FNG Exclusive… FNG has learned that Jean-Raphael Nahas has left his position at neo-broker BUX, to start a new advisory firm targeting the online trading brokerage space in Cyprus, called 357 Group.

Jean-Raphael Nahas joined BUX in early 2022 to head the company’s Cyprus office and CFD operations, after BUX acquired a CySEC licensed entity called Hua Ren (Cyprus) Financial Ltd (which was set up in 2019 by China based investors, but never formally launched operations). The company was renamed BUX Europe Ltd, and Mr. Nahas came in as Managing Director to run the business. The company soon-after rebranded its CFD trading app as Stryk.

Prior to joining BUX, Jean-Rapahel Nahas worked at Blackwell Global as Head of Business Development in Cyprus, at FX88, and at IMS Markets. He also serves as an Industry Board Member at the University of Portsmouth.

It appears as though Mr. Nahas’ new project, 357 Group (with 357 being the country calling code for Cyprus), will look to consult to FX and CFD brokers (and others) in the areas of licensing, banking and client payment solutions, tech integration, brokerage building and branding.