FundedNext Launches Brokerage Arm FNmarkets, Eyes Global Licenses

FundedNext, a proprietary trading firm established in 2022, has officially entered the brokerage sector with the launch of FNmarkets today, Tuesday, May 20, 2025. The new brokerage brand is currently authorized in Comoros and has already applied for licenses in Mauritius and from the Dubai Financial Services Authority (DFSA). FNmarkets anticipates receiving authorization from the Mauritius Financial Services Commission (FSC) in early Q3 2025.

FNmarkets, registered as a CFDs broker in Comoros, will be headed by Abdullah Jayed, who also serves as the CEO of FundedNext. Selim Mahmud, currently the Vice President at the prop firm, has taken on the role of Head of FNmarkets.

According to the registry of the Mwali International Services Authority, the financial services regulator in Comoros, FNmarkets secured its license in November 2024. The report notes that Comoros's licensing regime has drawn some controversy and has also attracted other prop firms, such as City Traders Imperium, Holaprime, FundingPips, and Goat Funded Trader, though typically for MetaTrader licenses rather than full brokerage operations.

Meanwhile, FNmarkets also plans to pursue a license in Cyprus, though it has not yet formally applied. A Cyprus license would allow the firm to operate across the European Economic Area (EEA). A company representative stated, "We do plan to pursue a CySEC licence, but our approach is phased. We are committed to continuously pursuing licenses in key global jurisdictions." This move by FundedNext follows the notable entry of other prop firms into the brokerage industry, such as the acquisition of OANDA by Czech Republic-based FTMO​.