FX week in review: GKFX rebrands, Man United gets FX sponsor, eToro’s #2 leaves

Gerald Segal 0 Comments January 8, 2023

The first working week of 2023 was certainly an interesting one in the world of Retail FX and CFD brokerage, with some familiar names changing places, some old competitors now partnering, and one of the most recognized brands in the business now gone and replaced.

How is GKFX (and its B2B arm GKPro) now known?

Which Retail FX broker became the official online trading sponsor of Manchester United?

Which senior executives left eToro (Deputy CEO) and easyMarkets (CMO)?

What is the nature of the new partnership between LCG and IG Group?

Answers to these questions, and a whole lot more, appeared first or exclusively this past week at FNG. Some of the most read and commented-on FX industry news stories to appear over the past seven days on FNG included:

Exclusive: GKFX rebrands as Trive, hires eToro alum Dennis Austinat as MD DACH Region. FNG Exclusive… FNG has learned that Retail FX and CFDs broker GKFX has been rebranded as Trive, with visitors to gkfx.com or gkfx.eu now rerouted to trive.com. The company’s FCA licensed B2B institutional arm, GKPro, has been renamed TrivePro, with its website url now changed to trivepro.co.uk, and the UK corporate entity renamed Trive Financial Services UK Limited.

Doo Group becomes sponsor of Manchester United. Iconic UK soccer club Manchester United and online financial trading platform Doo Group have announced a multi-year global partnership, whereby Doo Group will become the official online financial trading platform partner of ManUtd. The partnership with Doo Group will involve the promotion of Doo Group and its sub-brands, Doo Financial and Doo Prime. Headquartered in Singapore, Doo Group has operating centres in Dallas, London, Sydney, Hong Kong, Dubai, and Kuala Lumpur, as well as other major cities around the world.

LCG adds IG Group trading platform. London based online brokerage firm London Capital Group (or “LCG”) has announced that it has signed a new partnership with IG Group (LON:IGG) to leverage IG’s platform, pricing and execution. LCG said that as part of the new evolution of the company it will be partnering with industry-leading providers, so that its clients can access the best products, technology and pricing from across the financial markets.

Exclusive: Publicly traded Retail FX/CFD brokers see (very!) mixed results in 2022. As we wrote in our Top FX/CFD industry news stories of 2022 year-end review, it was very much a haves versus the have-nots FX/CFDs industry last year – with some brokers month after month setting client trading volume (and revenues and profit) records, while others faltered. And that theme seems to be very much in play as well when we look at how the publicly traded FX and CFD brokers fared over the past 12 months.