After a very busy and busy December 2023 (sale of NAGA Group and BUX, ThinkMarkets canceling its IPO, IG Group hiring a new CEO…), the first shortened holiday week of 2024 was relatively quiet in the FX and CFDs industry , as both traders and industry executives slowly began to return from holiday mode.
Which leads us to a somewhat abbreviated one FX Week in Review to start the new year, though several brokers began hiring and reassigning executives.
Some of the most read and commented FX/CFD industry news that appeared in the last seven days on FNG include:
Publicly traded FX/CFDs see stocks holding steady in 2023, but with (very!) mixed results. As we enter the new year and look back to 2023, a good barometer of what has happened overall in the global FX and CFD brokerage sector is taking a look at listed brokers and their stock performance. As we detail in our top FNG FX and CFD trading industry news for 2023, some brokers are clearly doing better than others and some are struggling, in what remains a very competitive environment.
Exclusive: ATFX Chairman Joe Li on Acquisitions and Retail FX in 2024. Exclusive FNG interview… 2023 has been a very busy year for M&A activity in the FX and CFD brokerage sector. And with industry consolidation being one of the key themes of the year in the top FX and CFD trading industry news of 2023, we thought it would be a good time to catch up with Joe Li, President of ATFX Group, who has been very involved. in much of the action. How does ATFX approach M&A activity? What is Joe’s outlook for the industry in 2024? Here’s what he had to say, exclusively on FNG.
Strong FX trading boosts Saxo Bank’s volumes by 2% in December 2023 to $369.5 billion. Copenhagen-based Retail FX and CFDs broker Saxo Bank closed 2023 on a positive note, recording a 2% month-on-month increase in client trading volume in December 2023, driven by strong underlying FX trading activity. Forex trading volumes for December reached $134.8 billion at Saxo Bank – its highest level since March. This more than offset a slight decline in trading across Saxo Bank’s other asset classes, resulting in overall activity up 2% to $369.5 billion for the month.
TradingView, Devexperts establish DXtrade backend integration. TradingView and Devexperts have officially announced the facilitation of an instant trade completion process to provide enhanced services to mutual broker partners. This partnership allows Devexperts customers to integrate the DXtrade trading backend into the TradingView platform. The process ensures a simple integration without the need for additional efforts by the broker’s internal teams to work on the API.
Top FX industry executive moves reported on FNG this week included:
❑ Dany Mawas joins Markets.com as Managing Director of South Africa.
❑ Exclusive: IG Group appoints Eren Eraslan as head of Northern Europe.
❑ Exclusive: LSEG marketing director Rohan Shams leaves for ICE.
❑ Stuart Neal takes on the role of CEO of Boku.
❑ Exclusive: Trading Pit Names Darcy Corbett as Head of Digital Marketing.