FXTM to drop FCA license, doubles down on UAE

The forex and CFD brokerage landscape continues to evolve as major players reassess their market focus. FXTM, the forex and CFD broker owned by Andrey Dashin, is preparing to relinquish its UK Financial Conduct Authority (FCA) license as the company shifts its strategic focus toward Asia and the Middle East.

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At the same time, FXTM is strengthening its presence in the Gulf region by upgrading its existing Category 5 licence in the UAE to a Category 1 license. It will allow it to offer full brokerage operations and client onboarding within the country.

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The broker’s UAE expansion coincides with a new partnership with a local Indonesian brokerage firm, signaling broader regional ambitions across Asia.

FP Markets joins layoff wave

CFD broker FP Markets become the latest firm to implement job cuts as part of a broader restructuring trend in the retail brokerage industry. Christina Koro, the firm’s Group Head of HR & People Culture, confirmed to Finance Magnates that the layoffs affected less than 7% of the broker’s global workforce.

She explained that the decision was linked to a wider organizational review examining how roles are structured and aligned with the company’s ongoing growth strategy. Koro added that while some positions are being consolidated or redefined, FP Markets continues to invest in technology and expand into new markets. The Australian-based broker employed over 300 staff globally as of mid-2025, including more than 100 in Cyprus.

74 UK brokers allowed to offer CFDs

Meanwhile, as of December 1, 2025, there were 74 Financial Conduct Authority (FCA)-regulated firms permitted to offer contracts for difference (CFD) products to retail traders in the United Kingdom, according to data obtained by FinanceMagnates.com through a Freedom of Information request. In total, 105 firms were listed within the FCA’s CFD portfolio, though a few are believed to have since surrendered their licenses.

Among those planning to exit the UK market is FXTM, which recently confirmed its intention to give up its FCA license while expanding operations in the UAE and Indonesia. The British regulator further disclosed that 2,547 firms were authorized to act as principals and/or agents with permissions covering CFDs, rolling spot forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, or spread bets for clients. Despite some withdrawals, the figures highlight that dozens of brokers remain active under FCA oversight.

Are tech glitches breaking traders?

Trading technology problems have become the main source of stress for many buy-side equity traders, outweighing worries about careers, compliance, and work-life balance. A recent study found that 51% of surveyed traders named internal tech issues as their biggest cause of fatigue or burnout, with frequent small glitches creating a “death by a thousand cuts” effect and leaving less tolerance for IT failures in an electronic trading environment.

Capital cycle and crowding update for thematic ETF's. Noteworthy that robotics and automation remain relatively uncrowded and capital scarce compared to its own 10y history pic.twitter.com/kxc0VYKGyY

— Variant Perception (@VrntPerception) September 24, 2025

In his column, Paul Golden looks at how these technology issues affect traders’ mental load and day-to-day work. He also examines HALO investing trends, the risks linked to thematic ETFs, and why Bloomberg terminals still matter even as new AI tools challenge their role in the trading desk toolkit.

MetaQuotes debuts MetaTrader.com

Elsewhere, MetaQuotes, the Cyprus-based developer of the MetaTrader trading platforms, launched MetaTrader.com, a centralized portal designed to deliver financial data and tools to retail traders, market analysts, and algorithmic developers.

The new site consolidates market information, news feeds, interactive charting, and a developer marketplace in one location. According to the company, users can log in using their existing MQL5.com credentials, enabling seamless access for those already part of the MetaQuotes community.

The launch continues MetaQuotes’ effort to broaden its product ecosystem beyond its flagship MT4 and MT5 terminals. It follows several recent initiatives, including a December 2025 update to the pricing model for its Ultency liquidity bridge.

Prop firms pivot to stocks, without the leverage

For nearly a decade, proprietary trading firms have perfected a model rooted in forex and CFDs, fast-paced markets defined by high leverage, razor-thin spreads, and quick turnover. The approach has paid off handsomely: industry figures show that leading firms have distributed more than $1 billion in trader payouts, with FTMO alone handing out roughly $450 million during its first ten years in business.

Now, the sector’s attention is turning to a much larger playing field: U.S. equities. Yet this strategic shift poses fundamental questions about sustainability. Stocks lack the extreme leverage and margin efficiencies that underpin the FX prop model, forcing firms to rethink how they generate returns and whether their business economics can adapt to a market governed by very different mechanics.

Coinbase wins Aussie nod for equity derivatives

In the crypto space, Coinbase is pushing ahead with its global expansion after obtaining an Australian financial services license. The new authorization enables the crypto exchange to offer crypto and equity perpetual contracts, with plans to roll out additional products such as futures and options in the future.

The move marks a significant step in Coinbase’s broader strategy to evolve into a multi-product financial platform. The company aims to integrate crypto trading with equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term, derivatives, and other traditional instruments, positioning itself as a comprehensive “gateway to everything in finance.”

Singapore’s independent wealth managers gear up for growth

Elsewhere, the external asset management is emerging as a key growth area in Singapore’s wealth sector as high-net-worth and ultra-high-net-worth clients increasingly seek customized investment solutions. The trend highlights a shift toward independent advice and greater flexibility compared to traditional private banking models.

New research from Bank of Singapore shows that external asset managers are gaining momentum, supported by a new generation of clients who prioritize autonomy, transparency, and personalized service.

Over half of the managers surveyed in late 2025 and early 2026 said they were exploring new markets and forming strategic partnerships, while nearly two-thirds identified enhancing client experience and engagement as their main focus.

iFOREX, DB Investing, and GTN: executive moves of the week

In the executive moves of the week, CFD and FX broker iFOREX named Michael Hewson as its new Senior Financial Strategist, bolstering the company’s in-house research and education offering. Hewson joins after a long spell at CMC Markets as Chief Market Analyst, followed by a period working independently as an analyst and content producer.

UAE-based forex and CFD broker DB Investing appointed Syed Ahmmed as Chief Business Development Officer, giving him a global remit after several years in senior roles at OneRoyal and Zara FX. He is based in Muscat, Oman, and oversees business development for the broker across MENA, the Indian subcontinent, Southeast Asia and Latin America.

Lastly, Salim Sebbata, a veteran of the retail trading sector, left Capital.com to join GTN as Chief Commercial Officer for its European operations, Finance Magnates has learned. He said the company’s main focus for his remit will be driving organic growth in Europe.