Another prop firm closes
Is competition in the prop trading space heating up? Prop trading firm Propel Capital shut down just 14 months
after its launch, saying competition in the industry had made operations
unsustainable. The firm’s website also went offline following the announcement.
Official Announcement: Please read pic.twitter.com/FFp4xixsKl
— PropelCapitalUK (@PropelCapitalUK) August 19, 2025
Founder and CEO Mitchell Ali said in a post on X that the
decision came after months of mounting pressure as rival prop firms cut prices
and loosened trading rules to lure clients.
Libertex Group unveils new offshore CFD broker
As the prop industry struggles, the CFD space is thriving. Libertex
Group launched a new offshore contract for differences (CFDs) broker brand,
LBX, which also signed a sponsorship deal with the KICK Sauber Formula 1 team.
The brand is operated by MAEX LIMITED, a company registered
and regulated in Mauritius. The LBX website went live in four
languages—English, Thai, Vietnamese, and Spanish—and outlined tailored benefits
for Latin America.
Plus500 establishes Colombia office
At the same time, Plus500 has announced the opening of its first representative office in Colombia. The move came after the company
secured authorization from the Colombian Financial Superintendence (SFC).
Additionally, the company is pursuing a local license in
Chile, where it had already set up a local entity last year.
MultiBank Group eyes Abu Dhabi
In the Middle East, MultiBank Group plans to open a new office in Abu Dhabi. The move positioned the company in the capital of the
United Arab Emirates.
According to this week’s announcement, the Abu Dhabi office
was set up to serve both retail and institutional customers.
XS.com gains new Mauritius license
Also expanding, XS.com strengthened its offshore presence by
obtaining a license from the regulator in Mauritius, which the contracts for
differences (CFDs) broker described as a “strategic move.”
In this week’s announcement, the broker emphasized that the license
from the Financial Services Commission would enable it to better serve its
global client base.
Ghana to regulate forex trading
In the African market, Ghana’s Securities and Exchange
Commission began working on a regulatory framework for the country’s forex trading.
According to local media reports, the SEC’s Acting Deputy
Director-General, Mensah Thompson, confirmed during an engagement with the
Ghana Journalists Association that the process of developing the framework was
already underway.
eToro offers 4.3% on idle cash
eToro announced this week that it will begin paying up to
4.3% annual interest on cash held in customer trading accounts. The initiative
is designed to ensure client funds generate returns even when they are not
actively deployed in trades.
With the move, the Israeli fintech joins other retail
brokers that have rolled out similar interest-paying features over the past two
years, including Interactive Brokers and XTB.
Week in numbers: Dukascopy Bank, Fortrade
Dukascopy Bank, a Geneva-based Swiss bank that provides
online trading services including forex and CFDs, has released its interim financial results for the six months ending June 30, 2025, reporting a
significant improvement in profitability compared with the same period in 2024.
Fortrade Limited, a UK-based financial services firm focused
on contracts for difference trading, reported stronger results for 2024 as
higher client activity boosted profitability. The London-headquartered broker posted an operating profit
of £1.34 million, a 37% increase from £921,000 in 2023.
Fortrade Limited:
Metric
2024
2023
Change
Revenue
£21.2M
£19.8M
+7%
Operating Profit
£1.34M
£921K
+45%
Gross Profit
£5.41M
£4.42M
+22%
Net Assets
£13.9M
£12.6M
+11%
Cash Holdings
£6.4M
£3.0M
+116%
Employees
43
24
+79%
Interest Income
£161K
£80K
+100%
Administrative Expenses
£4.07M
£3.50M
+16%
Prime brokerage, FX fix woes, and tech risks
Prime brokerage has experienced sharp fluctuations since the
global financial crisis, with European banks taking nearly a decade to regain
the confidence to commit substantial resources to the business despite
heightened regulatory oversight.
Bloomberg now projects that prime brokerage revenues will
hit record levels in 2025. Morgan Stanley highlighted “robust results in prime
brokerage” in its second-quarter equity update, while Citigroup’s CFO pointed
to record prime brokerage balances.
Payment delays hit 40% of UK crypto investors
In the crypto space, IG research shows that 40% of UK cryptocurrency investors
have experienced blocked or delayed payments when attempting to purchase
digital assets, pointing to regulatory gaps that enable banks to restrict
access.
The findings are drawn from a survey of 2,000 UK adults and
500 crypto investors conducted with research agency Norstat. In the United States, regulators have been directed to
examine alleged cases of “debanking,” including incidents involving crypto
companies.
Kraken acquires Capitalise.ai
Still with crypto, Kraken has acquired Capitalise.ai, an Israel-based developer of no-code trading automation tools, as it looks to make advanced strategy design and execution accessible to a broader range of traders.
The deal will see Capitalise.ai’s technology integrated into Kraken Pro, with a phased rollout planned later this year.
ChatGPT 5 missteps, 6 tries again
Lastly, OpenAI rolled out ChatGPT 5 in early August 2025,
presenting it as a major leap forward in artificial intelligence, with improved
reasoning and creativity that the company likened to having a PhD-level
collaborator.
Now, CEO Sam Altman is shifting attention to ChatGPT 6,
hinting at new “memory magic” features that could address some of the
shortcomings of its predecessor.
Another prop firm closes
Is competition in the prop trading space heating up? Prop trading firm Propel Capital shut down just 14 months
after its launch, saying competition in the industry had made operations
unsustainable. The firm’s website also went offline following the announcement.
Official Announcement: Please read pic.twitter.com/FFp4xixsKl
— PropelCapitalUK (@PropelCapitalUK) August 19, 2025
Founder and CEO Mitchell Ali said in a post on X that the
decision came after months of mounting pressure as rival prop firms cut prices
and loosened trading rules to lure clients.
Libertex Group unveils new offshore CFD broker
As the prop industry struggles, the CFD space is thriving. Libertex
Group launched a new offshore contract for differences (CFDs) broker brand,
LBX, which also signed a sponsorship deal with the KICK Sauber Formula 1 team.
The brand is operated by MAEX LIMITED, a company registered
and regulated in Mauritius. The LBX website went live in four
languages—English, Thai, Vietnamese, and Spanish—and outlined tailored benefits
for Latin America.
Plus500 establishes Colombia office
At the same time, Plus500 has announced the opening of its first representative office in Colombia. The move came after the company
secured authorization from the Colombian Financial Superintendence (SFC).
Additionally, the company is pursuing a local license in
Chile, where it had already set up a local entity last year.
MultiBank Group eyes Abu Dhabi
In the Middle East, MultiBank Group plans to open a new office in Abu Dhabi. The move positioned the company in the capital of the
United Arab Emirates.
According to this week’s announcement, the Abu Dhabi office
was set up to serve both retail and institutional customers.
XS.com gains new Mauritius license
Also expanding, XS.com strengthened its offshore presence by
obtaining a license from the regulator in Mauritius, which the contracts for
differences (CFDs) broker described as a “strategic move.”
In this week’s announcement, the broker emphasized that the license
from the Financial Services Commission would enable it to better serve its
global client base.
Ghana to regulate forex trading
In the African market, Ghana’s Securities and Exchange
Commission began working on a regulatory framework for the country’s forex trading.
According to local media reports, the SEC’s Acting Deputy
Director-General, Mensah Thompson, confirmed during an engagement with the
Ghana Journalists Association that the process of developing the framework was
already underway.
eToro offers 4.3% on idle cash
eToro announced this week that it will begin paying up to
4.3% annual interest on cash held in customer trading accounts. The initiative
is designed to ensure client funds generate returns even when they are not
actively deployed in trades.
With the move, the Israeli fintech joins other retail
brokers that have rolled out similar interest-paying features over the past two
years, including Interactive Brokers and XTB.
Week in numbers: Dukascopy Bank, Fortrade
Dukascopy Bank, a Geneva-based Swiss bank that provides
online trading services including forex and CFDs, has released its interim financial results for the six months ending June 30, 2025, reporting a
significant improvement in profitability compared with the same period in 2024.
Fortrade Limited, a UK-based financial services firm focused
on contracts for difference trading, reported stronger results for 2024 as
higher client activity boosted profitability. The London-headquartered broker posted an operating profit
of £1.34 million, a 37% increase from £921,000 in 2023.
Fortrade Limited:
Metric
2024
2023
Change
Revenue
£21.2M
£19.8M
+7%
Operating Profit
£1.34M
£921K
+45%
Gross Profit
£5.41M
£4.42M
+22%
Net Assets
£13.9M
£12.6M
+11%
Cash Holdings
£6.4M
£3.0M
+116%
Employees
43
24
+79%
Interest Income
£161K
£80K
+100%
Administrative Expenses
£4.07M
£3.50M
+16%
Prime brokerage, FX fix woes, and tech risks
Prime brokerage has experienced sharp fluctuations since the
global financial crisis, with European banks taking nearly a decade to regain
the confidence to commit substantial resources to the business despite
heightened regulatory oversight.
Bloomberg now projects that prime brokerage revenues will
hit record levels in 2025. Morgan Stanley highlighted “robust results in prime
brokerage” in its second-quarter equity update, while Citigroup’s CFO pointed
to record prime brokerage balances.
Payment delays hit 40% of UK crypto investors
In the crypto space, IG research shows that 40% of UK cryptocurrency investors
have experienced blocked or delayed payments when attempting to purchase
digital assets, pointing to regulatory gaps that enable banks to restrict
access.
The findings are drawn from a survey of 2,000 UK adults and
500 crypto investors conducted with research agency Norstat. In the United States, regulators have been directed to
examine alleged cases of “debanking,” including incidents involving crypto
companies.
Kraken acquires Capitalise.ai
Still with crypto, Kraken has acquired Capitalise.ai, an Israel-based developer of no-code trading automation tools, as it looks to make advanced strategy design and execution accessible to a broader range of traders.
The deal will see Capitalise.ai’s technology integrated into Kraken Pro, with a phased rollout planned later this year.
ChatGPT 5 missteps, 6 tries again
Lastly, OpenAI rolled out ChatGPT 5 in early August 2025,
presenting it as a major leap forward in artificial intelligence, with improved
reasoning and creativity that the company likened to having a PhD-level
collaborator.
Now, CEO Sam Altman is shifting attention to ChatGPT 6,
hinting at new “memory magic” features that could address some of the
shortcomings of its predecessor.
