Just how bad was Admirals’ second half of 2025, after a dismal first half of the year?
Who is heading Finalto’s new Dubai office?
What were Capital.com’s record trading volumes in the fourth quarter of 2025? Where was all the trading “action” taking place?
Who is CFDs broker Zarvista’s new CEO?
Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:
Top FX and CFDs industry news stories this week
Admirals revenues collapse in H2 2025. After posting a multi-year low for revenues (€13M) in the first half of 2025 alongside a net loss of €6M, things have gone from bad to worse at Estonia based Retail FX and CFDs broker Admirals. How low did Admirals’ revenue fall in H2 2025? How much money did Admirals’ lose in H2 2025, and for the full year? How did Admirals explain it all? Read on below, with explanation and analysis you’ll see only at FNG.
XM secures Kenya CMA license. Less than three months after adding a UAE SCA license, leading online broker XM has announced that it has officially obtained a license from the Capital Markets Authority (CMA) of Kenya. The company said that this achievement marks a significant milestone in XM’s strategic expansion across Africa, and reinforces its commitment to providing a secure and regulated trading environment for local investors.
Finalto opens MENA office in Dubai. Finalto, a leading global provider of liquidity and financial technology solutions, has announced the opening of its new MENA office in Dubai. This strategic expansion follows the Finalto Group’s acquisition of a Category 5 CMA license, underscoring the company’s long-term commitment to serving clients across the region. The move reflects the rapidly growing demand for professional and institutional trading services throughout the MENA market.
Capital.com client volumes rise 92% in 2025 to $3.42T led by MENA, Gold trading. Leading online broker Capital.com has published its 2025 trading platform activity summary, reporting $3.42 trillion in client trading volume for the year. Trading volumes increased 92.1% year-on-year, rising from $1.78 trillion in 2024 to $3.42 trillion in 2025. The number of trades executed grew 87%, from 120.2 million to 224.8 million. While Capital.com didn’t break out Q4 volume results, a quick look back at H1 2025 and Q3 2025 would indicate that Q4 2025 trading volumes at Capital.com topped a record $1 trillion.
ESMA warns perpetual futures likely to fall within scope of CFD intervention measures. As ESMA statement responds to the increased offering of derivatives, often marketed as perpetual futures or perpetual contracts, that provide leveraged exposure to underlying values, including crypto-assets such as Bitcoin. ESMA warns that these financial instruments are likely to fall within the scope of the existing national product intervention measures on CFDs adopted by national competent authorities.
Top FX industry executive moves this week
❑ Exclusive: Offshore CFDs broker Zarvista names Mohammed El Alaoui Essosse as CEO.
❑ ATFX sees departure of prop firm unit ATFunded CEO Josh Dentrinos.
❑ Blueberry hires Ghaith Alghatas as Head of Partners MENA.
❑ Exclusive: CMC Markets hires James McMaster to head ANZ marketing.
❑ Exclusive: Saxo Bank risk governance head Laura Berg Deleuran moves to Jyske Bank.
❑ Kalshi hires StanChart / LSEG alum Andy Ross as Head of Institutional.
❑ MarketAxess appoints William Quan as Chief Technology Officer.
