UAE-based broker APM Capital Markets rebrands as Lunaro following its acquisition of BUX UK, as industry shifts include new trading platforms and leadership changes across the sector.
UAE-based CFDs broker APM Capital Markets, founded in 2021 by Indian entrepreneur Disha Rajdev, has undergone a major rebranding and is now operating under the name Lunaro. This transformation follows its acquisition of BUX UK, the FCA-regulated subsidiary of the Amsterdam-based neobroker BUX, which itself was acquired by ABN Amro. The rebranding includes organizational restructuring, with the UAE entity renamed Lunaro Markets Limited and the UK entity becoming Lunaro Financial Services Limited. The firm has made several strategic senior hires, including Michael Going as Sales and Service lead and Nick Spencer-Skeen, formerly head of StoneX Europe, as Senior Executive Officer. Lunaro aims to build on its previous foundations and expand its market presence, leveraging the acquired UK operations alongside its UAE business.
In related industry developments, Devexperts, a capital markets software developer, has launched an innovative Event-Based Trading offering targeted at brokers seeking to enter this emerging niche. This solution enables the creation of bespoke event-based trading platforms tailored to specific client needs, allowing retail traders to engage in markets beyond traditional financial instruments, such as sports events or political contests. The platform includes features like 24/7 trading, contract management, and protections against front-running, reflecting growing demand for diversified trading products in the retail space.
Meanwhile, Australia’s retail FX and CFDs broker Eightcap has signalled its return to the proprietary trading (prop trading) space, an area it had pulled back from early in the previous year. The firm has launched a new product called Day Trader Challenges designed specifically for short-term, fast-paced trading, targeting day traders with customisable prop trading challenges. Eightcap had previously been one of the more active brokers working with prop trading firms, and this relaunch indicates a renewed focus on offering tailored prop trading solutions to retail traders.
Corporate governance moves have also been notable, with the Personal Finance Industry Standards body CFI appointing three new board members: Federico Cirulli, former CEO of ActivTrades; David Haglund, ex-CEO of Swissquote UK; and Prema Varadhan. These appointments bring a wealth of industry experience, signalling CFI’s strategic intention to strengthen its leadership with executives who have deep operational knowledge in FX and CFDs brokerage.
Additionally, Scandinavian Capital Markets, a well-established CFDs broker, has seen a significant leadership change, with long-time partner Michael Buchbinder departing the firm. Details of his next role remain private, but his exit marks a notable executive shift within the Scandinavian brokerage landscape.
These developments come amid broader industry shifts, including Cloudflare’s recent global outage affecting numerous FX and CFDs platforms’ websites, and ongoing technology innovations such as Devexperts’ multiple platform launches, from event-based trading solutions to futures and options platform offerings for brokers expanding into derivatives trading. Devexperts has also partnered with Dubai-based liquidity provider amana to integrate its DXtrade platform, enhancing brokers’ market access and execution capabilities, and launched a tailored institutional multi-asset platform for banks and asset managers to maintain control over pricing and risk while offering advanced trade execution.
Overall, the week has seen significant enhancements in broker branding, product innovation, and leadership reshuffles, reflecting an industry actively adapting to new market opportunities and increasingly complex client demands.
- https://fxnewsgroup.com/forex-news/retail-forex/fx-week-in-review-apm-capital-rebrand-more-event-contracts-eightcap-prop-trading-cfi-board/ – Please view link – unable to able to access data
- https://fxnewsgroup.com/forex-news/retail-forex/exclusive-cfds-broker-apm-capital-rebranding-as-lunaro/ – APM Capital Markets, a UAE-based CFDs broker founded in 2021 by Disha Rajdev, is rebranding as Lunaro. The company acquired BUX UK, the FCA-regulated unit of Amsterdam-based neobroker BUX, after BUX was acquired by ABN Amro. Lunaro has made strategic hires, including Michael Going as Sales and Service lead, and Nick Spencer-Skeen as Senior Executive Officer. The UAE operation is now Lunaro Markets Limited, and the UK entity is Lunaro Financial Services Limited. ([fxnewsgroup.com](https://fxnewsgroup.com/forex-news/retail-forex/exclusive-cfds-broker-apm-capital-rebranding-as-lunaro/?utm_source=openai))
- https://devexperts.com/news/devexperts-launches-event-based-trading-offering/ – Devexperts, a capital markets software developer, has launched a new event-based trading model. This solution supports clients entering the event-based trading market by developing bespoke platforms tailored to specific needs. Event Contracts allow retail traders to trade on non-financial events like sports contests or political events. The platform offers features such as 24/7 trading, contract management, and protection against front-running. ([devexperts.com](https://devexperts.com/news/devexperts-launches-event-based-trading-offering/?utm_source=openai))
- https://devexperts.com/news/futures-trading-platform-made-available-to-us-brokers-by-devexperts/ – Devexperts has launched a turnkey futures and options trading platform for brokers expanding into derivatives trading. The platform can be deployed out-of-the-box or customized and includes a real-time order management system, automated SPAN margin calculations, pre-trade validation, and post-trade monitoring for automatic portfolio liquidation. It integrates with futures commission merchants and executing destinations such as CQG and StoneX. ([devexperts.com](https://devexperts.com/news/futures-trading-platform-made-available-to-us-brokers-by-devexperts/?utm_source=openai))
- https://www.financialmarkets.media/financial-news/devexperts-announces-dxtrade-integration-with-dubai-based-liquidity-provider-amana/ – Devexperts has partnered with Dubai-based neobroker and liquidity provider amana to integrate its DXtrade platform. This partnership enables brokers licensing DXtrade to offer traders better access to global markets via amana’s liquidity solutions. Amana offers commission-free assets across markets, including equities, cryptocurrencies, forex, metals, and indices. The integration aims to enhance trading execution capabilities and provide a streamlined experience for traders. ([financialmarkets.media](https://www.financialmarkets.media/financial-news/devexperts-announces-dxtrade-integration-with-dubai-based-liquidity-provider-amana/?utm_source=openai))
- https://financefeeds.com/devexperts-launches-custom-built-trading-platform-dxtrade-institutional/ – Devexperts has introduced DXtrade Institutional, a custom-built multi-asset trading platform designed for banks, hedge funds, asset managers, and market makers. The platform is tailored using each customer’s existing platform as a foundation, allowing institutions to maintain control over pricing, risk management, and liquidity distribution while integrating a scalable, multi-asset solution with a modern user interface. It supports trading in spot, forwards, swaps, and options, offering direct trade execution alongside advanced risk management features. ([financefeeds.com](https://financefeeds.com/devexperts-launches-custom-built-trading-platform-dxtrade-institutional/?utm_source=openai))
- https://www.prnewswire.com/news-releases/devexperts-and-fpfx-launch-a-trading-competition-with-prizes-worth-75-000–301918040.html – Devexperts’ DXtrade, a trading platform for CFD, FX, and crypto brokers, and FPFX Tech, a technology company serving prop trading firms, have launched a free-to-enter global trading competition called DXcontest. The contest runs from September 25th to October 25th and offers prizes including the latest Apple gadgets for traders and up to 6 months free software license for brokers. The competition aims to entertain brokers’ personnel and traders of all levels without requiring real money deposits. ([prnewswire.com](https://www.prnewswire.com/news-releases/devexperts-and-fpfx-launch-a-trading-competition-with-prizes-worth-75-000–301918040.html?utm_source=openai))
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The narrative reports on recent developments, including APM Capital’s rebranding to Lunaro and the launch of Devexpress’ Event-Based Trading offering. The earliest known publication date for similar content is July 16, 2024, when BUX Holding sold its UK subsidiary to APM Capital. ([press.getbux.com](https://press.getbux.com/239500-bux-holding-has-sold-its-uk-subsidiary-bux-financial-services-limited-to-parent-company-of-apm-capital/?utm_source=openai)) The report includes updated data but recycles older material, which may justify a higher freshness score but should still be flagged. ([financemagnates.com](https://www.financemagnates.com/forex/brokers/breaking-bux-sold-its-cfds-offering-uk-entity-in-a-divestment-process/?utm_source=openai))
Quotes check
Score:
7
Notes:
The report includes direct quotes attributed to individuals such as Nick Spencer-Skeen and Joshua Owen. The earliest known usage of these quotes is from January 3, 2025, when Joshua Owen was appointed CEO of APM Markets. ([tradeinformer.com](https://tradeinformer.com/broker-news/joshua-owen-made-ceo-of-apm-capital-markets?utm_source=openai)) The quotes appear to be reused from earlier reports, which may indicate recycled content.
Source reliability
Score:
6
Notes:
The narrative originates from FX News Group, a reputable organisation known for its coverage of the forex and CFD industry. However, the report includes information from other sources, such as Finance Magnates and TradingView News, which are also reputable but may have varying levels of reliability. The inclusion of multiple sources adds credibility but also introduces potential for conflicting information.
Plausability check
Score:
7
Notes:
The claims made in the narrative, such as APM Capital’s rebranding to Lunaro and the launch of Devexpress’ Event-Based Trading offering, are plausible and align with recent industry developments. However, the report lacks supporting detail from other reputable outlets, which raises questions about the comprehensiveness of the coverage. Additionally, the tone and structure of the report are consistent with typical industry news reporting.
Overall assessment
Verdict (FAIL, OPEN, PASS): OPEN
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The narrative presents recent developments in the forex and CFD industry, including APM Capital’s rebranding and the launch of new trading offerings. While the information is plausible and sourced from reputable organisations, the reuse of quotes and earlier content suggests potential recycling of material. The lack of supporting detail from other reputable outlets and the inclusion of multiple sources with varying reliability levels further complicate the assessment. Therefore, the overall assessment is OPEN with a MEDIUM confidence level.