Exclusive: Matthew Kent leaves Valens for offshore FX broker Eurotrader
FNG Exclusive… Continuing a trend of “moving offshore” in the Retail FX sector which we have extensively covered, FNG has learned that experienced FX Sales executive Matthew Kent has joined offshore Retail FX, CFDs and crypto broker Eurotrader, as Eurotrader’s new Director – Institutional Sales.
Matthew Kent had been with London based private investment bank Valens for the past year, as Global Head of Sales – Capital Markets. Prior he had been in various senior sales roles at retail forex brokers Infinox Capital, City Index, and CMC Markets.
Eurotrader is an offshore (domiciled in Republic of the Marshall Islands) broker offering MT4/MT5 leveraged trading in a variety of financial instruments. The company is managed out of London and Limassol, Cyprus.
As noted above, we have seen a large move “offshore” by both brokerage executives and traders in recent months. As national regulators in the UK, EU and Australia have clamped down on everything from leverage to deposit bonuses, offshore brokers have stepped in to offer more “generous” terms for traders. And despite the much higher risks of dealing with an offshore broker – i.e. there is no real regulator to turn to if things go wrong – many traders are continuing to move to offshore brokers.