FX week in review: TopFX launches Retail, Juventus gets FX sponsor
Forex industry news this week was dominated by executive moves involving many of the key brokerages and technology/service providers in the sector – IG, CMC, Swissquote, oneZero, Public.com…
Who is Swissquote‘s new Head of Germany?
Who did Accuindex hire to head its new licensed operation in Cyprus?
Who did oneZero hire from Invast to expand its footprint in Australia and APAC?
Who did Finxflo hire from PrimeXM to head sales?
Why did the CEO of Malta’s regulator MFSA resign?
All of these executive moves and lots more were reported first or exclusively at FNG.
Also this week we have leading FX tech and brokerage services provider TopFX getting into the Retail FX business itself, yet another FX-football sponsorship, news about new trading platforms, and lots more. Some of the top forex industry news items to appear on FNG this week included:
Exclusive: TopFX launches offshore Retail FX site. FNG Exclusive… FNG has learned that Forex broker platform and solutions provider TopFX has taken the first major step toward becoming a full-fledged Retail FX and CFDs broker itself. We have learned that TopFX has now gone live with its retail trader oriented site topfx.com.sc. The website, sporting a “.com.sc” Seychelles url, is being operated by TopFX offshore subsidiary Fondex Limited which is licensed by the Financial Services Authority (FSA) of Seychelles. The site offers trading on both the cTrader and MT4 trading platforms.
Exclusive: CAPEX.com to sponsor Italian football club Juventus. FNG Exclusive… FNG has learned that yet another top-rung European football squad has landed a Retail FX broker sponsor. This time, it is CySEC-licensed CAPEX.com, and iconic Italian football club Juventus. CAPEX.com will become Juventus’ Official Online Trading Partner. Throughout the multi-season partnership, CAPEX.com will have use of an extensive list of rights, including VIP hospitality and official club merchandise to engage Juventus supporters and bring them closer to their club. CAPEX.com is owned by Key Way Group Ltd, a Gibraltar domiciled fintech investment group.
FlowBank launches investment and trading platform FlowOne. First at FNG… Geneva, Switzerland based online bank and trading firm startup FlowBank has announced the launch of its new investment and trading platform FlowOne. This fully digital solution by Switzerland’s newest bank allows investors and traders worldwide to access a broad range of asset classes via a unique multi-currency bank account. FlowBank’s FlowOne platform is based on technology from banking and trading software developer Temenos (SIX:TEMN). We had earlier reported that FlowBank has selected Temenos Transact delivered as SaaS to power its new Swiss digital bank.
MFSA CEO out, Chief Counsel in, following Vegas trip investigation. Malta financial regulator MFSA has announced that CEO Joseph Cuschieri has resigned his post following the conclusion of an investigation led by former Malta Chief Justice Joseph Azzopardi. The regulator’s General Counsel, Edwina Licari, will apparently be reinstated to her role after she (and Mr. Cuschieri) voluntarily suspended themselves pending the results of the investigation. The investigation was initiated by the MFSA’s board earlier this month after media reports surfaced in the country that Mr. Cuschieri and Ms. Licari had gone on an all-expenses-paid trip to Las Vegas with Maltese businessman and casino owner Yorgen Fenech in May 2018.
As noted above, this week’s coverage included an inordinate number of FX industry executive moves, with all the key hires reported first or exclusively at FNG:
❑ Exclusive: Finxflo hires PrimeXM’s Alex Christofi as Sales Director.
❑ Exclusive: IG and CMC alum Alex Maslin joins Copper.co.
❑ Accuindex hires Husein Al-Koofee to head Cyprus operations.
❑ Karim Yakhloufi moves from Strateo to Swissquote to cover Germany.
❑ Exclusive: ex Revolut exec Andreas Kapsos joins Plum as Head of Brand.
❑ Dan Gladding joins ETX Capital as Chief Risk Officer.
❑ Exclusive: Ron Zori joins Public.com as Head Of Business Development.