FX week in review: next CFDs broker IPO, new ASIC license, trading app Verified badge, vladtenev.com suit, Prediction Markets bill
After successful IPOs by eToro and iFOREX over the past year, which is the next CFDs broker planning to “go public”?
Which CFDs broker got a (rare) new ASIC license?
Which national financial regulator is partnering with Google to give out “Verified” badges for trading apps on the Google Play Store?
What lawsuit has been filed around the use of website vladtenev.com?
What executive moves were seen at eToro, Afterprime, Taurex, CMC Markets, and XS.com, among 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
CFDs broker BlackBull hires bankers for IPO. The Australian Financial Review is reporting that New Zealand based Retail FX and CFDs broker BlackBull Markets is planning to go public. The most recent IPO in the CFDs brokerage sector was that of iFOREX, which went public in London earlier this year. iFOREX is similarly sized to BlackBull, with pre-IPO last-12-months Revenue of $49 million.
Exclusive: Spec Capital gets ASIC wholesale license. FNG Exclusive… FNG has learned that Australia based CFDs brokerage operator Spec Capital Group has received an ASIC license for Spec Capital Group Pty Ltd. The license allows Spec Capital (at website speccapitalgroup.com) to offer services to wholesale clients. Spec Capital was established in 2025 by former IC Markets director and CFO Lucy Lu, based in Australia, who serves as General Manager.
India regulator SEBI launches Verified Label for trading apps on Google Play Store. Indian financial regulator Securities and Exchange Board of India (SEBI) has announced what it calls an important investor protection measure, in the form of a new Verified Label for stock trading apps of brokers registered with SEBI, on Google Play Store.
Robinhood sues owners of VLADTENEV.COM. Robinhood Markets and its founder Vladimir Tenev have taken to Court the owners of VLADTENEV.COM. Mr. Tenev and Robinhood seek to stop the ongoing infringement of Mr. Tenev’s trademark, name, and likeness, which he has used extensively in his personal capacity, and which Robinhood has used extensively to promote its business. Mr. Tenev is the owner of common law trademark rights in his name VLAD TENEV, which is central to the action.
MAS Markets (formerly BidX) sees Revenues up 92% in 2025 to £6.1M. FCA regulated multi-asset liquidity solutions provider MAS Markets has followed up a doubling of its Revenue base in 2024 with an (almost) equally good year in FY 2025. MAS Markets was rebranded from BidX Markets in 2024. The company was founded in 2021 by CEO Simon Blackledge, who continues to hold a controlling interest in the company.
Bipartisan Senate bill looks to ban sports related Prediction Markets. There aren’t too many things done in a bipartisan way these days in Washington. But Prediction Markets regulation seems to be one of them. A bill introduced Monday to the US Senate called the Prediction Markets Are Gambling Act effectively was designed to prohibit any prediction contract that resembles a sports bet, or casino-style game.
Top FX industry executive moves this week
❑ Exclusive: Afterprime back office head Jelena Dubackic joins eToro.
❑ FTMO founders to become OANDA co-CEOs.
❑ Exclusive: Andrew Mreana joins payment solutions co VIP360 as Head of Commercial Growth.
❑ Exclusive: Taurex hires Axi alum Robbie Ensor as Finance Director.
❑ CMC Markets appoints Emma Earp as Non-Exec Director.
❑ Kraken hires Binance exec Lorenzo Capone to lead Italy and Southern Europe growth.
❑ Exclusive: XS.com hires XM exec Rakhi Raje to head Influencer Marketing.
