Digital Asset Basic Act leaves Korean exchange ownership unsettled
South Korea's Digital Asset Basic Act remains a draft. Reported choices would limit exchange owners and steer won-pegged issuance towards bank-led consortiums.
The Industry Spread
KLCI to 1,616: the unchanged OPR case
KLCI reaches 1,616 by the next Bank Negara decision in the base case, from the 1,585.96 close, if the 2.75% OPR stays put. Below 1,576, the call breaks.
IPSA
10,433by December 15, 2026
Wrong above10,646.39
Spot at filing10,625.19
IPSA to 10,433: a 4.5% rate buys no cushion
KLCI
1,616by January 21, 2027
Wrong below1,576
Spot at filing1,585.96
KLCI to 1,616: the unchanged OPR case
Class III milk
$16.70by November 20, 2026
Wrong above$17.38
Spot at filing$16.93
Class III to $16.70: extra cows are in the curve
Iron ore
US$88by January 27, 2027
Wrong aboveUS$95
Spot at filingUS$92.60
Iron ore to $88: the Chinese port-stock case
Levels as stated when filed. Not live prices. Analysis, not investment advice.
LSEG depositary clears the sandbox gate for the DIGIT gilt
Gate 2 lets LSEG B3 settle the DIGIT gilt as an investor depositary inside the UK sandbox. Settlement-finality designation and the cash leg remain open.
France's €100,000 line for self-custody crypto reports
Amendment I-2701 would require French taxpayers to declare self-custodied crypto wallets from €100,000. The Assembly voted yes; the bill is still in Parliament.
Hong Kong passes CARF crypto-asset tax reporting rules
Hong Kong passed the crypto-asset reporting bill. CARF duties start 1 January 2027, the amended CRS starts 1 January 2028, and exchange is planned for 2028.
FirmWhat we foundFiled
Fund Your EdgeHomepage tile versus the payout check10 NovVenus FundedThe 95 percent split and 14-day payout9 NovDayTradersPayout caps under its 100% split7 NovBullwaves PrimeRegulated claim, SVG operator5 NovNEOM FundedThe reward cap under the drawdown4 NovCoinhub FundedPayout cap and the step-two reset3 NovMyPropCapitalOn-chain receipts and the fee clash2 NovForaxis60-second rewards and a seven-day gap1 NovDoji FundingPayout caps on a simulated account31 OctPropXPStatic drawdown versus the split add-on30 OctTrue Forex FundsPermanently closed for insolvency29 OctHash HedgeZero risk against the customer contract28 Oct
About these reviews. The Industry Spread reviews prop firms independently. Firms do not pay for reviews and cannot see them before publication. The Industry Spread has no affiliate or referral relationship with the firms covered.
Reviews by Abdelaziz Fathi
FundedTick review: the 40% rule that starts once funded
FundedTick suits traders who want a small simulated forex, metals or crypto test on MetaTrader 4 or 5, with no time limit and an 80% bi-weekly share. It does not suit anyone who needs a named company, a live order, or a $10,000 account kept on the evaluation rules. The biggest caveat is a clash on the firm’s site: the payouts page says nothing tightens once funded, the rules add a 40% best-day test on the $10,000 account only, and the terms pay within three business days of approval.
Bottomline completes a cross-border USDC hub transfer
Bottomline completed cross-border USDC payments in its Global Payments Hub.
Sparkasse Bank Malta opens digital-asset trading for clients
Sparkasse Bank Malta has opened digital asset trading for institutions and corporates. Eight coins are named via Crypto Finance. The note names no custodian.
VT Markets takes best gold trading platform at FinanceFeeds Awards
VT Markets has won Best Gold Trading Platform at the FinanceFeeds Awards 2026, capping a January in which it reported $1.5 trillion in gold turnover.
Axcera Takes Three FinanceFeeds Awards for Prop Tech
Axcera has won three FinanceFeeds Awards 2026 across prop trading technology, infrastructure and multi-asset solutions.
The Broker Back Office Becomes One Data Layer
The constraint on most brokerages is not strategy but infrastructure that cannot pass data between functions.
Karthik Subramanian
Karthik Subramanian is a founder, writer, and technology consultant with nine years in the crypto ecosystem.
Abdelaziz Fathi
Abdelaziz Fathi covers the intersection of forex/CFD brokerage, regulation, liquidity, fintech, and digital assets.
Rick Steves
Rick Steves has seen business and economics through many lenses.
Also filed
From the archive
Filed around 13 November in 2025, 2023, 2022 and 20212025
2023
Business Directory
5 companiesThe vendors, liquidity providers and service firms behind the brokerage industry, with licences checked against regulator registers.
The full directory
Finalto
Institutional liquidity, trading technology and risk management for brokers and funds
MetaQuotes
MetaTrader 4 and MetaTrader 5 platform software for brokers, banks, exchanges and hedge funds
Praxis Tech
Payment orchestration platform and Cashier checkout for gaming, trading, crypto and e-commerce merchants
PrimeXM
XCore liquidity aggregation software and dedicated hosting for FX and CFD brokers