Forex and CFD brokers and fintech platforms have announced a series of deals, funding rounds and product changes. AvaTrade agreed to acquire most of FXCM, NAGA raised $8 million, XTB expanded overnight trading in U.S. stocks, and Nasdaq invested in One Trading. The industry is also weighing the effect of low volatility on broker revenue, a UK tax dispute and U.S. regulatory action on a new type of futures product.
AvaTrade agrees to buy most of FXCM as Trade Nation takes UK clients
AvaTrade has agreed to acquire most of FXCM’s business. The available information does not specify the assets involved, closing arrangements or expected completion date. FXCM’s UK operations are also changing: Trade Nation has acquired FXCM’s UK client business.
The transactions point to continued consolidation among retail trading platforms as firms reshape their customer bases and operations. Details on how clients will be transferred, whether products or services will change, and how the businesses will be run after closing have not been provided.
NAGA raises $8 million; Vest Labs secures $13 million
Trading platform NAGA has raised $8 million in new funding. The investors, valuation and intended use of the proceeds were not disclosed, leaving it unclear whether the capital will go toward product development, expansion or working capital.
Fintech company Vest Labs raised $13 million. The funding rounds came amid broader business changes across the brokerage sector, but specific terms for either raise were not provided.
XTB extends overnight U.S. stock trading; Nasdaq backs One Trading
XTB has expanded its overnight trading service for U.S. stocks, allowing clients to trade outside regular market hours. The company has not specified which stocks are covered, the trading hours or the conditions that apply. Extending access beyond the regular session also requires platforms to support the additional trading and customer-service hours.
Nasdaq has invested in One Trading, though the investment amount and ownership stake were not disclosed. Separately, Fortrade reported higher revenue, while Saxo said it had shortened its account-opening process. The announcements span investment, brokerage performance and onboarding, but do not include detailed figures for comparison.
Low volatility puts broker revenue in focus
Low market volatility is putting pressure on some brokers. CMC’s founder played down the effect of volatility on the business. For brokers that rely in part on client trading activity, shifts in volatility and trading volumes can affect revenue. No specific CMC revenue figures or quantified impact were provided.
Devexperts appointed a new chief executive, but the individual’s name and the effective date of the appointment were not specified. Crypto trading platform OKX reached a valuation of $25 billion; details of any associated funding or valuation transaction were not disclosed.
Trading 212 revenue rises 70%; CFTC advances perpetual index futures
Trading 212 reported 70% revenue growth, but did not specify the reporting period, revenue base or main drivers. The figure alone therefore does not show how the company’s profitability changed. UK fintech company Wise is seeking a tax settlement in the UK; the amount in dispute and the status of talks have not been disclosed.
The U.S. Commodity Futures Trading Commission (CFTC) took action to allow the launch of perpetual index futures. The product combines a perpetual-contract structure with index exposure, but the approved arrangements, applicable rules and trading venues remain unclear. Those details will determine the products’ permitted scope and operational requirements for market participants.