FNG Exclusive… FNG has learned that a new technology startup catering to the Retail FX and CFDs brokerage sector has launched in Cyprus, called Finyard. And the company has begun to staff up, including the addition of a number of fairly well known and experienced senior executives, from a number of the larger Cyprus-based brokerage groups.

Joining Finyard as its Group Chief Marketing Officer (CMO) is Rachel Demosthenous (pictured above). Rachel spent the past five years as CMO of Retail FX broker XM and its sister brand Trading.com. She had previously worked as CMO for London Capital Group, and as Marketing Manager at easyMarkets.

Finyard has also recently added Sergey Yarovoy as Chief Commercial Officer (CCO). Sergey joins Finyard from Exness where he was Head of Affiliates for Exness’ very successful affiliates program for the past five years, helping grow Exness into the world’s largest online broker. Prior to joining Exness, Sergey worked at Alpari.

Finyard has also hired Mario Masoud as Head of Product. Mario joins Finyard after working the past six years at FxPro, most recently as Head of Product.

Finyard is getting set to launch a number of products for Retail FX and CFD brokers, including a proprietary SaaS based copy trading platform, iOS and Android mobile trading apps, and a trading platform solution which includes TradingView integration. The company is also planning various back office systems such as CRM, sales management, tracking and automation, and e-signature applications.

Finyard CEO Dmitrij Pruglo said of the launch of Finyard in Cyprus:

“For Finyard and our people, this launch represents the culmination of years of hard work, and the next step in realising our vision of empowering users in the FinTech space, through simple and innovative applications backed by the latest ground-breaking technology. Over the last decade or so, Cyprus has grown to become a powerful financial and tech hub, attracting some of the best talent from around the world, making the decision to launch Finyard here a no-brainer, and an important part of our future growth strategy.”

Finyard was established earlier this year by CEO Dmitrij Pruglo and CGO Tim Voronin, who together ran broker tech solutions provider Covesting for the past seven years. Dmitrij and Tim previously worked together at Saxo Bank.