Broker News

Danishkin joins NAGA from Admirals, where he was Head of Partnerships. He has held senior management roles at two other brokers in the FX/CFD industry.

Lokhandwala joins ADSS in their Dubai office. He was previously at fellow broker Accuindex and has sales experience at other firms in the UAE and India.

Robomarkets is the latest broker with headquarters in Cyprus to stop using its CySEC license to onboard clients for CFD trading in the European Union.

Demetriou joins the firm as Head of Client Management. He is the latest in a string of execs to join Onyx, who have prior experience at rival firms.

Heinrich was with BDSwiss for almost a decade, rising from an Account Manager to become Chief Sales Officer at the start of 2023.

eToro has built a new office in the country’s capital Tbilisi. The broker entered the country with the help of tech outsourcing firm Webiz.

Mihail Petkov joins Admirals as Head of Client Services. He was previously Head of Back Office in the Capital.com Cyprus office.

Ali Makki joined the brokerage – which is the retail arm of Finalto – at the start of this year. Makki was based in the group’s office in Lebanon.

Oranu spent almost six years at Blackwell Global. He joined the firm’s Cyprus office as a risk and liquidity manager, before being made a Director in 2021.

The Australian regulator said that FXOpen did not have the human resources necessary to run the firm and had breached other financial regulations.

Fernandes joined IG Group five years ago. He moved up from being a New Business Associate to become Team Lead Manager for the broker’s premium client desk.

IG Group acquired Daily FX from FXCM in 2016 for $40m. Trade Live with IG appears to be an attempt to mirror the success that tastylive has had in the US.

The new agreement means that NAGA branding will appear at Borussia Dortmund home games for this season and the following one.

Pilavakis was most recently at funded trader firm The Trading Pit. FunderPro is operated by Malta-based tech group Red Acre and has a B2B and B2C arm.

Plus500 launched futures trading in the US in earnest this year. The broker revealed several interesting bits of information in its most recent annual report.

The deal reflects the fact that the XTB MENA entity has been the fastest-growing branch in the brokerage group’s history over the last few years.

Alkhaldi announced he is leaving Tickmill after a decade at the firm as Regional Manager. He is the second exec to leave the broker in the last two months.

The funded trader firm has big growth plans and is in the process of setting up a CFD brokerage business. FTMO also seems to have operations in Cyprus.

Notional trading volume at Capital.com also rose to $725bn in H1, with the broker increasing its tech and engineering headcount across the EU and UK.

Sebbata was the CEO of BUX UK previously and was instrumental in the APM Capital acquisition of the stockbroker’s UK entity, which he will now oversee.

Taurex is the latest broker to launch a prop firm, with providers including IC Markets, Axi, and OANDA already offering a funded trader product.

The new Exinity brand is regulated in the UAE and offers trading in cash equities and CFDs. Marketing appears to be focused on clients in the UAE.

Saxo Bank said that it will close its office in China in its latest half-year financials. The broker’s majority shareholder is Chinese car manufacturer Geely.

eToro has already partnered with numerous football teams. This will be very similar, with plenty of branding opportunities for the broker and access to VIP tickets for clients.

Last year Century Financial was voted number two in the list, which is put together by workplace analysis and research company Great Place to Work.

According to a recent CFD industry report, ATFX was the fourth-largest broker, in terms of trading volumes, on MT4 and MT5 over the course of Q2 2024.

Going joins Britannia Global Markets from Capital.com. He has also had stints at IG Group, ETX Capital, and LMAX. His new role will be institutionally focused.

Poynter joins OneRoyal from HYCM, where he was Chief Marketing Officer. He has also had stints at FxPro, EasyMarkets, ATFX, and Axiory.

The new offer means that brokers can hold large net open positions with Match-Prime in a wide range of small and large cap cryptocurrencies.

Kasraei joins iSAM from Hidden Road, where she spent just under two years. She has almost two decades of experience working with financial institutions.

ATFX has added MetaTrader 5 to its offering, meaning its clients globally can trade on the platform. The broker will continue to offer MT4 as well.

The decision may be related to the fact that Eightcap has been one of the main providers of gray label services to prop trading companies.

The company will provide trading in oil swaps to retail clients, with the firm led by ex-IG Group executive Andrea Rebusco.

Fetherston has been appointed General Manager of the new prop trading brand, having spent several years working with props at Eightcap and PropTradeTech.

McCarthy spent over a decade at retail broker CMC Markets and will link up again with Biyi Cheng, who recently joined Moomoo AU as country head.

CFI Financial has acquired AzFinance İnveŞtisiya Şirkəti, an Azeri-regulated broker. It means CFI is the first foreign brokerage to acquire a license in Azerbaijan.

Having the ODP license means Exness can offer trading in CFD products and act as counterparty to trades. The license was introduced by the FSCA in 2018.

This is the second major product launch for 26 Degrees, an Australia-headquartered prime of prime, in the last month, following its new Pairs Trading product.

James Watts has joined Taurex in their Dubai office. Watts has held sales roles at several brokers, including Swissquote, London Capital Group, Alpari, and MultiBank.

Zino is the latest in a string of senior executives to join ATFX Connect – the institutional arm of brokerage group ATFX – in its Dubai office.

Hantec Markets has rebranded its website and improved its prime offering. The broker is also planning to improve several products by the end of 2024.

Holding the Type 3 license from the Hong Kong regulator means that ATFX can offer clients trading in leveraged foreign exchange contracts.

The deal means that Baader Bank will act as intermediary to the Spectrum Markets exchange. Baader Bank clients include retail brokers like Scalable Capital.

The partnership means ThinkMarkets clients can connect their account to their TradingView account, then trade that account using TradingView charts.

Rostian joins from Maybank’s prime broker team and is the second major hire that Scope Prime has made in the last two months for Asia region.

Lee joins SquaredFinancial from ADSS, where he spent almost a decade heading up the broker’s Asia-Pacific division. He has also had stints at FXCM and Saxo Bank.

The partnership means that Trive SA can use Finalto’s ODP license to offer trading in OTC products to retail clients and use their liquidity.

We speak Hantec Markets Chief Strategy Officer Norayr Djerrahian about investment banking, new product launches, and what a Chief Strategy Officer really does.

Forex brokers in Malaysia are being targeted by local police, even if they have the legal set up in place to do business there.

Abbott has been with OANDA for almost six years and has been promoted on several occasions since then. The company’s UK entity did £16m in sales in 2022.

Razan Jawabreh was most recently Deputy CEO Business Development at CFI Financial. Daman Markets is the CFD division of UAE broker Daman Securities.

BUX had ceased to be active in the UK for some time. The broker switched focus to commission-free equities and was recently acquired by Dutch bank ABN AMRO.

eToro US CEO Lule Demmissie has stepped down from her role at the broker. She will be replaced by Andrew McCormick, who has been with the firm for almost 3 years.

Long-time industry executive Mohammad Mokhtar has joined ADSS as a Senior Relationship Manager. Mokhtar joins ADSS from Amana, where he…

Cicci de Moura joins MAS Markets from Valutrades, where he spent over four years, primarily on the LATAM sales desk.

FunderPro is a prop trading company based in Malta, with a B2C and B2B arm. Kalaitzis has worked at tech providers, brokers and a prop.

Scope Markets non-leveraged CFDs on equities have proven an initial success, with uptake on both the B2B and B2C side.

The company has yet to go live but has set up a dormant website. Daniel Takieddine was most recently BDSwiss MENA CEO and also spent 6 years at ADSS.

Exness Team Pro has added Adrian Nardelli and Bran Desalcedo to its ranks. The pair are based in Argentina and Colombia respectively.

The new product means 26 Degrees customers can let their clients trade two underlying assets, like stocks or indices, against one another.

CMC Markets Capx provides broking services to public and unlisted businesses. The new division seems to primarily work with UK small caps.

Tarek Mahassen will work in the Capital.com office in Dubai, alongside the broker’s regional CEO Tarik Chebib.

PrimeXBT has a good product, good mix of assets and has a good team. So it may be that they become the next big broker in the industry.

Singh was previously at Capital.com but began his career at Spread Co over a decade ago and spent close to six years with the firm.

Olymp Trade has almost 90m users. But who owns Olymp Trade? How do they make their money? We reveal all in this new edition of our ongoing miniseries.

In this episode of the TradeInformer Podcast we speak to PipFarm Founder James Glyde. We ask if props hedge, marketing costs, and more.

Prop trading firms can make a lot of money from challenge fees. This means they probably don’t actually have to make any real trades.

Williams joins Capital.com from IG Group, where he spent almost six years working on the broker’s premium client management desk.

IG Group’s US offering – IG US – has rebranded to tastyfx. The rebrand means that the group’s FX offering fits with the wider tastytrade brand.

The ex-NatWest prime sales executive is the latest in a string of senior hires by brokerage group ATFX.

We speak to Joy Dabeet, Chief Marketing Officer at Amana, about her background, life at Amana, and what makes traders in MENA tick.

PrimeXBT is a huge broker. We look at who runs the company, their product, and how they managed to get so big.

Naik will work from the Hantec Markets office in Dubai. He is the latest in a string of senior executives to have joined from rival broker Infinox.

Trading 212 has acquired a Crypto Asset Services Provider license in Cyprus, allowing them to add physical crypto trading in the European Union.

Revolut has partnered with CMC Connect to offer CFD products, as well as the other securities that the broker offers to institutional clients.

Taylor will set up the Scope Prime office in Sydney and be responsible for driving business for the LP in the Asia-Pacific region.

The headline ‘funded account’ figure that prop firms offer is less relevant than the drawdown rules the prop imposes on its clients.

The new product launch includes the addition of around 250 single stock CFDs, which can be traded in the Scope Markets non-leveraged accounts.

More than 1,700 ETFs can now be traded on Spectrum Markets, with German firm ICF Bank acting as market maker for the new products.

Wale will lead the iSAM Securities sales team’s efforts in EMEA, expanding the group’s existing offering and driving new business.

IG Group has launched a trading tournament for French clients, which is set for late June. The challenge has prizes and will take place on demo accounts.

Trade.com has become the latest broker to offer a funded trader programme. The offering is via a Cypriot-based entity.

Baker was previously Head of Premium Clients at Capital.com. He also spent close to seven years at OvalX, which collapsed in early 2023.

FX/CFD broker ThinkMarkets is launching a prop firm or funded trader programme. The broker previously provided services to other props using a gray label.

ATFX saw a surge in year on year trading volume in the first quarter of 2024. The broker said precious metals trading was a big part of that growth.

tastytrade is holding an event in London in early June with Cboe and CME Group, meaning the launch will align with that.

Restrepo has a decade of experience in the FX/CFD industry, including a six year stint at ETX and three years at Eurotrader.

The broker has applied to cancel its license with the UK regulator. The UK is an increasingly operationally and financially burdensome market for brokers.

FTMO has big plans to expand into the retail broker space. Kamerman was previously CEO of Skilling and spent over 15 years at FXCM.

James Gavin joins the London office from Standard Chartered, with Richie Westerlind and Nathalie Bijlsma both working on the company’s Florida desk

Capital.com CEO Kypros Zoumidou has stepped down from his role at the retail broker. He replaced outgoing ex-CEO Peter Hetherington at the end of 2023.

True Forex Funds has shut down, just three months after its license was revoked by MetaQuotes. The firm had relaunched subsequently.

Andy Francos was formerly Head of SEO at IG Group and Commercial Marketing Director at Capital.com. His new firm – Be Franc – provides a range of services.

AvaTrade has launched a new futures offering called AvaFutures, becoming the latest CFD broker to branch out into offering exchange-traded derivatives.

ATFX has made several major hires since the start of the year, with combined experience in the FX/CFD industry that exceeds 100 years.

Tickmill Founder Ingmar Mattus has Co-Founded a new options and futures broker called MetroTrade, which targets retail clients in the US.

ATFX has hired Siju Daniel from FXCM. He is the latest in a string of high profile hires that ATFX has made over the last six months.

Exness plans on launching a crypto product, which involves the trading of physical crypto. The company already has a stake in crypto ECN Crossover Markets.

Exness has formed a partnership in LATAM. But why does Exness need La Liga? And why does La Liga need Exness? It comes down to expansion and marketing deals.

Andrew Budzinski has relocated to Dubai. The IC Markets founder and CEO was previously a Cypriot resident.