Traders were unable to locate broker servers through the popular MT4 and MT5 mobile trading apps as the market tried to determine whether it was a technical issue or a looming regulatory crackdown on foreign leveraged trading platforms.
The Chinese version of TikTok is full of videos describing the issue and showing possible solutions.
“China is not an open market, but it is a great market,” Sophie Squillacioti, MultiBank’s Head of China Sales, told FinanceMagnates.com when discussing the intricacies of the Chinese forex and contracts for differences (CFDs) market. She added, “The Chinese market is very developed in this industry.”
In the disruption that lasted for more than a week, new users were unable to locate broker servers through the popular trading applications, according to industry sources familiar with the matter.
The connectivity problems, which began in the second half of May, primarily affected new users attempting to register with FX brokers through the MT4 and MT5 mobile applications.
Away from the regulatory crackdown in China, IG Group is reportedly closing down its local South African business. However, the broker will allow South Africans to maintain accounts under the group’s offshore entities.
The reason behind IG's sudden closure of its South African operations remains unknown. The broker stated that it will stop opening new positions tomorrow, and existing clients will have until 28 July 2025 (4 p.m. CAT) to close all open positions.
Breon Corcoran, CEO of IG Group
“We are hereby providing notice of termination of the contract between us. This change does not affect any international (offshore) accounts you may hold with IG based in the UK or elsewhere – all positions in your offshore accounts will continue unaffected.”
Interestingly, Scope Prime has expanded its CFDs offerings in South Africa to include equities and exchange-traded funds listed on the Johannesburg Stock Exchange, positioning itself against competitors who are reducing their presence in the region.
This means that the agency cannot pursue the case again. The exchange was also accused of facilitating the trading of cryptocurrencies that could be classified as unregistered securities.
The regulator found that some of these firms maintain complex website structures, particularly those that are part of global entities with layered navigation and content targeting multiple jurisdictions.
Circle seeks $6.7 billion valuation in NYSE IPO
Following the eToro IPO, Circle Internet, the company behind the USDC stablecoin, plans to go public in the United States. Through an initial public offering, the company aims for a valuation of up to $6.71 billion on a fully diluted basis.
In a filing on Tuesday this week, Circle said it plans to sell about 9.6 million shares. Some of its existing shareholders also intend to sell roughly 14.4 million shares. At the same time, the crypto space is focusing on sports sponsorship deals.
According to a report by Sportquake, Crypto.com has spent $213 million on sports deals in the ongoing season, substantially more than the next spender, Coinbase, at $80 million. OKX and Gate.io spent $71 million and $53 million, respectively, while Binance spent $31 million.
Football sponsorship shake-up
“Betting is the fifth-biggest spender on sports sponsorship globally and the second-largest spending brand category in Premier League sponsorship,” Matt House, CEO of SportQuake, told FinanceMagnates.com, as the UK is preparing to ban teams from displaying betting brands on shirts.
Interestingly, 11 Premier League teams currently feature a gambling sponsor on the front of their shirts. According to figures from GlobalData, the combined value of these shirt sponsorship deals in the ongoing season is $135.43 million (£101.1 million). House revealed that betting brands account for 10% of total Premier League sponsorship spending.
Financial content creators need a “finfluencer” license in the UAE
The United Arab Emirates introduced a new licensing requirement for individuals who create financial content online. The Securities and Commodities Authority launched what it calls a “finfluencer” licence.
The licence is aimed at influencers who offer investment advice, market analysis, or financial promotions through digital channels. This includes social media, blogs, YouTube, podcasts, and webinars. It also reportedly applies to in-person events.
OANDA, NinjaTrader fined by NFA
On the regulatory front, the National Futures Association (NFA) ordered New York-based forex dealer OANDA Corporation to pay a $600,000 penalty following a series of alleged compliance failures, including inadequate capital practices and issues with client transparency.
The agency also fined NinjaTrader $250,000, alleging serious gaps in its compliance framework. According to the association, the Chicago-based futures commission merchant faced regulatory scrutiny over failures in its anti-money laundering program and overall supervision procedures.
Nvidia’s big day
Chipzilla Nvidia is set to announce Q1 earnings, and Wall Street’s already salivating over a projected 66% revenue jump, thanks to AI mania and some well-timed Middle East deals.
When you’re the king of AI chips, every earnings call is a referendum on the future of tech. Nvidia, whose GPUs power everything from ChatGPT to self-driving cars, is about to release its Q1 2025 results, and the financial and tech worlds are on edge.
Trump Tariffs—Europe
Also concerning Trump's sweeping tariffs: the EU is ready to rumble, and America’s travel industry just got caught in the crossfire.
The former-turned-current president is threatening a sweeping 50% tariff on all EU imports. The EU’s trade chief, Maros Sefcovic, said of the saturation, “EU-US trade is unmatched and must be guided by mutual respect, not threats. We stand ready to defend our interests.”
The result: Tourists from countries targeted by Trump’s tariffs, such as Germany, Canada, Japan, and Mexico, are opting out of US vacations. They’re not just cancelling road trips; they’re scrapping their entire itinerary.
Lastly, HF Markets (HFM) has appointed Ahmad Qutaishat as Senior Business Development Manager, marking another senior-level hire for the
brokerage as it continues to expand its regional operations. Qutaishat joins
HFM after serving as Vice President of Sales at ATFX MENA for nearly one year.
Traders were unable to locate broker servers through the popular MT4 and MT5 mobile trading apps as the market tried to determine whether it was a technical issue or a looming regulatory crackdown on foreign leveraged trading platforms.
The Chinese version of TikTok is full of videos describing the issue and showing possible solutions.
“China is not an open market, but it is a great market,” Sophie Squillacioti, MultiBank’s Head of China Sales, told FinanceMagnates.com when discussing the intricacies of the Chinese forex and contracts for differences (CFDs) market. She added, “The Chinese market is very developed in this industry.”
In the disruption that lasted for more than a week, new users were unable to locate broker servers through the popular trading applications, according to industry sources familiar with the matter.
The connectivity problems, which began in the second half of May, primarily affected new users attempting to register with FX brokers through the MT4 and MT5 mobile applications.
Away from the regulatory crackdown in China, IG Group is reportedly closing down its local South African business. However, the broker will allow South Africans to maintain accounts under the group’s offshore entities.
The reason behind IG's sudden closure of its South African operations remains unknown. The broker stated that it will stop opening new positions tomorrow, and existing clients will have until 28 July 2025 (4 p.m. CAT) to close all open positions.
Breon Corcoran, CEO of IG Group
“We are hereby providing notice of termination of the contract between us. This change does not affect any international (offshore) accounts you may hold with IG based in the UK or elsewhere – all positions in your offshore accounts will continue unaffected.”
Interestingly, Scope Prime has expanded its CFDs offerings in South Africa to include equities and exchange-traded funds listed on the Johannesburg Stock Exchange, positioning itself against competitors who are reducing their presence in the region.
This means that the agency cannot pursue the case again. The exchange was also accused of facilitating the trading of cryptocurrencies that could be classified as unregistered securities.
The regulator found that some of these firms maintain complex website structures, particularly those that are part of global entities with layered navigation and content targeting multiple jurisdictions.
Circle seeks $6.7 billion valuation in NYSE IPO
Following the eToro IPO, Circle Internet, the company behind the USDC stablecoin, plans to go public in the United States. Through an initial public offering, the company aims for a valuation of up to $6.71 billion on a fully diluted basis.
In a filing on Tuesday this week, Circle said it plans to sell about 9.6 million shares. Some of its existing shareholders also intend to sell roughly 14.4 million shares. At the same time, the crypto space is focusing on sports sponsorship deals.
According to a report by Sportquake, Crypto.com has spent $213 million on sports deals in the ongoing season, substantially more than the next spender, Coinbase, at $80 million. OKX and Gate.io spent $71 million and $53 million, respectively, while Binance spent $31 million.
Football sponsorship shake-up
“Betting is the fifth-biggest spender on sports sponsorship globally and the second-largest spending brand category in Premier League sponsorship,” Matt House, CEO of SportQuake, told FinanceMagnates.com, as the UK is preparing to ban teams from displaying betting brands on shirts.
Interestingly, 11 Premier League teams currently feature a gambling sponsor on the front of their shirts. According to figures from GlobalData, the combined value of these shirt sponsorship deals in the ongoing season is $135.43 million (£101.1 million). House revealed that betting brands account for 10% of total Premier League sponsorship spending.
Financial content creators need a “finfluencer” license in the UAE
The United Arab Emirates introduced a new licensing requirement for individuals who create financial content online. The Securities and Commodities Authority launched what it calls a “finfluencer” licence.
The licence is aimed at influencers who offer investment advice, market analysis, or financial promotions through digital channels. This includes social media, blogs, YouTube, podcasts, and webinars. It also reportedly applies to in-person events.
OANDA, NinjaTrader fined by NFA
On the regulatory front, the National Futures Association (NFA) ordered New York-based forex dealer OANDA Corporation to pay a $600,000 penalty following a series of alleged compliance failures, including inadequate capital practices and issues with client transparency.
The agency also fined NinjaTrader $250,000, alleging serious gaps in its compliance framework. According to the association, the Chicago-based futures commission merchant faced regulatory scrutiny over failures in its anti-money laundering program and overall supervision procedures.
Nvidia’s big day
Chipzilla Nvidia is set to announce Q1 earnings, and Wall Street’s already salivating over a projected 66% revenue jump, thanks to AI mania and some well-timed Middle East deals.
When you’re the king of AI chips, every earnings call is a referendum on the future of tech. Nvidia, whose GPUs power everything from ChatGPT to self-driving cars, is about to release its Q1 2025 results, and the financial and tech worlds are on edge.
Trump Tariffs—Europe
Also concerning Trump's sweeping tariffs: the EU is ready to rumble, and America’s travel industry just got caught in the crossfire.
The former-turned-current president is threatening a sweeping 50% tariff on all EU imports. The EU’s trade chief, Maros Sefcovic, said of the saturation, “EU-US trade is unmatched and must be guided by mutual respect, not threats. We stand ready to defend our interests.”
The result: Tourists from countries targeted by Trump’s tariffs, such as Germany, Canada, Japan, and Mexico, are opting out of US vacations. They’re not just cancelling road trips; they’re scrapping their entire itinerary.
Lastly, HF Markets (HFM) has appointed Ahmad Qutaishat as Senior Business Development Manager, marking another senior-level hire for the
brokerage as it continues to expand its regional operations. Qutaishat joins
HFM after serving as Vice President of Sales at ATFX MENA for nearly one year.
From Volumes to Regulation: Patterns Shaping the Online Trading Industry
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
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
