Retail brokerage group Hantec Markets announced on Wednesday that it has hired Raphael Marsusa as its new Regional Manager for Brazil.
Marsusa joins the firm from rival broker INFINOX, where he was also working on the Brazil market for the last two and a half years.
He has also held sales roles at IronFX and City Credit Capital.
LATAM has become an increasingly popular region for brokers to target over the last few years.
Exness opened an office in Montevideo at the start of 2023. XM also has a based of operations in the Uruguayan capital.
Given the size of its economy and population, Brazil is a natural target for firms. The country has also been legalising online gambling. The traffic and appetite for this industry often overlaps with online trading.
Hantec Markets has been targeting Brazil in particular over the last 12 months or so, with the company signing agreements with at least one major IB in the country.