Exclusive FNG… FNG has learned of a number of changes in Australia’s retail FX and CFD sector, with a number of trades taking place between some fairly well-known names and brands in the business.
At the heart of the deal are Jeremy Kinstlinger and Elan Bension, who together have co-owned and co-managed ASIC licensed broker Global Prime since 2012. In 2020 the pair brought in former IC Markets executive Angus Walker as CEO of Global Prime.
FNG has learned that Kinstlinger and Bension have sold Global Prime to rival Australian-based brokerage Fusion Markets and its founders Phil Horner (ex-Pepperstone CEO and Axi sales director) and David Swinden (also ex-Pepperstone). Global Prime and Fusion Markets now operate under Fusion Markets’ licensed operating company ASIC FMGP Trading Group Pty Ltd. The offshore operations of both brands are now under the Vanuatu-based Gleneagle Securities Pty Limited. Fusion Markets also has an offshore operation based in the Seychelles.
As for Jeremy Kinstlinger and Elan Bension, they have gone on to launch a new global Retail FX and CFDs brokerage brand called Afterprime, housed within the Argamon Group.
The Afterprime brand will actually consist of a number of companies. To serve the European market, Kinstlinger and Bension have acquired CySEC CIF license holder HCFS High Capital Financial Services Ltd, previously associated with online brokerage brands HighCapital Trade and TradersLive. HCFS has since been renamed Afterprime Europe Limited. Seychelles-based Afterprime Ltd will serve as the offshore arm of the group.
In its home market of Australia, the Afterprime group will operate an ASIC-licensed business under a different name called Argamon Markets Pty Ltd, serving institutional clients. Argamon Markets will specialize in optimizing financial and digital liquidity and managing Prime Broker relationships.