For the second week in a row there’s news of a CFDs broker CEO moving on to a new role. Plus a number of other C-Suite management moves.

What did CFDs broker ATFX say was the reason behind the decision to close its ATFunded prop trading unit?

Who did MultiBank hire as its new head of marketing? From which rival MENA-focused broker?

Where did Zarvista CEO Mohammed El Alaoui Essosse move to?

Who did INFINOX hire as its new head of Partnerships?

Who was named Group General Manager at DB Investing?

Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:

Top FX and CFDs industry news stories this week

ATFX shutters prop trading unit ATFunded. It looks like the still-expanding retail prop trading phenomenon is not for everyone. Or, for every online broker. ATFX, which in early 2025 joined a number of other CFD brokers by launching its own branded prop firm unit called ATFunded selling trader evaluation challenges to retail traders, is apparently shutting down ATFunded.

CFDs broker WeTrade inks Houston Rockets sponsorship deal. Far East focused Retail FX and CFDs broker WeTrade, fresh off signing a sponsorship deal with French football club and Champions League winner PSG, is further expanding its sports portfolio announcing a new multi-year partnership with NBA club Houston Rockets. The Houston Rockets have long had a large fan base in China and among Chinese speakers worldwide, thanks to their nine year association with Yao Ming.

Scope Prime to launch White Label brokerage solution powered by Centroid. Offshore broker Scope Prime, which provides multi-asset liquidity solutions, has announced that it has partnered with broker tech provider Centroid Solutions to launch a new White Label brokerage offering powered by Centroid’s C2C Trading Platform. Through this collaboration, Scope Prime integrates Centroid’s C2C Trading Platform, a modern, multi-asset, mobile-first trading solution.

ATFX expands in LATAM with authorization for rep office in Colombia. Chinese Retail FX and CFDs broker ATFX has announced that it has secured authorization to establish and operate a Representative Office in Colombia. ATFX has been active in the LATAM region in recent years, recently opening a base in Mexico, and also maintaining satellite offices in Ecuador and Uruguay. The company also recently became Official Regional Sponsor of the Argentine Football Association ahead of this year’s FIFA World Cup.

CFDs broker USGFX, reps EuropeFX and TradeFred, hit with record $300 million in fines. While it is questionable if some (or any) of the fines will actually be paid, the Federal Court in Australia has ordered record penalties totaling AUD $300.2 million against collapsed contracts for difference (CFDs) issuer USGFX and its former authorised representatives for systemic unconscionable conduct and other contraventions of the law between 2018 and 2020.

Top FX industry executive moves this week

❑ Exclusive: MultiBank hires NCM/ATFX alum Ronald Rahme as Head of Global Marketing.

❑ Exclusive: INFINOX hires SquaredFinancial exec Nelly Kandil as Partnerships Manager.

❑ Exclusive: Zarvista CEO Mohammed El Alaoui Essosse departs, joins HFM.

❑ Exclusive: Syed Tanvir Ahmmed named Group General Manager at DB Investing.

❑ Exclusive: Crypto.com hires OKX alum Maria Allott to head Prediction Markets sales.

❑ Exclusive: DB Investing Head of Growth Reno Mindemann moves to Hantec Trader.

❑ XS.com hires Omar Alaa from Exness as Marketing Director MENA.

❑ Neobroker amana names Nikos Tsoskounoglou its Head of Quantitative Market Making & Research.

❑ RJO alum Melissa Zierk moves to IG US / tastytrade to head Legal and Compliance.

❑ MAS Markets hires ATFX exec Matt Porter as Head of Operations.

❑ Exclusive: ThinkMarkets MENA marketing head Yazan Taha joins BitDelta.

❑ Blueberry hires AvaTrade/Taurex alum Jeffrey Navarro as LATAM head.

❑ MultiBank announces passing of Keith Tebbutt.