Tradu, FXCM to slash jobs citing agentic AI

As the year winds down, this week still delivered plenty for brokers. FXCM and Tradu’s parent company is preparing to cut more than 100 jobs.

Sources familiar with the matter said the layoffs will affect multiple departments and locations, marking one of the largest workforce reductions for the group in recent years.

However, CEO Brendan Callan attributed the cuts to operational efficiencies driven by agentic AI, though some industry observers suggested that recent financial performance could also be a contributing factor.

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Finalto wins UAE license, names new MENA CEO

Not every firm is in cost-cutting mode. Finalto was granted a license in the UAE, enabling the firm to operate under the local regulatory framework and serve professional and institutional clients in the country.

Conor Canny has been appointed CEO for MENA at Finalto. He described the license as a major milestone for the group in the Middle East, saying it will help deepen its commitment to the UAE by expanding client access to its global liquidity and technology solutions.

Rostro also gets UAE nod, adds equity CFDs

Another UAE approval went to Rostro Group, the owner of retail broker Scope. The Category 5 license from the UAE Securities and Commodities Authority allows the Dubai-based holding company to expand its brokerage and trading services across the country and the wider Gulf region.

Rostro can now offer more than 60 regional contracts for difference on equities, as well as proprietary CFD indices that track the performance of the Dubai and Abu Dhabi stock markets.

Afrimarkets loses South Africa license

In Africa, the picture looks quite different. Afrimarkets Capital was permanently stripped of its financial services provider license in South Africa, following a misconduct investigation by the Financial Sector Conduct Authority.

According to the watchdog, Afrimarkets misappropriated client funds, offered advice to customers without the necessary authorization, and supplied false or misleading information both to clients and to the authority itself.​

NAGA announced 10-to-1 reverse stock split

Meanwhile, NAGA Group announced a 10‑to‑1 reverse stock split. The company said the move is intended to bring its share price more in line with comparable firms and to bolster its appeal to institutional and international investors.

NAGA’s management described the reverse split as a technical step aimed at improving market perception and trading flexibility.

CEO Octavian Patrascu noted that, despite operational restructuring and a stronger financial position over the past two years, the company’s share price has not reflected these improvements.

Do prop traders trust YouTube for peer experience?

FXStreet recently reported the results of a survey of proprietary traders in 10 markets across North and South America, Africa, Asia and Europe. One key finding was that even when a firm is recommended by someone they trust, traders still tend to seek additional opinions before making a commitment.

Michael Burry of The Big Short fame gives first interview in over 10 years and says, “Bitcoin is not worth anything. It’s the tulip bulb of our time.” pic.twitter.com/ge1zteSVqS

— Documenting ₿itcoin 📄 (@DocumentingBTC) December 4, 2025

Many respondents said YouTube is their main source of reassurance because they want to hear about other traders’ experiences with specific firms and often review both video content and comments, alongside feedback on platforms such as X and Reddit.

The growing importance of YouTube in the trading ecosystem has also been underscored by moves such as Spotware Systems launching an official channel aimed at connecting industry professionals through real stories and clear conversations.

Prop space still struggles with credibility

In prop trading, trust is the one metric you can’t see on a dashboard. Kathy Lien told Finance Magnates that her goal with PropTraderEdge.com is to raise the standard of education across the prop trading space.

The refreshed site is positioned as a hub for funded traders, focusing on market navigation, risk management and trading psychology through a mix of long-form analysis, short video content, verified trader interviews and prop firm payout updates.

The project comes amid ongoing concerns about transparency and payout reliability in a prop trading industry that has grown rapidly since the pandemic.

My Forex Funds regains Canadian assets

A prop trading comeback story may be inching closer for My Forex Funds. The firm, that abruptly halted its services in August 2023, announced that a Canadian court approved the transfer of its assets in the country back to the company. The firm had previously lost access to these assets amid regulatory and legal action.

In a post on X, My Forex Funds said it is in the process of regaining full control over its assets, data and systems, describing the Canadian asset handover as the third step in an internal road map that could eventually lead to a relaunch. The company did not provide a timeline or firm commitment on when or whether trading services will resume.

Tokenized stock volumes jump 450% after earnings

Elsewhere, tokenized US stocks are quietly becoming one of the busiest corners. Recent research from Bitget indicates that activity in tokenized stocks jumped by 450% during the latest earnings season, pointing to a potential shift in market behavior.

According to the data, spot trading volumes in tokenized stocks rose 452% month on month, while futures volumes increased by 4,468% over the same period. These moves suggest that both speculative traders and longer-term investors are increasingly using tokenised stock instruments.

One-third of eToro trades in 24/5 extended market hours

Extended trading is no longer an add-on at eToro—it’s where a third of stock orders land. The company mentioned that about one-third of stock trading takes place outside traditional market hours.

The milestone comes less than a month after eToro extended 24/5 trading to all S&P 500 and Nasdaq 100 constituents, following an initial rollout in July that covered 100 leading US equities.

Trading on the platform is available from Sunday 8:05 p.m. to Friday 4:00 p.m. ET, enabling users in regions such as Europe and Asia to trade names like Apple, Tesla and Nvidia during their local daytime hours.

Belarus blocks major crypto exchanges

In crypto, a fresh wave of restrictions is emerging out of Belarus. The country has started blocking access to several major global cryptocurrency exchanges, including Bybit, OKX, BingX and Bitget, based on data from the national internet‑filtering authority BelGIE.

The move follows a decision by the Ministry of Information and prevents local users from reaching these platforms. The affected exchanges have previously acted as informal crypto on‑ and off‑ramps for client deposits and withdrawals used by many forex and CFD brokers.

Apple faces leadership shake-up

Lastly Apple is losing a surprising number of senior voices just as it leans harder into AI. At the tech giant several long-serving executives and senior figures heading for the exit. The changes come ahead of the appointment of the company’s next CEO.

Apple chip chief weighs exit amid leadership exodus https://t.co/fOOTsjLWog

— Rory Bernier (@RoryCrave) December 8, 2025

In recent weeks, key leaders across artificial intelligence strategy, human‑interface design, legal affairs, environmental and social initiatives, and operations have announced plans to depart or retire.