The trading industry saw a major ownership change this week
as AvaTrade agreed to acquire the majority of FXCM Group’s business and brand
rights. The deal followed Trade Nation’s acquisition of FXCM’s UK client book,
marking another step in the restructuring of one of the industry’s established
retail forex brands.
London’s trading industry is coming home!
Elsewhere, brokers continued to invest in trading
infrastructure and overseas operations, while Nasdaq backed a European platform
pursuing round-the-clock trading.
The week also brought new funding for a
proprietary trading firm, fresh payout figures from established prop firms, and
renewed discussion about how extended trading hours could change the industry.
AvaTrade
has agreed to acquire the majority of FXCM Group’s business and brand
rights, bringing the two established CFD brokers under the same corporate
group. The financial terms were not disclosed. Finance Magnates had reported in
June that AvaTrade was seeking to acquire Stratos, the parent of FXCM and
Tradu, from investment bank Jefferies.
The transaction follows Jefferies’ decade-long control of
Stratos after providing a liquidity rescue following the 2015 Swiss franc
crisis. Rather than acquiring the entire business in one transaction, AvaTrade
is taking the majority of its remaining operations.
Matthew Wright, Chief Strategy Officer & UK Head, Trade Nation (source: LinkedIn)
The agreement came days
after Trade Nation acquired FXCM’s UK client book, leaving the brand’s
operations divided between separate buyers.
Trade Nation Acquires FXCM’s UK Client Book
Trade Nation acquired FXCM’s
UK client book for an undisclosed sum. Finance Magnates confirmed the deal
on Tuesday.
Matthew Wright, Trade Nation’s chief strategy officer and UK
CEO, said the longevity of FXCM’s client base was among the factors that
attracted the company to the portfolio.
Round-the-Clock Markets Raise Questions About Traders’
Working Hours
SEC Comissioner Hester Peirce, aka “Crypto Mom.”
Paul Golden examines the expansion of 24-hour
trading and its effect on market infrastructure. CME Group reported that
its first six weekends of cryptocurrency futures and options trading generated
$1 billion in volume, while average daily volume in crypto derivatives rose 44%
year on year in the first half to 280,000 contracts.
SEC Commissioner Hester
Peirce has noted that many market participants view extended trading as an
inevitable, if unwelcome, complication, citing thinner order books, wider
spreads and increased price volatility.
Golden writes that markets are moving
towards a structure where different types of liquidity dominate at different
times, highlighting the importance of knowing when and where liquidity is
available.
CME is winding down its plan for 24/7 markets over weekend staffing.
@lighter_xyz founder & CEO @vnovakovski says that back in traditional finance, his friends looked forward to weekends while he just wanted the markets open.
That impatience, he says, is part of why people love onchain finance: markets that never close have always been part of the ethos.
— The Rollup (@therollupco) October 7, 2026
Brokers Reassure Investors After IG Group’s Share Price
Slump
Breon Corcoran, CEO, IG Group
IG Group’s decision to cut its revenue outlook triggered a
sharp share-price decline on 2 October, with its stock falling as much as 27%
during the session. The
sell-off also affected competitors, sending CMC Markets and Plus500 shares
down by as much as 9% and 14%, respectively.
Rival brokers subsequently sought to distinguish their
trading performance from IG’s outlook, presenting their own businesses as
operating normally. Analysts viewed some of the market reaction as excessive,
suggesting that part of the valuation discount could reverse if IG delivered
improved results.
However, the episode also highlighted competitive pressures
facing online brokers, including rising advertising costs and competition from
Revolut, whose retail platform has attracted 68 million users.
Most Axi Clients Move to MetaTrader 5 as Broker Deploys
Ultency
Owais Anwer, Axi’s global head of technology operations
More
than 60% of Axi’s customers now use MetaTrader 5, according to a case study
published by MetaQuotes. The broker has migrated the majority of its clients to
MetaTrader 5 and has also started deploying Ultency, MetaQuotes’ order-matching
engine for MT5 brokers.
The rollout adds another component to Axi’s trading
infrastructure as it continues to develop its execution systems. Previously,
Axi had used a competing order-management system from Your Bourse, which it
adopted in 2025.
MetaQuotes’ case study also noted that earlier users of
Ultency were largely liquidity providers. Axi’s adoption therefore extends the
engine’s use within a retail brokerage operation, alongside the migration of
most of its customers to MT5.
Trading 212 Invests £44 Million in Overseas Subsidiaries
Trading
212 Group invested £44 million in its overseas subsidiaries in 2025, with
£21.1 million directed to its German operation, according to a Finance Magnates
Intelligence analysis of the group’s accounts. The German entity, acquired as
FXFlat Bank for approximately €4 million, recorded £2.7 million in revenue
during the year.
Despite the investment across international operations, the
UK remained the group’s main revenue source, accounting for 80% of total
revenue. The figures show how Trading 212 is allocating capital across its
overseas business while retaining a strong dependence on its domestic
operation.
Germany received nearly half of the subsidiary funding, making it
the largest destination for the group’s overseas investment during the year.
Nasdaq Backs One Trading’s Plans for 24/7 European
Markets
Nasdaq Ventures has made an undisclosed strategic investment
in One Trading, supporting discussions on round-the-clock
trading infrastructure and potential joint initiatives. The partnership
will explore ways to extend One Trading’s 24/7 capabilities into traditional
derivatives and broaden the products available through the platform.
One Trading has been developing infrastructure for
continuous trading, including leveraged perpetual products that resemble
contracts for difference. The Nasdaq partnership places the platform’s
technology in discussions about how conventional financial markets could
accommodate trading beyond standard exchange hours.
Both companies plan to
assess potential areas of cooperation rather than announcing a completed
integration. The investment comes as market operators examine how digital
infrastructure and tokenisation could support trading across longer periods.
Vest Labs Raises $13 Million in Pre-Seed Funding
New York-based prop trading firm Vest
Labs raised $13 million in a pre-seed funding round led by Portal Ventures,
according to a report cited by Finance Magnates. The round closed in July and
also attracted angel investments from senior executives at Citadel Securities,
BlackRock and KKR.
Vest Labs plans to use the funding to develop its own mobile
application, expand its team and add more tradable assets. The size of the
raise stands out in a prop trading sector where many firms rely on their own
resources rather than venture capital.
For Portal Ventures, the investment also
represents its first backing of a prop trading firm. The funding gives Vest
Labs capital to develop its product offering and expand its operations.
FTMO Reports More Than $200 Million in Annual Trader
Rewards
FTMO distributed more than $14.4
million in rewards to approximately 7,100 traders in September, taking its
reported cumulative payouts above $650 million. The Prague-based proprietary
trading firm said it had paid more than $200 million over the preceding 12
months, equivalent to an average of around $16 million per month.
7,100+ FTMO Rewards processed in September. ✅
— FTMO.com (@FTMO_com) October 8, 2026
September’s rewards were approximately 5% lower than
August’s level, while the number of payouts implied an average payment of
roughly $2,030. FTMO also reported more than 4.5 million registered traders
worldwide.
The figures provide an update on the scale of its reward programme
as the firm continues to report monthly distributions and cumulative payments to
traders using its funded trading model.
Hola Prime Says Cumulative Trader Payouts Exceed $10
Million
Somesh Kapuria, the CEO of Hola Prime
Prop trading firm Hola Prime reported that it had
paid more than $10
million to funded traders, more than tripling its cumulative total since
April. The company put the average payout at approximately $1,800, down from
around $4,500 when it reported distributing about $3.2 million earlier in the
year.
The figures were disclosed by the firm and reflect its own
tally of payments. Separately, a Deloitte review earlier in 2026 examined how
quickly payouts were processed through mid-March; it did not verify the
company’s subsequent cumulative total.
The latest announcement provides an
update on Hola Prime’s reported distributions, while the lower average payout
shows how the composition of payments has changed as the total has grown.
iFX EXPO Asia 2026 Opens in Hong Kong as Brokers Explore
Sports Marketing
iFX EXPO Asia 2026 opened its main exhibition and conference
programme at the Hong Kong Convention and Exhibition Centre on Thursday,
bringing together companies from online trading, fintech and digital assets.
Organisers expected more than 5,000 attendees from over 130 countries,
alongside 150 exhibitors and more than 120 speakers.
iFX EXPO Asia 2026
The
three-day programme covers artificial intelligence, stablecoins, tokenisation,
prediction markets and trading technology. Discussions also include how
brokers build their brands through sports, reflecting the marketing strategies
used to reach customers beyond traditional financial advertising.
The event
began with a welcome party on Wednesday before the main conference opened. Its
programme brings brokers, liquidity providers, fintech businesses and crypto
companies together for industry discussions and networking.
The trading industry saw a major ownership change this week
as AvaTrade agreed to acquire the majority of FXCM Group’s business and brand
rights. The deal followed Trade Nation’s acquisition of FXCM’s UK client book,
marking another step in the restructuring of one of the industry’s established
retail forex brands.
London’s trading industry is coming home!
Elsewhere, brokers continued to invest in trading
infrastructure and overseas operations, while Nasdaq backed a European platform
pursuing round-the-clock trading.
The week also brought new funding for a
proprietary trading firm, fresh payout figures from established prop firms, and
renewed discussion about how extended trading hours could change the industry.
AvaTrade
has agreed to acquire the majority of FXCM Group’s business and brand
rights, bringing the two established CFD brokers under the same corporate
group. The financial terms were not disclosed. Finance Magnates had reported in
June that AvaTrade was seeking to acquire Stratos, the parent of FXCM and
Tradu, from investment bank Jefferies.
The transaction follows Jefferies’ decade-long control of
Stratos after providing a liquidity rescue following the 2015 Swiss franc
crisis. Rather than acquiring the entire business in one transaction, AvaTrade
is taking the majority of its remaining operations.
Matthew Wright, Chief Strategy Officer & UK Head, Trade Nation (source: LinkedIn)
The agreement came days
after Trade Nation acquired FXCM’s UK client book, leaving the brand’s
operations divided between separate buyers.
Trade Nation Acquires FXCM’s UK Client Book
Trade Nation acquired FXCM’s
UK client book for an undisclosed sum. Finance Magnates confirmed the deal
on Tuesday.
Matthew Wright, Trade Nation’s chief strategy officer and UK
CEO, said the longevity of FXCM’s client base was among the factors that
attracted the company to the portfolio.
Round-the-Clock Markets Raise Questions About Traders’
Working Hours
SEC Comissioner Hester Peirce, aka “Crypto Mom.”
Paul Golden examines the expansion of 24-hour
trading and its effect on market infrastructure. CME Group reported that
its first six weekends of cryptocurrency futures and options trading generated
$1 billion in volume, while average daily volume in crypto derivatives rose 44%
year on year in the first half to 280,000 contracts.
SEC Commissioner Hester
Peirce has noted that many market participants view extended trading as an
inevitable, if unwelcome, complication, citing thinner order books, wider
spreads and increased price volatility.
Golden writes that markets are moving
towards a structure where different types of liquidity dominate at different
times, highlighting the importance of knowing when and where liquidity is
available.
CME is winding down its plan for 24/7 markets over weekend staffing.
@lighter_xyz founder & CEO @vnovakovski says that back in traditional finance, his friends looked forward to weekends while he just wanted the markets open.
That impatience, he says, is part of why people love onchain finance: markets that never close have always been part of the ethos.
— The Rollup (@therollupco) October 7, 2026
Brokers Reassure Investors After IG Group’s Share Price
Slump
Breon Corcoran, CEO, IG Group
IG Group’s decision to cut its revenue outlook triggered a
sharp share-price decline on 2 October, with its stock falling as much as 27%
during the session. The
sell-off also affected competitors, sending CMC Markets and Plus500 shares
down by as much as 9% and 14%, respectively.
Rival brokers subsequently sought to distinguish their
trading performance from IG’s outlook, presenting their own businesses as
operating normally. Analysts viewed some of the market reaction as excessive,
suggesting that part of the valuation discount could reverse if IG delivered
improved results.
However, the episode also highlighted competitive pressures
facing online brokers, including rising advertising costs and competition from
Revolut, whose retail platform has attracted 68 million users.
Most Axi Clients Move to MetaTrader 5 as Broker Deploys
Ultency
Owais Anwer, Axi’s global head of technology operations
More
than 60% of Axi’s customers now use MetaTrader 5, according to a case study
published by MetaQuotes. The broker has migrated the majority of its clients to
MetaTrader 5 and has also started deploying Ultency, MetaQuotes’ order-matching
engine for MT5 brokers.
The rollout adds another component to Axi’s trading
infrastructure as it continues to develop its execution systems. Previously,
Axi had used a competing order-management system from Your Bourse, which it
adopted in 2025.
MetaQuotes’ case study also noted that earlier users of
Ultency were largely liquidity providers. Axi’s adoption therefore extends the
engine’s use within a retail brokerage operation, alongside the migration of
most of its customers to MT5.
Trading 212 Invests £44 Million in Overseas Subsidiaries
Trading
212 Group invested £44 million in its overseas subsidiaries in 2025, with
£21.1 million directed to its German operation, according to a Finance Magnates
Intelligence analysis of the group’s accounts. The German entity, acquired as
FXFlat Bank for approximately €4 million, recorded £2.7 million in revenue
during the year.
Despite the investment across international operations, the
UK remained the group’s main revenue source, accounting for 80% of total
revenue. The figures show how Trading 212 is allocating capital across its
overseas business while retaining a strong dependence on its domestic
operation.
Germany received nearly half of the subsidiary funding, making it
the largest destination for the group’s overseas investment during the year.
Nasdaq Backs One Trading’s Plans for 24/7 European
Markets
Nasdaq Ventures has made an undisclosed strategic investment
in One Trading, supporting discussions on round-the-clock
trading infrastructure and potential joint initiatives. The partnership
will explore ways to extend One Trading’s 24/7 capabilities into traditional
derivatives and broaden the products available through the platform.
One Trading has been developing infrastructure for
continuous trading, including leveraged perpetual products that resemble
contracts for difference. The Nasdaq partnership places the platform’s
technology in discussions about how conventional financial markets could
accommodate trading beyond standard exchange hours.
Both companies plan to
assess potential areas of cooperation rather than announcing a completed
integration. The investment comes as market operators examine how digital
infrastructure and tokenisation could support trading across longer periods.
Vest Labs Raises $13 Million in Pre-Seed Funding
New York-based prop trading firm Vest
Labs raised $13 million in a pre-seed funding round led by Portal Ventures,
according to a report cited by Finance Magnates. The round closed in July and
also attracted angel investments from senior executives at Citadel Securities,
BlackRock and KKR.
Vest Labs plans to use the funding to develop its own mobile
application, expand its team and add more tradable assets. The size of the
raise stands out in a prop trading sector where many firms rely on their own
resources rather than venture capital.
For Portal Ventures, the investment also
represents its first backing of a prop trading firm. The funding gives Vest
Labs capital to develop its product offering and expand its operations.
FTMO Reports More Than $200 Million in Annual Trader
Rewards
FTMO distributed more than $14.4
million in rewards to approximately 7,100 traders in September, taking its
reported cumulative payouts above $650 million. The Prague-based proprietary
trading firm said it had paid more than $200 million over the preceding 12
months, equivalent to an average of around $16 million per month.
7,100+ FTMO Rewards processed in September. ✅
— FTMO.com (@FTMO_com) October 8, 2026
September’s rewards were approximately 5% lower than
August’s level, while the number of payouts implied an average payment of
roughly $2,030. FTMO also reported more than 4.5 million registered traders
worldwide.
The figures provide an update on the scale of its reward programme
as the firm continues to report monthly distributions and cumulative payments to
traders using its funded trading model.
Hola Prime Says Cumulative Trader Payouts Exceed $10
Million
Somesh Kapuria, the CEO of Hola Prime
Prop trading firm Hola Prime reported that it had
paid more than $10
million to funded traders, more than tripling its cumulative total since
April. The company put the average payout at approximately $1,800, down from
around $4,500 when it reported distributing about $3.2 million earlier in the
year.
The figures were disclosed by the firm and reflect its own
tally of payments. Separately, a Deloitte review earlier in 2026 examined how
quickly payouts were processed through mid-March; it did not verify the
company’s subsequent cumulative total.
The latest announcement provides an
update on Hola Prime’s reported distributions, while the lower average payout
shows how the composition of payments has changed as the total has grown.
iFX EXPO Asia 2026 Opens in Hong Kong as Brokers Explore
Sports Marketing
iFX EXPO Asia 2026 opened its main exhibition and conference
programme at the Hong Kong Convention and Exhibition Centre on Thursday,
bringing together companies from online trading, fintech and digital assets.
Organisers expected more than 5,000 attendees from over 130 countries,
alongside 150 exhibitors and more than 120 speakers.
iFX EXPO Asia 2026
The
three-day programme covers artificial intelligence, stablecoins, tokenisation,
prediction markets and trading technology. Discussions also include how
brokers build their brands through sports, reflecting the marketing strategies
used to reach customers beyond traditional financial advertising.
The event
began with a welcome party on Wednesday before the main conference opened. Its
programme brings brokers, liquidity providers, fintech businesses and crypto
companies together for industry discussions and networking.
