Last Week Recap: MT4/5 Banned in China; IG Exits South Africa; Dubai Broker Disappears; April FX Volume Report

Fazzaco continued extensively covering the latest trends in forex, crypto, fintech, and prop trading last week. The below is the selected highlights of last week.

Breaking: China Regulatory Action Likely Behind MetaTrader Mainland Block

The suspected blocking of access to MetaTrader 4 and 5 (MT4/5) platforms from mainland China​, first reported exclusively by Fazzaco, continues to stir significant concern across the industry. However, new information suggests the cause of the disruption may differ from early assumptions.

IG Group to Close South African Onshore Operations

IG Group is reportedly closing down its local South African business. However, the broker will allow South African clients to maintain their accounts under the group's offshore entities.

ESMA Urges Tech Giants to Curb Financial Scams on Social Media

The European Securities and Markets Authority (ESMA) has called on major tech platforms to play a more active role in curbing the spread of unauthorized financial services advertised online. In letters sent to companies including Meta, TikTok, X (formerly Twitter), Alphabet, and others, the EU financial regulator warned of rising risks from digital scams targeting retail investors.

Concerns Grow Over Dubai Broker's Disappearance and Unaccounted Investor Funds

According to reports from Khaleej Times on May 20, a broker named Gulf First Commercial Brokers abruptly ceased operations last month, leaving behind vacant offices at Capital Golden Tower and a flurry of unanswered calls from distressed clients. The company had been operating out of suites 302 and 305, which were reportedly transformed into a high-pressure sales floor targeting retail investors across the Emirates.

ANAX Capital Enters UAE Trading Market with Full SCA License

A new player has emerged in the Middle East's online trading landscape as ANAX Capital formally launched operations last week, offering trading services from its Dubai headquarters.

Beyond the Prop Challenge: Study Unpacks Traders' Mental Game

In the burgeoning world of prop trading, traders face more than just the initial "challenge" of passing stringent evaluations to secure funded accounts. New research reveals that in this high-stakes, high-reward arena, the true tests lie in navigating multi-platform complexities, managing hidden psychological pressures, and keenly understanding evolving industry trends.

CLS's FX Trade Volume Report - April 2025

The analytics team at CLS Group has reviewed foreign exchange (FX) trading activity for April 2025, comparing the month against prior periods and analyzing daily and hourly trading patterns within the month. This resulted in the April 2025 FX Market Trading Report, which covers data from the FX spot, swap, and outright forward markets.