FX week in review: LCG sold, iFOREX warning, Spotware CRM partner, Crypto.com EU CEO, Pepperstone CCO
Who are the new owners of FCA regulated CFDs broker London Capital Group, or LCG?
Why did iFOREX warn that performance was coming in much lower than expected in July and August?
With which broker CRM provider did cTrader developer Spotware Systems just ink a new partnership deal?
Which CFDs industry executive did Crypto.com turn to as CEO of its CySEC licensed, Cyprus based unit serving clients in the EU?
Who did Far East focused CFDs broker Mitrade name as the new CEO of its CySEC licensed EU unit?
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
LCG managers Dave Worsfold and Matt Basi buy control from FlowBank liquidators. The multi-year FlowBank bankruptcy saga is finally coming to a close. FNG has learned that Dave Worsfold and Matt Basi, who have managed FCA regulated CFDs broker London Capital Group (or LCG) for the past several years as a subsidiary of Swiss neobank / neobroker FlowBank, have acquired joint control of LCG from the bankruptcy estate of FlowBank.
iFOREX warns low market volatility eating into income. iFOREX Financial Trading Holdings Ltd (LON:IFRX) has provided an update on trading and the outlook for the 2026 financial year. Trading has been considerably weaker than anticipated, with August to date being unusually subdued, with very low trading income against a backdrop of generally low market volatility.
STARPRIME completes Beta testing of Market-Maker Model for Retail Brokers. The Market-Maker Model developed by institutional liquidity solutions provider STARPRIME has completed an extensive beta-testing phase, working with a select number of clients. The term ‘market maker’ carries a stigma of being a bad actor in our industry. That reputation has identifiable origins, and some of it has been earned. What follows is how a properly governed market-making arrangement differs, and where it can materially improve outcomes for retail brokers.
Taurex Prime revenues jump nearly 3x in 2025 to £5.6M on institutional liquidity growth. Zenfinex Technologies Ltd, parent company of FCA licensed Taurex Ltd which operates the Taurex Prime institutional liquidity and broker technology solutions brand, has reported its financial results for 2025 indicating a very strong year of growth. Revenues at Zenfinex / Taurex Prime rose by 188%, from £1.95 million in 2024 to £5.62 million in 2025. The company turned a 2024 loss of £1.7 million into a modest net profit of £149K in 2025.
Spotware partners with Intivion to deliver an all-in-one CRM for brokers. Leading financial technology provider Spotware Systems has announced that it has entered into a partnership with Intivion, the fintech company behind AltimaCRM. The partnership covers three products across different areas of a broker’s technology stack: AltimaCRM for client management operations, cTrader for trading and cBridge for liquidity connectivity and execution.
Top FX industry executive moves this week
❑ Exclusive: Stelios Moyseos replaces Michael Floros as General Manager of Crypto.com Cyprus.
❑ Exclusive: Pepperstone CCO (and ex COO) Rob Bowen departs.
❑ Exclusive: CFI hires ATFX exec Francois du Plessis, replacing Zihaad Israfil as South Africa CEO.
❑ Exclusive: OneRoyal CCO Dominic Poynter departs.
❑ Scope Prime adds Glen Hastings (INFINOX) and Freddie Price (GS Securities) to sales/bizdev teams.
❑ Mitrade names Timur Konsky EU CEO.
❑ Exclusive: Traze hires CFI exec Rawan Hosheah as VP BizDev.
❑ Lord Stanley Fink named Chairman of Britannia Global Markets.
