Oxtail Holdings, led by Canadian entrepreneur Samuel Katallah, has announced its intention to work with Canadian regulators to explore the first formal registration pathway for a prop trading firm operating in the forex industry.
AuraXtail has signaled plans to present its model to the Alberta Securities Commission (ASC) as part of an exploratory registration process—an industry-first effort in the forex prop trading sector. The company acknowledges that regulatory engagement is a long-term process and does not guarantee immediate outcomes, but believes that starting this dialogue is critical for trader confidence in the space.
Recognizing that the prop trading industry remains largely unregulated, AuraXtail’s leadership has made transparency and third-party verification central to its model—marking what could be the start of a new standard for fairness and accountability in the industry.
The Regulatory Oversight
Led by Katallah, prop firm AuraXtail is about to introduce a regulatory structure that other CFD firms will most likely be expected to follow very soon. The firm’s presented model includes several key elements:
- CPA-licensed and CPAB-Regulated Auditors:
AuraXtail plans to engage licensed CPA firms to provide independent audit services aimed at validating its use of live trading capital and payout processes for qualified traders. The firm intends to publish selected audit outcomes to provide transparency to their traders, while ensuring compliance with privacy and disclosure laws.
AuraXtail has also committed to publicly disclosing its cash flow plans, outlining the percentage allocation of evaluation fees toward operational costs, live trading margin, and stakeholder dividends. Touching on stakeholder dividends, the firm has indicated that its profit model relies on alternative profit streams, with minimal reliance on profits derived from evaluation fees for directors and its investors. Compliance with this model will be verified through regular audits conducted by the Canadian auditing firms, ensuring that AuraXtail remains accountable to its publicly disclosed financial commitments.
- Escrow Services:
AuraXtail has outlined plans to implement real-time verification metrics and third-party controls over evaluation fee management and payout processes, aiming to work towards a trustless prop model. - Innovative Software by Aura X:
AuraXtail’s technology division, Aura X, is developing verification tools designed to provide traders and firms with immutable records of trade execution, pricing data, and payout conditions—reducing the risk of disputes and improving operational transparency. - Pursuing ASC Registration:
Oxtail Holdings has announced its intention to explore formal registration with the Alberta Securities Commission (ASC). While this process is in the exploratory stage, the company has stated its commitment to aligning its model with recognized governance and compliance standards, regardless of regulatory outcomes.
In addition to this regulatory model, AuraXtail promises no payout restrictions or waiting times. The introduction of the new Aura X Debit Card and payment system enables same-second payouts, transforming how traders access their earnings.
The Dream
AuraXtail’s leadership acknowledges that long-term growth may include expanding into additional asset classes and markets, but for now, its focus remains on building a verifiable, transparent prop trading model in the forex and CFD space.”
Patient Endurance
Behind AuraXtail’s regulatory push is founder Samuel Katallah, whose entrepreneurial journey spans industries from renewable energy to e-commerce and financial services. Drawing on lessons from early business ventures and prior prop trading initiatives, Katallah credits his persistence and faith as key drivers behind AuraXtail’s mission to reform the industry.
One of his early milestones in the financial sector included signing top-ranked FTMO trader Bernd Skorupinski, who remains an inspiration behind AuraXtail’s focus on trader-first accountability. Katallah has openly described previous ventures, including VST, as learning experiences that shaped the firm’s current direction. Plans to evolve that earlier platform into a free trading database—designed to aggregate market execution data without relying on evaluation fees—are also under consideration.
With AuraXtail, Katallah’s focus is now centered on building a transparent and verifiable model that could set interesting standards for the prop trading industry. As the regulatory discussion for prop trading now begins to shift, AuraXtail is leading by example—building a model that traders and regulators alike can trust as a blueprint for the future of proprietary trading.
