FCA cryptoasset gateway opens against a February 28 deadline
The FCA cryptoasset gateway opens on September 30, 2026. A filing after February 28, 2027 loses the saving provision ahead of the October 25, 2027 regime.
The Industry Spread
Hypernova review: simulated fills and three payout clocks
Hypernova sells a one-step assessment at an 80% split, but the fills are simulated and its own pages disagree on the payout clock.
EUR/AUD
1.6095by November 3, 2026
Wrong above1.6438
Spot at filing1.6260
EUR/AUD to 1.6095 by the November 3 RBA decision
US 10-year Treasury yield
5.00%by 28 October 2026
Wrong above5.40%
Spot at filing5.24%
US 10-year yield to 5.00% by October 28 as Fed hikes flatten the curve
AUD/JPY
112.50by November 3
Wrong below109.19
Spot at filing110.87
AUD/JPY to 112.50 by November 3 as the RBA hikes into a split BOJ
GBP/CHF
1.1100by November
Wrong below1.0880
Spot at filing1.0974
GBP/CHF to 1.11 by November: three BoE hike votes vs a 0% SNB
Levels as stated when filed. Not live prices. Analysis, not investment advice.
FCA PS26/18 leaves crypto front-ends waiting on Article 9Z2A
FCA PS26/18 says apps letting users place crypto orders likely need authorisation, while the Article 9Z2A carve-out waits on a Treasury SI the guidance omits.
FINRA Rule 3290 retires the 1994 notice that made brokers supervise outside RIA work
SEC Release 34-106381 approves FINRA Rule 3290, reclassifying unaffiliated RIA work as an outside activity and retiring NASD supervision guidance from 1994.
CFTC Letter 26-25 makes passivity the price of software relief
CFTC Staff Letter 26-25 lets passive software providers skip introducing broker registration — but its 10 conditions exclude copy trading and signal tools.
FirmWhat we foundFiled
Investabl10-second median, 24-hour exceptions30 SepSharkFunded24-hour claim, 24–48 hour rules30 Sep100X ClubThe 6% cap on your first two payouts29 SepthePropTradeThe Saint Lucia name, the Dubai contract29 SepPipstone Capital90% on the homepage, 80/20 in the terms29 SepPropaniumThe Smart Exit that cuts a 90% split to 60%29 SepOneStopProp“100% refundable” on plans its FAQ never refunds28 SepLegionFundingA Trustpilot profile older than the company28 SepFlagship FundedThe 100% split needs a score of 4.76 out of 528 SepPaid To TradeA-book on the sales page, demo in the contract28 SepQuantum FundingThe homepage FAQ is still Lorem ipsum26 SepSpace FundedA Wyoming LLC that arbitrates in the Canaries26 Sep
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
Hypernova review: simulated fills and three payout clocks
Hypernova suits crypto and TradFi perpetual traders who can pass a one-step test inside a static drawdown and take an 80% split. It does not suit anyone who needs one payout rule. The rulebook says processing under 0.02 seconds, the payout guide says about five seconds, and the stats page on 30 September 2026 showed a 6.0-second average. The biggest caveat: fills are simulated, a closed-alpha page caps profit withdrawals at $10,000 a day, and a 29 September claim of a 5.9-second average could not be verified.
NOWPayments has not confirmed where its volume settles
TRON DAO says 40% of NOWPayments volume runs on TRON.
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.
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.
Karthik Subramanian
Karthik Subramanian is a founder, writer, and technology consultant with nine years in the crypto ecosystem.
Also filed
From the archive
Filed around 30 September in 2025, 2023, 2022 and 20212025
2023
