Fazzaco Weekly Highlights: FCA FX/CFD Complaints Surge 53.5%, CME and ICE Challenge Kalshi, TopFX CEO Exits, Deriv Names CTO, Webull Expands Options Trading

The global forex, CFD and fintech industries experienced significant developments over the past week, with regulatory scrutiny, brokerage leadership changes and trading product innovation drawing attention. From a sharp increase in FX and CFD complaints in the UK to industry opposition against Kalshi's proposed oil perpetual futures, the developments highlighted the evolving regulatory and competitive landscape.

1. FCA Complaints Data: FX/CFD Complaints Rise 53% in UK, Outpacing Wider Investment Sector

Data released by the UK's Financial Conduct Authority showed that complaints against forex, CFD and spread betting firms rose 53.5% year-on-year in the first half of 2026, reaching 2,043 cases. The increase significantly exceeded the broader financial sector's complaint growth rate, placing renewed attention on customer protection and complaint-handling practices.

2. Commodity Groups Urge CFTC to Reject Kalshi's Oil Perpetual Futures

A coalition of commodity exchanges and energy market participants urged the US Commodity Futures Trading Commission (CFTC) to reject Kalshi's proposed WTI oil perpetual futures contract. The opposition, involving industry participants including CME and ICE, raised concerns over market integrity and the introduction of perpetual derivatives into traditional commodity markets. The proposal remained subject to regulatory approval.

3. TopFX CEO Victor Zachariades Departs, Returns to BKR44

Victor Zachariades announced his departure as CEO of Cyprus-based brokerage TopFX and his return to BKR44, the consulting business he previously founded. The leadership change highlighted ongoing executive movements and strategic shifts within the retail and institutional brokerage sector.

4. Deriv Appoints Rotimi Akinyele as CTO to Lead AI-Native Engineering

Online broker Deriv appointed Rotimi Akinyele as Chief Technology Officer to oversee its engineering operations and advance its AI-native strategy. The company aims to automate 75% of its manual workflows by the end of 2026, while strengthening cybersecurity and operational controls as AI becomes more deeply integrated into its business.

5. Webull Launches Extended-Hours Options Trading for Select US Stocks and ETFs​

Webull introduced extended-hours options trading for eligible US customers, covering selected stocks and ETFs, including Apple, NVIDIA, Tesla, SPY and QQQ. The service provides additional trading windows before and after regular market hours, allowing investors greater flexibility to respond to corporate announcements and market developments.

Last Week in Review

The developments over the past week reflected three key trends: greater regulatory scrutiny of retail trading activities, continued leadership and technology transformation among brokers, and expanding demand for innovative trading products.

For forex and CFD brokers, strengthening customer protection, maintaining robust operational controls and investing in adaptable trading technology remained essential to navigating a more competitive financial landscape.