Week at a Glance: Exness Halts Onboarding in India, Event Contracts’ Boom Draws Scrutiny

Exness halts new registrations in India

We begin this week’s recap with a significant development from Exness. The retail broker stopped accepting new client registrations in India. The change, implemented quietly and without an official statement, restricts account signups for users accessing the platform from Indian IP addresses.

While Exness has halted new client registrations in India, it continues to serve existing account holders. The brokerage firm primarily operates through affiliates and introducing brokers in the region. Some industry watchers now speculate it could resume onboarding under a different brand name.

CFD broker ALB to shut European operations

Elsewhere, in our exclusive story, ALB is shutting down its European operations and has initiated the process to surrender its regulatory license in Malta.

The CFD broker has formally requested license withdrawal from the Malta Financial Services Authority (MFSA) and confirmed it will cease all activities under its Maltese authorization.

The broker has begun notifying clients of its decision to wind down operations, urging them to close their positions within a month. Any remaining open positions will be automatically closed at the end of the second week following that deadline.

CFD brokers are chasing institutional clients

While some CFD brokers face challenges in some markets, the industry is on a new growth path: launching institutional offerings.

Retail brokers like Axi, CFI, and Taurex are expanding into the institutional space, focusing on liquidity and prime services. Prime-of-prime liquidity is a common entry point.

Industry experts believe that expanding into the institutional space is a natural progression for some retail brokers. As these firms grow and gain experience, they seek more stable revenue streams. Institutional clients bring larger capital bases and consistent trading volumes.

Meanwhile, CMOs at online trading firms are exiting their roles at an accelerating pace. New data from FYI reveals that median tenure has fallen to just 17.5 months, the lowest level in over a decade.

Prediction markets, data rules, and shifting UK retail rules

Meanwhile, forecast contracts have gained traction among savvy traders, drawing interest from both newcomers and established platforms. As previously reported, Webull partnered with Kalshi in February and recently expanded into crypto-based prediction markets.

Robinhood followed with the launch of its prediction hub in March after an earlier misstep. Meanwhile, Interactive Brokers has extended trading hours for these contracts, and even Charles Schwab has signaled interest, though it has no immediate plans to enter the space.

eToro enters Singapore

eToro launched its services in Singapore after securing a Capital Markets Services licence from the Monetary Authority of Singapore. The move marks a key milestone in the broker’s Southeast Asian expansion, which had been widely expected.

Users in the region can now access eToro’s platform locally and trade a range of assets, including stocks from over 20 global exchanges, exchange-traded funds, and derivatives.

Saxo Bank fined €1M in France

In the regulatory front, France’s financial watchdog imposed a €1 million fine on Saxo Bank A/S for multiple alleged breaches of conduct rules following its merger with BinckBank NV.

The Autorité des Marchés Financiers (AMF) cited serious shortcomings during a 2020 system migration that impacted over 55,000 clients. Earlier this year, the Dutch Authority for the Financial Markets also fined Saxo Bank €1.6 million.

How safe are deposits held with trading firms?

The recent security breach at XTB, which allegedly led to a Polish client losing around 150,000 zlotys ($38,000), has sparked a debate over whether today's optional security features are adequate for CFD brokers and retail trading platforms.

Hackers reportedly executed thousands of rapid trades to deplete the client's account, raising concerns about the resilience of current cybersecurity protocols. In the wake of the incident, experts are urging a complete rethink of how financial firms safeguard client assets in an increasingly digital landscape.

GENIUS Act signed into law

Good news for crypto! Donald Trump signed the GENIUS Act — the Guiding and Establishing National Innovation for U.S. Stablecoins Act—into law on Friday after it passed the House of Representatives. This marks a major milestone for crypto regulation in the United States.

With stablecoin regulations taking shape, big banks are making increasingly visible moves toward a blockchain-powered financial system. Citi CEO Jane Fraser recently disclosed that the bank is “looking at the issuance of a Citi stablecoin.” She also noted that the firm is exploring tokenized deposits and crypto custody services as part of its broader digital asset strategy.

From Prompt to Profit?

To something interesting for traders, a Reddit post titled “Watching ChatGPT make me money while I chill and game” went viral this week, fueling yet another wave of AI hype.

According to the post on r/ChatGPT, the user claims to have doubled their investment portfolio in just a few days by following trading ideas generated by OpenAI’s chatbot. None of this is confirmed. There’s no evidence these trades occurred.

Although ChatGPT can summarize market headlines, explain technical indicators like RSI or MACD, and even help code simple backtests, it is not a financial advisor.

ForexLive rebrands to investingLive

Lastly, investingLive will launch on July 21, 2025, as the new identity of the well-known ForexLive platform, expanding its focus beyond forex to include stocks, commodities, crypto, futures, and decision-support tools.

As part of its transition to investingLive, the platform is rolling out new features aimed at helping users make more informed and confident trading and investing decisions.