Cyprus hit by wildfires
In our weekly review, we start with the effects of wildfires in Cyprus. A devastating wildfire in southern Cyprus killed two people, injured at least ten, destroyed numerous homes, and forced the evacuation of over a dozen villages near Limassol.
šØ Massive Wildfire in Limassol Region, Cyprus š„
ā Odin Root šøšøšŗšø (@RootsOdin) July 23, 2025
Red alert issued as extreme heat and dry winds fuel the blaze. Villages evacuated. Smoke covers the area.
[ ForestFire LimassolValley Cyprus Emergency StaySafe WildfireAlert BreakingNews ClimateCrisis Evacuation LimassolFire ] pic.twitter.com/CdfTWXiBAj
Firefighters, supported by over 250 personnel and at least 14 aircraft from Cyprus, Spain, Jordan, and the UKās RAF, battled the fire amid strong winds and extremely high temperatures that peaked at 43°C (109.4°F), with forecasts reaching 44°Cāthe hottest day of the year at that time.
Following the disaster, several CFD brokers have actively supported communities affected by providing financial aid and essential supplies. XM has pledged ā¬5 million to assist residents and areas impacted by the fires.
XM commits ā¬5 million to Limassol fire relief https://t.co/ozrpQI0j98 via @In_Cyprus
ā in-cyprus (@In_Cyprus) July 24, 2025
Additionally, IC Markets EU partnered with AEL Limassol to launch a campaign collecting essential goods for affected families. Tickmill has established a donation drop-off point at its Mesa Geitonia, Limassol office.
IG's profit up 24%
Shifting from flames to numbers, IG Group posted strong fiscal year 2025 results, with total revenue exceeding £1.07 billion, up 9% compared to the previous year.
Net trading revenue grew 12% to £942.8 million. The company also saw impressive profits, with adjusted pre-tax profit increasing 17% to £535.8 million. Earnings per share stood at 106.3 pence, a 34% rise from last year.
IG Groupās full-year report 2025 provided additional insights beyond the headline figures, revealing that the company exited several legacy and sandbox initiatives during 2024, including Spectrum, Brightpool, Raydius, BadTrader, and Small Exchange.
The report also highlighted a 7 per cent reduction in organic fixed cost to serve per customer over the past fiscal year. IG plans to launch a new £125 million share buyback programme in the first half of the current fiscal year.
Sports sponsorships: EC Markets, Moneta Markets, Mitrade
Meanwhile, the sports sponsorship market is expanding. EC Markets has signed a multi-year sponsorship deal withLiverpool FC, the reigning domestic league champions, becoming the clubās āOfficial Global Partner.ā
Under the agreement, EC Marketsā branding will be prominently displayed at Liverpoolās iconic home stadium, Anfield. This stadium, opened in 1884, has a seating capacity of nearly 62,000.
Moneta Markets also ventured into the football arena by sponsoring the Spanish club AtlƩtico de Madrid. This collaboration, however, is regional and exclusive to the Asia-Pacific market.
A partnership like no other š
ā Premiership Women's Rugby (@ThePWR) July 22, 2025
The PWR are partnering with eToro and to celebrate we're launching the 'eToro Try of the Week' Award š„
Read more on the link below š#PWR #PoweredDifferently
Down under, Mitrade became the official regional CFD sponsor of Argentinaās national football team, aiming to leverage the World Cup championsā strong following in Southeast Asia and Australia to grow its user base.
Lastly, eToro is sponsoring Premiership Womenās Rugby, making it the first company to sponsor both the Premiership Menās and Womenās Rugby competitions. The company has been sponsoring the menās league since 2023.
LSEās 24/7 plan
In the UK, the London Stock Exchange Group is currently examining the operational and regulatory challenges of introducing 24-hour trading.
Several exchanges have already taken steps to lengthen trading hours in the United States. Last October, the New York Stock Exchange (NYSE) announced plans to extend weekday trading on its NYSE Arca platform to 22 hours daily.
Rostro introduces crypto CFDs prime services
Rostro Group expanded its institutional services by launching prime services for digital asset derivatives. This new offering will provide pricing and execution capabilities specifically for crypto contracts for differences (CFDs), catering to institutional clients.
These prime services will be delivered under Rostroās institutional division, Scope Prime, which was formed following Rostroās acquisition of Scope Markets in 2022.
OctaFX India fined
Indiaās securities regulator has settled with Tauga Private Limited (formerly OctaFX India Private Limited), requiring the company to pay INR 3.2 million (around $37,000) over alleged ties to an unauthorized global forex and CFD trading platform.
As part of the agreement, Tauga must also surrender its brokerage license, according to the Securities and Exchange Board of India (SEBI).
AI bots dominate Gen Z crypto
A new report by cryptocurrency exchange MEXC shows that 67% of Generation Z crypto traders used at least one AI-powered trading bot in the second quarter of 2025.
The data is based on a sample of over 780,000 users aged 18 to 27. According to the report, a majority of Gen Z traders now rely on artificial intelligence tools to support their investment decisions.
Trump eases Nvidia China chip ban
Away from the industry, Nvidia CEO Jensen Huang successfully lobbied Donald Trump to reverse a ban on advanced AI chip exports to China.
Huangās approach combined economic reasoning, emphasizing the importance of U.S. tech leadership, with strategic messaging around global competition and supply chain influence.
Following the discussions, Trump agreed to ease restrictions, allowing Nvidia to resume certain chip sales to China under defined conditions.
Revolut Picks Paris for EU Push
And lastly, Revolut established a Western Europe headquarters in Paris to expand its presence on the continent and pursue a French banking license.
Revolut is the #1 finance app in Europe ā once again (a thread š§µ)
ā Revolut (@RevolutApp) April 24, 2025
Thanks to your trust, we set a new benchmark in 2024. pic.twitter.com/lf7fAMMoel
While Revolut is not leaving London, the decision signals a strategic shift amid ongoing concerns about the UKās post-Brexit appeal for fintech firms.