Recent developments in the retail Forex and trading sectors highlight significant movements and changes impacting the industry. One of the major stories this week involves the acquisition of NinjaTrader, a retail futures trading provider, for $1.5 billion by prominent crypto exchange Kraken. This acquisition positions Kraken as a leader in the US futures market, enhancing its capabilities in both traditional and crypto trading while setting the stage for the company’s expansion into equity trading and payment services.
Another notable transaction featured investor Viktor Prokopenya, who has sold the cryptocurrency exchange Currency.com to a group of investors represented by CXNEST Ltd. This sale concludes an extensive 18-month negotiation process and reflects ongoing shifts in the cryptocurrency landscape.
In other news within the retail trading sector, the neobroker Robinhood continues to expand its offerings by entering the sports betting arena. The company has introduced a “prediction markets” hub through its app, enabling users to engage in trading contracts related to significant upcoming events, such as the men’s and women’s NCAA Basketball Tournaments and forecasts for the federal funds rate.
Financially, Swissquote, a leading online banking and trading provider in Switzerland, has achieved record financial results for the year 2024. The company reported significant growth in revenue and net profit, alongside an impressive average monthly client trading volume of $118 billion in the second half of the year, slightly higher than the earlier half’s figure.
Similarly, Tiger Brokers, under UP Fintech Holdings, posted record quarterly revenues of over $100 million in Q4 2024, buoyed by substantial trading volumes amounting to $198 billion during the quarter. These results underscore the robust performance of online brokerage platforms in a competitive market.
The week also witnessed various executive movements across some key firms in the FX sector. Noteworthy appointments include Pavlina Charalampous joining Axi for sponsorship marketing and Gleb Kaplan coming on board as Head of Technology UK for EC Markets. Meanwhile, several executives announced their departures, such as Denis Kiselev from Spotware and Andrew Bole stepping down from his role at Trading 212.
Overall, the landscape of the retail Forex and trading industry is marked by significant acquisitions, new service offerings, and ongoing fluctuations in executive personnel, revealing a dynamic and rapidly evolving market.