Paul Golden's Column
FX Traders Have 24/5 Market Access, but Is Round-the-Clock Trading Good for Stocks?
- The average trader generated 7% per year in the 10 years ended in 2024, while US mutual funds and exchange-traded funds generated an 8.2% aggregate annual total return. Anchoring this, Paul Golden explores the risks of round-the-clock trading.
- He also dived into the trend of rising AI investments and AFME’s latest Capital Markets Union – Key Performance Indicators report.
Wednesday, 03/12/2025 | 10:00 GMT by
Paul Golden
IG Wants to Capture the Irish Market, but Are Reputation and Low Fees Enough?
- IG sees itself as appealing to Irish customers who have avoided the neobrokers with limited track records and are unhappy with the fees charged by the established firms. Paul Golden looks into the challenges there.
- He further weighs in on the business strategy of Michael Saylor's Strategy and the state of the European equity markets.
Friday, 28/11/2025 | 07:38 GMT by
Paul Golden
Is Consumer Duty the Next Flashpoint Between the FCA and CFD Brokers?
- Paul Golden dives into rule Britannia this week, as the UK’s financial regulator takes aim at CFD brokers failing to meet their consumer-protection duties.
- He also explains why the chancellor of the exchequer will have her work cut out to persuade more Brits to invest in the stock market and why the Scots may be raising a kilt.
Thursday, 20/11/2025 | 14:30 GMT by
Paul Golden
Bank of England’s 40% Collateral Requirement: Will It Boost or Bust Stablecoins?
- Stablecoin issuers in the UK must park 40% of the assets backing the cryptocurrency with the Bank of England in accounts that will not pay any interest. Paul Golden weighs in on its impact.
- He further delves into the growing concerns about the AI stock bubble and Robinhood’s futures trading dilemma.
Wednesday, 12/11/2025 | 09:33 GMT by
Paul Golden
Buy British, They Said - But Try Finding One in the FTSE 100
- Paul Golden thinks the UK’s latest plan to make ISAs more “British” misses the point
- Silver rebounds as gold dips, offering hedging benefits and industrial demand support.
- US margin debt hits $1 trillion, raising risk of amplified market downturns if prices fall.
Thursday, 06/11/2025 | 09:41 GMT by
Paul Golden
Inside Bank of England’s Warning: AI Valuations Echo Dotcom Era, But With Real Revenue
- Paul Golden explores how AI-linked capital spending is distorting macro trends – and why power, water, and hype may prove limiting factors.
- High-profile US credit defaults have prompted the BoE to examine systemic risks in private credit.
- UK pension funds commit £50 billion to private assets over five years, seeking higher returns despite uneven growth.
Wednesday, 29/10/2025 | 10:11 GMT by
Paul Golden
UK Stamp Duty Debate Highlights Tension Between Market Growth and Public Finances
- Paul Golden also explores how retail investors mistakenly treated DATs as direct Bitcoin exposure - losing a collective $17 billion in the process.
- And why are EU fund managers and asset management firms frustrated?
Wednesday, 22/10/2025 | 09:34 GMT by
Paul Golden
Robinhood Made a U-Turn on Copy Trading: What Has Changed?
- The broker announced its entry into copy trading with “Robinhood Social” only nine months after it railed against the very service.
- Paul Golden also spotlights a growing debate that compares gold’s safe-haven status with Bitcoin’s upside potential, hinting at a shift in sentiment.
- And finally: Are Bonds Shaken or Just Stirred?
Wednesday, 15/10/2025 | 12:16 GMT by
Paul Golden
Billions in Stablecoins, Football Sponsorships and the Fight Over Prediction Markets
- Tether has announced a US-compliant stablecoin and appointed Bo Hines. Paul Golden examines what this means for the issuer’s dominance in the stablecoin market.
- He also examined the growing dominance of crypto firms in football sponsorships and the rise of prediction markets.
Wednesday, 01/10/2025 | 09:35 GMT by
Paul Golden
US Rewinds on Crypto, Europe Consolidates, and Kraken’s Prop Bet Drips with Irony
- The CFTC recently opened doors for global crypto platforms to accept US customers. Paul Golden weighs in on how it will impact the current retail and institutional crypto trading scene.
- He also dived into consolidating European stock exchanges and Kraken's entry into prop.
Thursday, 18/09/2025 | 09:36 GMT by
Paul Golden
Trusts Tested, Shareholders Push Back, and AI Tackles FX
- LTAFs offer an opportunity to individual investors to diversify their portfolios and access investments beyond the stock market. Paul Golden weighs in on their impact on trusts.
- He further dives into how shareholder opposition to executive pay rose sharply in 2025 and the role of language in training LLMs for FX trading.
Tuesday, 16/09/2025 | 14:07 GMT by
Paul Golden
Stablecoins, UK Policy Clashes, and Retail Crypto’s Rise: Could ETFs and CFDs Be Next?
- The vast majority of stablecoin transactions are now taking place outside the banking system. Paul Golden weighs in on how banks are aiming to bring these cryptocurrencies to the mainstream payments system.
- He also discusses the policy conundrum in the UK regarding the digital pound and the impact of the FCA's decision in favour of retail crypto ETNs.
Thursday, 04/09/2025 | 10:24 GMT by
Paul Golden
Plus500 Doubles Down on Loyalty, Props Await Rules and Dubai Lures Traders
- Plus500 generated 84 per cent of its revenue from clients who had traded with the firm for over 12 months, while 47% came from traders with more than five years’ experience. Paul Golden weighs in on how cost-effective it is to drive revenue from existing clients.
- He also dives into the struggles of self-regulating prop firms and Dubai's emergence in the retail trading scene.
Thursday, 28/08/2025 | 11:14 GMT by
Paul Golden
Prime Brokerage Booms, FX Fix Woes, and the Tech Black Box
- The concentration of prime brokerage business among Goldman Sachs, JP Morgan, and Morgan Stanley is now encouraging European banks to enter the space. It is also attracting regulators' attention. Paul Golden examines the trend.
- He also dives into the menace of the trade information leakage and technological opaqueness around execution.
Wednesday, 20/08/2025 | 13:29 GMT by
Paul Golden
Regional Banks Push Into Crypto, Coinbase Widens Its Net, and Cyclicals Outrun Defensives
- Regional banks are well placed to tap into crypto markets. But how ready are they to offer the volatile asset class to their customer base? Paul Golden dives in.
- He also looks into Coinbase's plans to diversify into mainstream financial markets and the performance of cyclical sectors amid Trump's tariffs.
Wednesday, 13/08/2025 | 09:38 GMT by
Paul Golden
Screens On, Sleep Off: LSE's 24/7 Plan, Bloomberg Terminal Still Reigns, 401(k)s Get Risky
- LSEG evaluates the implications of 24-hour trading. But does it bring value? Paul Golden explores the risks of a round-the-clock market.
- He also weighs in on the present dominance and future of Bloomberg Terminal, as well as the shift in America's retirement investments.
Friday, 25/07/2025 | 08:52 GMT by
Paul Golden
IG Wants to Save UK Capital Markets Amid Dire Listing Appetite
- London raised £74.7 million in Q1 from new listings, compared to the US's £8.9 billion. Paul Golden explores whether the city's capital markets can be saved.
- He further weighs in on the possibility of market consolidation with T+1 settlement and how retail investment is increasing in private markets.
Wednesday, 02/07/2025 | 12:28 GMT by
Paul Golden
Consumer Duty Fulfilled – If You Ask the FCA
- Paul Golden notes that while the FCA is quick to applaud itself with banks' praise for the Consumer Duty, many UK brokers cite the same rules as one of the reasons they’re exiting the market.
- He also delved into Europe's aim to move towards a T+1 settlement system and its ambition for a digital euro.
Wednesday, 18/06/2025 | 10:59 GMT by
Paul Golden
A Big Bank to Launch a Stablecoin: Is the Adoption Mainstream Now?
- Paul Golden weighs in on how Société Générale's decision to launch a stablecoin is pushing big banks to enter the digital asset sector.
- He further points out the payment dilemma for brokers and how Wall Street giants are trimming their money managers.
Wednesday, 11/06/2025 | 08:22 GMT by
Paul Golden
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