What was revealed in eToro’s first public “F-1” IPO filing about the state of the company – and about how and where eToro really makes its money?
What online broker did Plus500 buy, expanding to a region where it previously didn’t have much presence?
Why is London/Cyprus based Rostro Group, and its Scope Markets unit, shuffling senior management, which includes a new assignment for Scope Markets CEO Pavel Spirin?
What management moves were seen at IG Group, Equiti Group, XTB, FlexTrade, and Robinhood, 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
eToro IPO filing reveals Revenue of $824M, Profit of $192M in 2024. Israel based, social trading focused online broker eToro has taken the next step in its plans to go public on NASDAQ, publicly filing an “F-1” registration statement with the US Securities and Exchange Commission. While the filing is preliminary and does not yet specify important elements of the IPO such as the proposed valuation of eToro, size of the offering, and timing, it does disclose in detail eToro’s financial results for 2024 and the past few years, as well as the company’s plans for the near future.
Plus500 to acquire Mehta Equities. Retail FX and CFD broker Plus500 Ltd (LON:PLUS) has conditionally agreed to acquire the entire share capital of Mehta Equities Limited, an Indian financial services company providing, inter alia, broking services including futures, options and cash equities trading products. The Acquisition enables Plus500 to expand its geographic footprint into India’s large and well-established financial industry, including futures trading.
Rostro Group shuffles management ahead of planned expansion into payments, crypto. London and Cyprus based FX and CFD broker holding company Rostro Group has announced a series of management changes, ahead of what the company says will be an expansion into “a number of new verticals” including payments, digital assets, hedge funds and private banking.
Robinhood Banking launches in challenge to legacy banks. US neobroker Robinhood Markets (NASDAQ:HOOD), fresh off reporting record results for 2024, is looking to further expand in the retail financial services sector, announcing the launch of Robinhood Banking alongside a few other initiatives. At its second annual Gold keynote event held yesterday, Robinhood announced advisory, banking, and AI products – but the biggest bombshell was clearly the launch of Robinhood Banking.
Top FX industry executive moves this week
❑ IG Group hires Adevinta / Aalto alum Esteve Jane as MD Europe.
❑ Exclusive: Ahmed Azzam named Head of Market Research at Equiti Group.
❑ Exclusive: Debbie Georgiou joins Scope Prime as Institutional BizDev Manager.
❑ Exclusive: Evangeline Mauthe joins XTB as Head of Compliance MENA.
❑ Exclusive: FlexTrade hires Abel Noser alum Nick Keihner as VP Sales.
❑ Robinhood adds Meta CRO John Hegeman to its Board.
