Exinity – which owns Alpari and FXTM – will use TraderEvolution technology and its trading engine to power its backend systems.

PiP World Founder Saad Naja has had stints at Paddy Power, crypto broker Kraken, as well as at GAIN Capital – the owner of City Index and Forex.com

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.