Dubai’s regional security deteriorated as Iran fired waves of ballistic missiles and drones toward the United Arab Emirates. The UAE
Ministry of Defense reporting that its air defense systems have intercepted the
majority of these projectiles.
The region has rapidly evolved into a major base for CFD
brokers, trading firms, and crypto exchanges, drawn by Dubai International
Financial Centre and Virtual Assets Regulatory Authority licences, zero
corporate tax, and fast company setup processes.
Major players including IG Group, CMC Markets, Pepperstone,
Saxo Bank, Plus500, Capital.com, and CFI have clustered their offices in and
around the city’s downtown financial district.
Iran crypto volumes crash 80%
Amid the conflict, crypto was not spared either. Iranian platforms saw transaction volumes drop sharply as authorities imposed strict internet
restrictions and exchanges focused on protecting their operations.
Internet connectivity reportedly fell by about 99%, making
it extremely difficult for users to access trading platforms. The situation
also exposed how reliant the local ecosystem is on a few centralized physical
infrastructure providers, which became single points of failure when outages
hit.
Amid the escalating conflict in Iran, many citizens are turning to Bitcoin as a financial lifeline.
Reports and on-chain data shows increased buying activity followed by large withdrawals from local exchanges into self-custody wallets.
BITCOIN IS FREEDOM FOR 🇮🇷 pic.twitter.com/BysoXM1Bgt
— Satoxis (@satoxis) March 3, 2026
TRM Labs found that Iran’s largest exchange, Nobitex,
processed about $3 million more in combined inflows and outflows around the
time of the strikes, but this activity stayed within its normal historical
range.
FundedNext pays $15M to 8,000+ traders
Away from missiles, prop trading firm FundedNext reported that it paid out $15.19 million to 8,340 traders in February. The company introduced this
disclosure as part of a new monthly payout report series, which it plans to
publish regularly to share performance and transparency updates.
Source: FundedNext
According to FundedNext, the February payouts covered 13,712
transactions across 10,346 funded accounts, noting that some traders manage
multiple accounts. Since its launch, the firm claims to have distributed more
than $271.4 million through over 205,000 transactions, although these figures
have not been independently verified.
Oil trader numbers soar on Capital.com
While tensions weigh on global sentiment, oil and gold are attracting heightened investor attention. Data from Capital.com showed oil
trading volumes surged 649% on Monday, while the number of active oil traders
jumped 276% in a single day.
Overall, the platform recorded a 49% increase in active
traders from the previous Friday, with total volumes up 73% and executed trades
climbing 82%. Oil became the second most-traded instrument on the platform,
surpassing several major currency and index markets.
Gold also attracted strong inflows, with trading volumes
rising 103% overnight as investors sought safe-haven assets.
Crypto trading gains ground while CFTC oversight
In the crypto space, CFTC is preparing to approve crypto perpetual futures trading, marking another step in the country’s push to expand digital asset
markets. The move comes even as the agency cuts back on its enforcement staff,
raising questions about how effectively regulators can oversee the growing
crypto sector.
Despite this enthusiasm, the CFTC ’s shrinking enforcement
capacity has sparked concern among investors and industry watchers. While the
regulator works closely with the Securities and Exchange Commission on
broader digital asset policies, the timing of staff reductions suggests a
possible imbalance between market expansion and oversight.
Kraken joins Fed payment network
As the regulations soften, Kraken became the first digital asset company to gain direct access to the core of the U.S. financial system, a
Federal Reserve master account. This approval could transform how crypto
platforms handle U.S. dollar transactions, reducing reliance on partner banks
and making payments faster and more resilient to disruptions in banking
relationships.
A Fed master account serves as the main entry point to the
central bank’s payment infrastructure. It allows eligible institutions to hold
reserves and send or receive funds directly through systems like Fedwire,
without using intermediaries. For crypto companies, that means more direct and
secure movement of money within the financial system.
J. Safra Sarasin completes Saxo Bank takeover
Also, this week, J. Safra Sarasin Group completed its acquisition of a 71% stake in Saxo Bank, concluding a months-long regulatory approval process. The deal, valued at about €1.1 billion when announced in March 2025, gives the Swiss family-owned banking group control of the Danish online broker, one of Europe’s prominent retail trading platforms.
The purchase transfers shares previously held by Geely Financials Denmark, Mandatum Group, and smaller investors. Saxo Bank founder Kim Fournais, who launched the firm in 1992 and built it into a fintech bank serving over 1.7 million clients, keeps his 28% stake. He has stepped down as CEO and will now serve as Chairman of the Board.
OANDA shifts prop traders to FTMO
In the prop space, OANDA has announced that its proprietary
trading arm, OANDA Prop Trader, will transition to the FTMO Group. The change
follows FTMO’s acquisition of OANDA last year, marking a strategic shift in
operations as the two firms consolidate their strengths in the trading
industry.
Founded in 1996, OANDA has built a strong global presence in
retail and corporate trading, operating across major financial hubs such as New
York, London, and Tokyo. With the transfer, FTMO will take over OANDA Prop
Trader’s clients and provide them with a more specialized trading environment.
Pepperstone’s owners ordered to pay AU$97M
Pepperstone’s majority shareholder, FX Group Holdings, which
owns 60% of the CFDs broker and counts company Chair Fiona Lock among its
members, has been ordered to pay AU$96.9 million plus interest to Champ Private Equity. The payment follows a lengthy legal dispute over FX Group’s 2018
acquisition of Champ’s majority stake in Pepperstone.
FX Group includes Pepperstone CEO Tamas Szabo and former
director Andrew Defina as shareholders. According to court documents, the group
had already paid Champ over AU$77 million in December 2025. Pepperstone
clarified that the dispute is strictly between its current and former owners
and has no impact on the broker’s operations.
Volatility revives Singapore CFD trading
Meanwhile, favorable market conditions have prompted Singapore’s CFD traders to return after several years of subdued activity. The
growing variety of products they are trading suggests this comeback may be
sustainable, signaling renewed interest and participation across the market.
According to Investment Trends’ 2025 Singapore Leverage
Trading Report, the country’s leveraged trading market recorded its first rise
in active participants since 2021. Associate Research Director Lorenzo Vignati
noted that despite recent macroeconomic challenges, the market’s core base has
remained strong, supporting trader confidence, strategy adaptation, and overall
market liquidity.
CySEC targets CFD brokers in EU
Cyprus’s financial regulator, the Cyprus Securities and
Exchange Commission (CySEC), has announced plans to inspect CFD brokers and other investment firms as part of a wider EU initiative on conflicts of interest. In a new circular issued this week, CySEC informed Cyprus Investment
Firms that it will conduct both on-site visits and desk-based reviews during
the year.
The coordinated review aims to see whether brokers are
prioritizing their own profits over clients’ interests. CySEC and ESMA will
focus on three main areas: how employee pay, bonuses, and incentives influence
product recommendations; whether digital trading platforms are designed to
nudge clients toward certain products; and how firms balance their revenue
objectives with the duty to act in the best interests of retail investors.
Brokers still catching up with DORA
A year after the European Union’s Digital Operational Resilience Act (DORA) took effect, many brokers are still struggling to meet its requirements. The regulation, which aims to strengthen financial firms’ ability to handle cyber and IT disruptions, has been slowed by complex compliance demands, high costs, and a cautious “wait-and-see” attitude.
Smaller CFD brokers, in particular, find it hard to compete for skilled cybersecurity professionals as larger firms offer better pay to attract top talent. According to Mate Ivanszky, CEO of cybersecurity provider Matworks, only a handful of EU institutions have reached full DORA maturity, with many firms already behind schedule. Some startups have only recently begun addressing the new rules.
Kenya to issue permits to Robo-advisors
Lastly, Kenya’s Capital Markets Authority plans to bring robo-advisors and digital investment platforms under its regulatory framework as app-based trading continues to attract a growing number of young, tech-savvy investors. The proposed licensing requirements set for implementation in 2025 will outline how these digital investment firms operate and engage with retail clients.
The move does not alter licensing terms for existing FX and CFD brokers but expands CMA’s oversight to include apps and robo-advisory services that act as intermediaries. This step will require online platforms offering automated advice or portfolio management tools to secure formal authorization.
Dubai’s regional security deteriorated as Iran fired waves of ballistic missiles and drones toward the United Arab Emirates. The UAE
Ministry of Defense reporting that its air defense systems have intercepted the
majority of these projectiles.
The region has rapidly evolved into a major base for CFD
brokers, trading firms, and crypto exchanges, drawn by Dubai International
Financial Centre and Virtual Assets Regulatory Authority licences, zero
corporate tax, and fast company setup processes.
Major players including IG Group, CMC Markets, Pepperstone,
Saxo Bank, Plus500, Capital.com, and CFI have clustered their offices in and
around the city’s downtown financial district.
Iran crypto volumes crash 80%
Amid the conflict, crypto was not spared either. Iranian platforms saw transaction volumes drop sharply as authorities imposed strict internet
restrictions and exchanges focused on protecting their operations.
Internet connectivity reportedly fell by about 99%, making
it extremely difficult for users to access trading platforms. The situation
also exposed how reliant the local ecosystem is on a few centralized physical
infrastructure providers, which became single points of failure when outages
hit.
Amid the escalating conflict in Iran, many citizens are turning to Bitcoin as a financial lifeline.
Reports and on-chain data shows increased buying activity followed by large withdrawals from local exchanges into self-custody wallets.
BITCOIN IS FREEDOM FOR 🇮🇷 pic.twitter.com/BysoXM1Bgt
— Satoxis (@satoxis) March 3, 2026
TRM Labs found that Iran’s largest exchange, Nobitex,
processed about $3 million more in combined inflows and outflows around the
time of the strikes, but this activity stayed within its normal historical
range.
FundedNext pays $15M to 8,000+ traders
Away from missiles, prop trading firm FundedNext reported that it paid out $15.19 million to 8,340 traders in February. The company introduced this
disclosure as part of a new monthly payout report series, which it plans to
publish regularly to share performance and transparency updates.
Source: FundedNext
According to FundedNext, the February payouts covered 13,712
transactions across 10,346 funded accounts, noting that some traders manage
multiple accounts. Since its launch, the firm claims to have distributed more
than $271.4 million through over 205,000 transactions, although these figures
have not been independently verified.
Oil trader numbers soar on Capital.com
While tensions weigh on global sentiment, oil and gold are attracting heightened investor attention. Data from Capital.com showed oil
trading volumes surged 649% on Monday, while the number of active oil traders
jumped 276% in a single day.
Overall, the platform recorded a 49% increase in active
traders from the previous Friday, with total volumes up 73% and executed trades
climbing 82%. Oil became the second most-traded instrument on the platform,
surpassing several major currency and index markets.
Gold also attracted strong inflows, with trading volumes
rising 103% overnight as investors sought safe-haven assets.
Crypto trading gains ground while CFTC oversight
In the crypto space, CFTC is preparing to approve crypto perpetual futures trading, marking another step in the country’s push to expand digital asset
markets. The move comes even as the agency cuts back on its enforcement staff,
raising questions about how effectively regulators can oversee the growing
crypto sector.
Despite this enthusiasm, the CFTC ’s shrinking enforcement
capacity has sparked concern among investors and industry watchers. While the
regulator works closely with the Securities and Exchange Commission on
broader digital asset policies, the timing of staff reductions suggests a
possible imbalance between market expansion and oversight.
Kraken joins Fed payment network
As the regulations soften, Kraken became the first digital asset company to gain direct access to the core of the U.S. financial system, a
Federal Reserve master account. This approval could transform how crypto
platforms handle U.S. dollar transactions, reducing reliance on partner banks
and making payments faster and more resilient to disruptions in banking
relationships.
A Fed master account serves as the main entry point to the
central bank’s payment infrastructure. It allows eligible institutions to hold
reserves and send or receive funds directly through systems like Fedwire,
without using intermediaries. For crypto companies, that means more direct and
secure movement of money within the financial system.
J. Safra Sarasin completes Saxo Bank takeover
Also, this week, J. Safra Sarasin Group completed its acquisition of a 71% stake in Saxo Bank, concluding a months-long regulatory approval process. The deal, valued at about €1.1 billion when announced in March 2025, gives the Swiss family-owned banking group control of the Danish online broker, one of Europe’s prominent retail trading platforms.
The purchase transfers shares previously held by Geely Financials Denmark, Mandatum Group, and smaller investors. Saxo Bank founder Kim Fournais, who launched the firm in 1992 and built it into a fintech bank serving over 1.7 million clients, keeps his 28% stake. He has stepped down as CEO and will now serve as Chairman of the Board.
OANDA shifts prop traders to FTMO
In the prop space, OANDA has announced that its proprietary
trading arm, OANDA Prop Trader, will transition to the FTMO Group. The change
follows FTMO’s acquisition of OANDA last year, marking a strategic shift in
operations as the two firms consolidate their strengths in the trading
industry.
Founded in 1996, OANDA has built a strong global presence in
retail and corporate trading, operating across major financial hubs such as New
York, London, and Tokyo. With the transfer, FTMO will take over OANDA Prop
Trader’s clients and provide them with a more specialized trading environment.
Pepperstone’s owners ordered to pay AU$97M
Pepperstone’s majority shareholder, FX Group Holdings, which
owns 60% of the CFDs broker and counts company Chair Fiona Lock among its
members, has been ordered to pay AU$96.9 million plus interest to Champ Private Equity. The payment follows a lengthy legal dispute over FX Group’s 2018
acquisition of Champ’s majority stake in Pepperstone.
FX Group includes Pepperstone CEO Tamas Szabo and former
director Andrew Defina as shareholders. According to court documents, the group
had already paid Champ over AU$77 million in December 2025. Pepperstone
clarified that the dispute is strictly between its current and former owners
and has no impact on the broker’s operations.
Volatility revives Singapore CFD trading
Meanwhile, favorable market conditions have prompted Singapore’s CFD traders to return after several years of subdued activity. The
growing variety of products they are trading suggests this comeback may be
sustainable, signaling renewed interest and participation across the market.
According to Investment Trends’ 2025 Singapore Leverage
Trading Report, the country’s leveraged trading market recorded its first rise
in active participants since 2021. Associate Research Director Lorenzo Vignati
noted that despite recent macroeconomic challenges, the market’s core base has
remained strong, supporting trader confidence, strategy adaptation, and overall
market liquidity.
CySEC targets CFD brokers in EU
Cyprus’s financial regulator, the Cyprus Securities and
Exchange Commission (CySEC), has announced plans to inspect CFD brokers and other investment firms as part of a wider EU initiative on conflicts of interest. In a new circular issued this week, CySEC informed Cyprus Investment
Firms that it will conduct both on-site visits and desk-based reviews during
the year.
The coordinated review aims to see whether brokers are
prioritizing their own profits over clients’ interests. CySEC and ESMA will
focus on three main areas: how employee pay, bonuses, and incentives influence
product recommendations; whether digital trading platforms are designed to
nudge clients toward certain products; and how firms balance their revenue
objectives with the duty to act in the best interests of retail investors.
Brokers still catching up with DORA
A year after the European Union’s Digital Operational Resilience Act (DORA) took effect, many brokers are still struggling to meet its requirements. The regulation, which aims to strengthen financial firms’ ability to handle cyber and IT disruptions, has been slowed by complex compliance demands, high costs, and a cautious “wait-and-see” attitude.
Smaller CFD brokers, in particular, find it hard to compete for skilled cybersecurity professionals as larger firms offer better pay to attract top talent. According to Mate Ivanszky, CEO of cybersecurity provider Matworks, only a handful of EU institutions have reached full DORA maturity, with many firms already behind schedule. Some startups have only recently begun addressing the new rules.
Kenya to issue permits to Robo-advisors
Lastly, Kenya’s Capital Markets Authority plans to bring robo-advisors and digital investment platforms under its regulatory framework as app-based trading continues to attract a growing number of young, tech-savvy investors. The proposed licensing requirements set for implementation in 2025 will outline how these digital investment firms operate and engage with retail clients.
The move does not alter licensing terms for existing FX and CFD brokers but expands CMA’s oversight to include apps and robo-advisory services that act as intermediaries. This step will require online platforms offering automated advice or portfolio management tools to secure formal authorization.
