FX week in evaluate: Spain CFD guidelines, Dukascopy revenues fall, XTB and Capital.com rent

What do Spain’s new strict guidelines governing the advertising of CFDs imply, for each brokers and merchants?

What totally different instructions do brokers Dukascopy and Commerce Nation appear to be taking?

Which new hires joined Capital.com, XTB, and Buying and selling Applied sciences?

Among the most learn and commented-on FX business information tales to look over the previous seven days on FNG included:


Spanish CFD Barbie-Purchasers and Elementary EU Rights. FNG Thought Management Editorial… Following Spanish regulator CNMV’s resolution to successfully ban CFD advertising, we’re happy to current the next FNG Thought Management Editorial courtesy of Remonda Kirketerp-Møller, Founder and CEO of Muinmos on what the brand new guidelines imply, for each brokers and merchants. For Remonda’s Spanish CFD Barbie-Purchasers and Elementary EU Rights editorial, learn on.

Unique: Dukascopy sees Revenues dip 22% in 1H 2023 to lowest stage in 10+ years. FNG Unique… FNG has discovered through regulatory filings made in Switzerland that Geneva and Riga based mostly Retail FX and CFDs dealer Dukascopy simply noticed (semi-annual) Revenues dip under the CHF 10 million mark for the primary time in additional than 10 years. By comparability, Dukascopy’s (a lot bigger) Switzerland based mostly rival Swissquote simply posted document best-ever Revenues, and near-record revenue, for a similar January-to-June 2023 interval.

Unique: Commerce Nation UK posts 42% rise in 2022 Revenues to £14.1M. FNG Unique… FNG has discovered through regulatory filings that FCA licensed FX, CFDs, and spreadbetting dealer Commerce Nation Monetary UK Ltd has seen a wholesome improve in each Revenues and Earnings in 2022, following what was a really disappointing and loss-producing 2021 at Commerce Nation. We might word, nevertheless, that the corporate nonetheless stays effectively under the tempo it was on in 2020, when Commerce Nation posted Revenues of £17.4 million and web revenue of £6.2 million.

Plus500 registers 28% Y/Y drop in revenues in H1 2023. On-line buying and selling firm Plus500 Ltd (LON:PLUS) at the moment posted its interim outcomes for the six month interval ended 30 June 2023. The outcomes confirmed enchancment in contrast with the previous six months. Nonetheless, the comparability with the year-ago interval was removed from rosy. Complete income in H1 2023 was $368.5m (H2 2022: $321.2m, H1 2022: $511.4m), comprising $346.2m in buying and selling revenue and $22.3m in curiosity revenue, which can be included in EBITDA for the interval, together with income of $160.6m in Q2 2023 (Q2 2022: $240.5m).

High FX business govt strikes reported at FNG this week included:

Michael Baker

Unique: Capital.com hires OvalX alum Michael Baker as Head of UK Premium Purchasers.

❑ XTB hires Hani Abuagla as Senior Market Analyst MENA.

Unique: BGC exec Gavin Miller joins Buying and selling Applied sciences as Director EMEA Gross sales.

❑ Cboe International Markets appoints Mandy Xu as VP and Head of Derivatives Market Intelligence.

❑ PayPal appoints Alex Chriss as President and CEO.