Last Week Recap: Updates on Exante, Doo Group, Saudi Arabia, CFI, INGOT Brokers and IG Group

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.

UK-Regulated Exante Unit Suspends New Client Onboarding and Deposits

LHCM, the UK-regulated entity of the Exante Group, has suspended the onboarding of new clients and stopped accepting deposits from existing customers. According to a notice published on LHCM’s website, the decision is voluntary and has been agreed with the UK Financial Conduct Authority (FCA).

Doo Group Rebrands UK and South Africa Operations to RKX

Brokerage holding company Doo Group has reportedly initiated a significant rebranding of its regulated operations in the United Kingdom and South Africa, adopting the new name "RKX."

Saudi Arabia Removes Qualified Foreign Investor Rules to Broaden Market Access

Saudi Arabia will open its capital markets to all foreign investors from February 1, eliminating the Qualified Foreign Investor (QFI) framework that has governed overseas participation for nearly a decade. The Capital Markets Authority approved regulatory amendments allowing global investors to trade Saudi-listed securities directly, without special approval or intermediary structures.

CFI Appoints Michael O’Sullivan as Senior Technology Advisor

CFI Financial Group has appointed Michael O’Sullivan as Senior Technology Advisor, strengthening its technology leadership as it manages a multi-region trading infrastructure. The Dubai-headquartered broker confirmed the appointment following O’Sullivan’s long career in the retail FX and contracts for differences (CFDs) sector.

INGOT Brokers Opens Cyprus Office, Expanding Footprint into the EU

INGOT Brokers has expanded into the European Union with the opening of a new office in Limassol, Cyprus. The move adds to the broker’s existing operations in Australia, Dubai, Jordan, and Kenya.

IG Group Trading Director Adam Blemings Departs After Nearly Two Decades​

Senior executives continue to exit major brokerage firms as the industry adjusts to evolving regulation and shifting client behaviour. IG Group has now joined this trend, with long-time Trading Director Adam Blemings stepping down, bringing nearly two decades at the London-listed broker to an end.