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Gerald Segal

Gerald is the founder of FNG and is one of the most experienced writers covering the online trading sector. Prior to starting FNG, Gerald founded Forex industry B2B news website in 2010, selling it in 2018 to publicly traded Catena Media plc (STO:CTM). An avid skier, cyclist and ice hockey player, Gerald was previously an investment banker for more than a decade at Bear Stearns, Robertson Stephens, and Merrill Lynch. Gerald holds an MBA from Columbia University in New York and a BCOM degree from the University of Toronto.


  1. harvey k
    July 28, 2020 @ 12:19 pm

    i guess the way to make money in fx is to be a broker, not a trader. $ 300 million? wow


  2. sergei
    July 28, 2020 @ 5:21 pm

    this is not only broker doing IPO now


  3. Robert
    July 31, 2020 @ 3:51 pm

    300mil… 4 x revenue, comic, not one for the pool room ‘they’re dreaming’.


  4. Gerald Segal
    July 31, 2020 @ 4:33 pm

    Why dreaming, Robert? Look at the comps. IG is trading at 4.2x last 12 months revenues. And ThinkMarkets has been growing much faster. One of the reasons that FX brokers are valued at high revenue multiples (when doing well) is that they have super-high profit margins (again, when doing well), much higher than average financial companies. Just look at Plus500. If you prefer looking at a smaller comp, NAGA Group is trading at a valuation of about €85 million while projecting €22-24 million of revenue for 2020. So a pre-money valuation of $200-300M isn’t exactly off base for ThinkMarkets if revenues really are at $75M and growing. Thoughts?


  5. tradeer
    October 9, 2020 @ 3:11 pm

    if they could really go public they would have already. ipo market hot spac marekt hot. what are they waiting for. this was most likely a PR ploy, which Thinkmarkets also did a few years ago (i think they mention in article)


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