FX week in review: TopFX product launches, Chelsea retail forex sponsor
What new products did Forex broker solutions provider TopFX launch?
Who is Chelsea FC’s new Retail FX sponsor?
Which executive left Tickmill?
Who is cTrader’s new white label partner to expand in Asia?
Which social trading platform did AvaTrade choose for its new copy trading service?
Where is MultiBank’s latest license from?
Answers to these questions and a whole lot more appeared on the pages on FNG this past week. Some of the top forex industry news items to appear on FNG this week included:
Exclusive: TopFX launches Portal CRM and Pay modules. FNG Exclusive… FNG has learned that B2B/B2C forex firm TopFX has launched two new modules called TopFX Portal and TopFX Pay. TopFX Portal is the company’s proprietary CRM for onboarding retail clients, while TopFX Pay is an in-house developed cashier, fully integrated with other payment solutions. Why launch these two new products now? How does TopFX see recent competition between the MT4 and cTrader retail trading platforms, both of which it offers? How has the COVID-19 crisis affected the Retail FX sector, and TopFX in particular? We went to the source and spoke with TopFX CEO Alex Katsaros on these topics and lots more. Here is what he had to say.
Exclusive: GO Markets sponsors Chelsea FC. FNG Exclusive… FNG has learned that leading Australia based Retail FX and CFDs brokerage house GO Markets has signed a sponsorship agreement with EPL team Chelsea FC. The agreement will see GO Markets become Chelsea’s Official Online Trading Partner. Chelsea is one of the world’s best known and well-followed football club brands. The team placed fourth in the English Premier League standings in 2019-20, and led the league in 2016-17. The GO Markets-Chelsea deal is the latest in a long line of sports sponsorships / brand ambassadors we’ve reported on lately, mainly involving top-tier Retail FX firms and top-tier European league football clubs.
Broctagon Fintech Group becomes specialist provider of cTrader White Labels. Forex broker trading platforms provider Spotware Systems has taken a key step to increasing the footprint of its cTrader multi-asset platform in Asia, announcing that Broctagon Fintech Group has become a specialist provider of cTrader White Labels. cTrader is the largest competitor to the popular Metatrader series of trading platforms. Metatrader, and its MT4 and MT5 platforms, have a distinct advantage and heavy market share in Asia. Broctagon has its headquarters in Singapore and has offices in key markets such as China, Russia and Cyprus.
AvaTrade adds AvaSocial copy trading with Pelican platform. Social and copy trading solutions provider Pelican Trading has unveiled today its latest Retail FX broker client, Ireland based AvaTrade. AvaTrade will be launching a new social/copy trading service for its clients based on the Pelican platform, called AvaSocial. Other Pelican customers include the recently sold ETX Capital, forex broker solutions provider Advanced Markets, and liquidity solutions firm IS Prime. Pelican’s innovative broker-neutral copy trading solution has been integrated with AvaTrade’s execution platforms, facilitating trade execution and communication in a central network for their traders. Regulated by the FCA, Pelican’s custom-built mobile application will enable AvaTrade’s clients to auto-copy signals, execute trades, chat and analyse performance.
MultiBank Group adds Dubai DFSA license. Hong Kong based Retail FX brokerage firm MultiBank Group has announced that its Australia based subsidiary, MEX Australia Pty Ltd, has secured a strategic commercial license from the Dubai Financial Services Authority (DFSA). The UAE has been an increasingly popular destination and base for global forex brokers looking to expand operations into the greater MENA and Arabic-speaking markets. Other recent license recipients in the region we’ve reported on include GO Markets, TeraFX, and Pepperstone. With the opening of the new office in the DIFC, the MultiBank Group said it now operates through 21 offices in 5 continents.
FX industry executive moves reported this week at FNG include:
❑ Exclusive: Marketing head Themis Christou leaves Tickmill.
❑ Exclusive: GCEX adds Saxo, IG, ActivTrades alum Torben Gregers Friis as MD-EMEA.
❑ Former Citi exec Kevin Wilson joins Integral as Managing Director – Business Development.
❑ Equiti Capital appoints industry veteran Stephane Treny to its FX Desk
❑ IG CEO June Felix joins RELX as Non-Exec Director.
❑ Amir Mehrad joins Equals which pays $2M for his Effective FX.
❑ Aquis Exchange appoints Deirdre Somers to its Board.