Who are the new CEOs at CFDs broker Capital.com UK, and at neobroker Freetrade?
Which retail prop trading firm is shutting its (virtual) doors?
What were CFI’s record trading volumes in Q1 2024?
What other executive moves did we see involving Devexperts, Match-Prime Liquidity, The Trading Pit, iSAM Securities, 26 Degrees, and more?
Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:
Capital.com names Rupert Osborne as UK CEO. Continuing to remake its senior management ranks following the departure last year of CEO Peter Hetherington, Retail FX and CFDs broker Capital.com has announced the appointment of Rupert Osborne as CEO of Capital Com UK Limited (Capital.com UK), subject to regulatory approval. Rupert Osborne was one of the former IG Group executives brought on board by Peter Hetherington (former CEO of IG) to Capital.com in 2022, having spent more than 15 years in trading and sales roles in the UK and US. He was named Executive Director of Capital.com at the start of the year.
Viktor Nebehaj replaces Adam Dodds as CEO of Freetrade. UK neobroker Freetrade has announced that it has made a change at the top of its management C-Suite, with company co-founder Adam Dodds stepping down from his role as CEO. Adam Dodds has been the only CEO Freetrade has known since co-founding the company in 2016. One of Freetrade’s other co-founders, COO Viktor Nebehaj 9pictured above), will take the reins as CEO. Adam Dodds remains Freetrade’s largest shareholder, at about 12%. While Freetrade has not yet formally released its 2023 financials, it is believed that the company lost £8.3 million, a significant improvement from a £39.8 million loss in 2022.
Prop firm True Forex Funds folds. Following our exclusive report from early February that retail prop trading firm True Forex Funds had ceased operating, becoming one of the first victims of MT4/MT5 trading platform developer MetaQuotes’ crackdown on prop firms, the company has now informed its clients and the public that it is shutting down, for good.
CFI reports record client trading volumes in Q1 2024. Leading UAE based online trading provider CFI has revealed record-breaking performance in the first quarter of 2024. A testament to the group’s commitment to excellence and innovation, CFI achieved significant milestones across various areas of its business, including new records in trading volumes, client numbers, strategic partnerships, product enhancements, and global expansion initiatives.
Top FX industry executive moves reported at FNG this week included:
❑ Exclusive: Devexperts hires Nick Mortimer as SVP Business Development.
❑ Match-Prime Liquidity names Michael Nichols as CCO.
❑ Christoph Radecker, Thomas Heyden leave prop firm The Trading Pit.
❑ Exclusive: ForexVox / SquaredFinancial alum Michael Quirk joins Go Xchange as Head of Sales.
❑ iSAM Securities adds StanChart, Citi execs to eTrading team.
❑ Exclusive: 26 Degrees hires HFM/24option alum Konstantinos Konstantinou for Cyprus office.
❑ Exclusive: Former ETX CEO Arman Tahmassebi leaves LendInvest for COO role at Flagstone.
