Which buyers have (reportedly) shown interest in placing an offer to buy Copenhagen based Retail FX and CFDs broker Saxo Bank, whose shareholders have effectively put it up for sale?
Why did South Africa regulators suspend the license of CFDs broker Banxso – and place a hold on its bank accounts?
Which longtime FX industry executive has left his position to launch a new prop trading firm?
What has led to Cyprus based Retail FX and CFDs broker BDSwiss to “go offshore”?
What initiated a somewhat public back-and-forth spat between prop firm MyFundedFX and industry comparison site PropFirmMatch?
Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:
Saxo Bank buyers emerge. After putting itself up for sale earlier this year by hiring investment banking firm Goldman Sachs to “initiate a review of strategic opportunities”, a number of potential suitors have emerged for Copenhagen based Retail FX and CFDs broker Saxo Bank. Who has shown interest in buying Saxo Bank?
South Africa CFDs broker Banxso bank accounts held, license suspended. South Africa financial regulator FSCA has provisionally withdrawn the license of online CFDs broker Banxso – which has also had a hold placed on seven of its bank accounts. Why did the regulator take action against Banxso? And what connection between Banxso and (former) binary options broker Banc de Binary was uncovered by South Africa business news site Moneyweb?
BDSwiss CRO Andreas Andreou leaves to launch prop firm thePropTrade. Now-former BDSwiss Chief Revenue Officer Andreas Andreou has taken to LinkedIn to announce the launch of a new Dubai based prop trading firm, called thePropTrade (at website theproptrade.com). Andreas Andreou is an experienced FX and CFDs industry executive, who spent the past two years at online broker BDSwiss, first as Chief Commercial Officer (CCO) and most recently as Chief Revenue Officer (CRO).
Exclusive: CFDs broker BDSwiss goes offshore. FNG Exclusive… FNG has learned that Cyprus based Retail FX and CFDs broker BDSwiss has “gone offshore”. The BDSwiss brand, at website bdswiss.com, is now operated by a Seychelles domiciled company, BDS Ltd. The BDSwiss brand had also been operated for the past few years from Cyprus based, CySEC licensed BDSwiss Holding Ltd.
Prop firm MyFundedFX, PropFirmMatch spar over Copy Trading. An interesting exchange took place on social media (and, apparently, behind the scenes) over the weekend between leading retail prop trading firm MyFundedFX and popular industry comparison site PropFirmMatch. The discussion included a threat by MyFundedFX and its CEO Matt Leach to revoke PropFirmMatch’s affiliate status and privileges. What happened? And what was said / threatened?
Top FX industry executive moves reported at FNG this week included:
❑ Kama Capital names Razan Assaf as Deputy CEO.
❑ Exclusive: ACY Securities marketing head Henrick Rajamountry departs.
❑ Exinity exec Tiago da Costa Cardoso moves to HFM to head Business Development.
❑ Liquidnet appoints Eric Blake as Head of Latin America.
❑ HSBC appoints Pam Kaur as Group CFO.
