It was a wild, wild week in the online trading industry, beginning with the Trump Tariffs affecting the capital and FX markets and continuing with the sale of one of the oldest names in Retail FX, as well as the departure of a number of C-Suite level executives from long-held positions at various companies.
Who acquired Retail FX and CFDs broker OANDA?
How did Robinhood attempt to launch its first sports betting product? And, why did Robinhood pull it after less than 24 hours?
What senior management changes did we see at INFINOX, TradingView, HFM, Hantec, Exness, XM, Finalto, Trive, and others?
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
OANDA acquired by Czech prop firm FTMO. Private equity firm CVC Capital Partners has announced that it has entered into an agreement for the sale of Retail FX and CFDs broker OANDA Global Corporation to prop trading firm FTMO Group. We had reported in mid 2024 that CVC was putting OANDA up for sale, and had engaged investment bankers to find a buyer and help negotiate a sale of the company. CVC acquired OANDA in 2018, at a reported value of $175 million.
CFTC nixes Robinhood’s Super Bowl sports event contracts. US neobroker Robinhood (NASDAQ:HOOD) has announced that derivatives markets regulator CFTC has formally requested that its Robinhood Derivatives, LLC unit “not permit customers to access” sports event contracts. We had reported earlier this week that Robinhood was rolling out sports betting on this coming Sunday’s Super Bowl, via what it calls an event contract – allowing its clients to effectively make a binary bet on the outcome of an event, such as whether the Kansas City Chiefs or the Philadelphia Eagles will win the NFL championship game.
LCG rebrands as company continues to seek a buyer. UK online brokerage brand London Capital Group Ltd, better known in the industry and among traders as LCG, has announced that the company has undergone a rebranding, with a new look, logo, and website (still at lcg.com) that launched today. Under LCG’s new Introducer model, the company matches clients with industry-leading providers and provides ongoing support, from account opening to trade execution and dispute resolution.
NAGA Group sees improved results in first report post CAPEX.com merger. Social trading focused online broker NAGA has released its preliminary 2024 results, indicating improved profitability in its first financial report following last summer’s merger with CAPEX.com. For the financial year 2025, The NAGA Group expects a strong increase in EBITDA and net profit, driven by margin improvement through the further implementation of synergies, while returning to 2023 revenue levels.
Devexperts releases Futures trading platform for US brokers. Capital markets industry software provider Devexperts has announced that the company has launched a turnkey futures trading platform. Available immediately, the platform will enable brokers looking to expand into both futures and options on futures trading to allow the execution of these types of contracts via Devexperts’ technology. The platform can be deployed instantly out-of-the-box, or with full or in-part customization.
Top FX industry executive moves reported at FNG this week
❑ Jay Mawji steps down as CEO of INFINOX.
❑ TradingView GM Pierce Crosby steps down to launch M7.
❑ Hayel Abu-Hamdan joins HFM (HF Markets) as Chief Commercial Officer.
❑ Exclusive: XM hires Exness exec Shlomi Dubish as Creative Director.
❑ Paul Jackson joins Finalto as Joint Head of Sales.
❑ Exclusive: Exinity Connect exec Tatiana Kononovich departs.
❑ Exclusive: Trive hires Umut Ozturk as CIO.
❑ Exclusive: Thomas Kareklas joins broker CRM provider TeamForce as CSO.
❑ Crypto prime broker LTP hires Eric Wang as Head of Australia.
❑ RoboMarkets hires Match-Trade alum Mateusz Żelek as MD Poland.
❑ Exclusive: PU Prime hires MultiBank’s Corrado Grieco as Partnerships Manager.
❑ Former FXCM / MultiBank CMO Ross Soodoosingh to advise Swiset.
❑ Exclusive: Swissquote hires Caroline Schwab as Brand Manager.
❑ Exclusive: TMGM senior sales exec Eoh You Loong moves to Markets4you.
