What are Capital.com’s plans for expansion in the MENA region, out of its growing office in the UAE led by Tarik Chebib?
What led to a significant decline in Revenues (-31%) and Profits (-47%) at XTB.com in Q2-2024?
What are the top marketing mistakes made by brokers? And how can you avoid them?
What is changing at Hantec Markets, in addition to a brand refresh?
Who is the new General Manager at leading Australia based Retail FX and CFDs broker IC Markets?
Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:
Exclusive: Capital.com CEO Middle East Tarik Chebib on MENA expansion, AI and more. FNG Exclusive Interview… Following our recent exclusive report that Retail FX and CFDs broker Capital.com had received a UAE SCA Category 1 license and was strategically expanding its MENA operations, we thought that it would be a good time to catch up with Tarik Chebib, Capital.com CEO Middle East. What are Capital.com’s plans in the MENA region? How is Capital.com approaching the issue of AI alongside trading? Here is what Tarik had to say about these issues, and a whole lot more.
XTB Revenues drop 31%, Profit off 47% in slow Q2 2024. Following a set of record results in Q1, Poland based Retail FX and CFDs broker XTB has reported its preliminary results for Q2 2024 indicating a major decrease in activity, leading to lower Revenues and Profit at the company. Revenues at XTB for the second quarter of 2024 came in at PLN 382 million (USD $96 million), down by 31% from Q1’s record $139 million. Net Profit fell by almost half (47%), to PLN 160 million ($40 million), versus $76 million in Q1.
Biggest Marketing Mistakes Brokers Are Making. Marketing your brokerage is becoming ever more challenging thanks to constant Google algorithm changes, tightening budgets, a rapid increase in competitors and complex regulations. We’re pleased to present a special guest editorial containing several contributions from executives at Contentworks Agency and Growth-onomics on what to avoid, what to focus on, (mis-)use of AI, how prop trader marketing is different, and lots more.
Hantec launches brand refresh, enhanced Prime services. Hantec Markets, a leading CFD broker with over three decades of group experience, has announced its latest initiatives aimed at enhancing the trading experience for partners and clients worldwide. The changes at Hantec include a full brand refresh, enhanced partner programs, trading innovations, and enhanced prime services.
ESMA warns of EU crypto firms using their offshore execution venues. The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor authority, has issued an Opinion to address the risks presented by global crypto firms seeking authorisation under the Markets in Crypto Assets (MiCA) Regulation in the European Union for part of their activities (i.e. crypto brokerage), while keeping a substantial part of their group activities (intra-group execution venues) outside the EU regulatory scope.
Top FX industry executive moves reported at FNG this week included:
❑ Exclusive: IC Markets hires Credit Agricole alum Ben Singleton as General Manager.
❑ Exclusive: ATFX Connect hires Taurex exec Amer Zino as Director of Business Development.
❑ NAGA CCO Sam Chaney departs.
❑ Vedant Gaur joins Sterling Trading Tech as Sales Director.
❑ Robert Swaak to step down as CEO of ABN AMRO.
❑ HSBC appoints Jonathan Bingham as Interim Group CFO.
