CP13/26 would lift 128 PRA thresholds with GDP
PRA consultation CP13/26 would index 128 thresholds to nominal GDP from July 1, 2031, then every five years. What stays out, including joint FCA lines.
The Industry Spread
Rain National Trust Bank files an OCC charter
Rain National Trust Bank applied to the OCC on October 5, 2026 for a trust charter to custody assets and issue stablecoins, not to take deposits or make loans.
USD/ILS
3.099by October 21, 2026
Wrong below3.005
Spot at filing3.055
USD/ILS to 3.099 by October 21: the July rate-path gap
S&P/TSX
34,938.01by December 9, 2026
Wrong above36,410.62
Spot at filing35,664.62
S&P/TSX to 34,938 by December 9: higher bond yields
USD/PHP
63.01by October 22, 2026
Wrong below62.568
Spot at filing62.766
USD/PHP to 63.01 by October 22: the real-rate case
NZD/CAD
0.7923by December 9, 2026
Wrong above0.8143
Spot at filing0.8005
NZD/CAD to 0.7923 by December 9: the 2-year yield case
Levels as stated when filed. Not live prices. Analysis, not investment advice.
Cash FX Group complaint maps the unregistered forex pool
Release 9304-26 and the September 24, 2026 complaint allege Cash FX Group took over $950 million in an unregistered forex pool. No penalty has been ordered.
Release 9306-26 extends UK swaps no-action to 2027
CFTC release 9306-26 extends Brexit no-action for UK swap dealers and 25 trading venues through December 31, 2027. Letter 26-28 is not a Commission order.
Advisers Act crypto custody proposal opens a self-custody path
The SEC's Advisers Act proposal of October 1 would allow self-custody of client crypto if no permitted custodian exists, and would admit state trust companies.
FirmWhat we foundFiled
WenCrypto80% split, first payout capped at 6%9 OctWhat is a funded accountWhat is a funded account: simulated capital, not yours8 OctFunded Academy12-hour reward vs a 24-hour FAQ7 OctCMC FundedThe payout policy is not published6 OctTradersYardPayout caps and the 50% profit gate5 OctAlpine FundedThe payout that waits for a third withdrawal4 OctAscension Funding24–48 hours is not the payout clock4 OctMeridian FundedZero denials are not in the terms2 OctBest prop firmsBest prop firms in 2026: five payout-checked comparisons2 OctFundingTicksRefunds, an 80% split, and a halted book1 OctHypernovaSimulated fills and three payout clocks30 SepInvestabl10-second median, 24-hour exceptions30 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
Orbit Funded review: 1:1 reward rule reset a payout
Orbit Funded suits a trader who reads the payout rules first, because a rejected withdrawal can return an instant or funded account to its starting size. It does not suit anyone who treats “Get rewarded in 24 hours or we pay $1,000 extra” as a promise of payment on that clock. The biggest caveat is the published 1:1 rule: close a winner inside the original stop and the firm can reject the payout and wipe the profit. No audited payout total is published, and the terms name no company.
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 10 October in 2025, 2023, 2022 and 20212025
2023
