The FX and CFDs industry had a very busy news week as many folks returned from summer break, which saw more than one broker license yanked, several ownership changes, several new sports sponsorships launched, and quite a number of senior executive moves.
Why did Valutrades raise money from its controlling shareholders – for the third time in under 12 months?
How much money did XTB founder Jakub Zablocki net from cashing out a healthy chunk of XTB shares – his largest share sale to date?
Who bought full control of HYCM, less than a year after the company’s ownership changed in a management buyout?
What led ASIC to cancel the AFS license of FXOpen AU?
Which executive moves were seen at Capital.com (new COO), OneRoyal (new CMO), Finalto (new COO), Tickmill, Britannia Financial, and Markets.com, among others?
Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:
Exclusive: Valutrades shareholders inject £1.6M in new capital. FNG Exclusive… FNG has learned that London based Retail FX and CFDs broker Valutrades has raised £1.6 million (USD $2.1 million) in fresh capital from its controlling shareholders, Indonesian investors Aman Lakhiani and Anil Bahirwani. This actually marks the third capital raise by Valutrades over the past 12 months.
Exclusive: XTB founder Jakub Zablocki nets $135 million in share sale. FNG Exclusive… Further to our exclusive earlier report that XTB co-founder and controlling shareholder Jakub Zablocki was planning to sell down a good portion of his holdings in the Poland based Retail FX and CFDs broker, FNG has learned that Mr. Zablocki has completed the sale of 8.4 million XTB SA (WSE:XTB) shares, via an accelerated book-building process led by investment banks Santander and UBS.
Exclusive: HYCM MBO Part 2: Stavros Lambouris buys out Roger Bach. FNG Exclusive… Further to our exclusive report from early 2024 that control of Retail FX and CFDs broker HYCM had changed hands in a management buyout (or MBO), FNG has learned that the two principals who took control of HYCM – Stavros Lambouris and Roger Bach – have struck a new deal between them. Specifically, Stavros Lambouris has bought out Roger Bach, who (at the age of 65) will be retiring and leaving HYCM.
ASIC cancels licence of FXOpen AU. The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services (AFS) licence CFD and Forex broker FXOpen AU Pty Ltd. The regulatory decision was made after an investigation into the broker identified serious concerns about the inadequacy of its human resources to provide financial services and to carry out supervisory arrangements. ASIC’s investigation also found that FXOpen AU failed to comply with its obligations as an AFS licensee.
The NAGA Group sponsors German Bundesliga football team Borussia Dortmund. Fresh off its completed merger with CAPEX.com operator Key Way Group, social trading focused online broker The NAGA Group AG (ETR:N4G), provider of the all-in-one financial SuperApp NAGA, has announced that it has entered into a partnership with Borussia Dortmund (BVB) for the current and upcoming Bundesliga season through to 2026.
Top FX industry executive moves reported at FNG this week included:
❑ Capital.com hires Jessica Bliesner as COO.
❑ Exclusive: OneRoyal hires HYCM exec Dominic Poynter as CMO.
❑ Exclusive: Joseph Dahrieh promoted to MD, Elie Tarabay to head Partnerships at Tickmill MENA.
❑ Finalto appoints Pablo Quiroga Gomez as UK Chief Operating Officer.
❑ Exclusive: Capital.com / IG alum Michael Going joins Britannia for Senior Sales role.
❑ Markets.com Head of MENA Ali Makki departs.
❑ Ops expert Antreas Pilavakis changes prop firms, from The Trading Pit to FunderPro.
