Libertex became the second CFDs broker, after NAGA, to roll out a Telegram mini app.
IG Group Q1 revenue drops as trading slows
Another week, another set of headlines driving the markets. IG Group reported net trading revenue of £231.9 million in the first quarter of its 2026 fiscal year, a 4% decline from the same period last year.
The London-listed broker said total revenue fell 7% to £259.9 million despite a 3% increase in average monthly active customers, pointing to “less supportive market conditions” that weighed on client activity across its global base. Net interest income also dropped 24% to £28.0 million.
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At the same time, the group posted £0.3 million in revenue from spot cryptocurrency trading between June and August. The London-listed broker launched the service in the UK and Ireland last June through a partnership with Uphold.
Swissquote’s UK arm posts 48% revenue fall
More losses came from Swissquote Ltd, the UK subsidiary of Swissquote Group, which registered a loss of £1.16 million for 2024, more than triple the £354,000 loss it recorded a year earlier. Trading volumes dropped 53% year-on-year, while net turnover fell 48% to £419,000.
The company also reported higher administrative expenses, which rose 18% to £1.94 million, partly due to employee share and option awards. Staff numbers declined to nine from 11 the previous year.
Swissquote Ltd (UK Subsidiary) Key Metrics
Equiti Capital UK profit down 52%
Still in the UK, Equiti Capital UK Limited reported a 52% drop in annual profit this week, as rising operating costs offset modest revenue growth.
The firm posted a profit of $530,000 for the previous year, down from $1.1 million in 2023. Net trading revenue rose 4% to $32.2 million, supported by higher trading volumes and expanded product offerings.
EC Markets CEO says tokenisation likely to appeal mainly to funds
Meanwhile, Matthew Smith, the CEO of EC Markets, expressed caution about jumping into industry trends such as prop trading and tokenized assets, describing them as largely marketing-driven and more suited to institutional investors than retail users.
He noted that the UK market for contracts for differences (CFDs) is “desaturated” following Brexit, with few European brokers seeking FCA approval. He also highlighted the prohibitive nature of local regulations as a key barrier for new entrants.
NAGA to launch super app
Brokers are exploring ways to expand their offerings. NAGA Group launched its next-generation financial platform, NAGA ONE, entering the growing market of “super apps” that integrate banking, trading, and payment services.
The Hamburg-based company said the platform will be available for download in the fourth quarter and is designed to consolidate payments, investing, and trading functions. The rollout initially emphasizes payment features from NAGA’s existing NAGA Pay service, which is being discontinued.
Libertex launches Telegram mini app
And on Telegram, Libertex Group became the second CFDs broker to launch a fully functional platform, following NAGA. The app enables users to register, log in, manage accounts, and execute trades entirely within Telegram.
The move taps into Telegram’s roughly 450 million daily active users, a platform known for end-to-end encryption and wide global reach. India is estimated to be its largest market, followed by Russia, Indonesia, and the United States, highlighting the app’s potential to reach a broad audience.
Forex.com launches 24/7 crypto CFDs
Besides expanding offerings across different platforms, brokers are also seeking to extend timeframes. FOREX.com launched 24/7 cryptocurrency CFD trading this week, enabling clients to trade digital assets over the weekend as part of the UAE’s wider digital finance initiatives.
The StoneX Group subsidiary now keeps crypto CFD markets open from Saturday 8:00 a.m. UTC to Friday 9:00 p.m. UTC, removing the traditional weekend trading gap.
Bybit launches 24/5 stock CFD trading
Even crypto exchanges are seeing an opportunity. Bybit launched 24/5 stock CFD trading on its TradFi platform, allowing users to trade selected equities throughout the weekdays without being limited by U.S. market hours.
The initial rollout includes 20 stock CFDs, all available under the extended trading schedule. The company confirmed that existing positions are unaffected and that current trading and swap fees will remain unchanged.
Trump targets quarterly reporting
Trump’s sweeping changes entered the financial space, now targeting quarterly reporting in U.S. financial markets. He recently suggested that companies switch to biannual filings, a move that may actually have merit.
Is it a good idea? Reducing the compliance burden on treasury and finance teams would also free up resources to improve corporate balance sheets. Advocates argue that reporting every six months could foster longer-term thinking. The flip side is reduced scrutiny.
119 brokerages registered in Mwali last year
By the end of 2024, the Mwali International Services Authority had 258 firms on its registry, with 119 brokerage platforms gaining authorization over the past year. Among them are well-known CFD brands such as RoboForex, Alpari, and HF Markets. RoboForex runs its offshore operations under its Belize entity but secured a Comoros license just weeks before the end of 2024.
Alpari, which obtained its Comoros licence in April 2023, now operates solely under it. Other notable brands that received Mwali authorizations in 2023 include Octa Markets, AMarkets, BDSwiss, and TIO Markets.
CFTC to allow stablecoins as derivatives collateral
In matters of crypto regulations, the Commodity Futures Trading Commission will allow tokenized collateral, including stablecoins, in derivatives markets, Acting Chair Caroline Pham announced this week
The move is part of the CFTC’s broader “crypto sprint” to implement recommendations from the Working Group on Digital Asset Markets. It follows the US Congress’s approval of the Genius Act, which establishes a framework for defining and regulating stablecoin issuers.
Aussie regulators propose full crypto licensing
Elsewhere, Australia is moving to tighten oversight of its crypto sector by bringing exchanges and custody providers under the same regulatory framework as traditional financial institutions. A new draft law proposes that all digital asset operators obtain an Australian Financial Services License.
Currently, only platforms dealing with major cryptocurrencies like Bitcoin are registered with AUSTRAC. If passed, the legislation would require formal authorization for all crypto operators.
Tether eyes $500 billion valuation
In stablecoins, Tether, the issuer of the world’s largest stablecoin, is reportedly looking to raise $15-20 billion in fresh capital while targeting a valuation of around $500 billion, according to Bloomberg. The proposed stake represents roughly 3% of the company, highlighting the scale of the fundraising.
The move has drawn market skepticism, reflecting broader doubts about the crypto sector’s lofty valuations and the recurring “confidence game” that underpins investor enthusiasm in digital assets.
Snap shares jump following Snap OS 2.0 launch
Outside the industry, Snap Inc. (NYSE: SNAP), the parent company of Snapchat, saw its stock jump 5.63% to close at $8.44, with trading volume hitting 186.9 million shares, well above its three-month average of 59 million.
The surge followed the company’s announcement of Snap OS 2.0 and plans to launch consumer-ready Spectacles in 2026, signaling its push into augmented reality, browser tools, and native WebXR. Investors are betting these moves could significantly impact the social media landscape and Snap’s market value.
