FNG has learned that leading Retail FX and CFDs broker EC Markets has hired experienced industry executive Omar Qumuq as Managing Director.

Omar Qumuq joins EC Markets in Dubai after spending the past two years with the Doo Group, serving as Head of MENA at Doo. He previously worked at STARTRADER, and at MultiBank.

Also joining Omar at EC Markets is Rohan Kumar, who served as a Sales Director at Doo Group in Dubai for the past two years. Rohan came to Doo with Omar from STARTRADER in 2023. He has also previously worked at Exante.

The Doo Group has seen a number of senior departures, since a call center operated by the company in Malaysia was raided by police in August, as part of a general crackdown targeting financial scams. We reported earlier this month that Doo Group’s D Prime operation had laid off its entire Cyprus based marketing department, among what we understand are other changes at the company.

About EC Markets

EC Markets operates licensed subsidiaries in London (regulated by the FCA), Australia (ASIC), South Africa (FSCA), and the UAE (SCA), as well as offshore entities in Seychelles and Mauritius. The group is run mainly from the UK, Cyprus, and Dubai, led by London based Group CEO Matt Smith.