Growing Regulatory Pressure and FXCM's Facelift - Best of the Week
Sunday,26/02/2017|10:07GMTby
Dan Magen
Playtech and FXCM, alongside the Israeli and Dutch regulators, all feature in last week's top stories.
Finance Magnates
During the passing week, the top news in the global Online Trading industry included the rebranding of FXCM, regulators in Israel and the Netherlands taking action against binary options, Forex and CFDs, Playtech revealing its annual results and the FCA hinting that it may regulate binary options within a year.
Dutch regulator prepares binary options, FX and CFDs advertising ban
On Monday, we reported that the AFM (Financial Markets Authority) is preparing to limit the advertisement of certain financial products that the country’s government deem too risky. The regulator published a communique which effectively starts a period of consultation with the industry and clients of the financial services.
High-leverage products will be limited across the board with binary options, forex and CFDs with over 1:10 leverage being forbidden. The country’s regulator is also enforcing a ban on warrants, cocos (Contingent Convertible bonds), futures and some turbocharged products with leverage higher than 1:10, which have been on the offer by commercial banks.
[gptAdvertisement]
FXCM on the move
Tuesday - FXCM, once the biggest retail forex broker in the US but now expelled from that market, renamed itself and introduced changes to its senior management . The forex, CFDs and spread betting provider promoted the European subsidiary’s CEO, Brendan Callan, to Interim CEO. He has been with the firm since 2001 and has successfully been managing the company’s London-based branch since 2010. The embattled former CEO, Drew Niv, will retain an advisory role for the public company, which is to be renamed ‘Global Brokerage Inc’.
Playtech’s bullish 2016
On Thursday we learned that the gaming and online trading giant Playtech has benefited from CFH acquisition. Playtech’s 2016 annual results released last week showed substantial growth. The company’s second half was boosted by the acquisition of CFH for $120 million, which concluded on the 30th of November and added a total of €1.8 million to the company’s revenues.
For the full year 2016, revenues of the financials division increased by over 9 percent to €65.6 million. The company’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) totalled €15.4 million, which is lower than 2015’s €15.9 million by 3 percent. The company has attributed the underperformance in its bottom line to an overall decline in volatility.
Israel to ban marketing binary option abroad, limit FX market
On Thursday we exclusively reported on the dramatic new Israeli law that targets the marketing of binary options abroad and unregulated forex brokers operating in the country. According to the new law, the draft of which was obtained by Finance Magnates hours before its official release, the ISA intends to ban the marketing of binary options by Israeli companies abroad, almost one year after it banned the targeting of Israeli citizens last March.
In addition, foreign exchange brokers with an Israeli license will not be allowed to offer FX or onboard clients of foreign countries if they don’t hold a license in those countries. The penalties for violators of the law include jail time of up to two years.
According to new data released by the regulator, binary options made up 17 percent of the 106,800 enquiries to the FCA’s consumer contact centre between December 2015 through November 2016. The watchdog attributes the increasing popularity of binary options to the current low interest rate environment.
However, the FCA added that it has concerns that UK consumers are being increasingly targeted by fraudsters who offer opportunities to invest in binary options. Many such illegitimate binary options firms do not appear to be regulated by any agency, either in the UK or abroad.
During the passing week, the top news in the global Online Trading industry included the rebranding of FXCM, regulators in Israel and the Netherlands taking action against binary options, Forex and CFDs, Playtech revealing its annual results and the FCA hinting that it may regulate binary options within a year.
Dutch regulator prepares binary options, FX and CFDs advertising ban
On Monday, we reported that the AFM (Financial Markets Authority) is preparing to limit the advertisement of certain financial products that the country’s government deem too risky. The regulator published a communique which effectively starts a period of consultation with the industry and clients of the financial services.
High-leverage products will be limited across the board with binary options, forex and CFDs with over 1:10 leverage being forbidden. The country’s regulator is also enforcing a ban on warrants, cocos (Contingent Convertible bonds), futures and some turbocharged products with leverage higher than 1:10, which have been on the offer by commercial banks.
[gptAdvertisement]
FXCM on the move
Tuesday - FXCM, once the biggest retail forex broker in the US but now expelled from that market, renamed itself and introduced changes to its senior management . The forex, CFDs and spread betting provider promoted the European subsidiary’s CEO, Brendan Callan, to Interim CEO. He has been with the firm since 2001 and has successfully been managing the company’s London-based branch since 2010. The embattled former CEO, Drew Niv, will retain an advisory role for the public company, which is to be renamed ‘Global Brokerage Inc’.
Playtech’s bullish 2016
On Thursday we learned that the gaming and online trading giant Playtech has benefited from CFH acquisition. Playtech’s 2016 annual results released last week showed substantial growth. The company’s second half was boosted by the acquisition of CFH for $120 million, which concluded on the 30th of November and added a total of €1.8 million to the company’s revenues.
For the full year 2016, revenues of the financials division increased by over 9 percent to €65.6 million. The company’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) totalled €15.4 million, which is lower than 2015’s €15.9 million by 3 percent. The company has attributed the underperformance in its bottom line to an overall decline in volatility.
Israel to ban marketing binary option abroad, limit FX market
On Thursday we exclusively reported on the dramatic new Israeli law that targets the marketing of binary options abroad and unregulated forex brokers operating in the country. According to the new law, the draft of which was obtained by Finance Magnates hours before its official release, the ISA intends to ban the marketing of binary options by Israeli companies abroad, almost one year after it banned the targeting of Israeli citizens last March.
In addition, foreign exchange brokers with an Israeli license will not be allowed to offer FX or onboard clients of foreign countries if they don’t hold a license in those countries. The penalties for violators of the law include jail time of up to two years.
According to new data released by the regulator, binary options made up 17 percent of the 106,800 enquiries to the FCA’s consumer contact centre between December 2015 through November 2016. The watchdog attributes the increasing popularity of binary options to the current low interest rate environment.
However, the FCA added that it has concerns that UK consumers are being increasingly targeted by fraudsters who offer opportunities to invest in binary options. Many such illegitimate binary options firms do not appear to be regulated by any agency, either in the UK or abroad.
Leverate Gives Away MT4/MT5 Stack for Three Months as Competition Bites
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
