MFF founder recounts struggles after CFTC freeze In an exclusive interview with Finance Magnates following the abrupt shutdown of My Forex Funds (MFF) in 2023, CEO and founder Murtuza Kazmi detailed the financial and emotional toll of the CFTC’s enforcement action. The regulator’s sudden asset freeze wiped out one of the largest players in the…
eToro to slash 7% of workforce The week saw several notable stories across the global trading and fintech landscape: eToro is cutting roughly 7 percent of its global workforce. CEO Yoni Assia said the company is “ensuring we are correctly sized to meet our business needs and support our long-term growth strategy” as eToro continues…
Google allows ads for prediction markets The calendar has flipped to 2026 and markets have wasted no time in setting a new tone. Google will allow prediction market ads in the U.S. only for firms under federal oversight, drawing a clear line between CFTC-regulated event contracts and binary options, which will remain banned. Under the…
As the year winds down, this week still delivered plenty for brokers. FXCM and Tradu’s parent company is preparing to cut more than 100 jobs. Sources familiar with the matter said the layoffs will affect multiple departments and locations, marking one of the largest workforce reductions for the group in recent years. However, CEO Brendan…
FTMO completes acquisition of Oanda December is here, yet the pipeline of broker and fintech news remains full. FTMO, a global player in modern prop trading, completed its acquisition of OANDA Global Corporation, a major online trading group. The deal followed a purchase agreement signed earlier this year with former owner CVC Asia Fund IV…
IG eyes Irish market How much room is there for a new player in Ireland’s brokerage market? Well, IG Group is betting plenty, taking aim at long-established giants it says have left customers underserved and overcharged. Ireland is often cited as a modern economy, supported by a strong financial services sector that has benefited from…
Cloudflare outage may have cost average CFD broker $1.6B In today’s fast-paced technological world, even a few hours of downtime can quickly translate into millions in lost revenue. This week’s Cloudflare three-hour outage may have impacted approximately $1.58 billion in trading volume among brokers, roughly equivalent to 1% of their typical monthly revenue. Join IG,…
Pepperstone decries daily battles with scam sites What do you do when every morning brings a new clone of your company—same name, same look, same traps? For Pepperstone, this has become a daily reality. This week, the brokerage’s Group CEO, Tamas Szabo, said the company is forced to take down scam websites and fake social…
FundedNext brings CFD prop trading back to the US The prop trading industry has been at the center of several major headlines this week. FundedNext resumed its contracts for differences (CFDs) prop trading services in the United States after halting operations in February last year, when MetaQuotes restricted the use of its trading platforms by…
Doo Group appears to be leaving Limassol Our weekly bulletin starts with an interesting development involving the Cyprus brokerage space. Doo Group’s retail and institutional brokerage arm, Doo Prime, appears to be vacating one of its two offices in Limassol following a series of staff layoffs. An employee told FinanceMagnates.com that staff had been informed…