FNG Exclusive… FNG has learned that Australia based Retail FX and CFDs broker IC Markets has hired longtime industry executive Jason Hughes, as General Manager of its newly established operation in the UAE.

IC Markets, which is licensed in multiple jurisdictions worldwide, is not yet regulated in the UAE but is apparently looking at adding one of the licenses available, either Dubai DIFC or from the UAE’s SCA. IC Markets CEO and controlling shareholder Andrew Budzinski recently moved to Dubai from Cyprus, and the company has been slowly moving the nexus of its global operations to the UAE in recent months.

Jason Hughes had served as Senior Executive Officer in the UAE for eToro since 2022. Prior to his time at eToro, Jason worked at Exinity, where he had a similar role for the Cyprus based Retail FX and CFDs broker. He joined Exinity after serving as Global Head of Retail Sales and then Global Head of Sales at UAE based forex broker ADSS from 2017-2020. Prior to ADSS Jason worked at CMC Markets where he was Head of Singapore from 2013-2017. Jason began his online trading sector career at IG in 2005, rising to become Head of Premium Client Management in Singapore at IG.