FNG Exclusive… FNG has learned that Cyprus based Retail and Institutional FX broker TopFX has hired Muhammad Asim as Head of Global Sales. The move effectively replaces the vacancy left upon the departure late last year of Cyprus-based TopFX institutional sales head Michael Nichols, which was also exclusively reported by FNG. Mr. Nichols left TopFX to join forex and crypto broker technology provider Match-Trade, as Head of Sales.

With Muhammad Asim based in TopFX’s new Dubai office (headed by another recent hire, Tickmill alum Omar Al-Janabi), TopFX is continuing to move the nexus of its operations from Cyprus to the UAE, and from institutional FX services to retail, although the company does plan to promote its B2B all-in-one broker solution (focused on Spotware’s cTrader platform) from the UAE as well. In late 2020 TopFX launched an EU Retail FX site, after first going live with an offshore brokerage operation domiciled in the Seychelles.

Muhammad Asim spent the past year at tastytrade, the US based online broker which was acquired by IG, working as an Equity Options Trader which included teaching and giving online presentations about stock options trading. He has also worked at Dubai/India based broker PomeloFX.