Kalshi has raised more than $1 billion in new funding, valuing the prediction market platform at $22 billion, according to people familiar with the matter. The funding round comes amid a fresh setback in Nevada, where a state court imposed a 14‑day restraining order forcing the prediction market to stop offering sports, entertainment and election contracts while regulators press their case that it is operating as an unlicensed gambling operator.Kalshi was temporarily barred by a judge from offering its prediction market contracts in Nevada, after state regulators said the company didn’t have a gaming license. https://t.co/in8URVlJWj— Bloomberg (@business) March 20, 2026The order, issued by Nevada’s First Judicial District Court after a federal appeals panel cleared the way for state enforcement to proceed, bars Kalshi from taking bets in the state at least until an April 3 hearing on the longer‑term status of prediction markets there.Funding Led by CoatueThe Wall Street Journal reported that Coatue led the latest investment, which follows a previous $1 billion round backed by Paradigm, Sequoia Capital, Andreessen Horowitz, ARK Invest, and CapitalG. The round, led by Coatue Management, doubles the company’s valuation from December, when it was worth about $11 billion.Kalshi’s annualized revenue has reached about $1.5 billion, with trading volume in February topping $10 billion—twelve times higher than six months ago. The funding highlights continued investor interest in prediction markets, despite political and regulatory challenges surrounding the sector’s legality and oversight.Keep reading: Polymarket Grabs Nearly 55% of Prediction Markets as Iran Bets Test CFTC CrackdownThe latest setback in Nevada underscores how exposed Kalshi still is to state-level enforcement, even as investors mark it up to $22 billion. In February, a panel of judges on the U.S. Court of Appeals for the Ninth Circuit refused Kalshi’s emergency bid to pause civil action by Nevada regulators, effectively clearing the way for the state to move ahead with allegations that the CFTC-regulated platform is running unlicensed sports betting under the guise of prediction markets.Join the inaugural Finance Magnates Singapore Summit 2026, which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC.Legal experts say the ruling strengthens the hand of state gaming boards in their clashes with federally supervised event-contract venues, and it adds to a growing list of forums where Kalshi has struggled to convince courts that commodity-derivatives rules preempt traditional gambling law.Legal Scrutiny MountsArizona’s attorney general this week filed criminal charges accusing Kalshi of operating an illegal gambling business. The company denied the claims, saying it remains compliant under federal rules. Kalshi operates as a federally regulated exchange under the Commodity Futures Trading Commission, which allows it to offer event-based contracts nationwide.An Ohio federal judge recently refused Kalshi’s request to block state enforcement, saying Ohio’s power to regulate gambling outweighs the company’s arguments about how its platform operates. The Arizona case is the first time a state has brought criminal charges against Kalshi. The move also pushes back against a growing effort in Washington to put prediction markets under federal control alone, widening the rift between U.S. regulators and state authorities. CFTC Chair Michael Selig has taken a more aggressive stance, ordering the agency to step into court fights and arguing that federal derivatives law, not state gambling rules, should govern event contracts. He portrays the string of state actions against Kalshi, Coinbase, Crypto.com and Polymarket as part of a coordinated state-level campaign. This article was written by Jared Kirui at www.financemagnates.com.

After a week of geopolitical shock, prediction markets have returned to routine. Trading continues, positions are opened and closed, and the machinery keeps running. On the surface, it looks like business as usual. But a few developments were hard to miss. Platforms have started testing price competition, while banks and regulators are raising more questions about insider trading — a sign they are beginning to take the risks of this market more seriously. Here’s what mattered this week. What Moved Prediction Markets This Week Pricing Starts to Matter One of the more practical shifts this week came from pricing. MEXC introduced zero-fee trading, a model familiar from crypto and derivatives, showing platforms are now competing more directly for trading flow. shift changes the focus. When pricing becomes part of the competition, traders begin to compare execution, liquidity, and product quality — not just access. Rules Are No Longer Theoretical Banks are beginning to apply insider trading frameworks to prediction markets, treating them as an extension of existing financial activity. Enforcement is moving in parallel. Kalshi is facing charges in Arizona over alleged unlicensed gambling activity, highlighting how differently these markets can be interpreted depending on jurisdiction. Prediction markets are being tested against the same legal frameworks as everything else.Kalshi’s CEO called the Arizona charges “a clear overreach,” framing the case as a broader fight over federal versus state authority.The rule of law applies to everyone - including state governments.The Arizona Attorney General’s charges are baseless and a clear overreach. It’s gamesmanship from a politician who’s up for reelection.The charges claim that putting money on “a contingent future event or… https://t.co/TU4I8HV1CT— Tarek Mansour (@mansourtarek_) March 18, 2026 Liquidity Concentrates, Institutions Hesitate Polymarket now accounts for roughly 55% of global prediction market activity, with geopolitical events continuing to drive volume. The platform also signed a partnership with Major League Baseball, giving it access to official data for event-based contracts — a step toward more structured inputs. However, strong liquidity and high-profile partnerships have not yet translated into institutional participation. Reports suggest funds are actively monitoring the space but are not trading. The reasons are familiar: regulatory uncertainty, uneven liquidity, and unresolved questions about how these contracts should be classified. For now, prediction markets are visible — but not yet widely used by institutional investors. Quote of the Week After a period of lawsuits and uncertainty, the Commodity Futures Trading Commission is starting to define its position more clearly. The agency released long-awaited guidance and opened a rule-making process, signalling that prediction markets are now firmly on its agenda.Prediction markets are one of the most exciting innovations in financial markets. Yet for too long, the @CFTC has failed to provide guidance for these markets being used by millions of Americans. This ends today. Read what steps the agency is taking here⬇️…— Mike Selig (@ChairmanSelig) March 12, 2026 Number of the Week $600 million. That’s how much state regulators say they are losing in sports betting tax revenue as prediction markets operate outside existing licensing frameworks. Authorities in eleven U.S. states have issued cease-and-desist orders against prediction market platforms, arguing they effectively function as unlicensed sportsbooks. The Friction of the Week If prediction markets can’t be stopped, they are likely to be steered. That seems to be the logic emerging on the regulatory side. The Commodity Futures Trading Commission has begun clarifying how these markets should operate, releasing guidance and opening a formal rule-making process. At the same time, state regulators are taking a different approach — issuing cease-and-desist orders and treating the same activity as unlicensed gambling. The result is a split system. Until that gap closes, the market will keep operating in both worlds at once. Bottom Line This week reinforced an ongoing trend. Prediction markets are now being treated like markets — priced, regulated, and questioned on the same terms as everything around them. But that process is uneven. They were built to price uncertainty. Now they are being tested by it. This article was written by Tanya Chepkova at www.financemagnates.com.

Coinbase has launched stock perpetual futures for eligible non-US users, expanding its offering of crypto, equities, and prediction markets. The launch comes as perpetual futures have gained broader adoption, with monthly volumes on decentralized exchanges exceeding US$1.2 trillion in 2025, as investors used perps to manage risk amid flat spot markets.“Everything Exchange” Adds Equity Perpetuals AbroadThe company said in a blog post on Friday that the product is not available to US persons at this time, but it is “working to expand this offering to additional regions in the future.”Join the inaugural Finance Magnates Singapore Summit 2026, which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC.The contracts are accessible on Coinbase Advanced for retail users and Coinbase International Exchange for institutions. They provide leveraged, cash-settled exposure to major US stocks and indices, including Apple and Nvidia, in a format familiar to crypto traders.The launch follows Coinbase’s earlier moves to offer regulated crypto futures and 24/5 cash equities in the US, alongside Kalshi-powered prediction markets in all 50 states. The company has described its platform as an “everything exchange” where users can switch between tokens, stocks, and event contracts.Equity Perpetuals Available Outside United StatesStock perpetuals form a central part of Coinbase’s 2026 strategy, which emphasizes stablecoins, its Base layer-2 network, and a multi-asset brokerage model. ?JUST IN: COINBASE LAUNCHES 24/7 STOCK PERPETUAL FUTURES FOR NON-U.S. TRADERS@Coinbase has launched perpetual futures on U.S. equities for non-U.S. traders, offering round-the-clock exposure to Apple, Microsoft, Nvidia, and S&P 500 ETFs with up to 20x leverage.The product… pic.twitter.com/DxSoqD5YXS— BSCN (@BSCNews) March 20, 2026Coinbase CEO Brian Armstrong said in January that the company’s top priority is to expand the everything exchange globally across crypto, equities, prediction markets, and commodities, covering spot, futures, and options.Currently, the equity perpetuals are available only to non-US customers. In Europe, Coinbase launched perpetual futures for Coinbase Advanced users in 26 countries under its Markets in Financial Instruments Directive entity earlier in March. This article was written by Tareq Sikder at www.financemagnates.com.

XTB reported its highest-ever annual revenues in 2025, but the broker's bottom line told a different story as a near-doubling of marketing expenditure and swelling headcount costs dragged net profit down by almost a quarter, according to the company's consolidated annual report published today (Friday).The Warsaw-listed fintech (WSE: XTB) generated total operating income of PLN 2.15 billion last year, up 14.6% from PLN 1.87 billion in 2024. Net profit, however, fell to PLN 644.2 million from PLN 856.9 million a year earlier, a 24.8% decline that the company attributed to a PLN 427 million increase in operating costs."2025 was a breakthrough year for XTB,” Omar Arnaout, the CEO of XTB, commented. “It was during this period that we fully saw the results of strategic decisions made in previous years - both in terms of the scale of our operations, growth momentum, and the increasing trust of clients worldwide."Marketing Tab Climbs to PLN 585 MillionThe most significant driver of the earnings compression was marketing spend, which climbed PLN 240 million year-on-year to PLN 584.9 million, an increase of nearly 70%. The company said the rise reflected broader online and offline campaign activity, including what it described as its largest-ever global branding push in the second half of the year.[#highlighted-links#] Salaries and employee benefits rose 32.6% to PLN 413 million, while other external services, including IT systems and licenses, increased 67.7% to PLN 132.8 million. Total operating expenses reached PLN 1.31 billion, up 48.2% from PLN 886.7 million in 2024.The cost surge coincided with a deliberate push to accelerate client acquisition. XTB added 864,286 new clients during the year, up 73% from 498,438 in 2024, and the firm's total client base crossed 2.16 million. As FinanceMagnates.com reported in February, Chief Executive Omar Arnaout has said reaching two million new clients annually "is completely realistic" within a few years, noting it took the firm 20 years to accumulate its first million accounts. The number of active clients grew 69.7% to just over 1.19 million.Profitability Per Lot Feels the SqueezeWhile volume metrics improved sharply, the revenue generated from each unit of activity fell. Profitability per lot in CFD derivatives declined to PLN 215 from PLN 275 a year earlier, a 21.8% drop. CFD turnover in lots rose 41.3% to 8.87 million, while turnover by notional value in CFDs climbed 83% in dollar terms to $4.81 billion. Revenue from the retail business grew 17.4% to PLN 2.1 billion, while institutional revenue through the X Open Hub brand fell 48.3% to PLN 42.5 million, reflecting lower liquidity provision activity in that segment.From a geographic perspective, Central and Eastern Europe remained the largest contributor, generating PLN 1.45 billion in consolidated operating income, up 18.1% year-on-year. Poland alone accounted for approximately 54.4% of consolidated revenues, the company said. XTB captured 441,500 new Polish brokerage accounts in 2025, representing about 33% of all securities accounts registered with Poland's Central Securities Depository, KDPW.Gold and Index CFDs Drive Revenue MixCommodity CFDs, driven largely by gold, natural gas, and cocoa, accounted for 43.7% of gross revenue from financial instrument operations, the company said, while index-based CFDs grew their share to 36.0% from 33.3%, buoyed by strong turnover on instruments linked to the US 100, German DAX, and US 500 indices. Revenue from stocks and ETFs more than doubled to PLN 78.3 million, up 155.5% from PLN 30.7 million in 2024, as XTB continued developing its investment plans and savings products. Net interest income on client cash rose 32.3% to PLN 78 million, reflecting a 56.3% increase in client cash balances, partly offset by lower prevailing interest rates compared to the prior year."The year 2025 demonstrated that we are capable of growing dynamically, while also acting responsibly and with a long-term perspective,” the CEO of XTB concluded.Shares Test Four-Month Lows After ReportThe release of the full annual report weighed on the stock Friday. XTB shares fell more than 3.3% in Warsaw trading, testing intraday lows of 91.24 zlotys, the steepest single-session decline since November 13, 2025. The selloff, while notable, leaves the stock within range of its all-time high of 96.94 zlotys, which the shares touched on March 10. Analysts at Noble Securities had maintained a "buy" rating on the stock in January, with a price target of 95.70 zlotys, citing expectations of a financial rebound in the fourth quarter driven by higher trading volatility and client inflows.Looking ahead, XTB said it plans to introduce spot cryptocurrency trading, a redesigned version of its investment plans product, extended trading hours, and options trading capabilities. The firm also received a brokerage license in Chile in February 2025 and obtained authorization to operate in Brazil, though it said it paused further Brazilian development to focus on the Chilean market and monitor Latin American conditions. The CEO has highlighted spot crypto as a key tool to reduce the group's dependence on CFD revenue, which still accounts for the vast majority of income, toward a more diversified model over the medium term. This article was written by Damian Chmiel at www.financemagnates.com.

Silver price is having a brutal week. The metal has fallen for four straight sessions, losing nearly 20% from Monday's closing highs in what is turning into one of the sharpest multi-day corrections of 2026. On Friday, March 20, 2026, spot silver is down over 1% and trading near $72 per ounce - its lowest price since early February and now deeply into the support zone that has stopped every significant selloff since the start of this year. The question that every silver trader is asking right now is the same one I am asking on my chart: is $70 going to hold for the third time, or is this the break that opens the real downside?In this article, I will break down technical analysis of the XAG/USD chart, examine why the metal is selling off so hard, and compile the most significant silver price predictions for 2026. Based on my over 15 years of experience as an analyst and retail investor, here is what I am watching.Follow me on X for real-time silver market analysis: @ChmielDkWhy Silver Is Crashing? The Fed Delivered a Body BlowWednesday's Federal Reserve decision was the trigger, but the setup had been building for weeks. The Fed held rates at 3.5%-3.75% and revised its 2026 dot plot down to just one cut, citing persistent inflation from oil prices elevated by the Strait of Hormuz situation. For silver - which had run from $40 to $121 in roughly fourteen months almost entirely on dovish Fed expectations and dollar weakness - the signal hit like a sledgehammer. The hawkish hold pushed the Dollar Index above 99.9 and Treasury yields to 4.2%, both direct headwinds for non-yielding precious metals.Silver amplifies gold's moves in both directions, and my Thursday gold analysis confirmed exactly that pattern: gold dropped 6% over two sessions while silver dropped nearly 20% from its weekly high. Join the inaugural Finance Magnates Singapore Summit 2026, which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC.Silver Technical Analysis: $70 Holds for the Third Time - For NowAs my chart shows, silver has fallen for four consecutive sessions and from Monday's intraday peak to Friday's low near $71, the decline is approaching 20%. However, the most important observation on my chart is not the scale of the fall - it is what is happening at the bottom. The $70 support level has now held for the third time since the start of 2026. That is not a coincidence. It represents a genuine zone where buyers have repeatedly stepped in, and as long as it continues to hold on a closing basis, the consolidation structure I have been tracking for six weeks remains intact.In the context of swing trading this consolidation, the current position at the bottom of the range - with $70 holding - points to a bounce back toward the upper boundary as the higher-probability near-term move. The path upward has obstacles: a local resistance around $80.50, defined by the December 26 highs, will create friction on any recovery. Above that, the upper consolidation boundary at $90-$94 - last tested on February 27 and March 2, where a bearish engulfing pattern caused a sharp reversal - remains the ceiling of the range.But I must be honest about the downside scenario on my chart, because it is serious. A daily close below $70 changes everything. Below that level, the next meaningful support is the 200-day MA at approximately $62. Below $62, the final structural support before a truly significant retracement is the October 2025 historical highs at $55 per ounce.From Friday's $72, that extreme scenario represents a potential decline of approximately 25%. The Cycle Warning: A 3-4 Year Bear Market?Most silver commentary focuses on the next few weeks. @CyclesFan is thinking in years. His January 28 post - which generated 37,000 views - delivered a blunt warning: "This is going to end badly. We have a 7-year cycle low coming in late 2029. Once this parabolic rally tops, if it hasn't topped already, silver is headed into a 3-4 year bear market."This is going to end badly. We have a 7 year cycle low coming in late 2029. Once this parabolic rally tops, if it hasn't topped already, silver is headed into a 3-4 year bear market.https://t.co/Er8v7bxscP— CyclesFan (@CyclesFan) January 28, 2026Whether the January 29 high was the cycle top that he was warning about, or whether it was only a temporary peak before an eventual higher high, is the question that determines whether the how high can silver go analysis targeting $300 in 2026 is still live, or whether CyclesFan's 3-4 year bear market has already begun.The BIS quarterly review adds institutional weight to the caution: their March 2026 analysis frames the January spike and crash as a classic boom-bust driven by speculative excess rather than a durable repricing of fundamental value. The silver market's 21:1 paper-to-physical leverage ratio means that when the speculative community exits, the unwind is not proportional to the entry - it is dramatically faster and deeper.Silver Price Predictions 2026: The Full SpectrumThe analyst forecast range for silver in 2026 is among the widest of any asset class, reflecting genuine disagreement about whether January's $121 high was a peak or a preview. The earlier How Low Can Silver Go analysis established the downside framework at $55-$62. The institutional forecasts for year-end cluster in a more optimistic range, but have been shifting lower as the March correction deepens.UBS holds the most pessimistic institutional year-end target at $85, representing roughly 18% upside from Friday's $72 price. Commerzbank's mid-year estimate of $92 sits similarly. CoinCodex's algorithmic model flags $56.82 as its near-term target but projects recovery toward $83.92 by year-end. At the bull end, GoldSilver's Alan Hibbard expects silver to "perform better in 2026 than it did in 2025" and would "not be surprised to see the price increase by over $100 per ounce to $175+". Robert Kiyosaki's $200 silver prediction, made in the context of his "biggest bubble bust" scenario, sits at the extreme end. Bank of America's Michael Widmer maintains his extraordinary $135-$309 target based on gold-silver ratio compression and industrial demand.FAQ, Silver Price AnalysisWhy is silver crashing this week?Silver has fallen four consecutive sessions for a total decline approaching 20% from Monday's intraday high, triggered by Wednesday's hawkish Federal Reserve decision that cut 2026 rate cut projections from two to one while citing persistent oil-driven inflation from the Strait of Hormuz situation. How low can silver go in 2026?As shown on my chart, the $70 lower consolidation boundary is the critical line in the sand - it has held for the third time this year and is currently being tested. A sustained break below $70 targets the 200-day MA at $62, then the October 2025 historical highs at $55 - representing approximately 25% further downside from Friday's $72. What is the silver price prediction for 2026?The range spans from CoinCodex's near-term $56.82 and UBS's pessimistic $85 year-end target to Bank of America's $135-$309 and GoldSilver's $175+ bull case. My technical analysis identifies $120 (the January all-time high) as the bull target if the $94 upper consolidation boundary breaks with conviction, and $55 as the bear target if $70 fails. The May Fed meeting is the next major catalyst that could determine which scenario dominates the second quarter.Is $70 a genuine support level for silver?Yes - and my chart shows it has proven so on two prior occasions in 2026, generating meaningful recoveries each time. The level coincides with the December 2025 lows and the February 2026 lows, making it a structurally significant zone with genuine buying interest. This article was written by Damian Chmiel at www.financemagnates.com.

Customer deposits held by US retail forex brokers fell sharply in January, with the industry's combined total dropping to $472.96 million, the lowest figure recorded in more than two years and well below a high-water mark of $557.5 million set back in June 2024.Every broker tracked in the monthly CFTC financial disclosure data posted a decline from December's levels, and four of the six platforms are sitting below where they were twelve months ago. The data, drawn from the Commodity Futures Trading Commission's (CFTC) mandatory Futures Commission Merchant (FCM) filings, capture total retail forex obligations, effectively, the pool of customer assets each regulated dealer holds on behalf of its US clients.OANDA's Decline Deepens Under New OwnershipNo broker has lost more ground than OANDA. January's figure of $133.7 million represents an 8% drop from December and a 19% collapse year-on-year, when OANDA was still managing $165.6 million in US retail forex deposits. The slide is hard to disentangle from the ownership change that reshaped the broker's profile last year. Prop trading giant FTMO acquired OANDA in early 2025, and by March 2026 OANDA had formally transitioned its prop trading clients to the FTMO brand, narrowing the scope of its US retail operation in the process.OANDA's share of total US retail forex deposits now stands at roughly 28%, down from a position that once put it firmly in second place with greater distance behind Gain Capital.Gain Capital Holds Firm, Though Its Lead NarrowsGain Capital, which operates the Forex.com platform in the United States, remains the dominant player with $203.1 million in January, still commanding 42.9% of the total market. But the number itself has pulled back from the $211.8 million it held at year-end, and it is running 4% below the $211.5 million reported in January 2025, when the broker was benefiting from strong monthly inflows.Join the inaugural Finance Magnates Singapore Summit 2026, which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC.The broker has not posted a meaningful breakout since touching $226.6 million in March 2025. That plateau, combined with a post-summer cooling across the market, suggests demand in US retail forex is under genuine pressure. Gain Capital's market share above 44% in the second half of 2024 has gradually eroded, and the December 2025 data now looks more like a temporary stabilization.Charles Schwab and tastyfx Lose GroundCharles Schwab's forex unit shed just over 5% in January, falling to $58.6 million from $61.8 million in December. That marks a roughly $2.6 million shortfall against the same month last year, though Schwab's year-on-year decline of 4.3% is relatively contained compared to broader industry weakness.tastyfx, the US retail forex brand of London-listed IG Group, which rebranded from IG US in 2024, dropped 3.7% on the month to $44.6 million. Of the four brokers showing annual declines, tastyfx is the most modest, down just 1.7% year-on-year. The broker launched Prime accounts in September 2025 targeting professional traders with a 6% promotional annual yield on cash deposits, a product designed to attract larger clients and retain high-value balances.Interactive Brokers and Trading.com Swim Against the TideAgainst an otherwise uniform picture of decline, Interactive Brokers and Trading.com stand out as the only two brokers showing positive deposits compared to January 2025. Interactive Brokers held $30.1 million in retail forex assets at end-January, down 7.3% from December but up 16.4% year-on-year - a contrast that reflects how badly the broker had underperformed a year ago when deposits had already fallen to a low base. In November 2025, Interactive Brokers' deposits plunged 20% in a single month, making the subsequent recovery, including a 21% surge in December, look more like oscillation than a trend.Trading.com, the smallest platform by absolute deposit size at $2.86 million, posted the shallowest monthly decline of any broker, shedding just 1.4% from December. More notable is the year-on-year comparison: Trading.com's deposits are up 25.4% from a year ago, continuing a growth trajectory that, while small in absolute dollar terms, is consistent and directionally distinct from the rest of the market.US retail forex brokers operating as Futures Commission Merchants or Retail Foreign Exchange Dealers are required to report monthly financial disclosures to the CFTC, including adjusted net capital figures and total retail forex obligations. All six brokers covered here remain in compliance with NFA membership and CFTC registration requirements as of the January reporting date. This article was written by Damian Chmiel at www.financemagnates.com.

Multi-asset broker HFM has struck a multi-year partnership with Arsenal, becoming an Official Global Partner of the north London side. “This partnership marks an exciting milestone for HFM as we align with one of football’s most iconic clubs,” Efthymios Mesis, Chief Marketing Officer at HFM, said. The agreement grants the broker matchday branding at Emirates Stadium and exposure across Arsenal’s digital ecosystem, including its recently launched media platform. It also opens the door to player-led campaigns and fan-facing experiences, expected to roll out later this year.HFM itself is a product of the industry’s gradual repositioning. Formerly known as HotForex, the firm rebranded in 2022 to reflect a broader suite of products beyond foreign exchange. Brokers Are Racing to F1Football, once the default choice for branding exposure in the industry, is no longer the sole arena of interest. An increasing number of brokers, including IC Markets, AvaTrade and Vantage, have turned to Formula One. Join the inaugural Finance Magnates Singapore Summit 2026, which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC.Formula One’s own numbers tell a clear story. In the first half of 2025, China accounted for 221 million fans, a year-on-year increase of 39%, and the sport is thriving in Latin America and the Middle East – all key regions for retail brokers. Still, the sums involved are not trivial. According Marios Chalis, Chief Marketing Officer at Libertex, which sponsors now-Audi’s F1 team (previously Kick Sauber), even lower-tier Formula One sponsorships can command around US$5 million.Others have framed the shift in more strategic terms. Peter Aust, COO of FxPro, described the broker’s long-standing McLaren Formula One partnership as a response to the sport’s evolving audience. “As the popularity of trading continues to expand globally, aligning with a sport and a team that is simultaneously growing younger and more diverse directly supports FxPro’s long-term growth ambitions,” he said to Finance Magnates. This article was written by Adonis Adoni at www.financemagnates.com.

Bitget said its contracts for difference business reached a record single-day trading volume of more than $6 billion. The company said this marks a new high and reflects its expansion into multi-asset trading including CFDs and tokenized equities, as the exchange broadened its product offering.The increase comes as trading activity spreads across several markets at once. Users are no longer focused on a single asset class. Instead, activity has grown across commodities, currencies, and indices.Market Swings Drive Multi-Asset TradingRecent market conditions contributed to this shift. Gold rose to record levels amid safe-haven demand. Oil prices, major currency pairs, and global indices also showed sharp movements, driven by geopolitical developments and interest rate expectations.Join the inaugural Finance Magnates Singapore Summit 2026, which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC.The firm said traders are increasingly engaging across multiple asset classes rather than reacting to isolated market events.Gracy Chen, CEO of Bitget, said, “Markets are moving together more than ever.” She added that “surpassing $6 billion in a single day” reflects where users are focusing activity.Traders Access Multiple Markets Through BitgetBitget said its CFD product allows users to trade contracts linked to global assets while using USDT as margin. This removes the need to move funds between separate trading environments.Its Universal Exchange model combines crypto, commodities, forex, and indices within a single account, allowing users to move between markets more easily.The company said the volume reflects growing demand for platforms offering access to multiple asset classes in one place. It added that trading activity is becoming more interconnected across markets.Investors Fuel Bitget US Stock ActivityBitget previously reported strong activity in tokenized equities. Last year, its USDT-margined stock futures tied to 25 U.S. stocks surpassed $1 billion in cumulative trading volume, driven by trades in Tesla, Apple, and other major companies. The milestone came two weeks after the platform reached $500 million, reflecting growing investor interest in tokenized stock products. This article was written by Tareq Sikder at www.financemagnates.com.

A German court has initiated a trial against the former CEO of the Israeli company Airsoft for providing its brokerage technology to scammers. According to prosecutors, the financial losses suffered by victims totalled more than 94 million euros.The Trial of a Tech ProviderAs reported by OCCRP, the CEO of the tech provider, who was in charge from March 2015 until at least the end of June 2021, has been charged with four counts of commercial and organised fraud.Notably, Airsoft itself did not scam anyone, but it allegedly provided technology tools to scammers.In 2023, FinanceMagnates.com reported raids on the Tel Aviv office of Airsoft by Israeli authorities over the company’s links to forex fraud.The indictment filed by the German authorities added that the former CEO “knowingly and willingly” provided the company’s “brokerage all-in-one solution” software to criminal groups across multiple countries, which was “central to the fraud”.According to the indictment, several fake trading platforms, including Huludox, Fibonetix, Nobeltrade, Tradecapital, and Forbslab, used Airsoft’s technology. The German court had already convicted the leaders of those platforms last year, who ran scams through call centres in several countries, including Bulgaria, Serbia, Ukraine, Georgia, Israel, and Kosovo.Read more: Belgian Watchdog Battles a New Breed of “Boiler-Room” Scam Wrapped in Corporate BrandingWho Is Really Responsible?The OCCRP report also mentioned that the former Airsoft CEO “partially admitted” the facts of the case but “largely denied” the allegations of criminal wrongdoing.As the company allegedly charged scammers as part of its revenue, a standard revenue-sharing business model in the brokerage industry, it became directly complicit in the fraudulent activities.The defendant’s lawyers, however, are questioning the legal basis of the case.“The central question before the court is at what point, and under what legal conditions, a software provider may be held criminally liable for the misuse of its product by third parties,” the lawyers of the defendant told the US-based non-governmental organisation that supports investigative journalism.The indictment, on the other hand, alleges that “in some cases — depending on the respective authorisations — the involvement of Airsoft employees was required, which did indeed occur.” This article was written by Arnab Shome at www.financemagnates.com.

Although there are more than a week of trading days left in March, IG Group is expecting to close the first quarter of the year with about £300 million, 7 per cent higher than the corresponding period a year ago.It has also launched a new £125 million share buyback programme.A Great Year for IG Group, FinanciallyIn the three months ended February, the London-listed broker generated total revenue of £274.2 million, 2 per cent higher, with organic revenue on a continuing operations basis stable at £266 million. Its net trading revenue grew by 5 per cent to £247.2 million.Read more: IG Group Posts Record £1.12bn Revenue, Launches Strategic Review as Customer Growth Accelerates“With commercial momentum building, we now expect 2026 organic total revenue growth from this higher base towards the top end of our mid-to-high single-digit target range, excluding contributions from Freetrade and Independent Reserve,” the broker’s latest yearly financial results, released yesterday (Thursday), noted.The figures came as IG closed the 2025 calendar year with total revenue of £1.12 billion, driven by double-digit growth in net trading revenue and a rise in new customer numbers.Its outlook for 2026 is also positive, with EBITDA expected to be broadly in line with the current consensus of £538.1 million.Analysts expect IG’s total revenue for 2026 to be £1.16 billion, of which £1.06 billion is expected to come from trading revenue. For the following year, the total figure is expected to be higher, at almost £1.24 billion, with EBITDA of £579.1 million.“Beyond 2026, given the momentum behind recent product launches and the strength of our pipeline, we now expect organic total revenue growth towards the top end of our guided range,” the broker noted.“Group EBITDA margins are expected to be sustained in the mid-40s percentage range as investment in growth is offset by structurally declining fixed costs to serve, enabled by AI, digital servicing, and automation.”[#highlighted-links#] The Goal Is to Maximise Shareholder ValueIG has also been expanding its presence through acquisitions – it completed the Freetrade acquisition last year and recently bought Independent Reserve, a crypto exchange. Pro forma total revenue in 2025 was £32.2 million for Freetrade and £19.3 million for Independent Reserve.The broker’s net interest income in 2026 is expected to be approximately £110 million based on current rate expectations.Meanwhile, IG is reportedly considering a US listing as it evaluates its presence in London. The decision is expected to be made by autumn 2025.The London-headquartered broker also ran a campaign recently against the stamp duty imposed on stock investments to improve investor sentiment in the UK stock market. Its priority, however, is now to maximise shareholder value. This article was written by Arnab Shome at www.financemagnates.com.

Interviewee: Adam Phillips, CEO of FXTQ1. Could you briefly introduce your development history and business layout? What are your current primary markets and core services?Adam PhillipsI’ve spent over 25 years in the 'engine room' of global finance—managing institutional mandates, setting up prime brokerage relationships with the likes of UBS and Deutsche Bank, and executing billions in monthly volume. When I took the role as CEO of FXT, I didn't see it as just a leadership change, but a mission to bring that institutional-grade discipline to the retail and wholesale market. I wanted to build the broker that I, as a practitioner, would want to use.FXT is headquartered in Sydney, and while we have a large footprint in the APAC region, we are rapidly expanding our global reach to meet the needs of serious, self-directed traders everywhere. Our core service isn't just 'providing a platform'; it provides a coherent, engineered ecosystem. We offer over 500 instruments—FX, Precious Metals, Stocks, Crypto—all under one roof, but the real 'product' is our in-house tech stack.We own WebTrader, the App, and the Funds Management System. We don't white-label our core; we engineer it. This is a critical distinction because it allows us to significantly reduce 'platform risk.' While the markets will always be uncertain, your broker shouldn't be. By owning the technology, we ensure that when our clients act—whether they are trading directly or allocating to a fund—they stay in control. We’ve moved away from the generic 'low spreads' talk to focus on how our systems behave when it matters most.Q2. What role or mission do you believe your company undertakes within the current forex ecosystem?Adam PhillipsFor us it all starts from a simple insight:“The market will always be uncertain. Your platform shouldn’t be.”Most traders are okay with market risk – that’s the game they’ve chosen. What really frustrates them is platform risk: platforms that freeze when things move, costs that only show up after the trade, or money that’s easy to deposit but hard to withdraw.So, our role in the FX ecosystem is to remove as much of that platform uncertainty as we can.Internally, it’s our North Star, as a team - we call that idea ‘Engineered Trust’.By that we mean: we don’t just rent some technology and put a logo on it. We build and control the important parts ourselves – the trading platforms, the systems that handle orders and risk, how prices and costs are shown, and how client money moves in and out.Out in the world, we talk about this through the lense “In Control” – because that’s what we want our clients to feel at the moment they act.The market can move. That’s its job.Our job is to be the part of a distinctive trading experience you can 100% rely on.Q3. Compared with other brokers, what unique advantages does your company offer in terms of technological innovation or client experience?Adam PhillipsMost brokers in this industry are essentially a collection of third-party vendors taped together. They license a platform from one provider, bolt on a bridge from another, and route orders through an external aggregator. That model creates massive blind spots—latency you can’t diagnose and execution behavior you can’t fully control. At FXT, our fundamental advantage is our End-to-End Proprietary Stack. Because we built our own execution, pricing, and routing systems from the ground up, we have total control over the moment of action—the exact millisecond where a client’s intent becomes a market reality.This isn't just about speed; it’s about reliability. We’ve invested heavily in proximity hosting near major financial hubs to ensure that when volatility spikes, our infrastructure thrives. In this business, trust is earned during market chaos. When markets are calm, every broker looks the same, but when 'black swan' events hit, institutional-grade engineering is what separates a serious broker from a marketing-led firm.A practical example of this rigor is our Funds Management System . In most places, these are afterthoughts or third-party plugins. At FXT, it’s a core pillar. We built it to serve professional money managers with the same level of granular reporting and sub-millisecond execution that I demanded when I was managing $40M+ mandates for institutional clients. If you are running complex strategies across hundreds of sub-accounts, you don’t just need 'copy trading'—you need precision, auditability, and total visibility. We provide the tools that allow a manager to run their book like a professional fund.That same institutional precision extends to our Social Trading infrastructure. Unlike legacy copy systems that introduce lag or proportional distortion, FXT delivers zero latency for copy accounts from source account—ensuring followers receive execution in real time, not seconds later when the opportunity has moved. Our dashboard provides clear performance analytics and transparent trade metrics, so clients understand drawdown, risk profile and consistency before allocating capital. Most importantly, we’ve engineered our allocation engine to support fractional micro-lot execution. That means a $50 investment can follow a signal account holding $30,000 with precision. We allow fractions of micro lots to be traded onto follower accounts, ensuring proportional accuracy rather than rounded, distorted position sizing. This is institutional-grade allocation logic delivered to retail scale.We also focus on what I call Radical Transparency. In an industry often built on information asymmetry, we lead with data. We surface spreads, swaps, and margin health clearly within the UI, designing the interface to support better decision-making rather than emotional overtrading. We don't build a casino; we build a cockpit.Ultimately, our philosophy is centered on Client Longevity. We want our clients to stay in the game longer, trade with clearer information, and compound their skills over years. If we aren’t helping you manage risk—through better technology and clearer data—then we are part of the risk. That institutional mindset—prioritizing survival and disciplined growth over reckless volume—is the edge that sets FXT apartQ4. How does your company ensure the safety of client funds?Adam PhillipsSecurity is the foundation of 'Engineered Trust.' We operate under strict regulatory oversight, including ASIC, and we treat client money handling with the same rigor I applied under NFA and FINRA jurisdictions. Segregated accounts and top-tier banking relationships are non-negotiable.Regarding 'information asymmetry,' this is where transparency wins. We explain how we make money in plain language. We don't allow third-party funding. We make offboarding and withdrawals as seamless as onboarding. This article was written by FM Contributors at www.financemagnates.com.

Compagnie Financière Tradition (SWX: CFT), an inter-dealer broker and operator of a Japanese retail forex trading platform, ended 2025 with CHF 134.2 million in net group profit, which increased by 22.2 per cent in constant currencies. The profit was made on annual revenue of almost CHF 1.12 billion, up 11.3 per cent.Revenue from its inter-dealer broking business (IDB) increased by 11.2 per cent at constant exchange rates to CHF 1.16 billion, while revenue from the online forex trading business for retail investors in Japan (non-IDB), from its Gaitame operations, rose by 18.8 per cent to CHF 39.6 million.Its operating margin also improved to 14.5 per cent from 11.9 per cent.[#highlighted-links#] Another Good Year for the Swiss GroupWhen it comes to combined revenue with joint ventures, the figure came in at CHF 1.2 billion, 11.4 per cent higher than the previous year. The operating profit from this was CHF 187.4 million.The Swiss company highlighted that it operated last year “in a complex macroeconomic environment marked by the shift of the major central banks’ monetary policies towards cautious easing and by a rise in international trade tensions, notably the introduction of significant U.S. tariffs that triggered retaliatory measures and increased global geopolitical uncertainty.”These developments prompted investors to actively reassess and reposition their portfolios, generating a substantial increase in transaction volumes across all asset classes and regions.“The Group was able to capitalise on these market conditions while continuing its organic growth strategy,” the company added.However, its performance was affected by the strengthening of the Swiss franc during the year, particularly against the U.S. dollar and the Japanese yen.Outlook Is BullishIn the current year, the group is witnessing a “positive trend”, which continues from recent years.“The priority remains the pursuit of growth primarily through organic development, in particular through targeted recruitment aimed at expanding its product offering across different geographic regions,” the company added. This article was written by Arnab Shome at www.financemagnates.com.

Canada’s financial crime watchdog has revoked 47 crypto-related money services business (MSB) registrations since the start of the year as part of a wider clampdown on anti-money laundering failures. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has cancelled 50 MSB registrations in total so far, including 23 in its latest enforcement action.Ottawa Ramps Up AML EnforcementFinance Minister François-Philippe Champagne said the cancellations mark “a significantly increased pace of action” and pledged that the government will maintain this momentum as it targets money laundering and fraud risks.He added that authorities will keep monitoring and pursuing new measures for virtual currency businesses, including cryptocurrency MSBs and crypto ATMs, which officials say can be used to facilitate illicit finance.In a separate report, Canadian securities regulators dismantled more than thousands of fraudulent investment and cryptocurrency websites as part of a coordinated national drive to tackle online financial crime. The Canadian Securities Administrators (CSA) said the sweep, conducted between June 5, 2025, and February 12, 2026, led to the deactivation of 7,586 scam platforms linked to more than 13,000 URLs.Join the inaugural Finance Magnates Singapore Summit 2026, which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC.Announced during Fraud Prevention Month, the operation marked an intensified effort to disrupt online schemes targeting Canadian investors and to deter would‑be fraudsters. It signaled a broader regulatory shift toward proactive detection and rapid takedown of suspicious platforms rather than relying solely on traditional, slower enforcement channels.When FINTRAC Pulls RegistrationThe push on registrations follows major penalties against crypto firms late last year. FINTRAC fined platform Cryptomus 126 million dollars for alleged violations, including failing to report suspicious transactions on more than 1,000 occasions in July 2024 and lacking written compliance policies.You may also like: IG Group Weighs Move from London to Wall Street: ReportCrypto exchange KuCoin received a 14 million dollar penalty for allegedly failing to register as a foreign MSB and not reporting large crypto transactions with complete information.FINTRAC said MSBs operating in Canada must keep records, verify customer identities, implement a compliance regime, report specified financial transactions and register with the agency. Registration confirms that a business meets legal requirements but does not mean FINTRAC endorses or licenses the firm.The agency can deny or revoke registration if a business is ineligible, does not answer clarification requests within 30 days, fails to respond to information demands, does not update core details such as name or address, or fails to assist the agency. Firms have 30 days to request a review after a denial or revocation. This article was written by Jared Kirui at www.financemagnates.com.

IG Group Holdings is considering a move from London to New York in an effort to expand its presence in one of the world’s largest financial markets. The online trading firm confirmed it is reviewing its listing venue, legal base, and potential acquisition options as part of a wider growth plan.Chief Financial Officer Clifford Abrahams told Bloomberg that a potential U.S. listing could help IG strengthen its position among peers, attract new investors, and create a wider pool for deals. He added that the decision could also benefit staff through greater access to global capital markets.IG Group is considering a listing in New York as a way to bolster its presence in a major market for online trading platforms https://t.co/MjKHPmvjTx— Bloomberg (@business) March 19, 2026Thursday's financial reports hinted at this move. It noted that IG’s board is running a wide-ranging review of big strategic options. It will look at buying other companies to speed up growth, changing where the group is legally based and where its shares trade to free up capital and give it more flexibility.Following a Growing TrendIf IG proceeds, it will join a series of UK-listed companies relocating to Wall Street. Wise announced plans to establish a primary listing in the US last year, while maintaining its UK presence. Despite preparing to join the FTSE 100 this month, IG seems to be targeting long-term competitiveness as valuations and liquidity in the U.S. market continue to attract global firms.Commenting about the move, IG spokesperson told Finance Magnates: “The strategic review is focused on maximizing shareholder value. It would be premature to speculate about a potential change of listing venue, and whether this is an appropriate course of action. The UK remains a substantial and growing market for IG.”The review also sits within a wider shift among CFD-focused brokers that increasingly look to the US for growth, even if they stop short of moving their listing. Plus500 has spent recent years building a sizeable US futures and prediction-markets arm and now presents the US as a core expansion pillar, while keeping its shares traded in London.Join the inaugural Finance Magnates Singapore Summit 2026, which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC.CMC Markets, meanwhile, has leaned into a multi-asset, multi-region strategy with growing institutional and non-CFD revenue, but likewise maintains a UK listing.Nonetheless, IG is registering impressive growth. It delivered record revenue last year but saw profitability come under pressure amid funding costs and heavier investment diluted margins.Related: IG Group Posts Record £1.12bn Revenue, Launches Strategic Review as Customer Growth AcceleratesTotal revenue for the calendar year rose 7% to £1,123.4 million, supported by a 10% jump in net trading revenue to £1,004.6 million, while net interest income fell 16% to £118.8 million as lower benchmark rates reduced returns on client cash and more benefit passed through to customers.Record Revenue in 2025, but Margins NarrowAdditionally, EBITDA increased 1% to £531.1 million, but the EBITDA margin declined from 49.9% to 47.3%, reflecting a deliberate shift in the business model toward trading and fee income and higher operating spend.Adjusted EPS rose 5% to 115.3 pence, helped by ongoing share buybacks that have cut the share count by over 16% since May 2022. Basic EPS jumped 29% to 130 pence, boosted by a one-off £76.0 million gain from the sale of Small Exchange to Kraken.Meanwhile, IG recently resolved its long-running search for a new Chair by naming Andrew Barron as Chair Designate and Non-Executive Director. He is replacing outgoing Chair Mike McTighe once regulatory approvals are in place. This article was written by Jared Kirui at www.financemagnates.com.

The Commodity Futures Trading Commission and Major League Baseball have signed a Memorandum of Understanding in the first agreement of its kind between the regulator and a professional sports league.The move comes as the CFTC increases its focus on event-based contracts and prediction markets, an area that has drawn regulatory scrutiny in recent years. Finance Magnates has previously reported on the agency’s review of such products, particularly around market integrity and oversight standards. The MOU was announced ahead of the 2026 baseball season.MLB Partners With CFTC on Prediction MarketsIt sets out a framework for the two sides to cooperate and exchange information on issues of shared interest, including matters related to professional baseball and associated prediction markets.Join the inaugural Finance Magnates Singapore Summit 2026, which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC.According to the regulator, the arrangement is intended to support oversight of markets tied to sports outcomes. Michael S. Selig described it as a “collaborative step” to promote “integrity and resilience” in baseball-related prediction markets. He said it would also help the agency develop tools to protect participants from “fraud, manipulation, and other abuses.”Selig also acknowledged the role of MLB Commissioner Rob Manfred in establishing the partnership, citing the league’s involvement in efforts related to safeguarding market operations.Today the @CFTC and @MLB made history by signing the first-ever MOU between a sports league and federal agency. We’ve committed to work together to protect the integrity and resilience of prediction markets relating to professional baseball. Through this partnership, the… pic.twitter.com/SNfym65t0N— Mike Selig (@ChairmanSelig) March 19, 2026MOU Enables “Faster Responses, Risk Detection”Under the terms of the MOU, both sides will share information in line with applicable laws. The framework is designed to enable faster responses to incidents and improve the identification of emerging risks.Both parties said they will continue to cooperate as prediction markets linked to professional sports develop. This article was written by Tareq Sikder at www.financemagnates.com.

Tradeweb Markets has expanded its dealer algorithmic execution offering for U.S. Treasuries, adding new strategies from Citi and RBC Capital Markets. The move follows the platform’s U.S. launch of algo execution tools last year and aims to improve liquidity access and execution efficiency for institutional clients.The integration of more dealer algorithms into U.S. Treasury markets highlights how automation continues to reshape fixed income trading.Algorithmic trading is transforming global markets by enabling high-speed, data-driven execution with minimal human intervention. The growth of this sector reflects a surge in both institutional and retail adoption. It is driven by the need for speed, efficiency, and emotion-free decision-making.Broader Liquidity and Execution OptionsThe expansion comes as Tradeweb and MarketAxess emerge as central hubs of electronic liquidity across fixed income. January set new records for both platforms amid heightened market volatility and stronger institutional participation.Tradeweb handled a total of 65.5 trillion dollars in trading volume during the month, translating into average daily volume of 3.1 trillion dollars, up 26.2% year-on-year. On the other hand, MarketAxess reported record average daily volume of 18.6 billion dollars in total credit, a 28% increase versus January 2025, and lifted total platform ADV to 47.7 billion dollars on the back of 19% growth in its rates business.These figures underscore how electronic venues are increasingly displacing traditional channels as institutions look for deeper liquidity and more efficient execution across rates, credit and emerging market instruments.Join the inaugural Finance Magnates Singapore Summit 2026, which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC.Platforms like Tradeweb are increasingly central to this shift, bridging liquidity providers and investors through data‑driven technology that mirrors the evolution long seen in equities.Tradeweb Grows U.S. Treasury Algo LiquidityThrough the platform, investors can execute Treasury orders over defined timeframes with multiple dealer liquidity providers. Tradeweb said the addition of Citi and RBC deepens its multi‑dealer ecosystem and supports the integration of algorithmic tools with its data and analytics infrastructure.Notably, Tradeweb’s U.S. government bond marketplace reported record average daily volume of USD 237.2 billion in 2025, up 11.6% year‑on‑year. Institutional investors currently access liquidity from 38 leading providers. Additionally, Tradeweb’s is collaborating with Kalshi in a push to integrate prediction markets into institutional trading workflows. The partnership involves embedding Kalshi’s real-time event probabilities and data into Tradeweb’s rates and credit platforms. This enables clients to incorporate event-based insights into their forecasting and risk models. This article was written by Jared Kirui at www.financemagnates.com.

Who is the legitimate financial regulator for the Union of Comoros? Although a couple of island authorities claim their legitimacy, the answer is singular: it's only The Banque Centrale des Comores (BCC).If you thought about $20,000 and some tropical branding could buy regulatory legitimacy, think again.Comoros: Islands at the Centre of CFD RegulationThe Union of Comoros is made up of three islands off East Africa: Ngazidja (Grande Comore), Mwali (Mohéli) and Ndzwani (Anjouan). It has enjoyed its fair share of political and legal oddities. But when it comes to financial regulation, the realities are far from what is being promoted.Among the key players in this controversy are the Anjouan Offshore Finance Authority (AOFA) and the Mwali International Services Authority (MISA). Both sell “banking,” “forex,” and “insurance” licenses, but there are significant questions about their authority to issue them.Read more:119 Brokerage Firms Registered in Mwali in 2024It can be understood that regulatory heavyweights such as the Banque Centrale des Comores (BCC), IMF, World Bank, and FATF have all made one thing abundantly clear: AOFA and MISA have zero legal standing and exist solely to sell paper licenses, not to protect investors or oversee markets.My argument below is made in good faith and is based on my understanding of the supporting evidence I included here.Finance Magnates approached both AOFA and MISA to understand their arguments regarding the legitimacy claim, but did not receive any response. The Official Position: Not Even Close to LegitThe promoters of these licenses argue that the autonomous islands of Anjouan and Mwali have the right to create their own financial laws. This claim, however, is verifiably false: Article 9 of the Union Constitution and Organic Law No. 05-003/AU establish that banking and financial legislation fall under the exclusive competence of the Union government, not the individual islands.International bodies also concur. A detailed 2010 report from the International Monetary Fund (IMF) investigating the country's anti-money laundering framework (Report No. 10/320) concluded that the offshore financial institutions created on the islands "were created in violation of the Union's law" and "had no legal basis when they were created."This means the very laws AOFA and MISA are based on—such as the "Offshore Finance Authority Act 2005" —were enacted "without effect" and in violation of the nation's constitution.The June 2022 communiqué from BCC stated as plainly as possible: "The Central Bank of the Comoros informs the public about fictitious structures claiming to issue licenses to banks and financial institutions in the Union of the Comoros" (the document in French is attached below).Among those listed as bogus in the same document are the Mwali International Services Authority, the Anjouan Offshore Finance Authority, Anjouan Corporate Services, and others.The same communiqué was re-published as a reminder last December 2025 on the website of the Ministry of Finance here.If you want to know which banks are actually legit, BCC publishes an official list, and neither AOFA nor MISA nor any bank “licensed” by either makes the cut.The World Bank and IMF have also flagged the “offshore banking” schemes coming from Comoros as illegal, blatantly breaching the law that assigns financial regulation solely to the Union government, not individual islands. The US State Department and OECD have repeatedly warned about the impossibility of safely handling money via these “licensed” entities.Recently, I have even seen circulating fake virtual asset licenses issued by the Ministry of Finance of Comoros, which is not in charge of or authorised to issue such licenses; and such certificates contained references to fake, made-up financial services Acts.The Anatomy of a Controversial RegulatorWant to see how the scheme operates? A quick search leads to a network of websites presenting themselves as official regulators or registrars tied to the Comoros Islands. These sites promise “quick licenses,” display supposed government endorsements, and publish registers of banks and brokers that do not appear to exist. Several of them even mimic the branding of real public authorities or differ only slightly in spelling, giving the impression of legitimacy while promoting offshore licenses with minimal scrutiny.Some sites even try to spin off the Comoros license as being "recognised by international banks”, a claim so unconvincing that it comes off as regulatory stand-up comedy.Here’s a particularly revealing snippet: many SWIFT codes listed in these registers are fake, and even a cursory check with online databases or the actual BCC’s records will show the bank doesn’t actually exist.Further investigation into MISA reveals more red flags. There are at least three conflicting websites, and comically, these fake authorities have even issued their own warnings about cloned websites, suggesting infighting or competing fraudulent operations.The Governance Gambit: Featuring Mohamed Saïd FazulIt gets even wilder. Some of these sites invoke Mohamed Saïd Fazul, the former governor of Mohéli, as if his endorsement means regulatory legitimacy. Fazul, however, left office in 2024 and was succeeded by Chamina Ben Mohamed; none of the MISA websites highlights any endorsement from him.This appears to be regulatory legitimacy based on a Wikipedia footnote, not on constitutional law.The real Constitution of Comoros makes Union-level financial regulation exclusive, not delegable, not up for island spin, so any MISA or AOFA claims to have "government endorsement" are about as genuine as a three-dollar bill.Let me clarify: even if Fazul were still in power (he is not) and was actually endorsing this practice (I don’t know that), that would have been irrelevant because, again, local islands cannot authorise or regulate financial services.Why Brokers Really Buy Comoros LicensesSome might attribute the rise of Comoros licenses solely to MetaQuotes’ licensing requirements for its MT4 and MT5 platforms.When MetaQuotes tightened its policies, it limited white-labelling and required brokers to hold a financial services license before they could obtain that coveted software. That created a scramble, which further worsened in January 2023, when Saint Vincent, the most popular budget-friendly jurisdiction for our industry (where Forex/CFD providers can lawfully operate under an exemption rather than a license), introduced a rule under which only financial services providers holding a proper license abroad, at least at the group level, could stay.This is where the Comoros "workaround" comes in.Opportunistic agents began selling MISA and AOFA registrations as a quick-fix". Just register here," they say, "and you can satisfy the MetaQuotes documentation requirement". And technically, this has worked for some: brokers get their company paper, send it to MetaQuotes, and get their platform license. The same is true with many technology, liquidity and payment providers who conveniently decided to believe in the Comoros mirage.All this said, blaming these providers would be a gross oversimplification, since they are not in the business of forcing companies to get specific licenses.Many smaller brokers, especially targeting less sophisticated retail traders, and irrespective of their electronic trading platform of choice, secure Comoros licenses simply to tick the “regulated” box, enhance perceived credibility to provide reassurance to clients who might not dig deeper.Adding to the mess are broker-comparison and rating portals that amplify brokers’ desirability if they hold any license, including a Comoros license. A broker boasting a Comoros license can toy with rankings, attract more leads, and gain unfavourable trust without deserving it.This creates a perverse incentive curve: brokers seek cheap licenses to play the trust game, portals reward those brokers with better visibility, and clients get misled, all while true regulatory compliance takes a backseat.The Fallout: Why Comoros Licenses Are a Regulatory DisasterLet’s break down the risks:· Banking Access: International banks and payment processors turn cold or outright refuse onboarding for Comoros-licensed entities. SWIFT code checks routinely fail for “Comoros” banks, and payment systems flag them as high-risk.· Reputation: Any client, regulator, or partner who googles the license story soon learns the truth: the license carries the credibility of a Monopoly money bill. Future licensing with FCA, CySEC, ASIC, SFC? It might become challenging because they might ask the applicant why they were offering financial services under a fake license, and “I did not know” is not going to sound like a professional answer.· Operational Risk: Without real regulatory oversight, clients and firms face unenforceable contracts and financial loss.· Marketing: Major ad platforms increasingly block unregulated operators, and even unsophisticated clients are getting wise to the ruse, thanks to public warnings.If you hold one of these licenses, you might counter-argue that there are indeed brokers holding both a Comoros and other licenses under the same brand, which means they did pass due diligence from other regulators. Depending on your risk appetite, you can decide that my statements above are wrong, or you can realise that you might be sitting on a regulatory time bomb and are still on time to bow out. Once it blows, the reputational damage will be irreversible.Do not do Comoros if you want to grow, create corporate value, and one day exit. And if you are looking at a small and quick buck there are better alternatives for that, too.Finally, a disclaimer: With 23 years of experience in this industry, I advise CFD broker-dealers and virtual asset providers on acquisitions, regulatory strategy, and related matters. The statements expressed herein are based on my own research, understanding, and interpretation of the subject, conducted in good faith. Portions of the supporting documentation have been included in this article.Any person or entity mentioned in this article, some of whom have already been contacted by Finance Magnates, has the right to respond. Should they believe that any statements made herein are inaccurate, incomplete, or outdated, they are invited to provide supporting evidence for their position.Nothing contained in this article should be construed as legal advice. This article was written by Eugenio Accongiagioco at www.financemagnates.com.

Data security remains a challenge for CFD brokers in 2026 amid the AI boom. Cyberattackers can discover and exploit system vulnerabilities much faster thanks to AI technology and develop new, sophisticated techniques. AI-driven phishing attacks have gone all the way from “spray-to-pray” tactics to “hyperpersonalisation” and even polymorphic threats. According to identity verification platform Sumsub, “rogue” AI agents and increasingly versatile hacking schemes are only two of the risks facing the brokerage industry right now. Between 2024 and 2025, the number of advanced fraud attempts soared from 10% to 28%, a Sumsub report indicates.At the heart of the problem is the unethical usage of generative AI. Generative AI agents have enabled hackers to easily and inexpensively forge IDs, documents like receipts, bank statements, and other payment proofs. This has “industrialised” fraudulent activity.Despite the concerning nature of these developments - which only underscore that in the wrong hands, AI technology can be a destructive force - for most brokers, data security is still a matter of compliance, IT, or both. A checkbox. A matter of GDPR adherence. A hybrid service for firefighting data breaches, sealing firewalls, passing audits, and avoiding fines. But as digital ecosystems evolved beyond fixed networks and legal frameworks like GDPR, MiFID, or MiFIR, this traditional defensive logic became obsolete. Data security is no longer a compliance, back-office, or IT concern; it’s a front-line driver of customer trust, satisfaction, retention, and revenue.Regulation only sets the baselineFinancial services and data protection directives like GDPR and MiFID II set the framework for how brokers and other financial institutions should operate and protect client data. Meeting these norms keeps brokers in the market, but it doesn’t give them a competitive edge. In a marketplace where traders have almost limitless choice, meeting the baseline doesn’t create differentiation, nor does it protect lifetime value. Whilst compliance teams focus on frameworks and audit trails, traders experience security in entirely different terms. They notice platform stability during volatile markets. They observe how quickly a broker responds to suspicious activity. They sense whether their funds and data feel protected. These perceptions shape trust, and, in turn, trust shapes behaviour.Security incidents, the day-to-day trust breakersEnd users don’t experience security incidents as technical glitches but rather as friction - i.e., difficulty logging in after a password reset, unexplained delays in fund withdrawals, platform downtime during critical trading windows. Moments like these break traders’ confidence, driving them to other providers.When traders encounter such frictions frequently, or worse, they learn of a data breach or system compromise, their emotional response is immediate. Trading activity slows, and withdrawal requests keep flowing in. This behavioural shift is where the true commercial cost of weak security emerges. It is not always captured in incident reports or compliance audits. But it shows up in churn rates, declining average deposits, and reduced trading volumes amongst high-value clients.Data security and customer engagement go hand in handBrokers increasingly rely on third-party platforms to manage customer data, orchestrate engagement journeys, and trigger real-time communications. Yet many overlook a critical question: how secure is the infrastructure processing this sensitive behavioural and financial data?The security posture of customer engagement platforms like Solitics directly impacts broker risk exposure. Solitics’ platform combines SOC 2 Type II audit standards with ISO/IEC 27001 certification and AWS-hosted infrastructure, which enables brokers to activate real-time behavioural data whilst maintaining enterprise-grade security NIST. This dual capability of commercial agility paired with operational security is becoming table stakes for customer engagement in regulated financial services.The result is a new standard: customer engagement strategies leveraging a secure-by-design architecture to process live data from the trading activity with the same care brokers apply to their core trading infrastructure.Security is no longer just about avoiding fines. It is about protecting the relationship between Broker and Trader, as well as the revenue it generates. But to deliver value to traders, brokers need real-time behavioural data. This is where marketing automation comes in. On one hand, martech platforms provide brokers with the data they need, but on the other hand, the risk that comes with such solutions remains high. Reportedly, several marketing and marketing automation platforms have been fined due to flagrant GDPR violations and misuse of private data. Unfortunately, data violations are commonplace in the martech space. That’s primarily because marketing automation platforms require brokers to externalise their data, which creates security vulnerabilities and raises compliance risks. Besides that, another crucial issue that brokers grapple with is data fragmentation. Championing data security with a fundamentally different approachThe fundamental difference between customer engagement infrastructures like Solitics and traditional martech and data security tools is the approach. Unlike traditional security tools, which focus on logs, alerts, and threat detection, which are necessary yet insufficient, Solitics provides insight into how security-related events—or even the perception of risk—affect customer behaviour in real time.Did a trader reduce activity after a failed login attempt? Did they contact support following a market outage? Did they initiate a withdrawal shortly after receiving a password reset email? These signals, when monitored and acted upon through secure infrastructure, offer early warnings that trust is eroding. By translating complex behavioural data into actionable insights like these, Solitics meets the most pressing demand brokers have today - timely and contextual communication adapted to each trader’s behaviour and situation. This is possible thanks to Solitics’ unique architecture.Functionality powered by architectureSolitics integrates seamlessly into the broker's existing infrastructure without requiring data migration. Interactive pop-ups addressing user-specific security issues (i.e., password changes, withdrawal processing, or account verification) can re-engage traders at moments of friction, whilst audit logs and access controls ensure full compliance with GDPR and financial services regulations.The result is infrastructure that combines SOC 2 Type II compliance, ISO/IEC 27001 certification, and enterprise-grade encryption with sub-second response times to behavioural signals. Security protocols—from role-based permissions to data encryption—operate without creating latency that degrades customer experience. Brokers maintain complete control over their data whilst gaining the agility to intervene before trust erodes.This approach demonstrates what forward-thinking brokers already understand: security and engagement aren't competing priorities. When implemented correctly, security infrastructure becomes the foundation for sustainable customer relationships. Brokers who understand that will succeed in 2026. This article was written by FM Contributors at www.financemagnates.com.

Robinhood is beta testing a new social feature that allows users to share and discuss trades, marking its first move toward social trading in the U.S. market.Join the inaugural Finance Magnates Singapore Summit 2026, which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC.The product, called “Robinhood Social,” reflects a model already popular in Europe, where platforms such as eToro allow users to follow and automatically copy each other’s trades. Robinhood first signaled its interest in social trading features in October 2025. In the U.S., however, that approach sits in a more uncertain regulatory environment Manual Copying Instead of Automation Robinhood’s version deliberately stops short of full copy trading. Users can see what others are trading and replicate those positions manually, but there is no automatic portfolio mirroring or rebalancing. That distinction is central to the product’s design and reflects how the company is approaching regulatory risk. The concern is real. In the U.S., sharing trades at scale can be interpreted as a form of investment advice, particularly if it leads to systematic copying. At the same time, anonymous social features raise concerns around coordinated trading and market manipulation. Robinhood’s approach addresses both issues. Profiles are tied to verified users through existing onboarding processes, and trading decisions remain fully user-initiated. The company is effectively bringing the social layer that already exists on platforms like Reddit and X into its own app — but without automating decision-making.Robinhood is also limiting early access. The feature is initially available to around 1,000 invited users, with plans to expand to another 10,000 in the near term. A broader rollout to all customers is expected later this year.Robinhood Social is now in beta.We’re rolling it out to a select group of traders, starting with 1,000 customers who joined us at HOOD Summit last fall, with plans to expand in the coming weeks. Learn more on our blog: https://t.co/HB2MmnCtH0— Robinhood (@RobinhoodApp) March 18, 2026A Different Product Model from eToro The rollout is also limited. Access is initially restricted to a small group of users, with broader expansion planned later this year. The product positioning differs from established copy trading platforms. Services such as eToro are built around portfolio delegation, where users allocate capital to traders and have positions replicated automatically. Robinhood, by contrast, is adding a social layer on top of its existing multi-asset offering — including stocks, options, crypto, futures and prediction markets — without shifting control away from the user. That difference has implications for both user experience and risk. Instead of “following” a trader in the background, users remain responsible for each trade, even if the idea originates from someone else’s portfolio.Testing the Limits of U.S. Regulation For the brokerage industry, the rollout highlights a key constraint in the U.S. market. Social trading is well established globally, but its development domestically has been limited by rules around investment advice and market conduct. Robinhood’s model suggests one way forward: keep the social signal, remove the automation. Whether that balance holds as the product scales will depend on how regulators interpret the boundary between discussion and advice. This article was written by Tanya Chepkova at www.financemagnates.com.

Apex Group Ltd., a financial services company administering more than $3.5 trillion in assets, said it will use the T-REX Ledger as its default infrastructure for distributing tokenized funds across multiple blockchain networks, with the company targeting $100 billion in tokenized assets on its platform by June 2027.The T-REX Ledger is a cross-chain compliance layer built using Polygon CDK and connected via Agglayer, Polygon's interoperability protocol, according to the announcement. T-REX Network, the firm behind the infrastructure, says it has tokenized more than $32 billion in assets to date using the ERC-3643 permissioned token standard.Join the inaugural Finance Magnates Singapore Summit 2026, which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC.The Compliance Problem at the CenterAs more asset managers explore distributing tokenized securities across different blockchain networks, each serving distinct investor pools or liquidity venues, maintaining a single, consistent investor registry has become an operational pressure point for transfer agents. Apex Group said the T-REX Ledger addresses this by acting as a shared reference layer that connected chains can query in real time, rather than requiring each network to independently enforce compliance rules.The system ties eligibility and regulatory controls to investor identity rather than wallet addresses, the company said. Each investor is linked to a verified on-chain identity through OnchainID, an open-source framework that consolidates KYC and AML attestations from multiple verification agents into a portable digital credential. Under this model, transfers are automatically blocked if credentials expire, are revoked, or fail to meet the requirements of a specific fund or jurisdiction.Apex Group has also been active as an equity investor beyond its core fund administration business. In June 2025, the firm's Jersey-based trust entity acquired a 3.07% stake in London-listed CMC Markets, crossing the disclosure threshold under a TR-1 filing with the London Stock Exchange. The market value of the shares at the time of the transaction was approximately £21.66 million, according to the filing, making Apex one of CMC's larger institutional shareholders alongside founder and CEO Lord Cruddas, who retained over 59% of the company.Polygon as the BackboneThe T-REX Ledger runs on Polygon CDK, a toolkit for building application-specific blockchains, and connects to other networks via Agglayer, Polygon's interoperability layer. Sandeep Nailwal, CEO of the Polygon Foundation, said the infrastructure demonstrates how an industry-led compliance standard can be paired with shared infrastructure to give institutions both regulatory certainty and cross-chain liquidity access."T-REX Ledger shows how an industry-led standard can be paired with shared infrastructure to give institutions both regulatory certainty and access to cross-chain liquidity," he added.Polygon has been active in the tokenized real-world asset space, with RWA tokenization on the network surpassing $1.14 billion as of late 2025.The arrangement does not require any individual blockchain to cede autonomy, the company said. Instead, each connected chain queries the T-REX Ledger to verify compliance status without having to replicate identity infrastructure independently, something Apex described as a key requirement for maintaining governance integrity in regulated markets.Apex's Deepening Tokenization BetThe announcement builds on Apex Group's earlier moves into blockchain-based fund administration. The company acquired a majority stake in Tokeny, the Luxembourg-based tokenization solutions provider and original developer of the ERC-3643 standard, in May 2025, with a path to full ownership over three years. That deal followed an initial investment in December 2023. Apex also administered what it described as the first tokenized share class on the Polygon blockchain from Malta in 2025.Peter Hughes, founder and CEO of Apex Group, said the firm sees the T-REX Ledger as foundational industry infrastructure rather than a proprietary advantage. "What has been missing is a neutral orchestration layer that whitelists investor identity and brings clarity to KYC and AML across these networks, so transfer agents can maintain the governance and regulatory integrity that regulated markets require," Hughes said.Joachim Lebrun, co-founder of T-REX Network, said the goal was not to pick winners among blockchain platforms but to connect them. "Because ERC-3643 ties compliance to the investor identity rather than the wallet, KYC and AML controls remain portable and enforceable across every chain and platform without duplication or fragmentation," Lebrun said.Institutional Momentum Behind RWAsThe move comes as tokenization of real-world assets is picking up pace among large financial institutions. Leaders at the World Economic Forum in Davos in January 2026 described tokenization as "the name of the game" for the year, though the consensus pointed to wholesale markets as the more immediate opportunity over retail. Globally, tokenized real-world assets had grown to more than $24 billion in total value by February 2026, according to data from RWA.xyz, though the market remains concentrated among a relatively small number of asset classes.The T-REX ecosystem also includes an AppStore of vetted applications and what the company describes as an institutionally governed blockchain sequencer that filters suspicious transactions before processing. Whether this governance structure meets the requirements of major financial regulators across jurisdictions has not been independently verified.For Apex Group, the $100 billion tokenization target by mid-2027 represents a substantial scaling ambition. The firm currently administers assets across more than 13,000 professionals globally, and Hughes framed the T-REX Ledger adoption as a long-term structural commitment rather than a product pilot. As FinanceMagnates.com has previously reported, the practical challenge for institutions in 2026 is no longer proving that tokenization is feasible but building the governance and compliance structures capable of operating at scale across regulatory jurisdictions. This article was written by Damian Chmiel at www.financemagnates.com.