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 2024, when MetaQuotes restricted the use of its trading platforms by local prop firms.

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For its US relaunch, FundedNext has switched from MetaTrader to the Match Trader platform, marking a shift in its technology strategy as it re-enters one of the world’s largest prop trading markets.

PipFarm exit underscores Prop Firm Match tensions

Meanwhile, the delisting of PipFarm from Prop Firm Match brought to light growing friction between the rating platform and some proprietary trading firms.

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Prop Firm Match said the removal followed “an extensive review process,” while PipFarm’s Founder and CEO, James Glyde, argued that the site’s final data requests “went far beyond what is reasonable.”

Prop Firm Match is a widely followed website that lists and ranks proprietary trading firms, helping traders identify credible options in an unregulated market.

My Forex Funds signals return with new roadmap

Still with props, My Forex Funds this week released a new roadmap outlining its plan to regain full control of its assets, including its data and data sources. The proprietary trading firm stated that once control is restored, it will conduct a comprehensive analysis of the recovered data before determining its next steps.

In the detailed roadmap shared on Thursday, MFF also listed several milestones, including its legal victory in the United States, progress in unwinding the Canadian receivership, and the anticipated return of its Canadian assets.

Ex-The5ers Risk Chief launches prop firm advisory

Before closing the prop trading chapter, Ruben Abitbol, former Head of Trading and Risk at The5ers and a former executive at PropFirmMatch, launched RUBIK Consulting, a firm operating under a Risk Management as a Service model.

The company aims to help proprietary trading firms strengthen their operations and remain in business. Abitbol told Finance Magnates that most of prop firm failures are caused by poor cash-flow management and a lack of understanding of risk.

RUBIK Consulting just went live
RUBIK Consulting just went live

Robinhood has new celebrity and awards prediction markets

And to something attracting just as much: Robinhood Markets introduced a wide range of entertainment-focused prediction contracts, enabling users to speculate on Grammy nominations, Oscar winners, and celebrity trends.

According to details shared with Finance Magnates, the platform now offers dozens of contracts covering categories such as award outcomes, album releases, Google search trends, and Spotify streaming rankings.

The fintech giant said its prediction markets are expanding rapidly, with 2.3 billion event contracts traded in the third quarter and an additional 2.5 billion in October alone.

The company estimates the segment, alongside Bitstamp operations, is generating about $100 million or more in annualized revenue. Robinhood initially faced regulatory challenges when introducing event contracts but now counts them among its fastest-growing business lines.

Retail traders push Kalshi’s prediction volumes to $4.4B

The prediction market shows no sign of slowing down. It recently hit record highs in October, with Polymarket and Kalshi together processing more than $7.4 billion in trades, driven mainly by sports contracts. The surge was fueled by US tax changes and growing speculation around prediction tokens, though not without challenges, Romanian authorities blocked Polymarket over unlicensed gambling concerns.

Robinhood also reported a sharp increase in prediction-related activity, with users trading 2.3 billion event contracts between July and September and 2.5 billion in October alone. Alongside Bitstamp, the platform now generates roughly $100 million in annualized revenue, contributing to total third-quarter revenue of $1.27 billion — up 129% year-on-year.

The surge was fueled by US tax changes and growing speculation around prediction tokens, though not without challenges, Romanian authorities blocked Polymarket over unlicensed gambling concerns.

Buy British – If You Can Find One in the FTSE 100

In the UK, the British government is considering new measures to make individual savings accounts (ISAs) more “British,” including a proposal to require a minimum level of UK shareholdings.

The plan aims to encourage cautious retail investors to shift from cash ISAs, which offer fixed interest, to stocks and shares ISAs to boost activity in the country’s capital markets. Paul Golden argues that the latest proposal misses the point, noting it closely resembles a plan introduced by the previous administration and later abandoned.

FXPrimus, ASX, and Swissquote: Executive Moves of the Week

This week, Michael Margaritis stepped down from his position as Chief Marketing Officer at FXPrimus, a Cyprus-based retail FX and CFD broker. Margaritis had served in the role for about a year, overseeing the company’s marketing strategy and brand communications.

At the same time, the Australian Securities Exchange (ASX) appointed former Reserve Bank of Australia Governor Philip Lowe as Chairman of its new Advisory Group on Corporate Governance. The panel will advise on governance standards for ASX-listed companies, succeeding the disbanded ASX Corporate Governance Council.

And in another executive move, Swissquote Group appointed Jan De Schepper,its longtime sales and marketing executive, as CEO of Yuh, the company’s consumer-focused digital banking app. He replaces Markus Schwab, who left the role in early August to pursue other opportunities.

IG launches Singapore shares and ETF brand

In the CFD space, IG Group’s Singapore unit launched a new brand, IG Markets, offering investors an annual interest rate of 3% on shares and exchange-traded funds (ETFs) held on its platform. The interest applies to holdings of up to S$50,000, with no minimum balance or lock-in period. To qualify, investors must make at least one trade each calendar month.

The initiative marks IG’s effort to move beyond its core contracts for difference (CFD) business, following comments from Singapore CEO Gavin Chia about expanding the firm’s investment products. While many platforms pay interest on uninvested cash, IG’s offer of interest on shareholdings stands out as an uncommon approach in the market.

XTB stops new accounts in Brazil

At the same time, XTB suspended the opening of new accounts for residents in Brazil after ending its partnership with Finvest DTVM Ltda. The brokerage, which received regulatory approval less than a year ago, is reassessing its presence in the market. XTB cited protectionist measures that have made operations more difficult for foreign companies.

The company said it will deactivate the partnership website as it reviews its business model in Brazil. Existing clients will not be affected, and their funds and services remain secure. XTB has not indicated when new account openings might resume.

XTB reported that over 100,000 people joined its investment app in October, marking the largest monthly increase in new users in the company’s history.

Additionally, XTB experienced a major platform outage on Wednesday that prevented clients from closing positions for several hours, leaving them exposed to market movements. Despite the disruption, the company’s shares fell only 0.7% at Thursday’s open, trading around 70.92 zlotys.

Robots Are Trading — Who’s Watching?

Away from the industry, artificial intelligence is reshaping trading by automating execution, analyzing vast data sets, and enhancing strategy development. As machines take on greater autonomy, brokers and traders are being pushed to balance technological efficiency with ethical responsibility, ensuring human oversight remains central to decision-making.

The financial sector has long embraced innovation, but AI is driving it into new and complex territory. For brokers, platforms, and traders, the key question is no longer whether AI will change how markets operate, but how far its influence should extend—and where human control should draw the line.

At this year’s Finance Magnates London Summit (FMLS:25), the panel “Secret Agent: Deploying AI for Traders at Scale” will feature industry leaders discussing how artificial intelligence is reshaping the future of trading and financial services.

Source: Finance Magnates