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  • Crypto.com Deepens Talent Grab from CFD Sector with Latest High-Profile Hire

    Crypto.com Deepens Talent Grab from CFD Sector with Latest High-Profile Hire

    In a move that underscores the shifting tides between traditional finance and digital asset platforms, Crypto.com has appointed Nicolò Pagliari as its new Global Vice President of Growth and Media. Pagliari, a seasoned executive with seven years at Saxo Bank, becomes the second major CFD industry veteran to join the Singapore-based crypto exchange in just two months.

    Pagliari’s departure from Saxo, where he most recently served as Head of Marketing for Asia-Pacific, marks a growing trend of talent migration from legacy brokers to crypto and proprietary trading firms. “It took one of those opportunities that you can’t say no to,” Pagliari shared in a LinkedIn post announcing his move.

    This latest hire follows Crypto.com’s recent onboarding of Kevin Algeo, former CEO of IG Group, as Senior Vice President of Capital Markets. The company also acquired Cyprus-based Allnew Investments Ltd to secure a MiFID license, signaling its intent to expand into regulated financial products including CFDs for forex and other markets.

    Pagliari’s transition is emblematic of a broader industry shift. As crypto platforms diversify their offerings and proprietary trading firms gain traction, traditional CFD brokers are facing mounting pressure. A recent FYI study revealed that 40% of brokers currently have vacant marketing leadership roles, highlighting the competitive squeeze for top-tier talent.

    Other notable moves include Michael Kamerman’s appointment as CEO of FTMO’s brokerage division and Riana Chaili’s new role as COO after stints at IC Markets and TechFinancials. Meanwhile, executives like Yassin Mismar, Zoltan Nemeth, and Andreas Andreou have also pivoted to prop firms and crypto ventures.

    Crypto.com’s aggressive hiring spree aligns with its push into conventional finance. The firm plans to launch CFD trading in Q3 2025, leveraging its newly acquired MiFID license. “His extensive experience in financial services and regulated markets will be instrumental in our mission to build a full-service and fully regulated suite of financial products,” said Eric Anziani, Crypto.com’s President and COO, referring to Algeo’s appointment.

    This strategy mirrors similar moves by competitors. Kraken has launched regulated derivatives trading under MiFID II, while Coinbase acquired Deribit to bolster its derivatives footprint.

    The migration of talent reflects deeper structural shifts. Crypto exchanges are acquiring regulated entities to fast-track licensing, while prop firms benefit from lighter regulatory frameworks. Traditional CFD brokers, meanwhile, grapple with tighter rules on leverage and marketing, making the crypto and prop sectors increasingly attractive for executives seeking growth and innovation.

    Pagliari will be based in Singapore, leading global user acquisition efforts for Crypto.com, which now boasts over 140 million users. His remit includes campaign development, media partnerships, and team leadership across international markets.

    As the executive exodus from traditional brokers continues, the battle for market dominance between legacy finance and digital disruptors is heating up—and Crypto.com is clearly playing to win.

  • Hans Buehler Steps Down as Co-CEO of XTX Markets

    Hans Buehler Steps Down as Co-CEO of XTX Markets

    In a notable leadership shift at one of the UK’s most profitable financial firms, Hans Buehler has officially resigned from his role as Co-Chief Executive Officer of XTX Markets. Buehler, who joined the electronic trading powerhouse in 2022 as Deputy CEO and was elevated to Co-CEO in 2023 alongside founder Alex Gerko, has also vacated his position on the board of XTX’s corporate entities.

    During his tenure, Buehler played a pivotal role in steering XTX’s growth trajectory, helping solidify its reputation as a leading market maker and proprietary trading firm. His departure marks the end of a chapter that saw XTX’s profitability soar, with Gerko now ranked among the UK’s wealthiest individuals and top taxpayers.

    Prior to his time at XTX, Buehler spent 14 years at JPMorgan in Hong Kong and London, where he held senior roles including Global Head of Equities Analytics, Automation, and Optimization. He also previously led equity derivatives quantitative research at Deutsche Bank.

    According to an XTX spokesperson, Buehler plans to return to academia, building on his previous experience as a Visiting Professor at the Technical University of Munich. He holds a PhD in Financial Mathematics from Technische Universität Berlin.

    His exit leaves Gerko as the sole CEO, with industry watchers keen to see how XTX navigates its next phase of innovation and expansion.

  • Markets.com Cyprus Appoints Andreas Kyriacou as New CEO Following Leadership Transition

    Markets.com Cyprus Appoints Andreas Kyriacou as New CEO Following Leadership Transition

    Markets.com Cyprus has announced the appointment of Andreas Kyriacou as its new Managing Director and CEO, succeeding Stavros Ch. Anastasiou, who recently stepped down from the role. Kyriacou will oversee operations exclusively for the Cyprus-based entity, Safecap Investments, which operates under the CySEC regulatory framework.

    Kyriacou brings over a decade of experience in financial services, with a strong background in financial reporting, regulatory compliance, tax planning, and risk management. Prior to joining Markets.com in December 2024, he held senior roles at FXGlobe and IronFX, and began his career at PwC Cyprus. He is a Chartered Accountant certified by the Institute of Chartered Accountants in England and Wales (ICAEW).

    His appointment comes amid broader changes at Markets.com, including the recent surrender of its FCA license in the UK, signaling a strategic pivot toward jurisdictions with more flexible regulatory environments. The company continues to operate under licenses in South Africa and St Vincent and the Grenadines, though leadership for those entities remains unconfirmed.

    Markets.com has also expanded its offerings in recent years, partnering with TradingView and Worldpay to enhance its trading platform and global payment capabilities.

  • ATFX Reinforces LATAM Strategy with Michael Mirarchi

    ATFX Reinforces LATAM Strategy with Michael Mirarchi

    In a strategic move to deepen its institutional presence in emerging markets, ATFX Connect has appointed Michael Mirarchi as Managing Director of Institutional Sales for Latin America. The announcement underscores the firm’s commitment to expanding its global footprint and delivering tailored solutions to professional clients across the region.

    Mirarchi brings over 15 years of experience in institutional sales, brokerage, and trading technology. His career began in New York, where he supported the early growth of margin FX trading and liquidity provision. He has since held senior roles at major financial institutions and helped launch regulated entities across the UK, EU, and Latin America. His expertise also spans digital asset infrastructure and Virtual Asset Service Provider (VASP) licensing, making him a key figure in bridging traditional finance with emerging technologies.

    In his new role, Mirarchi will spearhead efforts to expand ATFX Connect’s institutional coverage in Latin America, focusing on white-label brokerage offerings, digital asset trading, and the rollout of regional non-deliverable forwards (NDFs). He will also lead initiatives to strengthen the firm’s regulatory presence in the region.

    “Latin America’s online trading sector is evolving rapidly,” Mirarchi said. “We’re focused on delivering institutional-grade solutions that meet the unique needs of professional clients in this dynamic market.”

    Wei Qiang Zhang, Managing Director of ATFX Connect, added: “Michael’s appointment is a pivotal step in our long-term strategy. His deep understanding of the LATAM market and institutional expertise will accelerate our growth and enhance our service offering.”

    ATFX Connect, the institutional arm of the ATFX Group, continues to expand its reach by combining global infrastructure with local insight. The firm offers bespoke liquidity solutions across FX, indices, commodities, and precious metals, serving hedge funds, banks, asset managers, and other professional traders.

  • Markets.com Surrenders FCA License as CEO Steps Down Amid Strategic Shift

    Markets.com Surrenders FCA License as CEO Steps Down Amid Strategic Shift

    Online brokerage Markets.com has officially relinquished its license from the UK’s Financial Conduct Authority (FCA), marking a significant pivot in its regulatory and operational strategy. The move coincides with the departure of Chief Executive Officer Stavros Ch Anastasiou, who had led the firm since 2023.

    Anastasiou joined Markets.com from Safecap Investments Limited, where he served as Executive Director. His tenure at Markets.com was characterized by efforts to streamline operations and navigate evolving regulatory landscapes. The company has not yet announced a successor, and details surrounding its future leadership remain undisclosed.

    The decision to surrender the FCA license suggests a potential shift away from the UK market or a reconfiguration of the firm’s global compliance framework. Industry analysts speculate that Markets.com may be consolidating its regulatory footprint or redirecting resources toward jurisdictions with more flexible oversight.

    Finance Magnates, which first reported the development, noted that the company has yet to issue a formal statement regarding the rationale behind the license withdrawal or the CEO’s exit. The FCA has not commented on the matter.

    This development adds to a growing trend of brokers reassessing their regulatory affiliations amid tightening compliance requirements and shifting market dynamics. Observers will be watching closely to see how Markets.com repositions itself in the competitive online trading space.

    Markets.com is a global online brokerage offering CFD trading across forex, stocks, indices, commodities, and ETFs. Originally part of Playtech’s financial division, it now operates under the Finalto brand, which was acquired by Gopher Investments in 2022.

    The platform is known for its proprietary Marketsx interface, alongside support for MetaTrader 4 and 5, and integrates real-time sentiment tools, technical analysis, and fundamental data. It has held regulatory licenses in jurisdictions including Cyprus (CySEC), South Africa (FSCA), Australia (ASIC), and previously the UK (FCA), though it recently surrendered its FCA license amid strategic restructuring.

  • Monzo Fined £21 Million Over Financial Crime Control Failures

    Monzo Fined £21 Million Over Financial Crime Control Failures

    The UK’s Financial Conduct Authority (FCA) has issued a landmark £21.1 million fine against digital bank Monzo for critical lapses in its financial crime prevention systems during a period of rapid growth. The enforcement action highlights systemic failures across key operational areas between October 2018 and August 2020, as the bank surged from 600,000 to over 5.8 million customers.

    According to the FCA’s findings, Monzo allowed thousands of individuals to open accounts using blatantly implausible personal details — including fictitious addresses such as Buckingham Palace and 10 Downing Street. These oversights underscored serious weaknesses in the bank’s internal controls, which failed to scale alongside its meteoric rise in the UK’s fintech landscape.

    Despite being subject to a formal restriction from the FCA in August 2020, prohibiting the onboarding of high-risk customers, Monzo continued to allow more than 34,000 such accounts to be opened until June 2022. Regulators described this breach as a “fundamental failing” in Monzo’s anti-money laundering (AML) procedures and risk-based assessments.

    Therese Chambers, Joint Executive Director of Enforcement and Market Oversight at the FCA, remarked, “Banks must act as gatekeepers in the financial system. By failing to implement basic controls, Monzo jeopardized the integrity of the UK’s financial defences against crime. The acceptance of obviously false customer information reveals a shocking level of procedural neglect.”

    The FCA further noted that Monzo’s automated systems for monitoring suspicious activity were insufficiently staffed and misconfigured, resulting in customer alerts not being reviewed and multiple instances of high-risk behavior going undetected. Monzo also failed to provide adequate training to staff in AML protocols and neglected to verify customers against its own internal risk indicators.

    In response, Monzo has launched what it describes as a “comprehensive financial crime change programme,” aimed at reforming its internal practices. The bank claims it has significantly strengthened its fraud detection capabilities and client verification systems. TS Anil, Monzo’s Group CEO, acknowledged the FCA’s findings, stating: “These issues relate to a historical snapshot of our journey. We have taken substantial steps to improve and remain committed to staying ahead of emerging threats.”

    Originally pegged at £30.1 million, the fine was reduced after Monzo agreed to settle the matter early, avoiding a drawn-out legal battle. This case marks the tenth enforcement action by the FCA against UK banks for AML shortcomings since 2021 — a growing trend amid increased scrutiny of financial institutions in the digital age.

    As Monzo approaches the milestone of 13 million customers, the FCA’s ruling serves as a stern reminder to all fintech firms: innovation cannot come at the expense of vigilance, compliance, and ethical responsibility.

    Monzo has implemented a comprehensive financial crime change programme to overhaul its systems and address the deficiencies identified by the FCA.

    • Enhanced customer onboarding: Monzo redesigned its onboarding process to ensure more rigorous identity verification and plausibility checks (e.g. flagging landmark addresses like Buckingham Palace).
    • Improved risk assessment tools: The bank upgraded its internal risk matrix to better identify high-risk customers and apply appropriate due diligence.
    • Stronger transaction monitoring: Monzo reconfigured its automated alert systems and increased staffing to ensure suspicious activity is promptly reviewed and escalated.
    • Independent review: Monzo underwent a full external audit of its financial crime framework, as mandated by the FCA.
    • Lifted restrictions: After implementing the recommended changes, the FCA lifted its Voluntary Requirement (VREQ) in February 2025, allowing Monzo to resume onboarding high-risk customers under stricter controls.
    • Staff training: The bank introduced more robust AML training for employees, especially those handling alerts and investigations.
    • Policy updates: Monzo refined its procedures for identifying politically exposed persons (PEPs) and applied enhanced due diligence where necessary.
    • Data integrity checks: It now verifies customer addresses and other personal details more thoroughly, including cross-referencing postal codes and PO boxes.

    Monzo’s CEO, TS Anil, emphasized that these changes reflect lessons learned and a commitment to staying ahead of financial crime risks as the bank scales toward 13 million customers.

  • FXPrimus Unveils Synthetic Indices, Offering Traders a Headline-Free Market Experience

    FXPrimus Unveils Synthetic Indices, Offering Traders a Headline-Free Market Experience

    FXPrimus has launched a new suite of trading instruments known as Synthetic Indices, designed to operate independently of global news and economic events. This strategic move aims to attract technically focused and short-term traders seeking consistency in market behavior.

    The Synthetic Indices, now available on the MetaTrader 5 platform, simulate real market price movements using mathematical models and random number generators. Unlike traditional instruments, they are unaffected by central bank decisions, geopolitical tensions, or economic data releases.

    “Our goal is to empower traders with instruments that reward skill over speculation,” FXPrimus stated. “Synthetic Indices provide a focused space where the trader’s edge matters more than breaking news.”

    These indices offer 24/7 trading and are tailored for those who rely on pattern recognition and technical execution. The offering includes four distinct series, each engineered with specific volatility profiles to support both manual and automated strategies.

    The launch is part of FXPrimus’ broader platform expansion, which includes the introduction of PrimoConnect, a proprietary social trading network, alongside a redesigned website and updated client portal. The broker also announced plans to increase leverage up to 1:2000.

    FXPrimus emphasized that the Synthetic Indices are available to eligible clients under Primus Markets and represent an alternative to traditional markets for traders seeking uninterrupted price action.

  • Inside the XTB Hack: A Client’s $38,000 Loss Sparks Security Overhaul

    Inside the XTB Hack: A Client’s $38,000 Loss Sparks Security Overhaul

    In a chilling exposé that’s rattling the fintech corridors of Central Europe, Polish brokerage giant XTB finds itself at the center of a cybersecurity storm. A long-time client claims to have lost nearly 150,000 Polish zloty ($38,000) in what appears to be a calculated and highly technical account breach.

    The alleged victim, a five-year XTB user, took to social media over the weekend with a detailed account of how his portfolio—once valued at nearly 200,000 zloty—was systematically drained. The method? Hundreds of rapid-fire trades on obscure, low-liquidity assets, including nano-cap stocks like Spruce Power. The trades were executed in such a way that the victim’s account consistently lost money, while a suspected second account profited from the other side of each transaction.

    The client described the attack as a “programmed slaughter,” noting that even long-held securities and untouched ETFs were liquidated within minutes. Notably, the hacker didn’t attempt direct withdrawals—XTB restricts those to verified bank accounts—but instead exploited the trading mechanism itself.

    When the client reached out to XTB’s support, he claims he was met with indifference: “I get calls like yours all day, every day. Nothing can be done.” His formal complaints were reportedly dismissed twice, with the broker citing its terms of service that place password security squarely on the customer.

    The breach exposed a critical vulnerability: the client had not enabled two-factor authentication (2FA), a feature XTB introduced as optional in 2024. But the fallout was swift. Within hours of the viral post, XTB announced a sweeping security overhaul. Starting July 14, users will be able to activate Time-based One-Time Passwords (TOTP) via apps like Google Authenticator. By Q4 2025, 2FA will be mandatory for all new accounts.

    Adam Dubiel, XTB’s Chief Product & Technology Officer, stated: “Security of XTB client funds is our highest priority.” The firm is also launching a campaign to educate users on cybersecurity best practices.

    The scandal sent shockwaves through the Warsaw Stock Exchange, with XTB’s shares plunging over 6% on Monday before rebounding slightly the next day. Industry experts like Michał Masłowski of Poland’s Individual Investors Association stressed that 2FA should be non-negotiable: “Even small amounts require robust protection.”

    Mateusz Samołyk, a financial blogger who helped amplify the case, urged XTB to implement real-time monitoring of suspicious activity and location-based login alerts. He claims to have submitted these recommendations directly to the broker.

    The firm says it is investigating and encourages affected clients to use official complaint channels.

    As the fintech world grapples with rising cyber threats, this incident serves as a stark reminder: in the digital age, security isn’t optional—it’s survival.

    Founded in 2002, XTB has grown into a global fintech leader, offering trading in forex, commodities, indices, stocks, ETFs, and bonds across 13 countries. Headquartered in Warsaw, Poland, the firm serves over 1.36 million clients and employs more than 1,000 staff. It’s regulated by top-tier authorities including the FCA (UK), CySEC (Cyprus), and KNF (Poland). Listed on the Warsaw Stock Exchange since 2016, XTB reported PLN 1.87 billion ($445 million) in revenue for 2024.

    The company has built its reputation on proprietary technology like xStation, celebrity ambassadors including Zlatan Ibrahimović and José Mourinho, and a commitment to investor education and transparency.

  • PrimeXBT Supercharges Trading Conditions with Tighter Spreads and Higher Leverage

    PrimeXBT Supercharges Trading Conditions with Tighter Spreads and Higher Leverage

    In a bold move to reinforce its position as a trader-first brokerage, PrimeXBT has announced a comprehensive upgrade to its trading platforms—MetaTrader 5, PXTrader, and Crypto Futures. These enhancements aim to streamline trading execution, boost risk management capabilities, and reduce the cost of trading for clients worldwide.

    Gold Spreads Slashed to Increase Cost Efficiency

    One of the headline improvements is a substantial reduction in Gold (XAU/USD) spreads, which have been trimmed to as low as 20–25 points on MetaTrader 5 and PXTrader. Even during heightened market volatility, these tighter spreads make gold trading more viable for retail and professional traders alike, reducing slippage and boosting profitability.

    Leverage Uplift Across Key Asset Classes

    PrimeXBT has also overhauled its leverage offerings, giving traders more flexibility across both traditional and crypto instruments:

    • Bitcoin leverage raised to 200x, offering substantial upside potential for experienced traders with sound risk strategies.
    • Altcoins now tradable with leverage up to 150x, facilitating exposure to higher-risk, high-reward markets.
    • Enhanced leverage for Forex majors, indices, and precious metals, including Gold and Silver, allows tactical positioning with reduced margin requirements.

    This shift caters especially to short-term traders and scalpers, enabling them to extract more value from intraday price moves while maintaining risk controls through other platform features.

    PXTrader Stop-Out Level Halved

    In response to user feedback, PrimeXBT has reduced the stop-out level on PXTrader from 100% to 50%. This gives traders more breathing room during volatile swings, helping prevent early liquidation and allowing for potential recovery trades without immediate margin calls.

    Multi-Account Functionality for Strategic Segmentation

    The MT5 platform now supports multi-account setup, allowing users to manage distinct trading strategies across separate currency wallets. This modular approach simplifies accounting, enables risk compartmentalization, and offers greater transparency in performance tracking—especially useful for traders managing portfolios across asset classes or time frames.

    Advanced Risk Management on Crypto Futures

    Crypto Futures users will benefit from Bracketed Stop Loss and Take Profit orders in hedge mode, improving precision in trade exits. Additionally, the platform now displays estimated liquidation levels directly on price charts, equipping users with proactive insights into margin requirements and risk exposure.

    Global Reach Meets Institutional-Grade Tools

    With over 1 million registered users spanning 150+ countries, PrimeXBT continues to position itself at the intersection of traditional and digital finance. These platform enhancements reflect a growing trend among brokerages to deliver institutional-grade features tailored for the evolving needs of retail clients.

    The broker’s latest upgrades were reportedly driven by extensive client feedback and internal market research, emphasizing its commitment to listening, adapting, and innovating.

    For a detailed comparison of brokers, you can check ADVFN Broker Listing.

  • Tickmill Rebrands with Confidence: A Strategic Leap Forward

    Tickmill Rebrands with Confidence: A Strategic Leap Forward

    Global multi-asset broker Tickmill has officially launched a refreshed brand identity, signaling a confident evolution in its mission to empower traders worldwide. More than a visual update, this strategic uplift reflects Tickmill’s commitment to clarity, performance, and deeper engagement in an increasingly competitive trading landscape.

    Refining the Brand, Not Reinventing It

    Tickmill’s transformation is rooted in refinement—not reinvention. The company’s new identity builds on its strong foundation while sharpening its message and visual presence. At the heart of the redesign is a refined logotype paired with a green upward arrow, symbolizing growth, progress, and strategic direction. This bold visual cue reinforces Tickmill’s positioning as a broker built for traders seeking a dependable edge.

    “This uplift isn’t about changing who we are—it’s about elevating it,” said Kay Hook, Chief Marketing Officer at Tickmill. “We’ve created a clearer, more confident identity that reflects the value we deliver every day. It’s grounded in strategic thinking and brought to life by the creativity and commitment of our global team.”

    “In a World of Bulls and Bears – Be the Tiger”

    Tickmill’s new brand narrative introduces a powerful metaphor: the tiger. In markets dominated by bulls and bears, Tickmill encourages traders to adopt the tiger’s mindset—focused, agile, and fearless. This philosophy underscores the broker’s promise to deliver “an unfair advantage” to those bold enough to seize it.

    The tiger motif isn’t just symbolic—it’s strategic. In trading, as in nature, success often hinges on split-second decisions. Tickmill’s platform, tools, and support are designed to help traders act with precision and confidence.

    Built for Traders, Backed by Strategy

    Tickmill’s brand uplift is more than aesthetics. It’s a strategic move to better communicate its strengths:

    • Competitive trading conditions with tight spreads and fast execution.
    • Robust regulatory framework across multiple jurisdictions.
    • Advanced platforms including MetaTrader, TradingView, and Tickmill Trader.
    • Global reach with localized support and multilingual resources.

    The refreshed identity also aims to cut through the noise of a densely serviced market, offering traders a brand that performs—not just one that looks good.

    For a detailed comparison of brokers, you can check ADVFN Broker Listing.