FX week in review: MarketsVox rebrand, strong results at Swissquote and CMC, executive moves
The post holiday break news stream continued at full volume in the FX and CFDs industry this past week, as FNG reported on a variety of broker results, a broker rebranding, and of course a long list of executive moves as companies positioned to tackle fairly ambitious 2024 business plans.
What was behind the rebranding of ForexVox as MarketsVox?
What did we learn from the fairly strong results covering the end of Calendar 2023 posted by some leading brokers including Swissquote and CMC Markets?
Which new B2B partnerships were announced this past week in the FX/CFDs sector?
Which executives found new homes, at iSAM Securities, 180 Capital, Zara FX, INFINOX, Pepperstone, Capex.com, and CFI?
Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:
Exclusive: Offshore CFDs broker ForexVox rebrands as MarketsVox. FNG Exclusive… FNG has learned that offshore Retail FX and CFDs broker ForexVox has rebranded as MarketsVox. The website url forexvox.com now redirects to marketsvox.com. The company said that the decision to rebrand is grounded in a multifaceted strategy aimed at better representing the extensive array of financial instruments offered by MarketsVox. While Forex has been a cornerstone, MarketsVox now extends its offerings to include indices, commodities, cryptocurrencies, and metals. The new name is a nod to the company’s commitment to evolving with the ever-changing landscape of financial markets.
CMC Markets shares soar 23% after FY2024 Trading Update. Shares of UK based online trading provider CMC Markets plc (LON:CMCX) were soaring on Monday, trading up by 23% as of the time of writing in early afternoon trading. Earlier today CMC Markets released its latest Trading Update for fiscal year 2024 (CMC has a March 31 fiscal year end), indicating a sharp rise in expected Revenues for the year following a disappointing first half (April-September 2023).
Finalto Asia and PrimeXM partner on APAC liquidity solutions. Finalto Asia and PrimeXM have announced a new strategic partnership, which the parties said will reshape the FX and CFD landscape in Asia and will aim to firmly establish exciting new liquidity solutions in the region through collaboration. Finalto Asia and PrimeXM are bringing together two industry leaders, leveraging their respective strengths to create a dynamic and comprehensive financial ecosystem.
Match-Trader trading platform integrates with TradingView. Cyprus based trading platform and tech solutions provider Match-Trade Technologies has announced that their multi-asset trading platform for Forex brokers, Match-Trader, is now integrated with social network and charting platform system TradingView. Brokers using Match-Trader servers can now leverage TradingView’s cutting-edge front end with its superb charting capabilities and a vibrant investment community.
Top FX industry executive moves reported at FNG this week included:
❑ CFI hires ex IG exec Louis Bridger as Head of Business Development.
❑ Exclusive: Zara FX adds B2Broker exec Kuldeep Mahindrakar as Strategy and Expansion Officer.
❑ Amana parent 180 Capital hires GTN exec Samer Abuzahra as CCO.
❑ iSAM Securities hires oneZero alum Dennis Weissert as Sales Director.
❑ Exclusive: Mitesh Vaghela named Chief Business Officer at Rostro Group.
❑ Webull appoints Anthony Denier as Group President.
❑ INFINOX hires Eurotrader exec Robert Collins as Head of Trading.
❑ Exclusive: Capex.com hires MultiBank exec Faisal Morrar as BizDev Manager in Dubai.
❑ iSAM Securities names Sam Johnson as Managing Director, Ryan Poole as CIO.
❑ Exclusive: Christina Barbash joins PrimeXM.
❑ Kathleen Brooks joins XTB as Research Director for the UK market.
❑ Exclusive: Compliance exec Dianah Njeri Igati moves from Scope Markets to Pepperstone.
❑ Exclusive: Harry Campbell-Lamerton steps off Valutrades Board.