Another prop firm closesIs competition in the prop trading space heating up? Prop trading firm Propel Capital shut down just 14 monthsafter its launch, saying competition in the industry had made operationsunsustainable. The firm’s website also went offline following the announcement.Official Announcement: Please read pic.twitter.com/FFp4xixsKl— PropelCapitalUK (@PropelCapitalUK) August 19, 2025Founder and CEO Mitchell Ali said in a post on X that thedecision came after months of mounting pressure as rival prop firms cut pricesand loosened trading rules to lure clients.Libertex Group unveils new offshore CFD brokerAs the prop industry struggles, the CFD space is thriving. LibertexGroup launched a new offshore contract for differences (CFDs) broker brand,LBX, which also signed a sponsorship deal with the KICK Sauber Formula 1 team.The brand is operated by MAEX LIMITED, a company registeredand regulated in Mauritius. The LBX website went live in fourlanguages—English, Thai, Vietnamese, and Spanish—and outlined tailored benefitsfor Latin America.Plus500 establishes Colombia officeAt the same time, Plus500 has announced the opening of its first representative office in Colombia. The move came after the companysecured authorization from the Colombian Financial Superintendence (SFC).Additionally, the company is pursuing a local license inChile, where it had already set up a local entity last year.MultiBank Group eyes Abu DhabiIn the Middle East, MultiBank Group plans to open a new office in Abu Dhabi. The move positioned the company in the capital of theUnited Arab Emirates.According to this week’s announcement, the Abu Dhabi officewas set up to serve both retail and institutional customers.XS.com gains new Mauritius licenseAlso expanding, XS.com strengthened its offshore presence byobtaining a license from the regulator in Mauritius, which the contracts fordifferences (CFDs) broker described as a “strategic move.”In this week’s announcement, the broker emphasized that the licensefrom the Financial Services Commission would enable it to better serve itsglobal client base.Ghana to regulate forex tradingIn the African market, Ghana’s Securities and ExchangeCommission began working on a regulatory framework for the country's forex trading.According to local media reports, the SEC’s Acting DeputyDirector-General, Mensah Thompson, confirmed during an engagement with theGhana Journalists Association that the process of developing the framework wasalready underway.eToro offers 4.3% on idle casheToro announced this week that it will begin paying up to4.3% annual interest on cash held in customer trading accounts. The initiativeis designed to ensure client funds generate returns even when they are notactively deployed in trades.With the move, the Israeli fintech joins other retailbrokers that have rolled out similar interest-paying features over the past twoyears, including Interactive Brokers and XTB.Week in numbers: Dukascopy Bank, FortradeDukascopy Bank, a Geneva-based Swiss bank that providesonline trading services including forex and CFDs, has released its interim financial results for the six months ending June 30, 2025, reporting asignificant improvement in profitability compared with the same period in 2024.Fortrade Limited, a UK-based financial services firm focusedon contracts for difference trading, reported stronger results for 2024 ashigher client activity boosted profitability. The London-headquartered broker posted an operating profitof £1.34 million, a 37% increase from £921,000 in 2023.Fortrade Limited:Prime brokerage, FX fix woes, and tech risksPrime brokerage has experienced sharp fluctuations since theglobal financial crisis, with European banks taking nearly a decade to regainthe confidence to commit substantial resources to the business despiteheightened regulatory oversight.Bloomberg now projects that prime brokerage revenues willhit record levels in 2025. Morgan Stanley highlighted “robust results in primebrokerage” in its second-quarter equity update, while Citigroup’s CFO pointedto record prime brokerage balances.Payment delays hit 40% of UK crypto investorsIn the crypto space, IG research shows that 40% of UK cryptocurrency investorshave experienced blocked or delayed payments when attempting to purchasedigital assets, pointing to regulatory gaps that enable banks to restrictaccess. The findings are drawn from a survey of 2,000 UK adults and500 crypto investors conducted with research agency Norstat. In the United States, regulators have been directed toexamine alleged cases of “debanking,” including incidents involving cryptocompanies.Kraken acquires Capitalise.aiStill with crypto, Kraken has acquired Capitalise.ai, an Israel-based developer of no-code trading automation tools, as it looks to make advanced strategy design and execution accessible to a broader range of traders. The deal will see Capitalise.ai’s technology integrated into Kraken Pro, with a phased rollout planned later this year.ChatGPT 5 missteps, 6 tries againLastly, OpenAI rolled out ChatGPT 5 in early August 2025,presenting it as a major leap forward in artificial intelligence, with improvedreasoning and creativity that the company likened to having a PhD-levelcollaborator. Now, CEO Sam Altman is shifting attention to ChatGPT 6,hinting at new “memory magic” features that could address some of theshortcomings of its predecessor. This article was written by Jared Kirui at www.financemagnates.com.