What actions can NAGA Group traders do directly from the Telegram Messenger app, after NAGA launched the world’s first fully integrated trading app within Telegram?
What is neobank Revolut calling its new CFDs trading app? Where is Revolut already testing the new app?
Who became the second senior hire in as many weeks for new TopFX CEO Victor Zacharides, as TopFX’s new head of Business Development?
What led to the departure of 26 Degrees Cyprus/EMEA CEO Riana Chaili?
Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:
NAGA unveils Trading App integrated into Telegram Messenger. Social trading focused online broker The NAGA Group AG (ETR:N4G) has announced that the company is launching the first-ever fully integrated trading app within the Telegram ecosystem, in what the company calls a bold move that could redefine how retail investors engage with the financial markets. The “NAGA Everything Trading” app is natively integrated into the Telegram ecosystem, offering the full trading features of the NAGA SuperApp whilst enabling seamless onboarding, customer KYC and deposit capabilities directly in the messenger app.
Exclusive: Revolut entering EU CFDs trading business with Revolut Invest. FNG Exclusive… Should traditional CFDs brokers in Europe (and elsewhere) be concerned? FNG has learned that neobank giant Revolut is planning the next stage of its evolution, which will see the company launch regulated, leveraged CFDs trading in Europe, via a new brand to be called Revolut Invest. Brokerage services for Revolut Invest will apparently be provided by Revolut Securities Europe UAB, the company’s licensed subsidiary in Lithuania.
Exclusive: Finalto revenues slow 7% in 2023, but profits soar to $13M. FNG Exclusive… FNG has learned via various regulatory filings that leading institutional trading services and liquidity solutions firm Finalto had a very successful first full year under its new ownership group at Gopher Investments. Finalto saw Revenues decrease slightly by 7% in 2023 to $74.7 million across its various businesses. However thanks mainly to significantly reduced operating and admin expenses under new ownership, the company moved from operating at near breakeven in 2022 to a $13.1 million profit in 2023.
New crypto prime broker Cor Prime launches led by CEO Tim Grant. Fintech investment company Deus X Capital has announced it has closed the first round of equity funding as sole investor of its new company, Cor Prime, and has committed up to $100 million of risk capital to the business. Cor Prime will offer principal and prime lending for institutional investors in the digital asset space, pending regulatory approval. Tim Grant, CEO of Deus X Capital, will lead Cor Prime in the role of Chief Executive Officer.
Leverate unveils TextPilot management platform customization for brokers. Leverate, a leader in trading technology, has unveiled TextPilot, a game-changing feature that redefines management platform personalization. This innovative tool allows brokers and prop firms to go beyond standard customization, enabling them to fully tailor every element of their platform’s text, features, and language. With TextPilot, firms can embed their brand identity into the entire trading experience, creating a fully localized and uniquely customized environment that reflects their vision in every detail.
ATFX opens new office in Sydney to serve institutional clients. Leading global online broker ATFX has announced the opening of its new office in Sydney, Australia, at The Mint. The company said that this marks a significant step in providing premium services to local institutional clients, via its ATFX Connect brand. ATFX initially expanded into Australia in mid 2023, acquiring Rakuten Securities Australia.
Top FX industry executive moves reported at FNG this week included:
❑ Exclusive: TopFX hires Kyriakos Karamanis to head Business Development.
❑ Exclusive: 26 Degrees Cyprus/EMEA CEO Riana Chaili departs.
❑ Blackwell Global exec Uchenna Oranu joins Fxview as Executive Director.
❑ Exclusive: Exness alum Kirill Getmanskiy returns to FX/CFDs as MultiBank CMO APAC.
❑ Lee Holmes returns to INFINOX to focus on growth and international expansion.
❑ Exclusive: Scope Markets compliance chief Eliza Eliadou moves to HFM.
❑ MultiBank hires Equiti / INFINOX alum Sophie Squillacioti as Head of China.
❑ StarTrader analyst Khaled Al-Qudah moves to ACY MENA.
❑ Exclusive: Rostro/LMAX alum Olivia Mottershead joins MFP Trading.
❑ Exclusive: Capital.com hires CMC exec Ehsan Nazir as Market Risk Manager.
❑ GTN names Zaid Aloul as CCO Middle East.
