Who bought FX industry blog FinanceFeeds?
What is IG‘s newly launched ad campaign all about?
What did offshore FX broker 4xCube rebrand as? (And why?)
For which company did MetaQuotes lead a $6 million funding round?
Who did TeraFX hire from ATFX to kickstart its Dubai operation?
Which two executives did New Zealand FX broker CJC Markets hire to get its MENA operation going?
What happened behind the scenes in the days leading up to the bankruptcy of USGFX in Australia?
Answers to these questions and a whole lot more appeared first or exclusively this week at FNG. Some of the top forex industry news items to appear on the pages of FNG this past week included:
Exclusive: FX news blog FinanceFeeds sold. FNG Exclusive… FNG has learned that FX industry news website FinanceFeeds (financefeeds.com) has been sold. FinanceFeeds was started as a personal FX blog by Andrew Saks-McLeod in 2015. Mr. Saks-McLeod had previously been a writer for other forex blogs including Leaprate and FinanceMagnates (then known as ForexMagnates). Most of the writing on FinanceFeeds over the past several years has been done by Bulgaria based writer Maria Nikolova, who had worked with Mr. Saks-McLeod at Leaprate. FNG has learned that Mr. Saks-McLeod sent out a note yesterday to some of FinanceFeeds’ current and previous advertisers with news of the sale.
Exclusive: IG Group enters second phase of rebranding: See It IG It. FNG Exclusive… Following on our earlier exclusive report from early June, that leading UK online broker IG Group was busy rebranding, FNG has learned that IG is heading into Phase 2 of the rebrand with new ad campaigns being launched in the coming days. Back in June, we reported that IG had redone its longstanding logo, and upgraded its website. The rebranding had (and has) a lot to do with IG’s move to mobile, and the generally increasing use of mobile devices by retail traders when it comes to online financial trading. Now, FNG has learned that IG is getting ready to launch a few new ad campaigns.
Exclusive: Offshore FX broker 4xCube rebrands as 4XC. FNG Exclusive… FNG has learned that Cook Islands domiciled Retail FX and CFDs broker 4xCube has rebranded to 4XC. All visits to 4xcube.com now redirect to 4xc.com, with the company also launching newly branded social media channels on Facebook, Twitter, LinkedIn and Instagram. 4xCube / 4XC was founded in 2018 by Portuguese entrepreneur Joao Monteiro. Before 4XC Mr. Monteiro was previously with Cyprus based brokers Royal Financial Trading, FxPro and JFX.com and London based Valutrades in a variety of sales and managerial roles.
MetaQuotes leads $6 million funding in KYC/AML co Sumsub. Regtech SaaS provider Sumsub (formerly Sum&Substance) has raised a $6 million Series A funding round from a group of strategic investors to accelerate the global expansion of its machine-learning platform for user onboarding and KYC/AML compliance. The round, led by Cyprus-based forex trading platform developer MetaQuotes, also involves a group of strategic investors, and several existing investors, including Ilia Perekopsky, VP of Telegram messenger. By providing an efficient AI-powered identity verification and compliance risk management toolkit Sumsub said it fundamentally changes how companies assess their corporate and individual clients, it even can affect how firms deal with crypto.
Exclusive: USGFX bankruptcy discussions began in late June. FNG Exclusive…. FNG has learned more details of the lead-up to the bankruptcy of Union Standard International Group Pty Ltd, which operated the USGFX Retail FX brokerage brand in Australia. New disclosures made in Australia by the company’s administrators-turned-liquidators BRI Ferrier shed more light on what happened in the days leading up to July 8, when Union Standard filed for voluntary administration. The disclosures also give some more color to the problems which BRI Ferrier has faced in trying to deal with the company’s shareholder Soe Hein Minn.
In FX industry executives moves and news this week:
❑ Exclusive: Invast adds Michelle Dick as Senior Marketing Advisor.
❑ Exclusive: TeraFX adds ATFX exec Mohamed Halim to head MENA bus dev.
❑ Exclusive: CJC Markets hires Mohamed Elsergany as Regional Manager MENA.
❑ Exclusive: CJC Markets adds Yasir Mubarak to head global institutional sales.
❑ Exclusive: Tarek Aljneidi leaves ThinkMarkets for crypto exchange EXMO.
❑ BlackBull Markets hires Anthony Murphy as Head of Sales NZ.
❑ Exclusive: Phillip Futures names Thair Hussain as Executive Director.
❑ Alpha FX executives cash out £35 million in secondary share sale.