Is competition in the prop trading space heating up? Prop trading firm Propel Capital shut down just 14 months after its launch, saying competition in the industry had made operations unsustainable. The firms website also went offline following the announcement.

Founder and CEO Mitchell Ali said in a post on X that the decision came after months of mounting pressure as rival prop firms cut prices and loosened trading rules to lure clients.

Libertex Group unveils new offshore CFD broker

As the prop industry struggles, the CFD space is thriving. Libertex Group launched a new offshore contract for differences (CFDs) broker brand, LBX, which also signed a sponsorship deal with the KICK Sauber Formula 1 team.

The brand is operated by MAEX LIMITED, a company registered and regulated in Mauritius. The LBX website went live in four languagesEnglish, Thai, Vietnamese, and Spanishand outlined tailored benefits for Latin America.

Plus500 establishes Colombia office

At the same time, Plus500 has announced the opening of its first representative office in Colombia. The move came after the company secured authorization from the Colombian Financial Superintendence (SFC).

Additionally, the company is pursuing a local license in Chile, where it had already set up a local entity last year.

MultiBank Group eyes Abu Dhabi

In the Middle East, MultiBank Group plans to open a new office in Abu Dhabi. The move positioned the company in the capital of the United Arab Emirates.

According to this weeks announcement, the Abu Dhabi office was set up to serve both retail and institutional customers.

XS.com gains new Mauritius license

Also expanding, XS.com strengthened its offshore presence by obtaining a license from the regulator in Mauritius, which the contracts for differences (CFDs) broker described as a strategic move.

In this weeks announcement, the broker emphasized that the license from the Financial Services Commission would enable it to better serve its global client base.

Ghana to regulate forex trading

In the African market, Ghanas Securities and Exchange Commission began working on a regulatory framework for the country's forex trading.

According to local media reports, the SECs Acting Deputy Director-General, Mensah Thompson, confirmed during an engagement with the Ghana Journalists Association that the process of developing the framework was already underway.

eToro offers 4.3% on idle cash

eToro announced this week that it will begin paying up to 4.3% annual interest on cash held in customer trading accounts. The initiative is designed to ensure client funds generate returns even when they are not actively deployed in trades.

With the move, the Israeli fintech joins other retail brokers that have rolled out similar interest-paying features over the past two years, including Interactive Brokers and XTB.

Week in numbers: Dukascopy Bank, Fortrade

Dukascopy Bank, a Geneva-based Swiss bank that provides online trading services including forex and CFDs, has released its interim financial results for the six months ending June 30, 2025, reporting a significant improvement in profitability compared with the same period in 2024.

Fortrade Limited, a UK-based financial services firm focused on contracts for difference trading, reported stronger results for 2024 as higher client activity boosted profitability. The London-headquartered broker posted an operating profit of �1.34 million, a 37% increase from �921,000 in 2023.

Fortrade Limited:

Metric

2024

2023

Change

Revenue

�21.2M

�19.8M

+7%

Operating Profit

�1.34M

�921K

+45%

Gross Profit

�5.41M

�4.42M

+22%

Net Assets

�13.9M

�12.6M

+11%

Cash Holdings

�6.4M

�3.0M

+116%

Employees

43

24

+79%

Interest Income

�161K

�80K

+100%

Administrative Expenses

�4.07M

�3.50M

+16%

Prime brokerage, FX fix woes, and tech risks

Prime brokerage has experienced sharp fluctuations since the global financial crisis, with European banks taking nearly a decade to regain the confidence to commit substantial resources to the business despite heightened regulatory oversight.

Bloomberg now projects that prime brokerage revenues will hit record levels in 2025. Morgan Stanley highlighted robust results in prime brokerage in its second-quarter equity update, while Citigroups CFO pointed to record prime brokerage balances.

Payment delays hit 40% of UK crypto investors

In the crypto space, IG research shows that 40% of UK cryptocurrency investors have experienced blocked or delayed payments when attempting to purchase digital assets, pointing to regulatory gaps that enable banks to restrict access.

The findings are drawn from a survey of 2,000 UK adults and 500 crypto investors conducted with research agency Norstat. In the United States, regulators have been directed to examine alleged cases of debanking, including incidents involving crypto companies.

Kraken acquires Capitalise.ai

Still with crypto, Kraken has acquired Capitalise.ai, an Israel-based developer of no-code trading automation tools, as it looks to make advanced strategy design and execution accessible to a broader range of traders.

The deal will see Capitalise.ais technology integrated into Kraken Pro, with a phased rollout planned later this year.

ChatGPT 5 missteps, 6 tries again

Lastly, OpenAI rolled out ChatGPT 5 in early August 2025, presenting it as a major leap forward in artificial intelligence, with improved reasoning and creativity that the company likened to having a PhD-level collaborator.

Now, CEO Sam Altman is shifting attention to ChatGPT 6, hinting at new memory magic features that could address some of the shortcomings of its predecessor.

Is competition in the prop trading space heating up? Prop trading firm Propel Capital shut down just 14 months after its launch, saying competition in the industry had made operations unsustainable. The firms website also went offline following the announcement.

Founder and CEO Mitchell Ali said in a post on X that the decision came after months of mounting pressure as rival prop firms cut prices and loosened trading rules to lure clients.

Libertex Group unveils new offshore CFD broker

As the prop industry struggles, the CFD space is thriving. Libertex Group launched a new offshore contract for differences (CFDs) broker brand, LBX, which also signed a sponsorship deal with the KICK Sauber Formula 1 team.

The brand is operated by MAEX LIMITED, a company registered and regulated in Mauritius. The LBX website went live in four languagesEnglish, Thai, Vietnamese, and Spanishand outlined tailored benefits for Latin America.

Plus500 establishes Colombia office

At the same time, Plus500 has announced the opening of its first representative office in Colombia. The move came after the company secured authorization from the Colombian Financial Superintendence (SFC).

Additionally, the company is pursuing a local license in Chile, where it had already set up a local entity last year.

MultiBank Group eyes Abu Dhabi

In the Middle East, MultiBank Group plans to open a new office in Abu Dhabi. The move positioned the company in the capital of the United Arab Emirates.

According to this weeks announcement, the Abu Dhabi office was set up to serve both retail and institutional customers.

XS.com gains new Mauritius license

Also expanding, XS.com strengthened its offshore presence by obtaining a license from the regulator in Mauritius, which the contracts for differences (CFDs) broker described as a strategic move.

In this weeks announcement, the broker emphasized that the license from the Financial Services Commission would enable it to better serve its global client base.

Ghana to regulate forex trading

In the African market, Ghanas Securities and Exchange Commission began working on a regulatory framework for the country's forex trading.

According to local media reports, the SECs Acting Deputy Director-General, Mensah Thompson, confirmed during an engagement with the Ghana Journalists Association that the process of developing the framework was already underway.

eToro offers 4.3% on idle cash

eToro announced this week that it will begin paying up to 4.3% annual interest on cash held in customer trading accounts. The initiative is designed to ensure client funds generate returns even when they are not actively deployed in trades.

With the move, the Israeli fintech joins other retail brokers that have rolled out similar interest-paying features over the past two years, including Interactive Brokers and XTB.

Week in numbers: Dukascopy Bank, Fortrade

Dukascopy Bank, a Geneva-based Swiss bank that provides online trading services including forex and CFDs, has released its interim financial results for the six months ending June 30, 2025, reporting a significant improvement in profitability compared with the same period in 2024.

Fortrade Limited, a UK-based financial services firm focused on contracts for difference trading, reported stronger results for 2024 as higher client activity boosted profitability. The London-headquartered broker posted an operating profit of �1.34 million, a 37% increase from �921,000 in 2023.

Fortrade Limited:

Metric

2024

2023

Change

Revenue

�21.2M

�19.8M

+7%

Operating Profit

�1.34M

�921K

+45%

Gross Profit

�5.41M

�4.42M

+22%

Net Assets

�13.9M

�12.6M

+11%

Cash Holdings

�6.4M

�3.0M

+116%

Employees

43

24

+79%

Interest Income

�161K

�80K

+100%

Administrative Expenses

�4.07M

�3.50M

+16%

Prime brokerage, FX fix woes, and tech risks

Prime brokerage has experienced sharp fluctuations since the global financial crisis, with European banks taking nearly a decade to regain the confidence to commit substantial resources to the business despite heightened regulatory oversight.

Bloomberg now projects that prime brokerage revenues will hit record levels in 2025. Morgan Stanley highlighted robust results in prime brokerage in its second-quarter equity update, while Citigroups CFO pointed to record prime brokerage balances.

Payment delays hit 40% of UK crypto investors

In the crypto space, IG research shows that 40% of UK cryptocurrency investors have experienced blocked or delayed payments when attempting to purchase digital assets, pointing to regulatory gaps that enable banks to restrict access.

The findings are drawn from a survey of 2,000 UK adults and 500 crypto investors conducted with research agency Norstat. In the United States, regulators have been directed to examine alleged cases of debanking, including incidents involving crypto companies.

Kraken acquires Capitalise.ai

Still with crypto, Kraken has acquired Capitalise.ai, an Israel-based developer of no-code trading automation tools, as it looks to make advanced strategy design and execution accessible to a broader range of traders.

The deal will see Capitalise.ais technology integrated into Kraken Pro, with a phased rollout planned later this year.

ChatGPT 5 missteps, 6 tries again

Lastly, OpenAI rolled out ChatGPT 5 in early August 2025, presenting it as a major leap forward in artificial intelligence, with improved reasoning and creativity that the company likened to having a PhD-level collaborator.

Now, CEO Sam Altman is shifting attention to ChatGPT 6, hinting at new memory magic features that could address some of the shortcomings of its predecessor.