Which senior executives were hired in the UK by Kuwait based CFDs broker NCM Financial, as NCM UK received an FCA license?
Which global sports icon is the new Brand Ambassador for CFI?
How did the latest results look for leading UK based brokers IG Group, and CMC Markets?
Which senior Asia-focused hires were made by Retail FX and CFD brokers SquaredFinancial, and Scope Prime?
Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:
Exclusive: Kuwait CFDs broker NCM gets FCA license, adds UK executives. FNG Exclusive… FNG has learned that Kuwait based online brokerage firm NCM Financial has plans to expand to the UK. NCM set up a new UK subsidiary NCM Financial UK Ltd in late 2021, and in 2022 began the application process for an FCA license for the new entity. The FCA license was formally granted to NCM earlier this week, on July 22. To date, the group has injected capital of £3.75 million into NCM UK.
CFI welcomes seven-time F1 World Champion Lewis Hamilton as Global Brand Ambassador. Leading online broker CFI has unveiled a new partnership with Seven-Time Formula 1 World Champion Lewis Hamilton, as its newest Global Brand Ambassador. As the global brand ambassador for CFI, Lewis Hamilton’s influence will extend beyond representation. The partnership will also further both parties’ shared goal for a better, more equal future, with CFI making a donation to Hamilton’s foundation, Mission 44, as part of the agreement.
IG Group sees 9% rebound in Revenues, 32% increase in Profit in H2 FY2024. Following a fairly slow first half of fiscal 2024, leading UK based online trading house IG Group (LON:IGG) has reported its full-year 2024 results (fiscal year-end of May 31) indicating a very strong rebound on both the top and bottom line in the second half of the year. In the second half of the year – covering the months of December 2023 through May 2024 – IG Group Revenues totaled £514.7 million, up 9% from the previous six month period (£472.6 million).
CMC Markets reports Q1 FY2025 performance in line with expectations. London based online trading firm CMC Markets plc (LON:CMCX) has issued a Trading Update for its fiscal Q1 of FY2025, indicating that Q1 performance was in line with expectations, with the company on track to achieve net operating income of between £320-360 million for the year. CMC has a March 31 fiscal year end, so Q1 of FY2025 are the calendar months of April-May-June 2024. Good progress is being made on CMC’s institutional and B2B strategy, as highlighted by the recent announcement of its partnership with Revolut and an encouraging pipeline of potential opportunities.
Top FX industry executive moves reported at FNG this week included:
❑ SquaredFinancial hires ADSS alum Francis Lee as Head of Asia.
❑ Scope Prime hires Maybank exec Miranti Rostian as Head of South East Asia.
❑ Exclusive: Tickmill Head of BizDev Carla Nemr departs.
❑ EuropeFX director Pedro Sasso banned for five years by ASIC.
