Despite a holiday-shortened week following a period of intense trading activity driven by newly implemented US trade tariffs which affected market sentiment earlier in the month, several noteworthy developments and stories emerged in the Forex (FX) and Contract for Difference (CFD) sectors.
This week, we examine the increasing move of cryptocurrency firms like Kraken and Ripple into conventional finance and the effect they’re having on traditional CFD brokers.
We also report on the new regional management appointments for the Middle East and North Africa (MENA) at Scope Markets and IC Markets.
Also, how did Plum successfully raise £15 million in fresh funding?
Here’s a recap of some of the most read and discussed FX/CFD industry news from the past week on FNG:
Top FX and CFDs Industry News Highlights
Kraken Challenges Neobrokers with Stock Trading Platform. The convergence of cryptocurrency trading with established financial markets (Stocks, FX, and CFDs) is accelerating. Following its recent acquisition of NinjaTrader to enter the Futures market, crypto exchange Kraken is now expanding into stock trading. Find out where Kraken is launching its stock trading services.
Hidden Road Gains Full-Service Prime Broker Status with FINRA Approval. The distinction between the worlds of digital assets and conventional financial products continues to fade. Shortly after cryptocurrency exchange Kraken’s acquisition of futures trading platform NinjaTrader for $1.5 billion, Ripple acquired crypto prime broker Hidden Road for $1.25 billion, Hidden Road announced that Hidden Road Partners CIV US LLC has obtained regulatory approval from the US Financial Industry Regulatory Authority (FINRA) to operate as a broker-dealer.
StoneX Announces Acquisition of R.J. O’Brien. StoneX Group revealed its intent to acquire futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) for approximately $900 million. The transaction will involve a mix of cash and StoneX common stock. In addition, StoneX will assume up to $143 million in RJO debt.
Plum Lands £15 Million in Venture Debt from BBVA. Plum, a financial management app, announced a new £15 million debt financing agreement with Spanish financial institution BBVA, in light of its strong performance. This transaction signifies BBVA’s first venture debt investment within the UK market.
Hantec Markets Achieves Record Trading Volumes of $145 Billion per Month in Q1 2025. Hantec Markets, a retail FX and CFDs broker, reported its strongest financial quarter ever in Q1 2025. The company saw significant growth across various metrics, including trading volume, new account openings, and active users, driven by platform upgrades, international collaborations, and strategic investments.
Top FX Industry Executive Moves This Week
❑ Exclusive: IC Markets Appoints Former eToro Executive Jason Hughes to Lead Middle East Operations.
❑ Scope Markets Welcomes Samer Alkhaldi (formerly of HFM/Tickmill) as Regional Head of MENA.
❑ Katina Messinis Departs GCEX to Join Crypto Broker Rain.
❑ FP Markets Recruits Christoforos Panagiotou (formerly of Doo Prime) as Africa Regional Manager.
❑ LSEG Names Gianluca Biagini and Ron Lefferts as Co-Heads of Global Data & Analytics.