FX week in review: FXCM name change, Zenfinex rebrand, HonorFX sells clients, MT5 upgrade
What corporate name change is happening at FXCM? (And, what about the FXCM brand itself?)
What did Retail FX and CFDs broker Zenfinex rebrand as?
Who did Dubai based, offshore broker HonorFX sell its client base to?
What changes are in store for the MT5 trading platform, in what FNG has learned is effectively the largest upgrade of MetaQuotes’ popular trading platform in recent years?
Some of the most read and commented-on FX industry news stories to appear over the past seven days on FNG included:
FXCM UK changes name to Stratos Markets. Forex Capital Markets Limited, the UK subsidiary of the FXCM Group, has changed its name to Stratos Markets Limited. FNG has also learnt that the Cyprus-based FXCM business, FXCM EU Ltd, has recently changed its name to Stratos Europe Ltd. What did management have to say about the FXCM brand itself? We explain what’s going on at the Jefferies Financial-controlled company, exclusively at FNG.
Zenfinex rebrands Retail FX arm to Taurex. Retail FX and CFDs brokerage Zenfinex has announced a rebrand for its retail business to its new name Taurex – a move the company said was made to better reflect the company’s commitment to offering a robust trading ecosystem to all levels of traders around the world. Zenfinex’s rebranding comes just a week after the company parted ways with its Global CEO, Matthew Wright, who joined rival broker Exinity as COO, as was exclusively reported here at FNG.
Orbex acquires Retail FX clients of HonorFX. Retail FX and CFDs broker Orbex has announced that it has entered into a “partnership agreement” with offshore broker HonorFX, which will effectively see Orbex acquire HonorFX’s client base. It remains unclear what will now happen to the HonorFX brand. HonorFX, which is based out of offices in Dubai but is registered offshore (Mauritius and Malaysia), services clients primarily from the Middle East, North Africa and Asia.
Exclusive: MT5 major upgrade coming – integrated payments, trading analytics, interface update. FNG Exclusive… FNG has learned that leading trading platform provider MetaQuotes is getting set to formally unveil what is effectively the largest upgrade of its popular MetaTrader 5 (MT5) trading platform in recent years. The main features of the upgrade include integrated payments, powerful trading analytics, and a new reports format for traders. MetaQuotes is also likely to announce a redesign of the MT5 trading platform, with a major interface update.
Top FX industry executive moves reported at FNG this week included:
❑ iSAM Securities hires UBS alum Sam Johnson as Global Head of Sales.
❑ Exclusive: More M4Markets departures – UAE CEO Rasha Gad, Chief Dealer Tassos Skordis (to Eurotrader).
❑ The Trading Pit adds Dr. Artem Lomakin as Chief Innovation Officer.
❑ Fortex hires Tickmill alum Kiri Nicola as Senior Sales Manager.
❑ Exclusive: HonorFX BizDev manager Muhammad Junaid Muneeb moves to ICM.
❑ Exclusive: Outbrain alum Ido Yerushalmi joins Zotapay as CRO.
❑ Marex hires BofA exec Mark Daniels as Head of Prime Services.