, the webinar is completely free of charge. Just register in advance to secure your seat.2. Will a recording be available afterwards? Only registered participants will receive access to the on-demand recording.3. Can I ask questions during the webinar? Absolutely! A live Q&A session with Nahum Greenberg is included.4. What level of experience is required to attend? This session is suitable for all levels.5. Will B2CONNECT support my current platform setup? During the webinar, you’ll learn about integration options and compatibility across various trading platforms. This article was written by Finance Magnates Staff at www.financemagnates.com.

Operating for almost three years and originating from Canada, prop firm Lark Funding, led by Matthew Letourneau, has announced plans to offer its clients a new platform. Match-Trader will complement their current offering.Lark Funding Aims to Add a Third Platform, Focuses on Match-TraderLate last week, Letourneau informed users on Lark Funding's official Discord that the firm is “in the process of onboarding MatchTrade as a new platform option.”Developed by Match-Trade Technologies, Match-Trader has gained significant popularity over the past several months in the prop trading space. This growth was particularly notable following the regulatory crackdown initiated by MetaQuotes, the provider of MetaTrader platforms, in February 2024.Until now, clients of the Canadian prop firm could use cTrader from Spotware Systems and DXTrade provided by Devexperts. Now, according to the latest information, a third platform will be added to their offering.Match-Trader Expands Its Offering Toward Prop FirmsThis move comes at a time when Match-Trade has announced a partnership with Centroid Solutions, integrating the Risk Analysis system offered by the company. This aims to support the technological offering not only for CFD brokers but also for challenge-based prop firms.“We are thrilled to strengthen our relationship with Match-Trade Technologies through this integration,” said Cristian Vlasceanu, CEO of Centroid Solutions. “Our mission is to continually innovate and provide brokers and prop trading firms with the tools they need to thrive in a highly competitive market.”Previously, Match-Trade also announced integration with YourPropFirm's CRM system to streamline the workflow for props, facilitating trader management and automation of key processes.“Partnering with Match-Trader strengthens our commitment to providing prop firms with real choice and flexibility,” Markus Sichler, Co-Founder and Strategic Advisor at YourPropFirm, commented.From Blocking US Clients to New PlatformsLark Funding was one of the prop firms at the center of last year's regulatory crackdown, suspending access for clients from the United States and discontinuing support for MetaTrader.The firm initially introduced DXTrade as an alternative platform. Since then, Letourneau has been working on expanding their offerings, adding features such as the ability to directly complete challenge passes from TradingView charts in November 2024. “After Devexperts contributed to multiple broker integrations with us through their DXtrade trading backend and facilitated the process, we stand prepared to welcome new brokerages into our mutually beneficial ecosystem,” said Rauan Khassan, VP of International Growth at TradingView. While the integration occurred earlier this year, Lark Funding is only now adding some of the TradingView charting capabilities. This article was written by Damian Chmiel at www.financemagnates.com.

CFI Financial Group reported first-quarter 2025 trading volume of $1.28 trillion, marking a 13.5% increase from the previous quarter and a 129% rise compared to the same period in 2024, the company announced today (Wednesday). For the Dubai-headquartered broker, this marks another consecutive quarter of record client activity.CFI Grows Client Accounts as Trading Volume RisesLast year, CFI also reported a record-breaking start, although trading volumes at that time were more than twice as low, totaling $557 billion in Q1 2024. Since then, the company has seen significant quarterly jumps, reaching the current level of nearly $1.3 trillion.The online trading provider also recorded upticks in client activity, with both funded and active accounts reaching new highs. Funded accounts rose 5.5% from the fourth quarter of 2024 and 75% year-over-year.Active accounts increased 7.4% quarter-on-quarter and 92% from the first quarter last year. Funding transactions climbed 54% over the previous quarter and 148% year-over-year.“The first quarter of 2025 sets the tone for a landmark year ahead for CFI,” said Hisham Mansour, Co-founder and Managing Director of CFI. “Surpassing new records once again is a testament to the passion of our global teams and the trust of our growing client base.”New Products and PartnershipsDuring the quarter, CFI opened operations in Azerbaijan and launched CFI Prime, a service for institutional and professional traders. The company received industry awards at the iFX Expo and from ADVFN International Financial Awards.CFI formed several partnerships in the quarter, participating in Kuwait’s Ya Hala Festival, Abu Dhabi’s Saadiyat Nights, and the Kayan Wellness Festival. It also became an official partner of the Kuwait Basketball Association.“As CFI continues its journey through 2025, we are scaling innovation, setting new standards for client experience, and forging impactful partnerships, redefining what excellence means in the world of online trading,” added Mansour.The company also recently introduced the Trading Transparency+ service, which is designed to help traders better understand key trading concepts before they start their investment journey. This article was written by Damian Chmiel at www.financemagnates.com.

UPS cuts Amazon shipments, announces layoffs, and calls out tariffs. Amazon almost did the same—until Trump called Bezos. Trade tantrums, anyone?UPS and Amazon Are No Longer "Shipping Goals"Back in January, UPS decided it was time to break things off—at least a little. The company struck a deal with Amazon to slash its delivery volume by more than 50% starting in the second half of 2026. That’s not a typo. Half."The reduction of package volume from Amazon is something UPS chose to do as we focus on revenue quality, and increase domestic operating margin and profitability," a UPS spokesperson said at the time.#BREAKING: United Parcel Service (UPS) announced Tuesday that it plans to slash 20,000 jobs this year due to economic uncertainty and a potential pullback from Amazon, its largest customer. Details: https://t.co/2eUZPJXa5J pic.twitter.com/sW5ry8FtUe— KTLA (@KTLA) April 29, 2025Amazon, meanwhile, insists they didn’t see it coming. According to the e-commerce giant, they actually offered UPS more business, not less. But UPS ghosted anyway. “Due to their operational needs, UPS requested a reduction in volume and we certainly respect their decision,” said Amazon spokesperson Kelly Nantel, sounding like someone trying very hard not to sound salty, "We'll continue to partner with them and many other carriers to serve our customers."Despite the split, UPS is still a shipping juggernaut, moving 22.4 million parcels per day last year—adding up to a casual 5.7 billion for the year. That said, Wall Street didn’t exactly send flowers. UPS shares slipped 55 cents (0.6%) to $96.61 in afternoon trading.Translation: "Dear Amazon, it's not me, it's you. And also, it's very much me because I need to stop bleeding money."UPS's LayoffsIn further bad news, UPS is sharpening its axe again. On Tuesday, the delivery giant said it plans to lay off 20,000 workers this year as part of a sweeping cost-cutting push—one that's tied directly to its decision to scale back business with Amazon. With a global workforce of about 490,000, this latest round of layoffs will trim a bit more than 4% of UPS’s headcount. It comes hot on the heels of last year’s 12,000-job reduction, making it clear the company isn’t just tightening its belt—it’s punching new holes in it. The layoffs are part of a broader strategy to consolidate operations. UPS also announced it will shut down 73 buildings by June 2025 and warned that even more closures could be on the chopping block. In other words: fewer packages, fewer people, fewer places.A Tariff Tantrum?But that’s not the only plot twist. In a move that’s as bold as it is brutally honest, UPS has started showing customers exactly how much tariffs are inflating their shipping costs. Imagine buying something online and seeing a pop-up that says, "P.S. You’re paying this much extra because of trade wars." That’s basically what UPS is doing on its website. It’s the shipping equivalent of a restaurant menu that says: “This steak is $5 pricier because of that cow tax you voted for.”UPS says the transparency is meant to help customers plan better. But it also serves as a passive-aggressive dig at U.S. trade policy—especially at a time when tariffs are stacking up like shipping containers at the Port of Los Angeles.For a company long considered boring but reliable, UPS is suddenly the petty king of trade shade. And it looked like it was about to be joined by another giant…Amazon Nearly Called Out Tariffs Too—Until Trump Hit “Dial”Here’s where things get even juicier. According to Punchbowl News, via CNN, Amazon was planning to join UPS in pointing fingers at tariffs. Amazon was denies this. The e-commerce juggernaut was reportedly preparing to tag a "tariff charge" on the price presented at checkout. This little footnote would have shown just how much Trump’s new wave of tariffs—mostly aimed at Chinese imports—was costing everyday shoppers.That’s right. The Everything Store was supposedly ready to let you know that a $12 garlic press now costs $13.25 because someone thought tariffs were a good idea.But then… Trump called Jeff Bezos.Amazon denies plans to show tariff costs, Trump calls Bezos: "He did the right thing." pic.twitter.com/IuXAdpSUj2— Yahoo Finance (@YahooFinance) April 30, 2025And like a teacher catching a kid about to snitch, the call apparently worked. According to CNN’s reporting, White House officials saw the Amazon move as “hostile.” Amazon quietly shelved the plan. No tariff charges on your checkout page, no passive-aggressive digs, no economic literacy for the masses. Bezos, it seems, blinked. “Jeff Bezos was very nice. He was terrific,” Trump said of the issue. “He solved the problem very quickly. Good guy.”Amazon says it won't list tariff costs next to products. But prices have been rising. https://t.co/QJWtOsEwiU— USA TODAY (@USATODAY) April 29, 2025Now, we don’t know exactly what was said in the call—probably something between “Let’s not start a trade war narrative” and “Nice space rockets you got there, shame if someone regulated them.” But the end result? The tariff transparency movement got iced faster than leftover guac in a tech office fridge.Tariffs, Transparency, and the Battle for the NarrativeAll of this points to a bigger issue: the narrative around trade and tariffs is increasingly being shaped not just by policy, but by corporations reacting in real-time. UPS, facing a revenue dip and excess capacity, is using tariff transparency to stay competitive and honest (or at least to sound like it). Amazon, with its eyes on everything from retail to cloud to AI dominance, clearly sees too much downside in picking a public fight with Trump 2.0.The White House just branded the founder of Amazon, one of the most successful American companies ever, as a Chinese stooge, simply because there was a rumor that they might tell shoppers how tariffs jack up their prices. That isn’t policy; it’s cult behavior. It’s straight… pic.twitter.com/sUVpwLZJlo— Brian Krassenstein (@krassenstein) April 29, 2025The irony is that both companies are being squeezed by the same trade pressures—but only one has decided to air its grievances in public. UPS may have lost (or stepped back from) a big chunk of Amazon’s business, but it’s not going down quietly. Amazon, for now, is choosing silence over spectacle. But if tariffs start hurting its bottom line hard enough, even a call from Mar-a-Lago might not be enough to keep Bezos quiet.Until then, brace yourself. Whether it's UPS getting blunt or Amazon biting its tongue, the real price of trade wars is now showing up—in the economy and at your digital checkout.For more stories around the edges of finance, visit our Trending section. This article was written by Louis Parks at www.financemagnates.com.

Federal securities regulators have charged three Dallas-Fort Worth area residents with orchestrating a $91 million Ponzi scheme that defrauded more than 200 investors over nearly three years. The Securities and Exchange Commission (SEC) filed a civil complaint in the Eastern District of Texas on Tuesday against Kenneth W. Alexander II, Robert D. Welsh, and Caedrynn E. Conner, alleging they promised investors guaranteed high monthly returns from a purported international bond trading business that, in reality, did not exist.SEC Alleges $91 Million Fraud, Homes and Luxury Items SeizedAccording to the SEC’s complaint, Alexander and Welsh controlled a trust called Vanguard Holdings Group Irrevocable Trust (VHG) and promoted an investment program that claimed to deliver 12 monthly payments of 3% to 6%, with the original principal returned after 14 months. The pair told investors that VHG was a highly profitable enterprise with billions in assets, generating returns through international bond trading. In truth, the SEC alleges, VHG had no substantial revenue and used new investor funds to pay earlier participants-a classic hallmark of a Ponzi scheme.“The defendants conducted a large-scale Ponzi scheme that caused devastating losses to investor victims, while Alexander and Conner misappropriated millions of dollars of investor funds,” said Sam Waldon, Acting Director of the SEC’s Division of Enforcement, in a statement. “We remain unwavering in our commitment to hold individuals accountable for defrauding investors.”The SEC further alleges that Conner, acting as trustee of Benchmark Capital Holdings Irrevocable Trust (Benchmark), funneled more than $46 million in investor money to VHG through a similar investment program. Benchmark offered even higher promised returns, and Conner is accused of misappropriating millions for personal use, including the purchase of a $5 million home.You may also like: SEC Ends PayPal's Stablecoin (PYUSD) Investigation With No Enforcement Action“Pay Order”To entice investors and allay concerns about risk, Alexander, Welsh, and Conner marketed a so-called “pay order”—a purported financial instrument that allegedly protected investments from loss. The SEC asserts these protections were fictitious, with no evidence of actual pay orders being purchased or honored. Bank records show no transactions with the European banks supposedly backing these instruments, and when an investor attempted to redeem a pay order, the issuing bank refused payment.The complaint details how the defendants used investor funds not only to pay returns to earlier investors, but also to settle lawsuits from victims of a prior advance-fee scheme. As the flow of new investments slowed in early 2023, the scheme began to unravel, with payments to most investors ceasing and the defendants providing false excuses for the delays.The SEC’s filing seeks permanent injunctions, disgorgement of ill-gotten gains with interest, and civil penalties against all three men. The agency also wants to bar the defendants from participating in future securities offerings. This article was written by Damian Chmiel at www.financemagnates.com.

PayPal (NASDAQ: PYPL) announced that the U.S. Securities and Exchange Commission (SEC) has closed its investigation into the company’s USD-backed stablecoin, PayPal USD (PYUSD), with no enforcement action taken.SEC Ends PayPal Stablecoin Probe, No Enforcement ActionThe payments provider disclosed in the Q1 2025 earnings report that the SEC’s Division of Enforcement notified the company in February that it had concluded its inquiry into PYUSD. The investigation began in November 2023, when the SEC issued a subpoena requesting documents related to the stablecoin. PayPal said it fully cooperated with the regulator’s request.“In November 2023, we received a subpoena from the U.S. SEC Division of Enforcement relating to PayPal USD stablecoin. The subpoena requested the production of documents. In February 2025, the SEC communicated it was closing this inquiry without enforcement action,” the company commented in the statement.The news of the SEC’s decision comes as PayPal reported stronger-than-expected first-quarter financial. The company posted earnings of $1.33 per share, surpassing Wall Street forecasts, with revenue rising 1% year-over-year to $7.8 billion. PayPal also highlighted the completion of significant share repurchase activities during the quarter.Dropping the lawsuit against PYUSD is further evidence that the SEC, under its new leadership, is easing the pressure previously applied to crypto firms. A month ago, the regulator ended its probe into Crypto.com, in February it closed its investigation into Robinhood Crypto, and earlier this year, it wrapped up inquiries involving Coinbase and Gemini.Will PYUSD Gain Traction?PYUSD, launched in August 2023, is marketed as being fully backed by U.S. dollar deposits, short-term Treasuries, and cash equivalents. The stablecoin is designed to be redeemable 1:1 for U.S. dollars. Despite these assurances, PYUSD has so far captured only a small share of the stablecoin market, which is dominated by larger players such as Tether and Circle. As of late April, PYUSD’s market capitalization stood at approximately $880 million, less than 1% of Tether’s $148.5 billion.Recent months, however, have seen a pickup in PYUSD’s growth, with circulating supply rising 75% since the start of 2025, according to data from CoinGecko. However, the stablecoin’s supply remains below its August 2024 peak.Boosting AdoptionIn an effort to boost adoption, PayPal recently introduced a new loyalty program that allows U.S. users to earn an annual yield of 3.7% for holding PYUSD on its platform. The company also announced a partnership with Coinbase aimed at expanding the stablecoin’s use cases.“We are excited to drive new, exciting, and innovative use cases together with Coinbase and the entire cryptocurrency community, putting PYUSD at the center,” said Alex Chriss, PayPal President and CEO.With the SEC inquiry now closed, PayPal is looking to expand PYUSD’s presence in the digital asset market, leveraging new partnerships and product offerings to compete in a crowded stablecoin sector. This article was written by Damian Chmiel at www.financemagnates.com.

The Financial Conduct Authority (FCA) will be more transparent with its data requirements for instruments like contracts for differences (CFDs) and spread bets to support its market abuse investigations.“Some Reporting Obligations Are Duplicative”In her speech on Monday, Therese Chambers, the FCA’s Joint Executive Director of Enforcement and Market Oversight, stressed how the UK regulator is tackling various challenges related to market abuse.“We know some reporting obligations are duplicative,” she said. “We understand there are challenges specific to certain instruments, like FX. And we understand the burden on some firms may be greater than others.”Read more: FCA Allows 16,000 Firms to Skip Three Data Collections; Do CFD Providers Benefit?She further pointed out that the regulator will be proportionate where the value of the data does not justify its cost and admitted that harmonisation with international standards might lower costs for firms and improve data quality. Furthermore, the agency will consult on removing fields that are not regularly used.“We will also consider how to be smarter and more efficient with other data we receive, such as EMIR reports, for monitoring derivatives such as FX,” Chambers added.You may also like: ASIC Seeks to Ease Reporting Rules—How Will It Impact CFD BrokersFirms “Must Have Adequate Systems”The FCA regulates CFDs brokers, as well as the broader financial services industry, in the UK. However, according to the regulator, around 20 per cent of CFDs brokers — including spread betting and rolling forex providers — are conducting “little or no activity” and were labelled as “halo” firms. Chambers further stated that the agency intervenes when firms “persistently discharge their responsibilities poorly.” She cited that the regulator recently imposed restrictions on Dinosaur Merchant Bank, preventing it from onboarding any new customers to its CFD business without the FCA’s permission. Notably, Dinosaur does not offer services to retail clients.“Firms providing trading services must have adequate systems and controls to identify and report market abuse,” she added. “Where firms fail to improve after flaws are highlighted, we will act assertively.” This article was written by Arnab Shome at www.financemagnates.com.

Dogecoin, the meme-inspired cryptocurrency that began as a joke, may soon find itself listed on Wall Street. Nasdaq has submitted a formal request to the U.S. Securities and Exchange Commission (SEC) to list an exchange-traded fund holding Dogecoin.Regulatory Approval in ProgressThe application follows 21Shares’ filing on April 10 to create a Dogecoin ETF. Nasdaq’s involvement adds momentum to the proposal, but SEC approval remains a key hurdle. The fund cannot begin trading until the regulator signs off, and that process could take months. The SEC is currently reviewing more than 70 crypto ETF filings, including similar requests for altcoins like Solana and Sui, Cointelegraph reported.This ETF surge comes after President Trump’s new administration urged regulators to take a more crypto-friendly stance. Fund managers like Bitwise and Grayscale have also submitted competing applications as they race to capture demand for altcoin investment products.You may also like: Will Dogecoin Reach $1? Price Climbs 9% as Market Sentiment ShiftsSEC is currently reviewing multiple filings related to the potential listing of Dogecoin-based exchange-traded funds (ETFs). Last month, NYSE Arca sought approval to list Bitwise’s Dogecoin ETF, with Coinbase Custody managing the Dogecoin holdings and Bank of New York Mellon overseeing the cash asset.JUST IN: Bitwise has filed for a spot Dogecoin $DOGE ETF.63% chance it's approved this year. pic.twitter.com/xSv1n5MR1q— Polymarket (@Polymarket) March 3, 2025Nasdaq Pushes for Consistent OversightWhile backing new crypto ETFs, Nasdaq is also calling for stricter and more uniform regulation. In an April 25 letter to the SEC, the exchange argued that digital assets resembling securities should be held to the same standards.Unlike many other meme coins, Dogecoin operates on its own blockchain and uses a proof-of-work mechanism. This makes it functionally similar to Bitcoin but cheaper and faster for small transactions. Currently, Dogecoin has a market cap of nearly $26 billion and traded at $0.1773 at the time of publication.The Road AheadWhether or not the SEC approves 21Shares’ Dogecoin ETF, the growing interest in altcoin-backed funds suggests a broader shift in how traditional finance engages with crypto. If approved, Dogecoin could join the growing list of digital assets accessible via regulated investment vehicles, bringing the meme token a step closer to mainstream portfolios. This article was written by Jared Kirui at www.financemagnates.com.

While XTB welcomed a record number of new clients in the first quarter of 2024, the surge in users failed to offset the impact of declining quarterly net profit. The Polish brokerage's net profit slipped by more than a quarter year over year, from PLN 302.7 million to PLN 193.9 million, according to the company's preliminary financial and operating results for the first quarter of 2025.Weaker Trading Offsets Client BoomXTB’s consolidated income for Q1 2024 came in at PLN 580.3 million, up from PLN 555.9 million in the same period last year—a 4.3% increase.“The ended quarter confirmed the effectiveness of these activities, which allowed the Group to acquire a record number of over 194,000 new customers (+49.8% y/y) and thus exceed the number of 1.5 million total customer milestone (an increase of 51.5% y/y),” the company noted.“At the same time, the number of active clients was also record-breaking, increasing by 76.5% y/y from 416.6 thousand in Q1 2024 to 735.4 thousand.”Revenue increased 24% quarter over quarter to PLN 580.3 million. The company attributed the boost to the increase in the number of active clients and high transaction activity. Operating costs was PLN 315.8 million, a 54% increase compared to PLN 205 million in the first quarter of last year. Expanding Client BaseDespite the revenue pressures, XTB’s growth in client numbers hit new records. The broker onboarded 194,304 new clients in the first three months of the year, and its total number of active clients now exceeds 1.5 million.Beyond payments, XTB made notable progress in its long-term investment offering. In Poland, the company added pending order functionality to its IKE (Individual Retirement Account). UK users can now transfer assets into XTB from their existing ISAs, either fully or partially.But the biggest step came in France, where XTB launched the Plan d'Épargne en Actions (PEA)—a stock and ETF account that allows tax exemptions on capital gains for holdings maintained over five years. Clients can invest up to €150,000 under this scheme, appealing directly to long-term savers in one of Europe’s largest retail investing markets.Geographically, XTB is planning more expansion. The Company expects to start operations in Indonesia in the first half of 2025. In Brazil, XTB is working on getting a license, which should be completed sometime in 2025.In other markets, XTB reportedly obtained a securities agent license in Chile, allowing it to offer ETFs and shares of listed companies worldwide. It now aims to launch operations in the region. In addition, a second office has been opened in Dubai. This article was written by Jared Kirui at www.financemagnates.com.

The Financial Conduct Authority (FCA) is introducing new regulatory measures to support innovation in financial services. The changes are part of an effort to attract international firms and maintain the country’s global position in key financial markets.Jessica Rusu, Chief Data, Information and Intelligence Officer at the FCA, spoke about the new initiatives at the Innovate Finance Global Summit 2025. She said the UK continues to lead in areas such as commercial insurance, derivatives, debt issuance, commodities, and foreign exchange.FCA Announces PASS and AI Live TestingRusu outlined several reforms aimed at supporting this leadership. These include changes to the wholesale market structure and the creation of a new platform to increase access to private market investments.To assist firms considering entry into the UK market, the FCA has launched a pre-application support service. Known as PASS, it is designed for cryptoasset, payments, and wholesale firms. It allows companies to engage with the regulator before submitting formal applications.In line with its support for responsible technology use, the FCA has also announced a new program called AI Live Testing. The initiative allows companies to test generative AI tools under the supervision of the regulator. The aim is to explore how such tools can be used in consumer-facing services without breaching regulatory standards.The live testing service, part of the FCA’s AI Lab, aims to accelerate AI adoption by helping firms ensure their tools are market-ready. It will provide insights into AI’s impact on UK financial markets and run for 12 to 18 months, launching in September 2025.You may find it interesting at FinanceMagnates.com: FCA Allows 16,000 Firms to Skip Three Data Collections; Do CFD Providers Benefit?FCA launches live testing to encourage AI innovation https://t.co/j1o0LrZwvs— FTAdviser (@FTAdviser) April 29, 2025Sandboxes Expanded to Support Market InnovationThe FCA is also expanding its Regulatory Sandbox and Digital Sandbox programs. These offer firms support during the authorisation process and access to financial and market data. According to independent research, participants in these programs are more likely to receive investment and continue operations over time.Rusu said, “Through these market changes, we know consumers and industry look to regulators as a guardian of stability. Having a clear plan for what we prioritise in turbulent times will help financial services, and particularly those who want to innovate and grow their business.” This article was written by Tareq Sikder at www.financemagnates.com.

As crypto adoption surges in the UK, the government has introduced draft legislation seeking to tighten oversight of crypto firms while keeping Britain attractive to investors and innovators.The announcement, made by Chancellor Rachel Reeves at a London fintech summit, could mark a turning point in how the UK approaches digital assets like Bitcoin and Ethereum. “Through our Plan for Change, we are making Britain the best place in the world to innovate and the safest place for consumers. Robust rules around crypto will boost investor confidence, support the growth of fintech, and protect people across the UK,” Rachel Reeves, Chancellor of the Exchequer, commented. A New Regulatory Era for Crypto in the UKWith ownership of crypto assets among UK adults rising from 4% in 2021 to 12% in 2024, the government sees an urgent need to protect consumers from fraud and instability.Under the proposed rules, crypto exchanges, dealers, and agents serving UK customers would need to meet the standards on transparency, consumer protection, and operational resilience, aligning them more closely with traditional financial institutions.The Financial Conduct Authority’s research has also highlighted the risks. As more people get involved in crypto, many remain unaware of the dangers, and some have already fallen victim to scams. The proposed legislation places consumer safety at the heart of crypto regulation.In parallel, Reeves disclosed that the UK and the U.S. are engaging more closely on digital assets. The two countries will continue talks through the UK–U.S. Financial Regulatory Working Group. They are also exploring deeper collaboration on digital securities, including a proposed “transatlantic sandbox” championed by U.S. SEC Commissioner Hester Peirce.Fintech Growth StrategyThat sandbox could allow innovators on both sides of the Atlantic to test products under aligned, cross-border regulatory conditions, potentially transforming fintech's global development.Beyond crypto, the government plans to launch the Financial Services Growth and Competitiveness Strategy on July 15. It will include measures to support long-term growth in financial services, with fintech highlighted as a priority. The final version of the crypto legislation will be released after the industry responds to the draft.The move underscores the UK’s ambition to become a global hub for digital asset technologies while enforcing guardrails to prevent abuse.Early this year, the UK Treasury amended its regulations to separate blockchain validation activities, such as cryptocurrency staking, from collective investment schemes, offering a clearer regulatory guidance for the digital asset industry. This article was written by Jared Kirui at www.financemagnates.com.

Will Bitcoin reach $150,000? When will GTA 6 be released? How many gold cards will Donald Trump sell in 2025? Who will become the NBA champion? While these questions might seem unrelated at first glance, they share a common denominator: event-based contracts, a regulated yet controversial financial instrument offered by companies like Robinhood (NASDAQ: HOOD) and Interactive Brokers (NASDAQ: IBKR).This explosive mixture—resembling a blend of once-popular binary options, sports betting, and coin flipping—is hailed by enthusiasts as the next revolution in retail trading. Regulators, however, fear it's just a backdoor to gambling.Who's right? I decided to go straight to the source to find answers to this intriguing question.What Are Event Contracts?“Event contracts are an asset class that give investors the ability to trade directly on their opinions about a specific yes-or-no question,” states Kalshi, currently one of the main providers of such instruments, on its official website.For example, betting on a contract like “Powell out as Chair this year?” could earn you $395 from a $100 investment if you answer “Yes,” while the same amount bet on “No” would yield only $128. Everything depends on the probability of the event occurring, which changes dynamically based on how users vote on the platform.You can bet on virtually anything: politics, sports, cryptocurrencies, culture, climate change, company results, technological discoveries, and major world events.“Event contracts have generated high demand because they provide a maximally direct way to get exposure to events that affect businesses, people, and the economy, and they provide the most accurate signal on what the likelihood of future events are,” commented Jack Such from Kalshi, responsible for Business & Media Development, to FinanceMagnates.com.All this comes with the “blessing” of the CFTC, which Kalshi received in 2020, enabling the launch of the first regulated event contracts exchange over three years ago. The problem, however, is that regulators are no longer looking so favorably on the growing popularity of these instruments, and the bone of contention remains whether some of them are investments or already “gaming.”A Trillion Dollar Asset ClassDespite the regulatory controversies surrounding event contracts, Such remains optimistic and claims that in 2024, Kalshi's prediction markets showed an “astronomical rate of growth.”“We are confident that prediction markets will become a trillion dollar asset class,” he added.His words are also confirmed by Robinhood, which offered its first event contracts in 2024, before the US presidential election. “Our Presidential Election Market was very popular,” Robinhood commented.“In roughly a week leading up to the election, over half a million people opened a Robinhood account and more than half a billion contracts were traded,” the company added.How much money is actually in this market? Looking at the largest contracts in terms of volume, they typically attract investments of several tens of millions of dollars. The contract for “Bitcoin price today at 5pm EDT?” is the only one exceeding $150 million. Others, also focused on Bitcoin price, S&P 500, Nasdaq, or Fed decisions, have attracted between $30 and $70 million in trading volume.It is difficult to obtain more comprehensive data. A year ago, the platform reported a five-fold increase in active users and volume growth of 50%, without providing specific figures.However, in March, the NCAA “March Madness” basketball tournaments attracted a record $200 million in volume, representing approximately 10% of the total legal betting handle estimated for the NCAA tournaments.As for Robinhood, although HOOD is a publicly traded company, it doesn't publish separate data for event contracts, which it launched during Q4 2024. From the latest report summarizing 2024, we can see that the “options and futures” assets under custody (AUC) category, which includes event contracts, grew by 120% compared to 2023, from $0.6 billion to $1.8 billion. However, this category encompasses futures, options on futures and swaps, as well as the aforementioned contracts.However, looking at the popularity of Polymarket—a blockchain-based, unregulated prediction market—it is reasonable to estimate that this industry is either already large or has significant growth potential. Polymarket’s trading volume grew in 2024 from just $50 million to an average of $1 billion per month, peaking at a record $2.6 billion in November during the U.S. election cycle. Over the course of 2024, the total trading volume reached approximately $9 billion, with more than 314,000 active users.CFTC's Legal Battle with Kalshi Over Political ContractsThe regulation of event contracts in the US dates back to the late 19th and early 20th centuries when “bucket shops” allowed individuals to bet on stock prices without owning shares. Currently, CFTC established clear prohibitions on certain types of event contracts. Specifically, CFTC Regulation 40.11 prohibits contracts that involve or reference terrorism, assassination, war, and gaming activities.In May 2024, the CFTC issued proposed amendments to further clarify what constitutes “gaming” activities and other prohibited event contracts. The proposed definition of “gaming” would include staking or risking something of value upon specific outcomes or occurrences.Political event contracts have been particularly controversial. The CFTC has been engaged in a prolonged legal battle with Kalshi regarding this type of instrument. In January, the United States Court of Appeals for the District of Columbia Circuit heard oral arguments in a case centered on Kalshi's ability to list political event contracts for trading.The Wire Act is indeed a major problem for Kalshi. But CFTC Rule 40.11(a)(1) is even worse. A case killer. It’s a blanket prohibition against any event contract that involves “gaming” or “activity that is unlawful under any Federal or State Law.”Not raised (yet) by Nevada. pic.twitter.com/jVyVNX68JJ— Daniel Wallach (@WALLACHLEGAL) April 17, 2025The dispute began in June 2023 when Kalshi self-certified that its planned Congressional Control Contracts (which allow users to predict which political party would control each chamber of Congress) complied with federal requirements.Kalshi challenged the CFTC's decision, arguing the regulator exceeded its statutory authority. In September 2024, a district court ruled in Kalshi's favor, finding that the political event contracts did not “involve” either gaming or unlawful activity. The CFTC appealed this decision, leading to the January 2025 oral arguments where the D.C. Circuit expressed “particular discomfort with the CFTC's expansive view of its authority.”Sports Contracts Also Face Regulatory PushbackIn February, Robinhood and Kalshi were forced to pull their Super Bowl event contracts at the request of the CFTC, just days after announcing their offering. The “Pro Football Championship” event contract would have allowed users to bet on the outcome of the Super Bowl. Despite Kalshi having submitted a request for approval to introduce sports event prediction contracts in January, the CFTC pushed for the contracts to be withdrawn.The Commodity Futures Trading Commission (CFTC) has formally requested that Robinhood Derivatives, LLC (RHD) “not permit customers to access” sports event contracts.While we continue to work with the CFTC to understand their concerns, we are suspending the rollout of the Pro…— Robinhood Comms (@RobinhoodComms) February 4, 2025When I asked Robinhood about event contracts and the controversies they raise, I was referred to their Policy Paper on prediction markets, published in March.“Prediction markets can be particularly valuable in fields such as finance, politics, and technology, among others, where decision-makers seek the best possible insights to navigate an unpredictable future,” commented Oliver McIntosh, Senior Product Communications Manager at Robinhood.At the same time, Crypto.com also withdrew from offering these instruments. Although the company wants to continue offering them in the future and in February its press office commented that “We firmly believe in the legality of our events contracts and believe the CFTC is the appropriate regulator,” they declined to provide FinanceMagnates.com with a more detailed comment on the matter.Interestingly, just a week after Robinhood and Crypto.com withdrew their Super Bowl contracts, Webull decided to enter this market. Even more curiously, in announcing this decision, they even used the term “binary” event contracts. Can't get much closer to binary options, right?However, it seems that these firms are confident in their compliance with regulations governing such instruments. Webull, which only recently made its stock market debut, would likely be keen to avoid any unnecessary complications and regulatory hurdles. Robinhood Carries On UndeterredIn mid-March, Robinhood announced that it was expanding its offering with new prediction markets, allowing speculation on decisions the Federal Reserve might make regarding interest rates or the outcomes of college basketball games. At least initially, with the possibility of expanding the offering over time.The company confirmed that it is in close discussions with the CFTC and intends to maintain compliance with regulations while expanding the range of instruments offered.Starting today, you can now trade contracts on the men's and women's college basketball tournaments. See you at tip-off: https://t.co/WXpUDpYBJO pic.twitter.com/fRF6xhr0Xd— Robinhood (@RobinhoodApp) March 17, 2025“We have been in close contact with the CFTC over the past several weeks and look forward to continuing to work with them to promote innovation in the futures, derivatives and crypto markets,” commented McIntosh.Interactive Brokers is also stepping up its game. In early April, the company announced the expansion of its prediction markets offering beyond the United States to include Canada. And although everyone around claims that everything is in perfect order, the market watchdog sees the matter somewhat differently.CFTC Has “Serious Concerns”“The CFTC has serious concerns about FCMs offering access to their customers to any contract that may not be permissible under the law and will exercise its oversight authority to the fullest extent as appropriate,” told CFTC spokeperson.“FCMs have strict duties and obligations pursuant to the CFTC's customer protection rules and are held to the highest standards to safeguard the public,” the CFTC added, as quoted by Reuters.State regulators have also gotten involved. As FinanceMagnates.com reported in late March, Nevada, America's gambling capital that earns fortunes from Las Vegas, is also having problems with Kalshi contracts.Kalshi just filed suit in federal court against the states of Nevada and New Jersey. As promised, Kalshi will keep fighting for the right of prediction markets to thrive.Over the last decade, the concept of objective truth has been dangerously eroded by aggressive… pic.twitter.com/sgJtJXz6Pj— Tarek Mansour (@mansourtarek_) March 30, 2025“Some Event Contracts Are Structured as Binary Options”Although event contract providers claim they have nothing to do with binary options, which were banned many years ago in Europe due to their gambling nature, Kalshi confirmed to FinanceMagnates.com that some of them “are structured as binary options.”However, they can also take a different structure, depending on the type of event the underlying market is based on, “such as events where multiple options can resolve YES.”“The accuracy and flexibility of these markets makes them a critical tool for managing risk, making the world a smarter and more stable place,” explains Kalshi, defending itself against accusations of offering binary options in a new guise.While Kalshi is often considered a pioneer in this space, the Chicago Mercantile Exchange (CME) Group—one of the world’s largest derivatives marketplaces—was also among the early players back in 2022. However, the nature of CME’s instruments was purely financial, focusing on end-of-day price movements of key futures markets such as natural resources, currencies, and indexes. Apparently, regulators view a contract based on the EUR/USD exchange rate differently than one based on the outcome of a sporting event.For comparison, the blockchain-based Polymarket can offer a wide range of contracts, including those related to gambling, war, or “anything deemed not in the public interest.” Kalshi is “limited” here by the regulator. The question remains, however: wouldn't this regulated instrument still be closer to gambling and binary options than to real investing? This article was written by Damian Chmiel at www.financemagnates.com.