Quite a lot of changes afoot at numerous FX and CFD brokers worldwide this past week, including new leadership, licenses, restructuring, rebranding…
What new C-Suite hires (CEO, COO…) have been made at Dubai based CFDs broker UEXO?
What rebranding activity was seen at leading online brokers IC, and eToro?
What led to HTFX shutting down?
Which (non standard) jurisdiction did Trade Nation choose for an EU license?
Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:
Top FX and CFDs industry news stories this week
Exclusive: CFDs broker HTFX shuts down after losing CySEC, FCA licenses. FNG Exclusive… FNG has learned that Far East focused Retail FX and CFDs broker HTFX has ceased operations globally. The group’s main website, htfx.com, now just shows being parked by website domain registry GoDaddy. The HTFX brokerage brand, founded in 2018, was controlled by Chinese entrepreneur Lijun Li.
IC rebrand will see icmarkets.com move to ic.com. Leading online broker IC has announced that effective this weekend its main website address url will shift from icmarkets.com, to ic.com. The move is part of a rebranding – from IC Markets to just IC – which has been underway at the company over the past few months. IC Markets’ first transition to its new IC branding coincided with its partnership announcement with Haas F1 Team, late last year.
eToro introduces new logo and new look, launches new mobile app. Online broker eToro today unveiled a new mobile app at its ‘Intelligence in Motion’ event in London. The company shared updates including agentic trading and sub-accounts, a new desktop platform for active traders, a growing app store, and new tools for crypto self-custody. At the center of the new app is Tori, eToro’s proactive AI agent, working alongside the collective knowledge of eToro’s community of millions.
IG Group restructuring sees holding company move to Jersey, operations combined. Electronic trading major IG Group Holdings plc (LON:IGG) today announced a proposal to establish a new Group holding company (“New HoldCo”), incorporated in Jersey, subject to shareholder and regulatory approval. The new structure will give the Group greater financial and strategic flexibility and better reflect its international footprint, with around two-thirds of revenue now generated outside the UK. It will not change IG’s listing, tax residence or London operations.
J. Safra Sarasin Group to acquire remaining stake in Saxo Bank. Bank J. Safra Sarasin has today announced an agreement to acquire the remaining stake held indirectly by Kim Fournais in Saxo Holding AG, representing approximately 28.69%, following Bank J. Safra Sarasin’s exercise of a call option in the shareholders agreement entered between the parties. Kim Fournais will remain Chairman of the Board of Directors of Saxo Bank.
Exclusive: CFDs broker Trade Nation adds EU license in Portugal. FNG Exclusive… FNG has learned that UK based Retail FX and CFDs broker Trade Nation has added an EU license, to enable it to onboard clients across Europe. Trade Nation didn’t go the usual route and get licensed in Cyprus (CySEC), Malta (MFSA), or Germany (BaFin), but rather turned to Portugal.
Top FX industry executive moves this week
❑ Exclusive: CFDs broker UEXO hires CXM / MultiBank alum Zena Alqadri as COO.
❑ Neobroker amana names Andrey Artamonov its Chief Technology and Information Officer.
❑ GoCharting gets Long Ridge investment, adds Oleg Mukhanov as COO.
❑ Darryl Hooker promoted to CSO at DIGITEC.
❑ XS.com hires Emily A. Aghajanyan as Emerging Markets Director.
❑ Saxo names Gift Muthita Anankaphannan to head Institutional Business APAC.
❑ Coinbase hires Unit 42 CTO Michael Sikorski as its new CISO.
