This week, significant developments in the Forex and CFDs industry have been highlighted, including leadership changes at multiple brokers and B2B providers within the sector. Key transitions involved the top executive roles at Your Bourse and Neomarkets. Additionally, the release of second-quarter financial results from several firms, including Robinhood and XTB, offered valuable insights into the performance trends of online brokers, revealing which platforms are thriving and where challenges lie.
A notable event was the closure of ProsperUs’s CFDs unit in Singapore, attributed to a restructuring initiative by its parent company, China Galaxy Securities, alongside its main subsidiary, CGS International. This consolidation highlights the ongoing shifts within the industry and the pressures firms are facing to streamline operations.
Another development was the successful launch of LoopFX, a liquidity network based in London focusing on institutional peer-to-peer FX spot trading. The platform commenced trading operations by matching client transactions on State Street’s FX Connect, a leading execution platform in the market. Notable clients such as Schroders and RBC Capital Markets have already signed on, indicating strong initial interest and potential growth for LoopFX.
The broker Aetos also made headlines with its decision to give up its FCA license, refocusing its efforts more towards the Australian market and offshore operations. The UK subsidiary had not seen substantial activity, leading to a decline in business performance, with revenues reported at just £479K in 2024.
In sponsorship moves, iFOREX has signed an agreement to become the official back-of-shirt sponsor of Ferencvárosi TC, a major Hungarian football club. This partnership marks a notable marketing strategy for the broker, aiming to increase visibility and brand recognition.
This period also saw the performance results from various online brokerage firms, revealing distinct patterns in financial outcomes:
– XTB reported stable revenues of $155 million with an 11% rise in profits to $58 million for Q2 2025.
– Robinhood experienced a 7% increase in revenues to $989 million and a 15% rise in profits to $386 million, indicating a recovery in its business performance post-quality improvements.
– CFI achieved a record $1.51 trillion in client trading volumes for the same quarter, showcasing robust trading activity.
Additionally, there were several notable executive movements within the industry:
– Elina Pedersen stepped into the CEO role at Your Bourse following Andrey Vedikhin’s departure.
– Omar Khaled was appointed as Chief Marketing Officer at CFI.
– Dan Squires from Saxo UK’s team transitioned to the role of Chief Commercial Officer at ADSS in Abu Dhabi.
– Anton Sokolov and Stanislav Galandzovskyi, leaders in marketing and user acquisition respectively, are stepping away from their positions at Brokeree and NAGA Group.
– Dominique El Khoury left SquaredFinancial for a CEO position at Neomarkets.
– Lukas Enzersdorfer-Konrad replaced Paul Klanschek as Co-CEO of Bitpanda.
– Mohanad Yakout was hired by Scope Markets as a Senior Market Analyst for MENA.
– Camila Pinto, a veteran from StoneX, joined FYNXT as the Commercial Director for both the UK and Latin American regions.
These changes and announcements from the week highlight the dynamic nature of the Forex and CFDs industry, where adaptability and strategic pivots are crucial for success amidst evolving market conditions and competitive landscapes.