IG MENA sees record volumes, plans new app launch

IG Group is seeing steady growth in the Middle East as it strengthens its presence and adapts to changing market conditions. According to MENA CEO Sharaz Hussain, the broker’s Dubai office continues to attract walk-in interest, with some visitors simply confirming the company’s physical presence, while others arrive ready to apply.

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He also noted plans to launch a new app later this year, highlighting IG’s broader ambition to evolve into a financial super app. Despite recent regional disruptions, March marked a record month for trading volumes in the region. The Dubai office, established in 2015 within the Dubai International Financial Centre, serves as IG’s regional hub and employs around 25 staff.

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The location has become an important contributor to the firm’s performance, generating £28.7 million in net trading revenue for the year ending May 2025, up from £18.9 million a year earlier.

At the same time, IG Securities (IG Japan) apologized after discovering improper handling of customers’ “specific personal information,” including My Number data. The firm identified two issues. First, some IG Group employees had unauthorized internal access to customer data through an internal system. This data included names, dates of birth, addresses, contact details, and My Number information, although the start date of the access remains unclear.

Second, customer data was stored on an external server managed by IG Markets Limited without prior approval from IG Securities, around late January 2026. The company said the external provider could not access the stored data. In total, 162,879 customers were potentially affected by the internal access issue, while 29,734 customers had their data stored on the external server.

Capital.com signals EMI ambitions with Cyprus CEO search

Capital.com is recruiting a Chief Executive Officer to lead a Cyprus-based Electronic Money Institution (EMI), according to a LinkedIn job posting. The role would be regulated by the Central Bank of Cyprus and subject to its “fit and proper” approval process, as required for senior EMI positions.

The move suggests the broker may be pursuing direct ownership of an EMI rather than partnering with an existing provider. The firm confirmed it is exploring the development of an EMI business as part of its long-term strategy, although it has not disclosed whether it has secured a license.

Capital.com plans to establish local operations in Bahrain and Azerbaijan and open a new branch in Germany. The broker is hiring local Directors in Bahrain and Azerbaijan to oversee day-to-day activities, as well as a Head of Branch in Germany who will be responsible for setting up, managing, and growing the new office.

These locations are not currently listed among the company’s existing offices, which are mainly in Europe, including Cyprus, Poland, Italy, Lithuania, and a customer support hub Hub A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method Read this Term in Bulgaria. The move aligns with Capital.com’s broader international expansion strategy. While the firm has not officially confirmed entry into these specific markets, it stated that it regularly reviews its global presence to determine where regulated operations can best serve clients.

CFI secures Brazil brokerage license

Also expanding, CFI Financial Group secured authorization from Brazil’s central bank to operate as a securities brokerage firm. The Banco Central do Brasil approved CFI to act as a Corretora de Títulos e Valores Mobiliários, enabling it to offer local clients access to equities and fixed-income securities.

The approval expands the Dubai-based group’s regulatory footprint to 15 licenses globally and marks its entry into the Brazilian market after focusing on growth across the Middle East, Africa, and parts of Latin America. CFI reported $2.3 trillion in trading volume in Q1 2026, up 11% quarter-on-quarter and 81% year-on-year, with total 2025 volume reaching $6.4 trillion and active clients rising 18%.

The broker said the growth was driven by higher client activity across markets and continued expansion in new client acquisition, with active clients rising 18% year-on-year and 15% quarter-on-quarter. New clients rose 27% from the prior quarter, while net deposits increased 39% over the same period.

EC Markets hits record Q1 volume

It has been a busy week of financial reporting, as brokers publish first-quarter results. EC Markets reported total trading volume of $5.13 trillion in the first quarter of 2026, up 14.6% from the previous quarter. The increase places the broker among the top three globally by trading volume, driven by higher trading activity and a rise in active clients.

🚀 Q1 2026: EC Markets Hits $5.13T Quarterly Trading Volume!

📈 +14.6% vs Q4 2025
📊 $1.709T monthly average
🌍 272K active traders (+18.3%)

Maintaining our position as 3rd globally by trading volume.#ECMarkets #FinanceMagnates #TradingGrowth #CFDs #Forex pic.twitter.com/ksAuuK4ick

— EC Markets Global (@EcmarketsGlobal) April 23, 2026

The broker posted steady growth across key metrics, with average monthly volumes reaching $1.709 trillion and daily volumes at $81.4 billion. Compared to Q4 2025, daily trading activity climbed 18.3%, while monthly volumes rose 14.5%.

XTB adds 370K clients as Q1 profit hits PLN 535M

XTB also posted record financial results for the first quarter of 2026, with strong year-on-year growth across key metrics. Net profit rose to PLN 535 million, marking a 176% increase compared to the same period last year. Operating income also climbed significantly, reaching PLN 1.09 billion, up 88.5% year-on-year.

Alongside its financial performance, XTB expanded its sports sponsorship activities. The company recently became the Global Trading Partner of Italian football club SSC Napoli, adding to its existing sponsorship presence across football, MMA, basketball, tennis, and boxing.

iForex IPO year ends in $3.2M loss on rising costs

At the same time, iForex, the CFD broker that went public earlier this year, reported a slight decline in revenue for 2025. Annual revenue fell 2% to $49.1 million, while adjusted pre-tax profit dropped 4.3% to $1.6 million.

The company recorded a net loss of $3.2 million for the year, compared to a $6 million profit in 2024. Its adjusted EBITDA also fell sharply by 55.7% to $4.3 million, with the EBITDA margin narrowing to 8.8% from 19% a year earlier.

CySEC turns 30

In the regulatory front, CySEC marked its 30th anniversary this week, offering a chance to reflect on how it grew into one of Europe’s most influential retail trading Retail Trading In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade Read this Term regulators. Established in 1996, it only became an independent public body in 2001. In its early years under Chairman Marios Clerides, the focus was not on supervising a large brokerage sector but on building a regulatory framework before the industry fully developed.

A major turning point came in 2004 when Cyprus joined the EU, allowing firms to passport services across Europe and turning the country into a gateway for financial services. The introduction of MiFID in 2007 further strengthened this position by formalizing the Cyprus Investment Firm structure and expanding market access, alongside the creation of the Investor Compensation Fund.

Hola Prime taps Deloitte to audit payouts

In the prop trading space, Hola Prime commissioned Deloitte to independently review its payout processing between October 15, 2025 and March 15, 2026, with the audit finding that 98.35% of withdrawal requests were completed within the firm’s one-hour target and none were rejected, according to documents seen by FinanceMagnates.com.

The use of a Big Four auditor stands out in a prop trading sector where payout transparency is typically based on internal dashboards, company disclosures, or blockchain trackers that cannot consistently distinguish trader payouts from operational flows.

The review comes amid rising competition around transparency as payout reliability remains a concern across the industry. Hola Prime, registered in Hong Kong and operating its brokerage under a Mauritius Financial Services Commission license, says it has paid out approximately $3.2 million to funded traders to date, including around $2 million in Q1 2026.

Fintokei touts sub-second payouts

Fintokei said this week that it reduced trader payout times to seconds, positioning speed as a key competitive feature among prop trading firms. The Czech-based company, owned by Purple Group, stated that its automated system can transfer funds from a withdrawal request to a trader’s wallet almost instantly using its proprietary Walletory e-wallet, bypassing traditional banking infrastructure.

The firm said it achieves this by continuously monitoring trader accounts and completing compliance checks in advance, so validation is already done when a withdrawal is requested. Fintokei reported a 99.9% approval rate, though this has not been independently verified.

Plus500 amid split lawsuits in US prediction markets

Meanwhile, in the prediction markets, U.S. regulators are increasingly divided over how to classify prediction markets, with some treating them as financial derivatives and others as gambling products. This split has triggered a wave of legal battles, effectively pushing the issue into the courts.

The conflict escalated recently as the CFTC sued Arizona, Connecticut, and Illinois for intervening against prediction platforms, arguing that such actions undermine federally approved markets. In response, New York’s Attorney General filed lawsuits against Coinbase and Gemini, accusing them of running illegal gambling operations, prompting swift federal pushback to defend its authority.

“Set and forget” investing fades

The investment world is packed with catchy sayings, many made famous by Warren Buffett. Phrases like “be fearful when others are greedy and greedy when others are fearful” and “price is what you pay, value is what you get” have become guiding principles for investors everywhere. Even older market wisdom like “sell in May and go away” still gets attention.

According to RBC BlueBay, longer life expectancies are reshaping what investors need from their money, and a completely hands-off strategy may no longer deliver the results people expect. While there’s plenty of talk about wealth shifting to younger generations, baby boomers still hold more than half of all wealth in the US.

Executive moves of the week: EWMP, TraditionData

For the executive moves, Richard Elston joined EWMP Management Consulting as a strategy consultant. EWMP is part of Edgewater Markets Group, a firm that provides institutional liquidity and execution services, with a focus on metals and foreign exchange.

At the same time, TraditionData appointed Shynna Lee as Head of Sales and Partnerships for Asia Pacific, the company announced on Monday. Lee, who is based in Singapore, joins from London Stock Exchange Group and becomes the latest addition to a regional team the firm has been expanding.