Missiles hit Dubai, brokers hold firm

Dubai’s regional security deteriorated as Iran has fired waves of ballistic missiles and drones toward the United Arab Emirates. The UAE Ministry of Defence reporting that its air defence systems have intercepted the majority of these projectiles.

The region has rapidly evolved into a major base for CFD brokers, trading firms, and crypto exchanges, drawn by Dubai International Financial Centre and Virtual Assets Regulatory Authority licences, zero corporate tax, and fast company setup processes.

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Major players including IG Group, CMC Markets, Pepperstone, Saxo Bank, Plus500, Capital.com, and CFI have clustered their offices in and around the city’s downtown financial district.

Iran crypto volumes crash 80%

Amid the conflict, crypto was not spared either. Iranian platforms saw transaction volumes drop sharply as authorities imposed strict internet restrictions and exchanges focused on protecting their operations.

Internet connectivity Connectivity Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Read this Term reportedly fell by about 99%, making it extremely difficult for users to access trading platforms. The situation also exposed how reliant the local ecosystem is on a few centralized physical infrastructure providers, which became single points of failure when outages hit.

Amid the escalating conflict in Iran, many citizens are turning to Bitcoin as a financial lifeline.

Reports and on-chain data shows increased buying activity followed by large withdrawals from local exchanges into self-custody wallets.

BITCOIN IS FREEDOM FOR 🇮🇷 https://t.co/9JKx1aMv6o pic.twitter.com/BysoXM1Bgt

— Satoxis (@satoxis) March 3, 2026

TRM Labs found that Iran’s largest exchange, Nobitex, processed about $3 million more in combined inflows and outflows around the time of the strikes, but this activity stayed within its normal historical range.

FundedNext pays $15M to 8,000+ traders

Away from missiles, prop trading firm FundedNext reported that it paid out $15.19 million to 8,340 traders in February. The company introduced this disclosure as part of a new monthly payout report series, which it plans to publish regularly to share performance and transparency updates.

According to FundedNext, the February payouts covered 13,712 transactions across 10,346 funded accounts, noting that some traders manage multiple accounts. Since its launch, the firm claims to have distributed more than $271.4 million through over 205,000 transactions, although these figures have not been independently verified.

Oil trader numbers soar on Capital.com

While tensions weigh on global sentiment, oil and gold are attracting heightened investor attention. Data from Capital.com showed oil trading volumes surged 649% on Monday, while the number of active oil traders jumped 276% in a single day.

Overall, the platform recorded a 49% increase in active traders from the previous Friday, with total volumes up 73% and executed trades climbing 82%. Oil became the second most-traded instrument on the platform, surpassing several major currency and index markets.

Gold also attracted strong inflows, with trading volumes rising 103% overnight as investors sought safe-haven assets.

Crypto trading gains ground while CFTC oversight

In the crypto space, CFTC is preparing to approve crypto perpetual futures trading, marking another step in the US push to expand digital asset markets. The move comes even as the agency cuts back on its enforcement staff, raising questions about how effectively regulators can oversee the growing crypto sector.

Despite this enthusiasm, the CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term’s shrinking enforcement capacity has sparked concern among investors and industry watchers. While the regulator works closely with the Securities and Exchange Commission on broader digital asset policies, the timing of staff reductions suggests a possible imbalance between market expansion and oversight.

Kraken joins Fed payment network

As the regulations soften, Kraken became the first digital asset company to gain direct access to the core of the U.S. financial system, a Federal Reserve master account. This approval could transform how crypto platforms handle U.S. dollar transactions, reducing reliance on partner banks and making payments faster and more resilient to disruptions in banking relationships.

A Fed master account serves as the main entry point to the central bank’s payment infrastructure. It allows eligible institutions to hold reserves and send or receive funds directly through systems like Fedwire, without using intermediaries. For crypto companies, that means more direct and secure movement of money within the financial system.

J. Safra Sarasin completes Saxo Bank takeover

Also, this week, J. Safra Sarasin Group completed its acquisition of a 71% stake in Saxo Bank, concluding a months-long regulatory approval process. The deal, valued at about €1.1 billion when announced in March 2025, gives the Swiss family-owned banking group control of the Danish online broker, one of Europe’s prominent retail trading platforms.

The purchase transfers shares previously held by Geely Financials Denmark, Mandatum Group, and smaller investors. Saxo Bank founder Kim Fournais, who launched the firm in 1992 and built it into a fintech bank serving over 1.7 million clients, keeps his 28% stake. He has stepped down as CEO and will now serve as Chairman of the Board.

OANDA shifts prop traders to FTMO

In the prop space, OANDA has announced that its proprietary trading arm, OANDA Prop Trader, will transition to the FTMO Group. The change follows FTMO’s acquisition of OANDA last year, marking a shift in operations as the two firms consolidate their strengths in the trading industry.

Founded in 1996, OANDA has built a strong global presence in retail and corporate trading, operating across major financial hubs such as New York, London, and Tokyo. With the transfer, FTMO will take over OANDA Prop Trader’s clients and provide them with a more specialized trading environment.

Pepperstone’s owners ordered to pay AU$97M

Pepperstone’s majority shareholder, FX Group Holdings, which owns 60% of the CFDs broker and counts company Chair Fiona Lock among its members, has been ordered to pay AU$96.9 million plus interest to Champ Private Equity. The payment follows a lengthy legal dispute over FX Group’s 2018 acquisition of Champ’s majority stake in Pepperstone.

FX Group includes Pepperstone CEO Tamas Szabo and former director Andrew Defina as shareholders. According to court documents, the group had already paid Champ over AU$77 million in December 2025. Pepperstone clarified that the dispute is strictly between its current and former owners and has no impact on the broker’s operations.

Volatility revives Singapore CFD trading

Meanwhile, favorable market conditions have prompted Singapore’s CFD traders to return after several years of subdued activity. The growing variety of products they are trading suggests this comeback may be sustainable, signaling renewed interest and participation across the market.

According to Investment Trends’ 2025 Singapore Leverage Trading Report, the country’s leveraged trading market recorded its first rise in active participants since 2021. Associate Research Director Lorenzo Vignati noted that despite recent macroeconomic challenges, the market’s core base has remained strong, supporting trader confidence, strategy adaptation, and overall market liquidity.

CySEC targets CFD brokers in EU

Cyprus’s financial regulator, the Cyprus Securities and Exchange Commission (CySEC), has announced plans to inspect CFD brokers and other investment firms as part of a wider EU initiative on conflicts of interest. In a new circular issued this week, CySEC informed Cyprus Investment Firms that it will conduct both on-site visits and desk-based reviews during the year.

The coordinated review aims to see whether brokers are prioritizing their own profits over clients’ interests. CySEC and ESMA will focus on three main areas: how employee pay, bonuses, and incentives influence product recommendations; whether digital trading platforms are designed to nudge clients toward certain products; and how firms balance their revenue objectives with the duty to act in the best interests of retail investors.

Brokers still catching up with DORA

A year after the European Union’s Digital Operational Resilience Act (DORA) took effect, many brokers are still struggling to meet its requirements. The regulation, which aims to strengthen financial firms’ ability to handle cyber and IT disruptions, has been slowed by complex compliance demands, high costs, and a cautious “wait-and-see” attitude.

Smaller CFD brokers, in particular, find it hard to compete for skilled cybersecurity professionals as larger firms offer better pay to attract top talent. According to Mate Ivanszky, CEO of cybersecurity provider Matworks, only a handful of EU institutions have reached full DORA maturity, with many firms already behind schedule. Some startups have only recently begun addressing the new rules.

Kenya to issue permits to Robo-advisors

Lastly, Kenya’s Capital Markets Authority plans to bring robo-advisors and digital investment platforms under its regulatory framework as app-based trading continues to attract a growing number of young, tech-savvy investors. The proposed licensing requirements set for implementation in 2025 will outline how these digital investment firms operate and engage with retail clients.

The move does not alter licensing terms for existing FX and CFD brokers but expands CMA’s oversight to include apps and robo-advisory services that act as intermediaries. This step will require online platforms offering automated advice or portfolio management tools to secure formal authorization.