Which senior executives have been hired in the UK by Kuwait-based CFDs broker NCM Financial as NCM UK receives FCA licence?
Which global sports icon is the new Brand Ambassador for the CFI?
What did the latest results look like for leading UK based brokers IG Group and CMC Markets?
What Asia-focused hires have been made by Retail FX and CFD brokers SquaredFinancial and Scope Prime?
Some of the most read and commented on FX/CFD industry news that appeared in the last seven days on FNG include:
Exclusive: Kuwait CFD broker NCM gets FCA licence, UK execs add. Exclusive FNG… Kuwait-based online brokerage NCM Financial has plans to expand into the UK, FNG has learned. NCM set up a new UK subsidiary NCM Financial UK Ltd in late 2021 and in 2022 began the process of applying for an FCA license for the new entity. The FCA license was officially granted to NCM earlier this week on 22 July. To date, the group has infused £3.75m of capital into NCM UK.
CFI welcomes seven-time F1 World Champion Lewis Hamilton as a 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 global brand ambassador for CFI, Lewis Hamilton’s influence will extend beyond representation. The partnership will also advance both parties’ shared goal of a better, more equal future, with CFI making a donation to Hamilton foundation Mission 44 as part of the deal.
IG Group posts 9% rebound in revenue, 32% rise in earnings in H2 2024 After a fairly slow first half of FY2024, UK-based leading online trading house IG Group (LON:IGG) reported its full-year 2024 (financial year to end May 31) results indicating a very strong recovery on both the top and bottom lines in the second half of the year. In the second half of the year – covering the months December 2023 to May 2024 – IG Group’s revenue was £514.7m, up 9% on the previous half (£472.6m).
CMC Markets reports Q1 2025 performance in line with expectations. London-based online trading firm CMC Markets plc (LON:CMCX) has issued a Trading Update for its fiscal 2025 quarter, indicating that its first quarter performance was in line with expectations, with the company on track to achieve net operating income between £320m and £360m for the year. CMC has a financial year end of March 31, so the first quarter of the year 2025 is the calendar months April-May-June 2024. Good progress is being made on CMC’s institutional and B2B strategy, as highlighted by its recent announcement of its partnership with Revolut and an exciting array of potential opportunities.
Top FX industry executive moves reported on FNG this week included:
❑ SquaredFinancial hires ADSS alum Francis Lee as head of Asia.
❑ Scope Prime hires Maybank executive Miranti Rostian as Head of Southeast Asia.
❑ Exclusive: Tickmill Head of BizDev Carla Nemr departs.
❑ EuropeFX director Pedro Sasso banned for five years by ASIC.