Weekly Review: MyForexFunds Brand Assets Sold; IG’s OTC Revenue Retention Slips

Broker and prop-trading news this week was dominated by the sale of MyForexFunds' brand assets, the closure of FundedSeat, CMC Markets' move into simulated prop trading and a lowered revenue outlook from IG Group, alongside fresh regulatory activity in the UK and EU.

Traders Global has sold MyForexFunds' brand assets to Dubai-based Global Solutions, run by Haider Raza, a former MyForexFunds operations director. The deal, completed on 1 August, covers the MyForexFunds and MFF trademarks, logos, websites, domain names and official social media accounts. Financial terms were not disclosed and no date has been confirmed for services to resume under the brand. Global Solutions has not taken on Traders Global's liabilities, including outstanding trader payouts, which Traders Global will continue to handle through Global Solutions under a service agreement. According to the US CFTC, MyForexFunds served more than 135,000 customers before shutting down and generated at least $310 million in fees.

Futures-focused prop firm FundedSeat is closing after two years, blaming limited access to major trading platforms for preventing it from reaching the scale it needed. The firm said it would refund active accounts and settle pending withdrawals and positive live balances; monthly payouts had reached nearly $700,000. It did not support NinjaTrader or Tradovate, while MetaTrader was unavailable because of licensing restrictions affecting prop firms.

CMC Markets has formally announced CMC Funded, a simulated prop trading programme launched on 1 October. Participants get a $100,000 simulated account with fixed performance targets and risk limits; those who pass receive a Verified Trader badge and an interview opportunity through Verichain, the programme's first referral partner. CMC said the service sits outside its listed financial services business, is not a regulated product, does not hold client money or execute customer trades, and does not provide live brokerage or funded accounts.

IG cuts revenue guidance

IG Group expects third-quarter 2026 revenue of about £240 million, roughly 14% below the £280.1 million reported a year earlier, with net trading revenue of approximately £210 million versus £249.5 million. The broker blamed weaker OTC revenue retention, which fell to about 70% from an 80% average after market-making optimisation measures introduced in the second half of 2025. OTC net trading revenue is expected at around £155 million, down 18% year on year. Organic first trades rose more than 25% and active customers about 17%, and IG kept its medium-term guidance.

Separately, iSAM Securities' Radar network reported that the top 1% of winning retail accounts captured 66.5% of client profits over the 12 months to mid-August, with the top 5% taking 85.5% and 79.5% of clients ending in loss. Capital.com launched commission-free direct stock and ETF investing in nearly all EEA markets, covering more than 2,280 US and European securities. The FCA opened a five-month window for UK crypto authorisation, with applications due by 28 February 2027, while EU regulators are examining Binance's use of reverse solicitation.