Liquidnet, the New York agency broker owned by TP ICAP Group, will pay $250,000 and accept a censure to settle Financial Industry Regulatory Authority (FINRA) charges that it published six years of inaccurate execution-quality reports, the regulator said in a settlement letter accepted Monday.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)It is the second time in four years FINRA has censured the firm for the same category of order-execution reporting errors. The company’s Canadian subsidiary was also fined three weeks ago after foreign stuff could pick at client orders.Sixty-Seven Million Orders MisclassifiedBetween February 2018 and March 2024, Liquidnet published 74 inaccurate monthly reports under Regulation NMS Rule 605, according to FINRA's Letter of Acceptance, Waiver and Consent. The reports cover statistical information that market centers must publish each month on how they handle and execute orders in NMS securities.“The firm erroneously included in its Rule 605 reports approximately v67 million orders that required special handling because the firm incorrectly classified those orders as covered orders,” FINRA said in the statement.Treating those as standard covered orders skewed the order and execution-quality statistics that buy-side clients, regulators, and rival venues rely on to compare execution performance.FINRA identified the inaccuracies during a March 2023 examination of the firm. By April 2024, Liquidnet had implemented coding fixes that removed the misclassified orders from its monthly disclosures, the settlement letter said.A Repeat of the 2022 SettlementThis is not Liquidnet's first encounter with the same rule. In February 2022, the firm consented to a $50,000 fine and a censure over 30 inaccurate Rule 605 reports filed between August 2015 and January 2018. That earlier matter involved a different mistake, with marketable limit orders classified as inside-the-quote limit orders.Liquidnet joins a list of broker-dealers FINRA has penalized in recent years over Rule 605 reporting failures, suggesting the regulator continues to comb monthly disclosures for misclassified orders and supervisory gaps.In July 2022, BofA Securities was fined $325,000 for publishing 107 inaccurate Rule 605 reports between January 2014 and February 2022. The errors there involved combining order data from two market centers, MLCO and MLIX, and misclassifying orders due to technological issues. Five months later, FINRA fined Instinet $165,000 over 54 inaccurate reports tied to its Continuous Block Cross alternative trading system, where the firm had erroneously excluded orders it incorrectly treated as subject to special handling.Early 2023 brought a $475,000 censure for UBS Securities, which had published 41 inaccurate reports for its UBSA dark pool because of a coding error that mixed parent and child orders. . This article was written by Damian Chmiel at www.financemagnates.com.

Australia's corporate watchdog wants to keep two pieces of AFS license relief on the books for another five years, with feedback from the industry due by the start of June.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)The Australian Securities and Investments Commission (ASIC) said today (Tuesday) it is consulting on remaking two legislative instruments due to expire on October 1, 2026. Both touch the AFS licensing regime that underpins Australia's CFD industry, and both have been in place since 2016.The Two Instruments at GlanceThe first gives general-advice providers a break from AFS licensing rules when their advice appears in specific documents, mainly explanatory statements for foreign schemes of arrangement and offer documents tied to overseas control transactions. The second exempts issuers and advisers from having to spell out certain figures in Australian dollars on standard disclosure paperwork.ASIC said the proposed changes are minor and technical, focused on cleaning up the wording rather than reshaping the substance. The carve-outs would roll forward through 2031.Discretionary Mutual Funds Get Pulled InThe one bit of new ground is around discretionary mutual funds, the not-for-profit risk-sharing structures used by community groups, churches and some industry associations. ASIC wants the dollar disclosure exemption to cover risk products issued through these funds, which currently sit outside the relief.It's a narrow expansion, and the agency frames it as a consistency fix rather than a policy shift. Nothing in the proposal changes who can give general advice without an AFS license or which overseas documents qualify. ASIC has taken a tougher line on adjacent reliefs, reassessing investment introduction service relief last year after low industry use.A Crowded Regulatory Inbox for AFS HoldersThe proposal is administrative, but it lands in the middle of one of the heaviest regulatory years AFS license holders have faced. Brokers, fund managers and advisers under the regime are juggling deadlines that have nothing to do with consultation paper CS 51.The most pressing is ASIC's no-action position for unlicensed digital asset providers, which expires on June 30, 2026. Crypto firms that miss the cutoff face civil and criminal penalties of up to 10% of annual turnover, and they will be slotting into the same AFS framework being tinkered with in the current consultation. ASIC reminded those firms only days ago that they have under two months left.Running alongside that, adviser qualification standards introduced on January 1 are still rippling through the industry, with ASIC running compliance checks against the Financial Advisers Register. The regulator has also flagged financial reporting misconduct as a top 2026 enforcement priority and earlier proposed easing breach reporting for minor errors fixed inside 30 days.The licensing pipeline itself has tightened. ASIC granted 290 new AFS licenses in fiscal 2025 while canceling or suspending another 215, and an enforcement campaign produced a record A$583 million in penalties in the second half of 2025.Submissions Close June 1Feedback on the proposal can be lodged with ASIC's consultation team until 5pm AEST on June 1. The document is consultation paper CS 51, "Proposed remake of relief from dollar disclosure reporting and AFS licensing requirements for general advice in certain exempt documents."If the regulator goes ahead, the new instruments would replace the existing ones before the October 1 sunset and run for another five years, taking the regime through to 2031. This article was written by Damian Chmiel at www.financemagnates.com.

Lochlan White has joined oneZero Financial Systems as it launches its first Middle East office in Dubai. As the Director of Sales & Relationship Management (EMEA), White will lead the new office launch efforts.“Looking forward to building strong partnerships across the region and bringing our technology to more brokers and institutions,” he wrote in a LinkedIn post.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)A Strategic Hub for the Trading IndustryoneZero provides execution and liquidity hub technology to retail brokers and institutional clients. It is entering Dubai when many contracts for differences (CFDs) brokers have established their presence in the city and have even obtained local licences.Other technology and infrastructure providers like Leverate also have a presence in the Middle Eastern city. The objective is to stay closer to their existing and prospective clients.Interestingly, oneZero’s CEO, Andrew Ralich, recently said in his annual outlook that “volatility has shifted from relative predictability with occasional curve balls to a state of capricious, sustained market activity.” The assessment comes as CFD and forex brokers grapple with elevated trading volumes but also heightened risk management demands.[#highlighted-links#] A Known Face in the IndustryWhite joined oneZero after his tenure at Scope Prime as the Chief Commercial Officer. He spent more than a year and a half there and was also based in Dubai, according to his LinkedIn profile.He started his career at Australia-headquartered 26 Degrees, where he spent 11 years. He first joined the Sydney office as the Marketing Director and then moved to Prime Services, first becoming a Director and then the Head of Prime Services for APAC. He later shifted his focus to the EMEA region and moved to Cyprus. He left the company as its Chief Commercial Officer for EMEA.oneZero, meanwhile, recently hired Alberto Bruno, a former PrimeXM executive, as its Director of Business Development. This article was written by Arnab Shome at www.financemagnates.com.

Mario Saudino has joined Blueberry Markets as LATAM Regional Manager, following his departure from STARTRADER earlier this year. The move marks his continuation in regional leadership roles within the forex and derivatives sector.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).Joining Blueberry Markets in LATAM RoleSaudino started his new position in March 2026 and is based in Mexico in a hybrid role. He is responsible for overseeing business development and strengthening the company’s presence across Latin America.Commenting about the move, he said that his approach in the region will center on building trust and supporting partners and clients in developing sustainable business opportunities.Before joining Blueberry Markets, Saudino worked at STARTRADER as Regional Director for LATAM. He operated remotely from Germany and led regional operations during his tenure. Departure from STARTRADERPrior to STARTRADER, Saudino held senior roles across several firms. He served as Regional Director for LATAM at TigerWit Group between 2020 and 2022. Earlier, he worked at Global Markets Group in London, where he held positions including Sales Director and Sales Manager for Spanish and LATAM markets. He also worked as Sales Director for LATAM and Spanish markets at Roar Forex.His appointment comes as brokers continue to expand their footprint in Latin America, a region that remains a key focus for client acquisition and business growth in the derivatives industry.Blueberry has appointed Ghaith Alghatas as Head of Partners for the MENA region, with the executive based in Cyprus and joining the firm full-time. He brings partner management experience from Pepperstone, where he served as Senior Partners Manager, and IC Markets, where he handled partner operations and team leadership, supporting the broker’s ongoing expansion in the region.The firm also appointed Magdy Mohamed as Head of Marketing for the MENA region, bringing experience from VT Markets and earlier roles at ONEPRO, PU Prime, and GTCpros. Based in Dubai, he will lead the broker’s regional marketing efforts as Blueberry continues to expand its presence and brand visibility in the MENA market. This article was written by Jared Kirui at www.financemagnates.com.

Gold traded near $4,580 per ounce on Monday, May 4, 2026, falling more than 1% on the session and roughly 2% from last Friday's intraday peak as a firmer dollar, rising Treasury yields, and a fresh tanker strike in the Strait of Hormuz pushed XAU/USD to its lowest level since late March. Intraday selling tagged $4,560, the metal's first sub-$4,580 print in more than five weeks. Spot now trades approximately 18% below the $5,595 January 29 all-time high.The harder question is not why gold is going down today. It is whether anything structurally has changed on the chart. From my reading, it has not.Follow me on X for real-time market analysis: @ChmielDk.What pushed gold lower on May 4?The session move came from the same paradox that has defined the metals tape for two months. The Middle East war pushes oil higher, oil pushes inflation expectations higher, inflation expectations keep the Federal Reserve frozen, and a frozen Fed keeps real yields elevated. Higher real yields raise the opportunity cost of a non-yielding asset."Gold declined on Monday as the metal faces a stable US dollar and rising Treasury yields. Ongoing inflation concerns arising from elevated oil prices could continue to push monetary policy expectations toward more caution, lifting yields and weighing on non-yielding assets such as bullion," said Paolo Broccardo, CEO at BankPro.Broccardo's framing matches the price action: the dollar index sits firm above 98, ten-year yields are in the 4.3-4.4% range, and a tanker was struck by projectiles in Hormuz earlier today.The mechanical drivers behind today's session:Dollar Index holding above 98, ten-year Treasury yields in the 4.3-4.4% rangeTanker struck by projectiles in the Strait of Hormuz Monday morning, oil bidISM Prices Paid printed 84.6 in April, the highest reading since April 2022Gold-backed ETFs in net outflows last week after a three-week inflow streakCME FedWatch shows over 90% probability the Fed holds at 3.50-3.75% in JuneGold technical analysis: the channel still holdsIn 15 years reading gold charts, I have learned that the most useful response to a 2% session is not to ask "why" but to ask whether anything structurally changed. Today, on the daily chart, nothing has.XAU/USD remains inside the same dual consolidation it has traded for over a month. Two overlapping boxes define it. The faster box is bounded by exponential moving averages: the 200 EMA (blue) at $4,300 per ounce on the floor, the 50 EMA (red) at $4,740 per ounce on the ceiling.The slower box is bounded by horizontal price action: the October 2025 highs in the $4,284-$4,400 range as the floor, the April 2026 highs near $4,840 as the ceiling.Today's drop did not break either floor. The 50 EMA at $4,740 is now acting as dynamic resistance, and price is moving in the direction of the slower 200 EMA at $4,300. That is the next test.Above the 50 EMA, momentum reverses to the upside and the consolidation upper bound at $4,840 comes back into focus. Below $4,300, the picture changes materially. As I wrote in my April 28 analysis on gold's $3,400 risk, a weekly close below the EMA cluster is the trigger for a sustained move toward the 200 EMA test, then $4,000, then the April 2025 highs at $3,400 on a 100% Fibonacci extension. That sequence is the only path that turns today's session move into something structural."Gold is no longer moving according to the classical rules investors are accustomed to, and this paradox is not incidental, it reflects a deeper structural shift in the market. In my view, the notable decline in gold prices near $4,626 despite escalating geopolitical risks and heightened global uncertainty reveals that traditional drivers such as the safe haven narrative are no longer sufficient to explain short-term price action,” Rania Gule, Senior Market Analyst at XS.com MENA, added. What's next for gold?Two paths from here. Both depend on whether the channel holds.Bull case:A break above $4,840 reopens the path to $5,420, the January 28 record session high and Goldman Sachs' standing year-end 2026 target. As my prior coverage of Goldman's $5,400 forecast detailed, the bank's thesis rests on real-yield compression once the Fed's stagflation trap becomes consensus.Above $5,420, gold re-enters the price-discovery zone toward the $5,595 all-time high.Bear case:A weekly close below $4,300 invalidates the consolidation and shifts the bias toward a $3,400 measured target, anchored by April 2025 resistance. As my earlier $3,400 scenario analysis showed, that level sits roughly 26% below current spot.The 200 EMA at $4,300 is the line. Anything else is noise.The institutional range is wide. UBP holds a $6,000 year-end target, as my prior coverage of UBP's bullion repositioning detailed, while the consensus institutional clip tracked in the FinanceMagnates.com 2026 gold prediction roundup sits closer to $4,750. My read: the structural backdrop, central bank buying, supply discipline, dollar pressure, has not changed today. The price action has not changed today. What has changed is one more session of dollar strength inside an existing consolidation. That is a difference worth flagging.FAQWhy is gold going down today, May 4, 2026?Gold fell roughly 1.4% on Monday, May 4, 2026, to a session low of $4,560 because the US dollar index held above 98, ten-year Treasury yields traded in the 4.3-4.4% range, and a tanker was struck by projectiles in the Strait of Hormuz, reinforcing inflation concerns that keep the Fed on hold. Higher real yields raise the opportunity cost of holding a non-yielding asset, even with active geopolitical risk in play.How low can gold go?If the $4,300 EMA cluster fails on a weekly closing basis, the next major support sits at $4,000, then $3,400, the April 2025 highs that capped price for four months on a 100% Fibonacci extension. That extreme scenario implies roughly 26% downside from current spot. The trigger I am watching is a weekly close below $4,281, the lower edge of the October 2025 highs cluster.What is the next major resistance for gold?The 50 EMA at $4,740 is the immediate dynamic resistance. Above it, the April 2026 highs near $4,840 cap the consolidation. A weekly close above $4,840 would reopen the path to $5,420, the January 28 record session high, with $5,595 as the all-time intraday high beyond that. Goldman Sachs' standing year-end 2026 target of $5,400 sits inside this corridor. This article was written by Damian Chmiel at www.financemagnates.com.

Market participants share their views on where investors can find value in Singapore’s equity market. HSBC’s Q1 2026 investment outlook report notes that Singapore continues to provide compelling dividend yields. Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).The bank has an overweight view on Singapore stocks for their elevated dividends and defensive character, which it feels can help dampen portfolio volatility.Singapore Valuations Driven by Structural GrowthThis perspective is shared by Gidon Kessel, group head deposits and wealth management at UOB, who adds that domestic companies have displayed improving earnings momentum in a market with high-yielding stocks across different market capitalisations, including small- and mid-caps.Investors are responding to companies that are deliberately building capabilities, strengthening capital management discipline, improving disclosure and engaging more actively with the investor community to explain how shareholder value is created and sustained.“That said, valuation confidence tends to be stronger where company strategies are aligned with longer-term economic growth drivers, such as infrastructure renewal, energy transition, supply chain realignment and regional demand growth, rather than relying on cyclical or thematic sector momentum alone,” notes Geoff Howie, SGX market strategist.He expects stronger valuation confidence where companies invest in understanding their value drivers, articulate them clearly and communicate consistently across cycles. This includes clarity around capital allocation, operating metrics and risk management, rather than reliance on sector tailwinds or broad macro narratives.Investor Communication, Governance and Market DepthCommunications matter because even well-defined strategies are discounted if investors cannot understand them. Communities matter as peer learning, governance standards and market engagement help lift overall confidence and comparability.That is the view of Robin Harris, Ocorian's regional head of APAC, who says investors are increasingly focused on companies that use the current spotlight to commit to disciplined disclosure, consistent metrics and proactive investor engagement, supported by research coverage, institutional participation and a disclosure-based regulatory regime.“Together, these factors can deepen liquidity, strengthen price discovery and build a more compelling and resilient market for investors over the long term,” he adds.Banks and REITs Dominate Singapore’s Income ProfileThe Singapore market is concentrated in banks and REITs, which gives it a more income-driven profile. At the same time, it offers stability and steady earnings, which continues to appeal to institutional investors.On the macro side, geopolitical uncertainty and inflation risks are also influencing rate expectations, which in turn would affect how different sectors are going to be valued, explains Lydia Chin, senior manager fund solutions at Vistra in Singapore.“Banks and REITs remain key holdings for income-focused investors,” she says. “Banks continue to look resilient with strong earnings and dividends. REITs are more mixed, still under pressure from higher interest rates and refinancing costs, where we are seeing more selective repositioning rather than broad de-risking, particularly into higher quality, well-leased assets.”Earnings Outlook and Valuation BackdropPolicy reforms have gone some way to closing the liquidity discount that Singapore equities have carried for years. The earnings backdrop is solid — with banks in particular delivering — while the broader Straits Times Index, or STI (a market capitalisation-weighted index that tracks the performance of the top 30 companies listed on SGX), is on track for high single-digit earnings growth in 2026.“In addition, Singapore's safe haven appeal has driven real capital inflows that many other markets in the region simply aren't seeing, and a 4–5% dividend yield is hard to argue with in the current environment,” says Patrick Na, head of financial services South East Asia at TMF Group.He also acknowledges that a lot of the re-rating has already happened and, with the STI trading well above its historical average P/E, the market needs earnings to do the heavy lifting from here.Where Investors are Finding OpportunitiesAccording to Na, the most interesting opportunities are in small- and mid-caps, which trade at a meaningful discount to regional peers.“Within that universe, industrials and trade connectivity names are where I would focus attention,” he says. “On the large-cap side, the banks (DBS, OCBC and UOB) are hard to avoid. The dividend yields are attractive and the balance sheets are in good shape. S-REITs are worth a closer look too, particularly in data centres, logistics and hospitality, where the underlying demand story is strong and falling rates improve the economics.”“Telecoms — particularly Singtel — are interesting for a slightly different reason; there is asset monetisation potential there that I don't think the market has fully credited yet.”Jupiter Asset Management owns five stocks in Singapore, all with strong governance and balance sheets, observes investment manager of Asian equities Sam Konrad.“We see DBS as not just the best bank in Singapore but one of the best banks in the world,” he says. “ST Engineering is a very high-quality defence company in a sector with strong structural tailwinds, while Singtel gives us exposure to the telco markets of India, Australia, Thailand, Indonesia and the Philippines, as well as growth from data centres.”CapitaLand Integrated Commercial Trust owns some of the highest-profile office and retail assets in Singapore. The firm also owns Genting Singapore, an integrated resort with one of the two casino licences in the country, which it views as a way to play increased tourism and leisure spending in the region.Broad-based Sector Strength in 2026Almost all of Singapore’s equity sectors are “firing on all cylinders” for investors in 2026, reckons Robert St Clair, head of investment strategy at Fullerton.“Equity market alpha has broadened and deepened, with significant contributions from industrials (benefiting from robust external demand and productivity gains), financials (gaining from strong loan growth and non-interest income) and communications and utilities, where cost controls have been important,” he says.Defence is another sector that could still see good opportunities for growth due to current geopolitical uncertainties, adds Carmen Lee, head of equity research at OCBC.“With Singapore’s smart nation focus, we expect AI-related investments to be a strong long-term mega trend that will benefit companies that are either offering AI-related services or using AI to grow their businesses or reduce costs,” she says. “Core defensive industries in telecommunications and renewable energy are likely to remain preferred holdings.”Adeline Gao, research analyst at FSM Global, observes that the banking sector is expected to see net interest margin stabilisation this year, while wealth management remains a key growth driver supported by safe-haven inflows amid global uncertainty.“Beyond financials, Singapore’s semiconductor supply chain players are positioned to benefit from the ongoing global ‘giga cycle’, supporting both revenue growth and order visibility,” she says. “In addition, industrial names with exposure to defence and strong order backlogs are expected to deliver sustained earnings growth, supported by rising global defence spending and increased procurement activity.” This article was written by Paul Golden at www.financemagnates.com.

Broadridge Financial Solutions reported a sharp rise in activity on its distributed ledger-based repo platform in April, as volumes continued to expand. The company said its Distributed Ledger Repo processed an average of $368 billion in daily transactions during the month, bringing total volumes to nearly $8 trillion. The daily average was up 268% year on year and rose nearly 4% from March.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).The results come amid Broadridge’s broader expansion into trading infrastructure and regulatory technology. It has agreed to acquire CQG, a provider of futures and options trading, execution management and market connectivity technology. The company has also launched a UK regulatory technology platform to help firms prepare for the Financial Conduct Authority’s Consumer Composite Investments regime, which will replace PRIIPs templates by June 2027.Tokenisation Drives Institutional Repo GrowthThe figures point to continued uptake among institutional users, with Broadridge linking the growth to increased use of tokenized real-asset settlement and broader adoption of distributed ledger technology in funding and collateral markets.Horacio Barakat, Global Head of Digital Innovation at Broadridge, said DLR is showing that tokenization can operate at scale within core market infrastructure. He said the platform is “expanding into new liquidity management use cases” and “integrating digital and traditional assets within a single framework,” while maintaining requirements for regulated markets.$BR Broadridge's Distributed Ledger Repo Achieves 268% Year Over Year Growth in Aprilhttps://t.co/9D20tC4HnF— Lycanbull (@Lycanbull) May 4, 2026Platform Combines On-Chain Off-Chain ProcessesDLR supports settlement of repo transactions on distributed ledger infrastructure, enabling intraday and sponsored repo activity and allowing collateral to move in real time between counterparties. The system combines on-chain and off-chain processes within existing trading and post-trade environments, aiming to improve capital efficiency without requiring parallel workflows.Broadridge also made a strategic investment in HQLAX in April, a provider of digital collateral mobility solutions, as part of its effort for collateral management and improve asset movement across securities finance markets. This article was written by Tareq Sikder at www.financemagnates.com.

Prediction markets are increasingly being built on a small number of liquid venues, but accessed through a growing number of interfaces. Wallets, exchanges, and fintech apps are emerging as the main entry points, shifting competition toward distribution and user experience.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)According to Alvin Kan, this split between liquidity and access may define the next phase of the sector. Platforms like Bitget are focusing on access and usability, rather than building their own markets. The assumption is that adoption will depend more on how markets are accessed than where they are hosted. When Liquidity Meets Accessibility and User Experience The difference between using a native platform like Polymarket and accessing markets through a wallet lies in how users access and interpret them, Kan explains. “Platforms like Polymarket are effective at liquidity and price discovery, but they typically require users to navigate multiple steps and interpret raw probabilities independently. Bitget Wallet adds a layer focused on accessibility and usability,” he says. From an access standpoint, users can move from funding to execution within a single mobile interface, aiming to reduce friction. From an interpretation standpoint, AI-assisted analysis helps aggregate data, news, and on-chain signals into more structured insights. Kan describes this as a shift in the category, from building markets to making them easier to access and understand at scale. Integrations vs. Building Its Own Markets Rather than launching its own prediction market, Bitget Wallet chose to integrate with existing infrastructure, as what appears to matter most to users is access to deep, liquid, and diverse markets, Kan explains. “Building a prediction market from scratch requires significant time to bootstrap liquidity, and without that, pricing and participation tend to remain limited. Integrating with an established platform like Polymarket allows access to meaningful markets from the outset,” he says. However, this approach relies on external infrastructure for liquidity and market structure, limiting control over areas such as listings and monetisation. According to Kan, this trade-off is a deliberate choice, as the wallet focuses on improving access, usability, and distribution rather than rebuilding the market layer. How to Simplify the Complexity Prediction markets require users to understand probabilities, outcomes, and risk, which can be difficult without earlier experience. Within a wallet, this is combined with additional steps such as funding, transaction signing, and position management. According to Kan, making a complex product accessible is a main challenge. “The goal is to simplify this into a single, coherent user journey, from discovering markets to understanding them, to executing trades,” he says. “At the same time, it is critical to maintain clarity around risk and outcomes, so simplification does not come at the expense of transparency.” Compliance Tied to the Access Layer Kan points out that access is managed based on local regulatory requirements. This means that certain jurisdictions may have restrictions on prediction market participation. “As a self-custodial wallet, Bitget Wallet does not custody user assets or operate the underlying markets. Instead, it provides access to on-chain protocols while ensuring users are informed of applicable limitations and are expected to comply with local regulations.” This is consistent with a broader Web3 model, where infrastructure and interface layers are distinct, but compliance considerations remain relevant at the point of access. Where Users Will Access Prediction Markets Over Time Kan expects a hybrid model to emerge. “Dedicated platforms like Polymarket will remain central to liquidity and price discovery, particularly for more active or experienced users,” he says. However, broader adoption is likely to come through more familiar environments such as wallets and exchanges. Users are less likely to navigate separate platforms for each interaction and more likely to engage through environments where their assets are already held. “Over time, we expect liquidity to concentrate, while access becomes more distributed. Wallets are well-positioned to serve as that entry point, making prediction markets more accessible without changing where the underlying markets operate.” This article was written by Tanya Chepkova at www.financemagnates.com.

If you spend any time in conversations about AI and financial services, you'll notice they tend to follow a pattern. Someone mentions faster execution. Someone else raises smarter signals. Personalisation at scale comes up. Frictionless everything. Everyone nods. It's not that any of it is wrong. It's that it skips the part that actually matters.I've been in financial services long enough to know that the interesting questions about any new technology are rarely about what it can do. They're about what happens when it lands in the real world, in the hands of people with very different levels of experience, making decisions under genuine uncertainty. That's the conversation we need to be having about AI right now. And I don't think we're quite there yet.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)What's Already in the RoomLet's be clear about one thing: AI isn't coming to trading. It's already here. It's been here for a while. It's just unevenly distributed and not always well understood. At the institutional end, this isn't news. Algorithmic and AI-driven execution, real-time sentiment analysis, and high-frequency pattern recognition have been standard practice for years. What's newer is the application of large language models to unstructured data: Earnings call transcripts, regulatory filings, and news flow.The ability to process and synthesise that kind of material faster than any human team is genuinely changing how institutional research and risk assessment work. That's a meaningful shift. For retail, the change has been more visible but perhaps less examined. AI-powered charting tools, personalised market summaries, automated alerts, in-app education: these have become fairly standard across most major platforms. But what's less visible, and arguably more consequential, is what's happening in the background - onboarding decision automation, suitability assessments, detection of unusual trading patterns that might indicate a problem. That's where AI is doing some of its most important work, quietly, without much fanfare.What's ComingThe next wave is less about execution and more about judgment. Agentic AI is what I watch most closely. The ability of AI systems to take sequences of actions on their own, to research, assess and act without needing a human prompt at every step, is already being tested in institutional settings. For retail, the implications are significant and not yet fully worked through. An AI system that monitors a portfolio and flags when something has changed materially is one thing. An AI that decides what to do about it is quite another. That distinction matters, and the industry needs to think carefully about where it draws the line.Personalisation is the other big one. The combination of behavioural data, trading history and AI modelling is producing systems that can genuinely adapt to individual users in ways that simply weren't possible before. For financial education, which I care about a lot, this is genuinely exciting. The ability to deliver the right context to the right person at the right moment, rather than generic content that may or may not land, could change how people engage with markets in a real and lasting way.Risk management is moving from detection to prediction, too. Identifying the patterns that tend to precede bad outcomes, rather than just flagging them after the fact. For anyone serious about client protection, that's one of the most valuable things on the horizon.The Bit that Keeps Me Up at NightThe same capabilities that make AI genuinely useful in the hands of a well-run, well-governed platform also make it genuinely dangerous in the hands of one that isn't. An AI optimised for engagement rather than outcomes could learn, very efficiently, how to keep people trading, even when that is not in their best interests. It will surface content that stimulates rather than informs. It will personalise in ways that exploit the biases it identifies rather than counteract them. AI doesn't change the incentive; it just makes the execution more precise. Whether AI accelerates the good version of what platforms can do, or the bad version, comes down entirely to intent and governance. That's it. We discussed governance at length at the House of Lords this week. The question isn't whether AI can increase the volume of information available to people. It's whether it improves the quality of the decisions they make with that information. Those are genuinely different problems. The governance frameworks being built right now, in regulation, in business practice, in how platforms are designed, will determine which one gets solved. The FCA's Consumer Duty is a step in the right direction. Requiring firms to demonstrate good outcomes rather than just disclose risks creates real accountability for how AI gets used. But regulation sets the floor. What happens above it is down to us. The firms that earn trust over the long term will be the ones that treat governance as a design principle, not a compliance exercise, and build AI that makes people better at decisions. Not just faster at making them. This article was written by Rupert Osborne at www.financemagnates.com.

Bitcoin (BTC) is surging at $79,810 on Monday, May 4, 2026, after touching $80,393 in early Singapore hours, the cryptocurrency's highest print since Jan. 31, 2026. The move pushed BTC above the $80,000 psychological level for the first time in three months and reclaimed the bull market support band that had capped every recovery attempt since November 2025. Asian equity benchmarks neared record highs in the same session, and Ether traded higher in sympathy. The rally followed President Donald Trump's announcement that the United States had responded to Iran's 14-point peace proposal and would begin escorting commercial vessels through the Strait of Hormuz, sending U.S. crude futures lower by nearly 5% and easing the macro headwind that had weighed on risk assets through the first quarter.Follow me on X for real-time Bitcoin analysis: @ChmielDkWhy Bitcoin Is Surging Today?Iran De-escalation, Oil Drop, and the $80K Psychological BreakThe catalyst stack is geopolitical first, technical second. Brent crude fell to $107 per barrel from a four-year high after Iran sent its updated proposal to mediators in Pakistan on May 1, and the U.S. response signaled a path away from a full Strait of Hormuz closure that had kept oil-linked inflation expectations elevated for two months. Risk assets reopened the conversation about Federal Reserve policy as soon as the oil tape moved."Markets are consolidating in a cautious tone as Middle East tensions drive oil-linked inflation risks, keeping the US Dollar supported and central bank expectations tilted hawkish while limiting conviction across risk assets," said Joel Kruger, Market Analyst at LMAX Group. Kruger's read frames the move as a relief rally rather than a decisive trend break, with the dollar trajectory still the gating variable for risk assets.The same dynamic played out in the FinanceMagnates.com April analysis on the Iran ceasefire and short squeeze setup, which tracked $471 million in single-day spot ETF inflows on April 6 and a $427 million short squeeze as the precursor conditions to the $80,000 test now unfolding. Three further drivers compound the move:Trump-Iran de-escalation: U.S. crude futures fell roughly 5%, with Brent at $107 from a four-year high near $130Strait of Hormuz commercial escort: removes the immediate tail-risk premium on oil and dollarBull market support band reclaim: first BTC close above the band in six monthsCME gap fill thesis: $79K-$84K gap pulls price toward the upper consolidation bandAverage ETF cost basis at $83K: mechanical magnet if the breakout holdsBitcoin ETF Flows and On-Chain Signals: The Institutional Bid UnderneathSpot Bitcoin ETF demand explains the timing of the breakout. April closed with $2.44 billion in net inflows, the strongest institutional month since October 2025, while May-to-date net inflows have already cleared $629 million per fund-level tracking. Cumulative net inflows since the January 2024 launch stand at $58.5 billion, with BlackRock's IBIT holding roughly 812,000 BTC and commanding 62% market share. Morgan Stanley's MSBT, which launched April 8, drew over $100 million in its first six trading days.The on-chain ledger reinforces the flow story. Wallets holding 1,000 BTC or more have added 270,000 BTC over the last 30 days, the largest single-month accumulation since 2013, while exchange reserves have fallen to a 7-year low last seen in December 2017. Both signals point to long-term holder absorption rather than retail-driven momentum.The risk gauge sits in the recent ETF tape. April 29 saw $89 million in net IBIT outflows, the largest single-day sell-off of the month and the end of a nine-day consecutive inflow streak. As the FinanceMagnates.com eToro CEO Bitcoin price prediction analysis detailed, weekly ETF inflows of $1.1 billion in mid-April were already tracking the strongest pace since January, and a sustained reversal would put the breakout thesis on hold.Bitcoin Technical Analysis: $75K Floor, $82K Ceiling, $92K-$98K If Breakout HoldsMy daily chart shows Bitcoin testing the upper boundary of a four-month consolidation range that runs from roughly $75,000 to just under $82,000. The $75,000 floor is reinforced by November 2025 lows, by the mid-March local top now flipped to support, and by the rising 50-day moving average converging into the same zone. The 200-day moving average sits just above the consolidation top at roughly $82,000, creating a confluence of resistance that has rejected every previous test since January.Today's $80,393 print breaks the consolidation top from the November range but stops short of the 200 EMA. As I wrote in my $74K target analysis two weeks ago, accumulation at $74K-$76K levels was the setup; today's session is the first confirmation that buyers showed up.As I wrote during the March bounce coverage, the bounce off $63,000 lacked the institutional-flow profile that this one has.In 15 years covering crypto and forex markets as Damian Chmiel, I've watched the 200-day EMA decide every multi-month BTC consolidation since 2022. The next daily close above $82,000 is the only confirmation that matters on my framework; everything before that is a wick."Bitcoin update. The price nicely held that $74k-76k zone and BTC is now trading above $80k. I personally hate early week breakouts but now that we have this breakout, today's low is going to be key to hold moving forward," wrote Crypto Mechanic on X. Bitcoin updateThe price nicely held that $74k-76k zone and $BTC is now trading above $80k.I personally hate early week breakouts but now that we have this breakout, today’s low is going to be key to hold moving forward. We can keep this low as our invalidation for further… https://t.co/mxqv3LwRU1 pic.twitter.com/2gAtefP8ua— Crypto Mechanic (@CryptomechanicX) May 4, 2026The trader's framing matches my read: today's daily low becomes the breakout invalidation level, and a daily close back below it puts BTC inside the consolidation band again.If BTC fails to clear $82,000 on a daily close, my base case is a corrective retest of $75,000. A break of $75,000 opens $66,000 as the next stop, with $61,000 to $62,600 as the deeper structural floor. A clean break above $82,000 unlocks the $92,000 to $98,000 zone last traded five months ago.Bitcoin Price Predictions: Bull and Bear ScenariosExternal targets remain wide. As I covered in my April $240K bull-case analysis, Q1 2026 ETF inflows reached $18.7 billion despite a 23% price drop, and institutional conviction never disappeared. The FinanceMagnates.com Standard Chartered and Bernstein revision report still puts year-end 2026 consensus at $150,000."Bitcoin broke above $80k. Highest in 3 months, key psychological level, middle of massive CME gap, above Bull Market Support Band for first time in 6 months, above key on-chain levels," posted Nic on X. Bitcoin broke above $80k!Here's why that's important:- Highest in 3 months- Key psychological level- Middle of massive CME gap ($79k - 84k)- Above Bull Market Support Band for first time in 6 months- Above key on-chain levels (True market mean, Short-term holder realised… pic.twitter.com/KawYtnqcdX— Nic (@nicrypto) May 4, 2026The trader flagged $83,000 as the average ETF cost basis and $84,500 as the closed CME gap target. Both sit inside my consolidation top zone, which means neither would confirm a directional trend on my framework; the 200 EMA does that work.Bitcoin Price Prediction FAQWhy is Bitcoin price going up today?Bitcoin is up over 2% to $79,810 on Monday, May 4, 2026, on three converging catalysts: Trump's response to Iran's 14-point peace proposal cooled oil-linked inflation expectations, Brent crude fell to $107 from a four-year high, and BTC reclaimed the bull market support band for the first time in six months. ETF flows turned positive in late April after a brief reversal, with $629 million in MTD inflows.How high can Bitcoin go in May 2026?My daily chart targets the $92,000 to $98,000 zone on a clean daily close above $82,000, the December 2025 to January 2026 highs cluster. Below that, the immediate technical magnets are $83,000 (average ETF cost basis) and $84,500 (closed CME gap). The 24/7 Wall St consensus pegs the May range at $73,500 to $83,500, with $85,000 to $88,000 unlocked only on a confirmed $80,000 monthly close.What does Bitcoin need to break above $80,000 sustainably?A daily close above the 200-day moving average at roughly $82,000 is the only confirmation that matters on my framework. Anything below that level keeps BTC inside the consolidation band that has defined trading since November 2025. The supporting conditions are continued spot ETF inflows above $300 million weekly, no Iran ceasefire collapse, and a softer dollar tone from the incoming Fed Chair this month.Where would Bitcoin go if the $80,000 breakout fails?A failed daily close above $82,000 sends BTC back to test the $75,000 floor, where the 50-day moving average and the November 2025 lows form the strongest confluence on the chart. A break of $75,000 opens $66,000 as the next stop, the early April 2026 swing low. Below $66,000, the deeper structural floor sits at $61,000 to $62,600, the lower consolidation boundary.What are Bitcoin price predictions for 2026?Year-end 2026 institutional targets span $130,000 (Bloomberg's Eric Balchunas, on the lower end) to $225,000 (Bit Mining's Wei Yang, on the bullish side). Consensus clusters at $150,000, the figure Standard Chartered and Bernstein both adopted in their December 2025 revisions. Grayscale projects a new all-time high above $126,198 by mid-2026, contingent on improving macro conditions and sustained ETF inflows. This article was written by Damian Chmiel at www.financemagnates.com.

Institutional FX trading volumes pulled back across major venues in April, with most platforms giving up a meaningful share of the gains they had posted a month earlier, as a US-Iran ceasefire and a softer dollar tone cooled the safe-haven activity that had powered first-quarter readings.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)FXSpotStream April ADV Falls to $142.3 BillionFXSpotStream, the multibank liquidity aggregation service, reported total average daily volume (ADV) of $142.3 billion for April, down roughly 18% from the $173.60 billion peak it set in March. Spot ADV came in at $100 billion, with the "other products" category contributing $42 billion.The platform still tracked above its year-ago readings. FXSpotStream had reported $122 billion in ADV for April 2025, putting this April roughly 17% higher year-over-year, even after the monthly slide.Cboe FX Surrenders Most of March GainCboe's spot FX platform processed total volumes of $1.18 trillion across 22 trading days, with ADV of $53.85 billion. That sits well below March's $74.47 billion daily print, a reading the company at the time described as a record on the back of a 43% year-on-year jump.The April number is also lower than the same month a year earlier, when Cboe's daily average reached $61.9 billion as Trump's "Liberation Day" tariff announcement on April 2, 2025 set off a heavy round of dollar selling and pulled traders into the venue.The retreat lands at a notable moment for the exchange. Cboe Global Markets reported first-quarter earnings on May 1, with revenue up 29% year-on-year to $728.9 million on the back of derivatives, equities and FX activity, even as it confirmed plans to cut headcount by about 20%.April 2026 Institutional FX Volumes at a GlanceIran Ceasefire Unwinds Safe-Haven Dollar BidApril's calmer FX backdrop traces back to a US-Iran two-week ceasefire announced on April 8, which triggered a sharp reversal in the dollar and oil. Brent crude fell below $100 a barrel for the first time since the conflict began in late February, removing the inflation pressure that had been propping up the safe-haven bid.That setup was a near mirror image of March, when escalating Middle East tensions, a roughly 3% Bloomberg Dollar Index gain and oil pushing toward $120 had channeled flow into spot FX venues. With the geopolitical risk premium fading through much of April, traders had less reason to reposition aggressively.The contrast with April 2025 also runs the other way. A year ago, Trump's tariff rollout on April 2 had driven record activity across both retail brokers and institutional platforms, with FXSpotStream notching a 33% year-on-year rise and Cboe its strongest April on record at the time.360T and Euronext FX Slide as Calendar Holds SteadyDeutsche Börse's 360T processed total volumes of $858 billion in April with ADV of $39 billion, down from $48.93 billion in March. The April figure is essentially flat against the $39.58 billion the platform reported in April 2025, a notable softening given how much the broader institutional FX backdrop has improved over the past year.Euronext FX took a sharper hit. The platform recorded total volumes of $646.2 billion with ADV of $28.1 billion, down nearly 30% from March's $39.71 billion and roughly 24% below the $37.21 billion daily average it posted in April 2025. The gap with 360T, which had narrowed to $9 billion per session in March, widened back to about $11 billion in April.Both platforms ran across the same 22 trading days as Cboe and FXSpotStream, so the calendar offers no easy explanation for the slide.Tokyo Yen Pairs Buck the Trend on Turkish Lira SurgeThe Tokyo Financial Exchange's Click 365 platform was the lone outlier. The venue reported 1,999,422 contracts traded in April, up 0.8% from March, with ADV of 90,885 contracts. Year-on-year, however, the platform was still down 11.8%, reflecting tough April 2025 comparables when USD/JPY trading surged 61.6% month-on-month on tariff-driven yen volatility.The standout story sits in the exotic crosses. Turkish lira to yen volume reached 612,981 contracts, up 28.5% from March and a striking 220.4% year-on-year, putting it ahead of USD/JPY as the platform's most actively traded pair. USD/JPY itself came in at 501,430 contracts, up 4.2% month-on-month but down 41.9% from a year earlier. This article was written by Damian Chmiel at www.financemagnates.com.

The Australian Securities and Investments Commission (ASIC) has reminded digital asset firms that they have less than two months to lodge an Australian Financial Services (AFS) license application or risk falling foul of the country's financial services laws.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)The Clock Is Ticking on Australia's Crypto License SweepThe regulator said today (Monday) that providers offering services tied to digital asset financial products must decide whether they need a new AFS license, or a variation to an existing one, and apply by June 30, 2026. After that date, ASIC's sector-wide no-action position falls away, exposing unlicensed firms to civil and criminal penalties that can reach up to 10% of annual turnover.Companies seeking an Australian Market Licence or a Clearing and Settlement facility license face an additional step. They must notify ASIC in writing of their intention to apply and hold a pre-application meeting before the same June 30 deadline.ASIC's Information Sheet 225, refreshed last year, now classifies stablecoins, wrapped tokens, tokenised securities and digital asset wallets as financial products under the Corporations Act.That definition pulls a much wider slice of the local crypto industry into the AFS licensing perimeter than the previous interpretation, which centered on platforms trading conventional digital tokens.What the No-Action Window Actually BuysThe no-action letter, published in October 2025, gave providers a runway to digest the updated guidance and either apply for fresh authorizations or vary existing ones. ASIC has said the position is not a safe harbor against private litigation or non-ASIC enforcement, and it expires for everyone on the same date.Some firms can comply by becoming an authorized representative of an existing AFS licensee rather than securing their own license, depending on the services they provide. ASIC has also kept in place earlier relief instruments covering the distribution of certain stablecoins and wrapped tokens. Those carve-outs currently apply to a single issuer, Catena Digital, which issues the AUDM stablecoin.The licensing pipeline has already started to swell. ASIC granted 290 new AFS licenses in the financial year to June 2025 while cancelling or suspending 215 others, with applications from digital asset operators rising notably, Commissioner Alan Kirkland said at the time.How Australia's Approach Compares to Global PeersAustralia is moving toward a destination several other major jurisdictions have already reached, though by a different route. The European Union's Markets in Crypto-Assets regulation took full effect in December 2024, requiring exchanges, wallet providers and stablecoin issuers to obtain a MiCA license to operate across the bloc. Penalties for non-compliance under MiCA can reach 12.5% of annual turnover, slightly above Australia's threshold.In Asia, Hong Kong opened its stablecoin licensing regime in April and granted its first approvals to HSBC and Anchorpoint. Japan moved its crypto sector under the Financial Instruments and Exchange Act earlier this year and banned insider trading in digital assets. Singapore continues to license payment service providers under its 2019 Payment Services Act.Enforcement Track Record Adds PressureRecent enforcement gives the deadline real teeth. The Federal Court of Australia fined Binance Australia Derivatives AU$10 million in March after the company admitted misclassifying more than 85% of its local clients. In December 2024, Bit Trade, the local operator of Kraken, paid AU$8 million over a leveraged margin extension product the court found breached design and distribution obligations.ASIC has also flagged offshore venues offering high-leverage products to Australians, including a public warning against Bitget over its 125x crypto futures. The regulator has signalled that the same scrutiny will follow firms that miss the AFS license window.A Second Deadline Comes in 2027The June 30 cutoff is not the end of the road. The Corporations Amendment (Digital Assets Framework) Act 2026, which cleared parliament on April 1, received Royal Assent on April 8 and commences April 9, 2027. It introduces dedicated authorizations for digital asset platforms and tokenized custody platforms, both supervised by ASIC.Many firms that secure an AFS license under the current INFO 225 guidance will need to add DAP or TCP authorizations once the new regime starts. ASIC has published a roadmap covering its consultation timetable and the operational standards it expects to set during the 18-month implementation period."Licensing firms improves investor protections and provides greater certainty to providers to operate under the law," ASIC said in its statement. This article was written by Damian Chmiel at www.financemagnates.com.

Sky Links Capital said it expects client trading volume in gold spot to climb 30% and gold futures to rise 27.5% in the first half of 2026 versus the second half of 2025, the broker disclosed in a platform update today (Monday). The Dubai-based firm did not provide the underlying dollar figures behind those percentages, leaving the scale of the activity unclear.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)Sky Links Capital Forecasts 30% Gold Volume Jump for H1 2026The broker, founded in mid-2024 by former BDSwiss MENA chief executive Daniel Takieddine, also projects gold spot growth of 25% in the second quarter of 2026 versus the first quarter, and gold futures growth of 30% over the same period. The figures come from internal platform data and current run-rate assumptions, the company said, with the second quarter only one month old."Gold volume is a useful proxy for how clients behave when risk is front of mind," said Daniel Takieddine, co-founder and chief executive of Sky Links Capital Group."In periods of heightened volatility, trading activity often concentrates in a small number of highly liquid markets."Sky Links Capital described gold spot as the largest share of activity on its platform, followed by gold futures and EUR/USD. For historical context, the firm said gold spot volume rose 18.8% between the first and second halves of 2025. None of those figures arrived with the absolute volume base they refer to.Competitors Disclose Trillions in Q1 VolumesThe lack of absolute numbers stands out against a wave of broker disclosures over the past two weeks, most measured in trillions of dollars. CFI Financial Group reported $2.3 trillion in trading volume for the first quarter of 2026, up 11% quarter on quarter and 81% year on year, with 2025 full-year volume reaching $6.4 trillion. EC Markets posted $5.13 trillion for the same period, while Capital.com reported $1.27 trillion.CFD broker ACCM also leaned on gold to drive its Q1 numbers, posting $2.14 trillion in total volume with gold accounting for 91% of CFD activity. Within ACCM's data, gold trading reached $1.09 trillion in March alone, with the broker disclosing both the share and the dollar figure. Capital.com offered similar granularity, noting January was its busiest month with around $502 billion in volume and that gold accounted for 59% of the month's activity.Other brokers have also put numbers on the table. Hantec Markets reported Q1 volume of $1.2 trillion, while Startrader said it processed $3.1 trillion in the first three months of the year. Gold Backdrop Has Cooled Since the January PeakThe metal driving these volume disclosures has been one of the most volatile assets of 2026 so far. Spot gold pushed to a record intraday level above $5,500 per ounce in late January, with the World Gold Council placing the historical high at $5,405 and an intraday peak near $5,589 on January 28. Prices have since pulled back toward the $4,600 area amid hawkish Federal Reserve signaling and dollar strength, as reported by FinanceMagnates.com last week.Despite the correction, gold remains the dominant retail trading instrument across CFD brokers. Industry data has shown gold contracts accounting for as much as 80% to 90% of metals CFD volumes at some firms during the rally, a concentration that has reshaped how brokers manage liquidity and risk on a single instrument.Equity Desk ActivationAlongside the volume update, Sky Links Capital said it has activated a Dedicated Equity Desk for professional and sophisticated investors, offering execution in cash equities and equity CFDs subject to instrument availability and applicable rules. The firm holds a Category 5 license from the UAE Securities and Commodities Authority, secured in early 2025, alongside entities registered in Mauritius and Saint Vincent and the Grenadines. Takieddine launched the broker in mid-2024 after leading BDSwiss in the MENA region, and incorporated a Dubai International Financial Centre holding company last year."Sustained engagement comes from clarity and reliability, especially when markets are noisy," said Apollo Irungbam, head of marketing at Sky Links Capital. "Clients want a stable operating model, plain-language support, and execution workflows that match how they trade across markets."The broader retail FX and CFD industry now has 7.42 million active accounts, according to FM Intelligence data, with named-broker volume comparisons available across the group. This article was written by Damian Chmiel at www.financemagnates.com.

FundedHive founder and chief executive Thomas Heinfart called the prop trading industry's consistency rule FundedHive CEO Calls Consistency Rule “a Payout Trap” in Pointed Industry Critiquea and said only a single-digit percentage of his traders stay funded long term, in remarks published this week by ResponsibleTrading.com.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)"The one rule we would remove from the industry is the consistency rule, because in most cases it is not a real risk-management tool. It is a payout trap," Heinfart said. The rule, applied in different versions across the sector, typically caps the share of total profit that can come from a single trading day, requiring traders to keep trading until results look more evenly distributed before they can withdraw.Heinfart said FundedHive operates "zero consistency rules on any of our challenges," alongside no IP restrictions, and that the firm permits gold trading and news trading. He framed the issue as a question of business model rather than trader leniency. "The biggest mistake many failed firms made was that they were not built as risk-management businesses. They were built as marketing machines," he added.Industry Pushback Against Consistency Rules Is Not NewMyFundedFX introduced a 50% consistency guideline in July 2024 and reversed it two weeks later after sustained client pushback. A PipFarm survey of around 500 active prop traders, exclusively shared with FinanceMagnates.com the following month, found 53% of respondents listed consistency rules among the features they most wanted to avoid in a prop firm offering, second only to trailing drawdown.Consistency-style mechanics still appear in different forms across the sector's largest firms. FundedNext, FundingPips, and Hola Prime all build their funded-stage rules around minimum trading days and structures that reward steady performance, with FundedNext requiring a minimum of two trading days on its Stellar 1-Step program and FundingPips applying a three-day minimum on its 1-step path.Heinfart drew a distinction between rules in general and how rules are used. "The honest answer is that prop firm challenges are supposed to be difficult, because real capital exposure cannot be given to traders without proof of risk control," he said. "The problem is not that rules exist. The problem is when rules are hidden, vague, changed retroactively, or used manually to avoid paying traders."Trust Concerns Sit at the Heart of the SectorThe sector has spent the past 18 months absorbing trust-related shocks. The Funded Trader suspended payouts in March 2024 citing an internal audit and was still working through the backlog more than a year later. FundingTicks faced trader backlash in December 2025 over what clients called retroactive changes to profit splits and trade-holding rules. Hola Prime more recently hired Deloitte to audit five months of withdrawals, with the Big Four firm reporting that 98.35% of payouts cleared within an hour and none were rejected.Heinfart said FundedHive has not changed rules retroactively on existing funded accounts. "This is one of the most important trust principles in our company," he said. He also told ResponsibleTrading.com that the firm's payouts execute through smart contracts and that manual denial is not possible once eligibility is confirmed, with withdrawals typically processed in under 60 seconds, according to the company. Those claims have not been independently audited.Pass Rates Stay Low Across the IndustryAsked about FPFX Technology data showing only 7% of challenge buyers ever receive a payout, Heinfart said "the 7% figure does not surprise us" and called it a realistic number for traditional two-step models. He said FundedHive's faster one-step and instant-funding products produce withdrawal ratios in the 20% to 30% range, though those figures are self-reported.Asked what share of his traders he believed had what it takes to stay funded long-term, defined as remaining eligible across multiple payout cycles, Heinfart was more candid. "Honestly it is a single-digit percentage. Probably under 10%," he said. The Funded Trader's own client statistics, shared earlier this year, suggested only 1% to 2% of its clients ultimately make money on the platform.Heinfart's advice for traders trying to maximize the chances of getting paid played to the same theme. "Stop trying to 'beat the challenge' and trade as if you are already managing real A-book exposure, because the traders who get paid are usually not the ones taking the biggest shots, they are the ones who stay eligible, controlled, and consistent," he said.RegulationOn regulation, Heinfart said the industry could not assume it would stay outside the perimeter forever. "We do not believe serious prop trading should be treated as gambling. But we also do not believe the whole industry can hide behind the word 'evaluation' and pretend regulation never applies," he said. The remarks come as ESMA, the FCA, and the CFTC continue to study how prop trading firms should be classified, with the CFTC's case against My Forex Funds dismissed in May 2025.Asked which competitor he respects most, Heinfart named FTMO, the Czech firm that acquired OANDA in 2025. He said the company "proved something important: a prop firm can become a serious global company when it builds brand trust, technology, operational discipline, and long-term infrastructure instead of only selling hype." This article was written by Damian Chmiel at www.financemagnates.com.

IG MENA sees record volumes, plans new app launchIG Group is seeing steady growth in the Middle East as it strengthens its presence and adapts to changing market conditions. According to MENA CEO Sharaz Hussain, the broker’s Dubai office continues to attract walk-in interest, with some visitors simply confirming the company’s physical presence, while others arrive ready to apply.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)He also noted plans to launch a new app later this year, highlighting IG’s broader ambition to evolve into a financial super app. Despite recent regional disruptions, March marked a record month for trading volumes in the region. The Dubai office, established in 2015 within the Dubai International Financial Centre, serves as IG’s regional hub and employs around 25 staff.The location has become an important contributor to the firm’s performance, generating £28.7 million in net trading revenue for the year ending May 2025, up from £18.9 million a year earlier.At the same time, IG Securities (IG Japan) apologized after discovering improper handling of customers’ “specific personal information,” including My Number data. The firm identified two issues. First, some IG Group employees had unauthorized internal access to customer data through an internal system. This data included names, dates of birth, addresses, contact details, and My Number information, although the start date of the access remains unclear.Second, customer data was stored on an external server managed by IG Markets Limited without prior approval from IG Securities, around late January 2026. The company said the external provider could not access the stored data. In total, 162,879 customers were potentially affected by the internal access issue, while 29,734 customers had their data stored on the external server.Capital.com signals EMI ambitions with Cyprus CEO searchCapital.com is recruiting a Chief Executive Officer to lead a Cyprus-based Electronic Money Institution (EMI), according to a LinkedIn job posting. The role would be regulated by the Central Bank of Cyprus and subject to its “fit and proper” approval process, as required for senior EMI positions. The move suggests the broker may be pursuing direct ownership of an EMI rather than partnering with an existing provider. The firm confirmed it is exploring the development of an EMI business as part of its long-term strategy, although it has not disclosed whether it has secured a license.Capital.com plans to establish local operations in Bahrain and Azerbaijan and open a new branch in Germany. The broker is hiring local Directors in Bahrain and Azerbaijan to oversee day-to-day activities, as well as a Head of Branch in Germany who will be responsible for setting up, managing, and growing the new office.These locations are not currently listed among the company’s existing offices, which are mainly in Europe, including Cyprus, Poland, Italy, Lithuania, and a customer support hub in Bulgaria. The move aligns with Capital.com’s broader international expansion strategy. While the firm has not officially confirmed entry into these specific markets, it stated that it regularly reviews its global presence to determine where regulated operations can best serve clients.CFI secures Brazil brokerage licenseAlso expanding, CFI Financial Group secured authorization from Brazil’s central bank to operate as a securities brokerage firm. The Banco Central do Brasil approved CFI to act as a Corretora de Títulos e Valores Mobiliários, enabling it to offer local clients access to equities and fixed-income securities. The approval expands the Dubai-based group’s regulatory footprint to 15 licenses globally and marks its entry into the Brazilian market after focusing on growth across the Middle East, Africa, and parts of Latin America. CFI reported $2.3 trillion in trading volume in Q1 2026, up 11% quarter-on-quarter and 81% year-on-year, with total 2025 volume reaching $6.4 trillion and active clients rising 18%.The broker said the growth was driven by higher client activity across markets and continued expansion in new client acquisition, with active clients rising 18% year-on-year and 15% quarter-on-quarter. New clients rose 27% from the prior quarter, while net deposits increased 39% over the same period.EC Markets hits record Q1 volumeIt has been a busy week of financial reporting, as brokers publish first-quarter results. EC Markets reported total trading volume of $5.13 trillion in the first quarter of 2026, up 14.6% from the previous quarter. The increase places the broker among the top three globally by trading volume, driven by higher trading activity and a rise in active clients.? Q1 2026: EC Markets Hits $5.13T Quarterly Trading Volume! ? +14.6% vs Q4 2025? $1.709T monthly average? 272K active traders (+18.3%)Maintaining our position as 3rd globally by trading volume.#ECMarkets #FinanceMagnates #TradingGrowth #CFDs #Forex pic.twitter.com/ksAuuK4ick— EC Markets Global (@EcmarketsGlobal) April 23, 2026The broker posted steady growth across key metrics, with average monthly volumes reaching $1.709 trillion and daily volumes at $81.4 billion. Compared to Q4 2025, daily trading activity climbed 18.3%, while monthly volumes rose 14.5%.XTB adds 370K clients as Q1 profit hits PLN 535MXTB also posted record financial results for the first quarter of 2026, with strong year-on-year growth across key metrics. Net profit rose to PLN 535 million, marking a 176% increase compared to the same period last year. Operating income also climbed significantly, reaching PLN 1.09 billion, up 88.5% year-on-year. Alongside its financial performance, XTB expanded its sports sponsorship activities. The company recently became the Global Trading Partner of Italian football club SSC Napoli, adding to its existing sponsorship presence across football, MMA, basketball, tennis, and boxing.iForex IPO year ends in $3.2M loss on rising costsAt the same time, iForex, the CFD broker that went public earlier this year, reported a slight decline in revenue for 2025. Annual revenue fell 2% to $49.1 million, while adjusted pre-tax profit dropped 4.3% to $1.6 million. The company recorded a net loss of $3.2 million for the year, compared to a $6 million profit in 2024. Its adjusted EBITDA also fell sharply by 55.7% to $4.3 million, with the EBITDA margin narrowing to 8.8% from 19% a year earlier.CySEC turns 30In the regulatory front, CySEC marked its 30th anniversary this week, offering a chance to reflect on how it grew into one of Europe’s most influential retail trading regulators. Established in 1996, it only became an independent public body in 2001. In its early years under Chairman Marios Clerides, the focus was not on supervising a large brokerage sector but on building a regulatory framework before the industry fully developed. A major turning point came in 2004 when Cyprus joined the EU, allowing firms to passport services across Europe and turning the country into a gateway for financial services. The introduction of MiFID in 2007 further strengthened this position by formalizing the Cyprus Investment Firm structure and expanding market access, alongside the creation of the Investor Compensation Fund.Hola Prime taps Deloitte to audit payoutsIn the prop trading space, Hola Prime commissioned Deloitte to independently review its payout processing between October 15, 2025 and March 15, 2026, with the audit finding that 98.35% of withdrawal requests were completed within the firm’s one-hour target and none were rejected, according to documents seen by FinanceMagnates.com. The use of a Big Four auditor stands out in a prop trading sector where payout transparency is typically based on internal dashboards, company disclosures, or blockchain trackers that cannot consistently distinguish trader payouts from operational flows.The review comes amid rising competition around transparency as payout reliability remains a concern across the industry. Hola Prime, registered in Hong Kong and operating its brokerage under a Mauritius Financial Services Commission license, says it has paid out approximately $3.2 million to funded traders to date, including around $2 million in Q1 2026.Fintokei touts sub-second payoutsFintokei said this week that it reduced trader payout times to seconds, positioning speed as a key competitive feature among prop trading firms. The Czech-based company, owned by Purple Group, stated that its automated system can transfer funds from a withdrawal request to a trader’s wallet almost instantly using its proprietary Walletory e-wallet, bypassing traditional banking infrastructure. The firm said it achieves this by continuously monitoring trader accounts and completing compliance checks in advance, so validation is already done when a withdrawal is requested. Fintokei reported a 99.9% approval rate, though this has not been independently verified.Plus500 amid split lawsuits in US prediction marketsMeanwhile, in the prediction markets, U.S. regulators are increasingly divided over how to classify prediction markets, with some treating them as financial derivatives and others as gambling products. This split has triggered a wave of legal battles, effectively pushing the issue into the courts. The conflict escalated recently as the CFTC sued Arizona, Connecticut, and Illinois for intervening against prediction platforms, arguing that such actions undermine federally approved markets. In response, New York’s Attorney General filed lawsuits against Coinbase and Gemini, accusing them of running illegal gambling operations, prompting swift federal pushback to defend its authority.“Set and forget” investing fadesThe investment world is packed with catchy sayings, many made famous by Warren Buffett. Phrases like “be fearful when others are greedy and greedy when others are fearful” and “price is what you pay, value is what you get” have become guiding principles for investors everywhere. Even older market wisdom like “sell in May and go away” still gets attention.According to RBC BlueBay, longer life expectancies are reshaping what investors need from their money, and a completely hands-off strategy may no longer deliver the results people expect. While there’s plenty of talk about wealth shifting to younger generations, baby boomers still hold more than half of all wealth in the US.Executive moves of the week: EWMP, TraditionData For the executive moves, Richard Elston joined EWMP Management Consulting as a strategy consultant. EWMP is part of Edgewater Markets Group, a firm that provides institutional liquidity and execution services, with a focus on metals and foreign exchange. At the same time, TraditionData appointed Shynna Lee as Head of Sales and Partnerships for Asia Pacific, the company announced on Monday. Lee, who is based in Singapore, joins from London Stock Exchange Group and becomes the latest addition to a regional team the firm has been expanding. This article was written by Jared Kirui at www.financemagnates.com.

Interactive Brokers Group, Inc. released its Electronic Brokerage metrics for April, showing continued growth in client assets and accounts, while trading activity eased from the previous month.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).The April data follows a similar pattern to March, with trading activity easing month-on-month while client assets and accounts increased.Interactive Brokers Client Equity Hits $870BDaily Average Revenue Trades totaled 4.241 million. This was higher than a year earlier but slightly lower than in March. Client equity rose to $870.9 billion at the end of April, up 48% year-on-year and 10% from the prior month.Margin loan balances reached $91.3 billion, increasing 57% compared to last year, indicating higher use of leverage. Client credit balances stood at $175.6 billion, also rising on an annual basis. The number of client accounts climbed to 4.859 million, up 31% from a year earlier. The average commission per cleared order was $2.70, including exchange and regulatory fees.On execution costs, the company said IBKR PRO clients’ total cost of trading U.S. stocks was “about 2.4 basis points of trade money,” based on a VWAP benchmark.Interactive Brokers Expands Crypto Trading AccessBeyond its core brokerage activity, the firm has been expanding into digital assets alongside traditional markets over recent years.It has introduced crypto trading through earlier integrations, including partnerships such as Paxos and rollouts in the UK.In its latest step, the firm now allows eligible retail investors in the European Economic Area to trade crypto assets through Interactive Brokers Ireland Limited.The platform supports 11 crypto-assets alongside equities, options, futures, currencies, bonds, and mutual funds. Clients can also transfer existing cryptocurrency holdings into linked accounts, enabling trading without prior liquidation. The firm said the expansion is aimed at simplifying access and improving transparency across asset classes. This article was written by Tareq Sikder at www.financemagnates.com.

SBI Holdings has started formal talks to acquire a stake in Bitbank, one of Japan’s larger domestic cryptocurrency exchanges. The Tokyo-based brokerage group submitted a letter of intent to Bitbank on Friday, stating that it aims to turn the platform into a consolidated subsidiary after due diligence and internal approvals.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).Bitbank operates the “bitbank” exchange and focuses on crypto-related services. The company, founded in 2014 and headquartered in Tokyo’s Yaesu district, holds registration as a crypto asset exchange operator with the Kanto Local Finance Bureau.It also has a money lender license from the Tokyo Metropolitan Government. Bitbank says it prioritizes security and market development and has promoted wider use of cryptocurrencies under Japan’s existing regulatory framework.SBI Eyes Bitbank Deal amid Japan’s Tightening Crypto RulesThe planned acquisition comes shortly after SBI reorganised part of its crypto business at home. Earlier, SBI VC Trade absorbed Bitpoint Japan in an effort to improve operational efficiency and profitability by using management resources more effectively. SBI positions the potential Bitbank deal as another step to build scale in crypto trading and infrastructure within the group.Japan is also preparing to tighten its treatment of digital assets. The government is working on changes that would bring crypto assets within the scope of the Financial Instruments and Exchange Act, the main law that governs securities such as shares and bonds.You may also like: SBI Group’s Crypto Arm Reportedly Loses $21 Million in Suspected North Korean HackThe revised rules could apply from fiscal 2027 if lawmakers approve the amendments. SBI says it expects that adding Bitbank to the group and pursuing synergies among its crypto businesses will help it secure a stronger position in the domestic market as this new regulatory framework takes shape.SBI’s push to buy into Bitbank comes on the back of several recent crypto and digital-asset initiatives that target both retail savers and institutional clients. Earlier this year, its crypto arm SBI VC Trade rolled out a USDC stablecoin lending service for Japanese individuals. The product offers fixed‑term, yen-accessible exposure to a dollar‑pegged asset, giving local savers a way to earn yield on USDC within a regulated domestic framework rather than turning to offshore platforms.SBI Expands Crypto Push with TokenizationAt the infrastructure level, SBI has teamed up with Web3 firm Startale to build a dedicated blockchain venue for tokenized asset trading. The project, often described as a blockchain exchange for tokenized securities and real‑world assets, aims to support 24/7 trading for institutions across Asia. SBI has also moved to deepen its institutional reach through a strategic investment in U.S. prime broker Clear Street. As part of that deal, the firms plan a joint venture in Japan to bring Clear Street’s clearing and prime brokerage capabilities to local hedge funds and professional investors. Together with the Bitbank talks, these steps show SBI trying to stitch together retail yield products, tokenized‑asset infrastructure and institutional market access into a single, more integrated digital‑asset offering. This article was written by Jared Kirui at www.financemagnates.com.

Cboe Global Markets reported higher revenue and earnings for the first quarter of 2026, alongside continued execution of its strategic realignment focused on core businesses, portfolio simplification, and cost discipline.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).Net revenue rose 29% year-on-year to $728.9 million, supported by stronger activity across derivatives, equities, and FX markets. Diluted earnings per share increased 54% to $3.66, while adjusted EPS rose 48% to $3.70.Options activity was a key driver during the quarter, with index options reaching record volumes and supporting growth in the derivatives business.Chief Executive Officer Craig Donohue said the company is executing a strategic review initiated in 2025 to sharpen focus on core earnings drivers. He confirmed the planned sale of Cboe Canada and Cboe Australia and said further organisational changes are expected to reduce headcount by about 20%.Costs Rise, Guidance Lifted, Taxes FallOperating expenses increased to $223.3 million from $211.3 million a year earlier, driven mainly by higher compensation and bonus accruals linked to stronger performance. Adjusted operating expenses also rose slightly.The effective tax rate declined to 25.2% from 28.4% a year earlier, reflecting the resolution of uncertain tax positions with state and local authorities.The company raised its 2026 outlook, now expecting organic net revenue growth in the “low double-digit to mid-teens” range, up from prior guidance of mid single-digit growth. It also lifted its Data Vantage outlook and lowered full-year adjusted expense guidance to $838 million to $853 million, citing efficiency actions tied to its realignment.Revenue Rises as Restructuring ContinuesChief Financial Officer Jill Griebenow said the company delivered an “exceptional first quarter,” highlighting growth across derivatives, cash equities, and data services, supported by strong index options activity.Options revenue rose 33% to $467.6 million, driven by higher volumes and pricing, though market share declined to 29.1%. North American equities and Europe/APAC equities posted double-digit growth, while FX revenue rose 38% to a record on higher trading activity.Donohue said the restructuring is being implemented from a position of strength and is aimed at increasing investment in areas including event markets, tokenisation initiatives, and expansion of clearing services in the US and Europe. He added that the changes are intended to support long-term growth and capital allocation discipline. This article was written by Tareq Sikder at www.financemagnates.com.

GC Exchange Limited, the UK entity of GCEX Group, reported turnover of £2.77 million for the year ended 31 December 2025.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!).The company recorded a pre-tax loss of £545,191. It said the loss was “driven in part by increased investment in headcount, compliance infrastructure and marketing.”GCEX Reports Recurring Revenue GrowthThe firm reported growth in recurring revenues, including white label platform fees and minimum monthly trading fees. It said this supported a more predictable revenue base as the business scales.The company maintained its capital requirements during the period. It also reported a positive revenue trend in the fourth quarter of 2025, which continued into early 2026.Lars Holst, Founder and CEO of GCEX Group, said the results reflect a year of investment. He stated the firm “invested deliberately and carefully in the foundations for long-term growth.” He added there was “continued momentum in recurring revenues” and “a positive trajectory heading into 2026.” He also said “regulation is part of the foundation of a sustainable institutional business.”GCEX Builds Institutional Digital InfrastructureAt the group level, GCEX reported progress across its international operations. Its entities in Dubai and Copenhagen contributed to higher client activity, trading volumes, and recurring revenues. The firm said institutional demand for regulated digital asset and FX services increased across its regions.In December 2025, GC Exchange A/S received authorisation as a Crypto-Asset Service Provider under the Markets in Crypto-Assets Regulation from the Danish Financial Supervisory Authority.The group said this expands its regulatory footprint in the UK, the EU, and Dubai, where it is licensed by the Dubai Virtual Assets Regulatory Authority.The company also engaged Archax to approve its UK financial promotions. It said this supports its ability to communicate with prospective clients in line with local rules.During the year, GCEX continued to develop its XplorDigital technology suite, including XplorSpot, XplorTrader, and white label solutions. It said these contributed to growth in recurring platform fees. This article was written by Tareq Sikder at www.financemagnates.com.

“We increased marketing spend before the IPO to increase our brand visibility and gain traction, iForex’s CEO, Itai Sedah, told Finance Magnates in an interview after the broker published its first results as a public company, but “we did not gain that benefit of being a public company after the listing postponement.” The broker is now “very careful and measured in increasing marketing spend, and is also working on AI integration.” Meanwhile, it is starting an expansion drive and will “start with a Category 5 licence in the UAE.”Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)“Extra Marketing Spend Did Not Convert into New Users as We Expected”iForex, one of the very few publicly listed CFD brokers, released its 2025 numbers with a net loss. Although its revenue was very similar to the year before, IPO and marketing costs pushed the company into losses.Last year was also mixed in terms of trading demand. “In the first half of the year, we saw very good volatility and very encouraging numbers,” said Sadeh. “Then Q3 came with extremely low volatility… In Q4, we saw normalised volatility again.”The broker’s client acquisition costs also jumped to $695 last year from $401.The rising cost was due to the broker’s increased marketing spending before the IPO aimed at “gaining additional clients, especially in Europe, which is a very expensive market,” according to Sedah. “Once we needed to postpone the IPO, we did not gain the benefit of being a public company, and therefore that extra marketing spend did not convert into new users as we expected. So this was the main reason for the increase in the client acquisition cost.”Read more: Newly Public iForex Had a Stressed 2025, Turned a $3.2 Million Loss as Costs MountHe highlighted that the broker went back to its “normal levels” and is now “planning to be very careful and very measured in increasing marketing spend.”According to the latest results, the broker spent $42.5 million on selling and marketing, up from $35.9 million a year ago. Its media expenses increased by $4 million to $9.4 million, compared to $5.5 million in 2024. About $3.5 million of cash marketing expenditure was deployed in the European market.Original Plan Was Only a 10 Per Cent Float, but “That Would Be Extremely Low”He also explained that the broker’s IPO postponement created some disruption in its strategic planning, especially in the marketing budget. “We anticipated the June IPO and started increasing marketing spend in preparation for that IPO,” Sadeh added. “Then, when the IPO got postponed, we could see the expected uplift from that marketing budget.”The February IPO made iForex the first pure-play CFD broker to go public in almost a decade. Although eToro went public last year, the broker has been positioning itself as a multi-asset platform, with CFDs being only a portion of its broad offering.iForex, however, has a very low free float in the market, making the stock almost illiquid.“The strategy was to take the company public because we believe that becoming publicly listed will assist the business,” Sadeh said. “It is first and foremost a strategic move to assist the business.”“Originally, we planned to offer a minimum of 10 per cent float,” he revealed. “We understood that would be extremely low and probably not in favour of our new investors and partners, and therefore we increased it to 20 per cent.”The majority of shares in iForex are still held by its founder, Eyal Carmon, who did not sell any of his holdings in the IPO.iForex’s origin can be traced back to 1996, when it operated under a different brand name. It received its Cyprus licence in 2011 and its BVI licence in 2013.“The founder and employees, who hold an additional approximately 20 per cent, are under lock-up provisions for the next year or two,” Sadeh added. “We have a hard lock-up of one year and then an orderly market period of an additional one year. I assume that when the lock-up is lifted, some of the employees or maybe the founder will sell their shares so that the free float will increase eventually.”“We Do Not Advertise Locally”“We are now on track to proceed with our strategic plans,” Sadeh said. One of the priorities of iForex, as mentioned in its financials, is geographical expansion. “We are in advanced stages of starting the process of gaining a licence in the UAE.”iForex is becoming another CFD broker, to get the Cat 5 license in the UAE, rather than becoming a full local broker with a much more expensive Cat 1 license. The Cat 5 license, however, will allow it to promote and market services there locally for its offshore unit. For the broker, that arrangement appears sufficient now.Read more: CFD Brokers Flock to Dubai, but Few Go All InThe UAE expansion is also very strategic, as the Middle East is one of the top markets for the broker. Out of its $49.1 million total revenue in 2025, $14.7 million came from the Middle East and Africa region, followed by $18.7 million from East Asia, which is primarily Japan. Another top market for the broker is South Asia, dominated by India, which brought in $9.4 million.Interestingly, iForex does not hold any licence in any of its top markets and operates there on a reverse solicitation basis.“We work through our BVI licence on a reverse solicitation basis,” Sadeh stressed, adding: “We have obtained legal opinions from all of the main markets in which we onboard clients.”“We do not advertise locally in the UAE (or anywhere we do not have a local licence). Now we want to enhance our presence in the market with a local licence, a local presence in the market, and local advertising.”Sadeh also stressed that iForex works across the Middle East and described them as “very interesting markets.”In Japan, too, the broker “does not advertise locally”, yet, according to Sedah, it has “a very good reputation and a very strong brand name there.” He added: “People recommend iForex on different forums, and that is how clients reach us, and we are able to service them and onboard them to our platform.”Japanese traders, however, are different when compared to other markets. Sadeh explained that, although iForex operates under the same brand there, its Japanese-language website is slightly different and clients there “are very keen on having all of the information, reading through everything.”However, unlike the UAE, iForex does not have any plans to secure a Japan licence in the near future.One high-growth region, however, missing from iForex’s key markets is Southeast Asia. Sadeh revealed that the broker is “constantly examining and will take the necessary steps within our strategic plans in the next year or two to enter new markets in that region,” adding that “it is definitely a very exciting and interesting region.” Several other brokers targeting Southeast Asian markets have experienced rapid growth recently. The most interesting factor is that although iForex uses reverse solicitation in all of its key markets, its marketing budget went up significantly.While the broker does advertise in those markets, Sadeh explained that it “advertises on global websites, financial websites that have different language support and are not within those countries.” It also has affiliate relationships, but not with local websites.“An Investment in Our Human Resources”Another rising expense for the broker was staff costs. About 50 per cent of the broker’s employees are currently based in Israel, while the rest are spread across other international offices, including those in Cyprus and Greece.The increasing cost, however, appears to be linked to the growing strength of the broker’s marketing division. It onboarded a new Chief Marketing Officer last year and, Sadeh revealed, “he recruited a lot of talented people to the marketing department.”“We thought it was a good time to refresh the marketing and bring in talented people,” the CEO added. “Usually, talented people are costly, so it is an investment in our human resources.” Another factor behind the rising staff cost is the strengthening shekel.iForex, interestingly, is increasing its staff while several other brokers are reducing theirs, citing the impact of AI on their operations. Finance Magnates earlier reported on staff reductions at eToro, FXCM/Tradu, IronFX and FP Markets.“We do not have any plans to cut or reduce our headcount at the moment,” Sadeh said, “but we are keeping an eye on AI and its capabilities, and hopefully that can also assist us in improving efficiency.”“We are in the early stages of examining a few very interesting projects,” the CEO continued. “We are working on AI, which we hope to integrate, a very exciting AI tool, into our platform in the next couple of weeks, maybe a few months. We are looking into diversifying the products that we offer, but it is still in the very early stages.” This article was written by Arnab Shome at www.financemagnates.com.