Kraken steps into prop trading Prop trading is attracting a new market segment: crypto. This week, Kraken acquired Breakout, a proprietary trading firm that provides traders with access to capital for executing strategies. The acquisition marks Kraken as the first cryptocurrency exchange to enter the proprietary trading space. NEW: Kraken acquires Breakout to launch performance-based prop trading on Kraken Pro pic.twitter.com/bcyD8aMih6 — Blockworks (@Blockworks_) September 4, 2025 Unlike t...| Retail FX – Finance Magnates | Financial and business news
The U.S. Securities and Exchange Commission has taken a major step to protect American investors from fraud originating overseas. By forming a dedicated Cross-Border Task Force, the regulator aims to identify and combat manipulative practices by foreign companies seeking access to U.S. markets. Focus on Foreign-Based Manipulation The newly established task force will initially investigate potential violations of U.S. federal securities laws tied to foreign companies. Among its priorities are ...| Retail FX – Finance Magnates | Financial and business news
Dukascopy Bank SA has warned traders and investors after identifying 18 fraudulent websites pretending to be its official platform. According to the CFD broker, these clones are designed to trick users into sharing personal information and misrepresent the bank’s services. The move underlines the growing risk of online scams in the financial sector. “These websites are not controlled and do not belong to Dukascopy Bank, Dukascopy Europe, Dukascopy Japan, or any other entity of Dukascopy G...| Retail FX – Finance Magnates | Financial and business news
The Cyprus Securities and Exchange Commission has issued an amending directive restricting the marketing, distribution, and sale of contracts for difference to retail clients. The update revises the existing rules on CFDs to retail investors. Under the amendment, a 10% notional value cap has been introduced for CFDs on certain previously unlisted commodities and stock indices, limiting the leverage retail investors can take. The directive takes effect from its publication in the Official Gaze...| Retail FX – Finance Magnates | Financial and business news
The Financial Conduct Authority has opened an investigation into whether the London Stock Exchange Group and the landlord of the LSE data centre building have restricted competition for low latency connectivity services between trading venues. LLCS providers build high-speed links between venues, enabling trading firms to execute transactions in very short timeframes. To maximise speed, providers often place radio equipment close to the exchanges. At present, only LSEG is allowed to use the r...| Retail FX – Finance Magnates | Financial and business news
The Cyprus Securities and Exchange Commission has published a policy outlining fees for financial entities under the EU’s Digital Operational Resilience Regulation. Annual supervision fees will range from €2,000 to €20,000 based on entity size, while threat-based penetration testing carries a €20,000 assessment fee. Regulator Outlines Fee Schedule and DORA Obligations for Firms Firms must declare their category between October 2 and October 31, based on their latest audited financial ...| Retail FX – Finance Magnates | Financial and business news
EC Markets UK closed 2024 with stronger earnings as revenue nearly doubled year-on-year. The forex and CFD brokerage reported higher profits and an improved balance sheet, underlining a year of growth despite rising costs. Revenue Jumps Close to 90% According to Companies House, the company posted a turnover of $3.24 million for 2024, compared with $1.71 million the previous year. Cost of sales rose to $979,251 from $358,100, but gross profit still increased to $2.26 million from $1.35 millio...| Retail FX – Finance Magnates | Financial and business news
Kraken, a cryptocurrency technology platform, announced it has acquired Breakout, a proprietary trading firm. Breakout provides traders access to capital for executing strategies and allows them to trade crypto through funded accounts after passing an evaluation, without using personal funds. Kraken is the first cryptocurrency exchange to enter the proprietary trading space. Unlike traditional prop trading firms, which provide funded accounts to traders without offering an exchange platform, ...| Retail FX – Finance Magnates | Financial and business news
The Cyprus Securities and Exchange Commission (CySEC) has officially withdrawn the investment license of FIBO Markets Ltd, finalizing a process the forex broker initiated late last year. CySEC announced the decision was made during its Aug. 25 meeting, formally revoking the company's Cyprus Investment Firm (CIF) authorization number 118/10. The regulator cited FIBO Markets' express renunciation of its license as the reason for the withdrawal. FIBO Markets Loses Cyprus License The move caps a ...| Retail FX – Finance Magnates | Financial and business news
Increased Custody Options to Give Stablecoins a Boost Many of the world’s largest banks have increased their crypto custody strategies recently. Earlier this year, both State Street and JPMorgan Chase announced plans to introduce a cryptocurrency custody service line in 2026, and US Bancorp has refocused on this service line. Now, we hear that Citi is looking to follow suit, with the global head of partnerships and innovation for the bank’s services division stating that it is prioritisin...| Retail FX – Finance Magnates | Financial and business news
Danish online trading platform Saxo has joined the Platforms Association, a UK industry group that represents investment platform providers across Britain and Europe. Saxo Joins The UK Investment Platforms Trade Body The membership comes just over a year after the association launched in September 2024 to give platforms a collective voice on regulatory and policy issues. Saxo joins other firms offering ISAs, pensions and investment accounts to retail customers and financial advisers. The Cope...| Retail FX – Finance Magnates | Financial and business news
Valutrades Limited, a UK-based online foreign exchange (FX) and contracts-for-difference (CFD) broker, posted a smaller annual loss for 2024 despite facing headwinds from reduced client activity and declining revenue. The London-based company reported a net loss of £2.59 million for the year ended December 31, 2024, compared to a loss of £3.82 million in 2023. While revenue increased 27% to £1.94 million from £1.52 million the previous year, the company attributed its improved bottom line...| Retail FX – Finance Magnates | Financial and business news
IG Group (LSE: IGG) has started a new £125 million share buyback program, appointing Morgan Stanley as the executing broker for the multi-month initiative. The FTSE 250 company announced the program in July and confirmed today (Thursday) that Morgan Stanley will handle purchases according to predetermined parameters. The buyback aims solely to reduce IG Group's share capital, with all purchased shares moving into treasury rather than being canceled. IG Group expects the program to wrap up by...| Retail FX – Finance Magnates | Financial and business news
New Zealand's financial markets watchdog wants to hear from the industry about how tokenization might reshape domestic markets, launching a consultation that could influence future rules for blockc...| Financial and Business News | Finance Magnates
Octa Markets Cyprus’ majority shareholder has lost his voting rights after the Cyprus Securities and Exchange Commission (CySEC) moved to restrict his management influence over the firm. Regulator Cuts Influence CySEC said Prozorov’s role as ultimate beneficial owner was “prejudicial to the sound and prudent management” of the firm. At its August 25 meeting, the regulator voted to suspend the exercise of his voting rights, which cover 95% of the company’s share capital. Prozorov is ...| Retail FX – Finance Magnates | Financial and business news
Premier League clubs got stung for more than £22 million in hidden foreign exchange (FX) fees during this summer's transfer window, according to new analysis that exposes how currency brokers quietly skim millions from European player deals. The data from financial platform Glyde tracked 71 permanent transfers between June 16 and September 1, focusing on moves where English clubs had to convert pounds to euros to sign players from leagues like the Bundesliga, La Liga and Serie A. What they f...| Retail FX – Finance Magnates | Financial and business news
Financial regulators have filed charges against two former executives of Synapse Brokerage, alleging their failures led to over $100 million in customer funds being frozen and inaccessible for months. The Financial Industry Regulatory Authority (FINRA) charged Jeffrey Stanley, the firm's former CEO, with failing to properly supervise a cash management program that ultimately left millions of customers unable to access their money. Mark Paverman, the former chief compliance officer, faces char...| Retail FX – Finance Magnates | Financial and business news
Australia's financial market watchdog has eliminated more than 9,240 pages of regulatory content this year as part of a sweeping effort to streamline rules that businesses say have become too complex and costly to navigate. ASIC Cuts Thousands of Pages of Red Tape in Regulatory Overhaul The Australian Securities and Investments Commission (ASIC) released a report today (Wednesday) outlining its first wave of simplification efforts, which include consolidating dozens of legal instruments and l...| Retail FX – Finance Magnates | Financial and business news
Japanese online trading giant SBI Securities, known for offering mainstream assets, has launched cryptocurrency contracts for differences (CFDs), the first crypto product on its platform. The broker has added CFDs on a range of popular cryptocurrencies, including Bitcoin, Ethereum, XRP, Solana and Dogecoin. The platform will also allow crypto CFD trading over the weekend. B2C2 as Liquidity Provider The trading service provider has onboarded B2C2 as the primary liquidity provider of its crypto...| Retail FX – Finance Magnates | Financial and business news
August brought a mix of steady trading and expanding client wealth for Interactive Brokers. The brokerage reported significant year-on-year increases in equity and margin loan balances while daily trading activity remained largely unchanged from July. Trading Activity Holds Steady Interactive Brokers reported that daily average revenue trades (DARTs) were 3.49 million, up 29% from August 2024 but roughly flat month-on-month. On a per-account basis, clients executed an annualized average of 18...| Retail FX – Finance Magnates | Financial and business news
AETOS, which gave up its United Kingdom licence last June, has now closed down its offshore operations under the Mauritius-licensed entity, FinanceMagnates.| Financial and Business News | Finance Magnates
Admirals Group AS has released its unaudited financial results for the first half of 2025. The period saw lower client trading activity across the Group’s core European markets.| Financial and Business News | Finance Magnates
Australia's financial regulator shut down MWL Financial Services and banned its managing director for a decade following what officials described as serious failures in how the firm handled client ...| Financial and Business News | Finance Magnates
Australia's securities regulator has taken down more than 330 fake investment websites this year that use images of prominent billionaires to trick people into bogus get-rich-quick schemes, marking...| Financial and Business News | Finance Magnates
Capital.com, the contracts for differences (CFDs) broker owned by billionaire Viktor Prokopenya, might be planning to launch physical cryptocurrency services.| Financial and Business News | Finance Magnates
IG CEO made $4.5M in FY25 . This week’s recap highlights interesting figures in executive pay in the CFD brokerage sector. IG Group CEO Breon Corcoran became the second-highest-paid chief among Lon...| Financial and Business News | Finance Magnates
Hirose Financial, which offers forex and contracts for differences (CFDs) trading services, has suspended onboarding new retail traders under its United Kingdom and Labuan-regulated entities, Finan...| Financial and Business News | Finance Magnates
Victoria Fineberg, a “person closely associated” with CMC Markets’ Deputy CEO, David Fineberg, has sold about £252,000 worth of shares in the London-listed broker this week, according to the latest...| Financial and Business News | Finance Magnates
Plus500, a fintech group known for its contracts for difference (CFDs) trading platform, has formed a partnership with Barchart, a U.| Financial and Business News | Finance Magnates
The European Securities and Markets Authority (ESMA) dropped its final market abuse guidelines for crypto firms. These 12 specific rules will reshape how every crypto business (and not only) operat...| Financial and Business News | Finance Magnates
Australia's financial market watchdog has uncovered significant compliance failures across the managed investment sector. The responsible entities have overseen nearly $1 trillion in assets that ha...| Financial and Business News | Finance Magnates
The Commodity Futures Trading Commission (CFTC) added 43 more foreign entities to its RED List in the latest warning to U.S. investors about unregistered operators offering trading services without...| Financial and Business News | Finance Magnates
A U.S. federal judge has dismissed the Commodity Futures Trading Commission’s (CFTC) complaint against Traders Global Group Inc., the parent company of My Forex Funds, with prejudice.| Financial and Business News | Finance Magnates
A Special Master has recommended that a U.S. court impose sanctions and "dismiss with prejudice" the case brought by the Commodity Futures Trading Commission (CFTC), accusing the agency of delibera...| Financial and Business News | Finance Magnates
Admirals Group AS reported a net loss of 1.6 million euros for the fiscal year 2024, a significant improvement from the 9.7 million euro loss in 2023.| Financial and Business News | Finance Magnates
The authorities in Malaysia have received 72 complaints from alleged victims of TriumphFX, which, according to locals, is a fraudulent offshore forex broker.| Financial and Business News | Finance Magnates
Plus500 (LON: PLUS) entered the United States futures market in 2021, which has now become “strategically important” for it and “represents a multi-year growth opportunity.| Financial and Business News | Finance Magnates
The legal representatives of Traders Global Group, operating as My Forex Funds, are seeking sanctions against the Commodity Futures Trading Commission.| Financial and Business News | Finance Magnates