Exinity, the parent company of brokerage brands Alpari and FXTM, has launched a new brokerage brand called Nemo.
The company is based in the UAE and is regulated by the Financial Services Regulatory Authority in Abu Dhabi.
SimilarWeb web traffic data suggests marketing for the new brand started in earnest in July, with a heavy focus on the UAE market.
The brand appears to be very mobile focused, with no desktop trading platform currently available on the broker’s website.
Like other players, the company appears to be using stocks as its primary onboarding method and is the main ‘focus’ of the brand. It’s worth noting that Nemo offers trading in cash equities, not just a CFD on the underlying stocks.
The broker’s website also lists crypto investments but if you actually follow through, you’ll see that the product is actually a CFD on different cryptocurrencies.
What is also striking is that the CFD offering is listed under a ‘boost’ tab. This is also the case in the Nemo app.
The launch of the app may be part of a wider strategic move on the part of Exinity. The brokerage group got rid of its CySEC license earlier this year and appears to have stopped onboarding clients via its UK entity for the FXTM brand. Alpari is still active but via the offshore Comoros region.
Going multi-asset has been common for a while now but it seems that Nemo is an attempt to create a brand that offers a variety of asset classes, rather than purely CFDs. Ultimately the goal is likely to be to cross sell CFDs to clients though.
