Missiles hit Dubai, brokers hold firmDubai’s regional security deteriorated as Iran has fired waves of ballistic missiles and drones toward the United Arab Emirates. The UAEMinistry of Defence reporting that its air defence systems have intercepted themajority of these projectiles. The region has rapidly evolved into a major base for CFDbrokers, trading firms, and crypto exchanges, drawn by Dubai InternationalFinancial Centre and Virtual Assets Regulatory Authority licences, zerocorporate tax, and fast company setup processes.Major players including IG Group, CMC Markets, Pepperstone,Saxo Bank, Plus500, Capital.com, and CFI have clustered their offices in andaround the city’s downtown financial district.Iran crypto volumes crash 80%Amid the conflict, crypto was not spared either. Iranian platforms saw transaction volumes drop sharply as authorities imposed strict internetrestrictions and exchanges focused on protecting their operations. Internet connectivity reportedly fell by about 99%, makingit extremely difficult for users to access trading platforms. The situationalso exposed how reliant the local ecosystem is on a few centralized physicalinfrastructure providers, which became single points of failure when outageshit.Amid the escalating conflict in Iran, many citizens are turning to Bitcoin as a financial lifeline. Reports and on-chain data shows increased buying activity followed by large withdrawals from local exchanges into self-custody wallets.BITCOIN IS FREEDOM FOR 🇮🇷 https://t.co/9JKx1aMv6o pic.twitter.com/BysoXM1Bgt— Satoxis (@satoxis) March 3, 2026TRM Labs found that Iran’s largest exchange, Nobitex,processed about $3 million more in combined inflows and outflows around thetime of the strikes, but this activity stayed within its normal historicalrange.FundedNext pays $15M to 8,000+ tradersAway from missiles, prop trading firm FundedNext reported that it paid out $15.19 million to 8,340 traders in February. The company introduced thisdisclosure as part of a new monthly payout report series, which it plans topublish regularly to share performance and transparency updates.According to FundedNext, the February payouts covered 13,712transactions across 10,346 funded accounts, noting that some traders managemultiple accounts. Since its launch, the firm claims to have distributed morethan $271.4 million through over 205,000 transactions, although these figureshave not been independently verified.Oil trader numbers soar on Capital.comWhile tensions weigh on global sentiment, oil and gold are attracting heightened investor attention. Data from Capital.com showed oiltrading volumes surged 649% on Monday, while the number of active oil tradersjumped 276% in a single day. Overall, the platform recorded a 49% increase in activetraders from the previous Friday, with total volumes up 73% and executed tradesclimbing 82%. Oil became the second most-traded instrument on the platform,surpassing several major currency and index markets.Gold also attracted strong inflows, with trading volumesrising 103% overnight as investors sought safe-haven assets.Crypto trading gains ground while CFTC oversight In the crypto space, CFTC is preparing to approve crypto perpetual futures trading, marking another step in the country’s push to expand digital assetmarkets. The move comes even as the agency cuts back on its enforcement staff,raising questions about how effectively regulators can oversee the growingcrypto sector. Despite this enthusiasm, the CFTC’s shrinking enforcementcapacity has sparked concern among investors and industry watchers. While theregulator works closely with the Securities and Exchange Commission onbroader digital asset policies, the timing of staff reductions suggests apossible imbalance between market expansion and oversight.Kraken joins Fed payment networkAs the regulations soften, Kraken became the first digital asset company to gain direct access to the core of the U.S. financial system, aFederal Reserve master account. This approval could transform how cryptoplatforms handle U.S. dollar transactions, reducing reliance on partner banksand making payments faster and more resilient to disruptions in bankingrelationships.A Fed master account serves as the main entry point to thecentral bank’s payment infrastructure. It allows eligible institutions to holdreserves and send or receive funds directly through systems like Fedwire,without using intermediaries. For crypto companies, that means more direct andsecure movement of money within the financial system.J. Safra Sarasin completes Saxo Bank takeoverAlso, this week, J. Safra Sarasin Group completed its acquisition of a 71% stake in Saxo Bank, concluding a months-long regulatory approval process. The deal, valued at about €1.1 billion when announced in March 2025, gives the Swiss family-owned banking group control of the Danish online broker, one of Europe’s prominent retail trading platforms. The purchase transfers shares previously held by Geely Financials Denmark, Mandatum Group, and smaller investors. Saxo Bank founder Kim Fournais, who launched the firm in 1992 and built it into a fintech bank serving over 1.7 million clients, keeps his 28% stake. He has stepped down as CEO and will now serve as Chairman of the Board.OANDA shifts prop traders to FTMOIn the prop space, OANDA has announced that its proprietarytrading arm, OANDA Prop Trader, will transition to the FTMO Group. The changefollows FTMO’s acquisition of OANDA last year, marking a strategic shift inoperations as the two firms consolidate their strengths in the tradingindustry.Founded in 1996, OANDA has built a strong global presence inretail and corporate trading, operating across major financial hubs such as NewYork, London, and Tokyo. With the transfer, FTMO will take over OANDA PropTrader’s clients and provide them with a more specialized trading environment.Pepperstone’s owners ordered to pay AU$97MPepperstone’s majority shareholder, FX Group Holdings, whichowns 60% of the CFDs broker and counts company Chair Fiona Lock among itsmembers, has been ordered to pay AU$96.9 million plus interest to Champ Private Equity. The payment follows a lengthy legal dispute over FX Group’s 2018acquisition of Champ’s majority stake in Pepperstone.FX Group includes Pepperstone CEO Tamas Szabo and formerdirector Andrew Defina as shareholders. According to court documents, the grouphad already paid Champ over AU$77 million in December 2025. Pepperstoneclarified that the dispute is strictly between its current and former ownersand has no impact on the broker’s operations.Volatility revives Singapore CFD tradingMeanwhile, favorable market conditions have prompted Singapore’s CFD traders to return after several years of subdued activity. Thegrowing variety of products they are trading suggests this comeback may besustainable, signaling renewed interest and participation across the market.According to Investment Trends’ 2025 Singapore LeverageTrading Report, the country’s leveraged trading market recorded its first risein active participants since 2021. Associate Research Director Lorenzo Vignatinoted that despite recent macroeconomic challenges, the market’s core base hasremained strong, supporting trader confidence, strategy adaptation, and overallmarket liquidity.CySEC targets CFD brokers in EUCyprus’s financial regulator, the Cyprus Securities andExchange Commission (CySEC), has announced plans to inspect CFD brokers and other investment firms as part of a wider EU initiative on conflicts of interest. In a new circular issued this week, CySEC informed Cyprus InvestmentFirms that it will conduct both on-site visits and desk-based reviews duringthe year. The coordinated review aims to see whether brokers areprioritizing their own profits over clients’ interests. CySEC and ESMA willfocus on three main areas: how employee pay, bonuses, and incentives influenceproduct recommendations; whether digital trading platforms are designed tonudge clients toward certain products; and how firms balance their revenueobjectives with the duty to act in the best interests of retail investors.Brokers still catching up with DORAA year after the European Union’s Digital Operational Resilience Act (DORA) took effect, many brokers are still struggling to meet its requirements. The regulation, which aims to strengthen financial firms’ ability to handle cyber and IT disruptions, has been slowed by complex compliance demands, high costs, and a cautious “wait-and-see” attitude. Smaller CFD brokers, in particular, find it hard to compete for skilled cybersecurity professionals as larger firms offer better pay to attract top talent. According to Mate Ivanszky, CEO of cybersecurity provider Matworks, only a handful of EU institutions have reached full DORA maturity, with many firms already behind schedule. Some startups have only recently begun addressing the new rules.Kenya to issue permits to Robo-advisorsLastly, Kenya’s Capital Markets Authority plans to bring robo-advisors and digital investment platforms under its regulatory framework as app-based trading continues to attract a growing number of young, tech-savvy investors. The proposed licensing requirements set for implementation in 2025 will outline how these digital investment firms operate and engage with retail clients. The move does not alter licensing terms for existing FX and CFD brokers but expands CMA’s oversight to include apps and robo-advisory services that act as intermediaries. This step will require online platforms offering automated advice or portfolio management tools to secure formal authorization. This article was written by Jared Kirui at www.financemagnates.com.