FX week in review: Global Prime sold, Afterprime launch, Robinhood in UK, iS Prime becomes iSAM Securities

Gerald Segal 0 Comments December 3, 2023

Who acquired ASIC licensed Retail FX and CFDs broker Global Prime?

Who launched new Retail FX and CFDs brokerage brand Afterprime? Which CySEC CIF licensed entity did Afterprime buy?

What are US neobroker Robinhood’s plans to launch service in the UK?

Where did experienced industry marketing executive Helen Astaniou land, more than a year after leaving her position as CMO of TIOMarkets?

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

Exclusive: Global Prime sold, owners Jeremy Kinstlinger and Elan Bension start Afterprime. FNG Exclusive… FNG has learned of a number of changes in the Australia Retail FX and CFDs sector, with a number of transactions occurring between some fairly well-known names and brands in the business. At the center of the transactions are Jeremy Kinstlinger and Elan Bension, who together co-owned and co-ran ASIC licensed broker Global Prime since 2012. In 2020 the pair brought in former IC Markets senior executive Angus Walker as General Manager of Global Prime.

Robinhood launches in the UK. After a failed attempt back in 2020, US app-based neobroker Robinhood (NASDAQ:HOOD) has formally launched brokerage services in the United Kingdom. The company said that its expansion to the UK marks an important milestone in its journey to democratise finance around the globe and increase access to the markets for all. The launch comes after Robinhood started posting for key positions in the UK a few months back, and after the company hired Freetrade EU head Jordan Sinclair as new UK CEO.

Exclusive: iS Prime rebrands to iSAM Securities – a chat with Alexander Lowe. FNG Exclusive Interview… We’re pleased to speak today with iSAM CEO Alexander Lowe on iSAM Securities’ year of transformation. Since 2014, iSAM Securities has been a market leading provider of bespoke liquidity solutions, trading technology and risk consultancy services across the globe. Within the last year, the brand evolved by combining its iS Prime and iS Risk product lines under the overarching name of iSAM Securities. This was initiated to more closely align iSAM Securities with its parent company, $5bn systematic hedge fund manager, iSAM.

Exclusive: Zenfinex posts £1.9M loss in 2022 before Taurex rebrand. FNG Exclusive… FNG has learned via regulatory filings that FCA licensed broker Zenfinex Limited has posted a Net Loss of £1.9 million on Revenues of just £397K in 2022. The loss was slightly higher than the £1.8 million that Zenfinex lost in 2021, on Revenues of £239K. The losses come as Zenfinex has rebranded its Retail FX and CFDs business to Taurex, both for its UK operation and its offshore (Seychelles) business, that now both run from website tradetaurex.com. The group’s B2B business still operates under the Zenfinex brand, from website zenfinex.co.uk.