It’s hard to believe that another month of 2024 is in the books, but before we get to this week’s top stories, we’re pleased to report that FNG had another record month of traffic and visitors in April.
FNG’s dominance of FX and CFD industry news among both traders and industry decision makers is best seen through LinkedIn Analytics Antagonist statistics, confirming that FNG articles continue – month after month – to have several times the engagement of any other “FX news” site (or as we call them, copycat sites).
We don’t find our results surprising – that’s what happens when you provide unbiased, credible, original news and content, as opposed to a mix of promotional articles, paid awards and next-day ‘news’ articles copied from FNG titles.
And now to this week’s top headlines…
Which former Retail FX and CFDs broker marketing manager has become the new CMO of Spotware Systems for cTrader developers?
What are CFI’s plans for expansion after obtaining a new South African FSCA licence?
What did the latest financial results of XTB and Dukascopy look like?
Former FP Markets APAC CEO / IC Markets General Manager / Rakuten Australia CEO Nick Twidale has now joined which broker?
Some of the most read and commented on FX/CFD industry news that appeared in the last seven days on FNG include:
Exclusive: Elena Kupriianova Becomes CMO of Spotware. Exclusive FNG… Following our exclusive report earlier this week that FX industry marketing executive Elena Kupriianova has joined Spotware Systems as the new Chief Marketing Officer of trading platform developer cTrader, we are pleased to follow this up with a detailed discussion with Elena . How did Elena find herself on Spotware? What is it like to move “across” from working in brokerage (Exness, Capital.com, CFI) to the business side of technology providers? We discuss these topics and more with Elena, exclusively on FNG.
CFI moves into South Africa with new FSCA licence. Leading online trading provider CFI has announced its successful expansion into South Africa. The company said the move marks an important milestone in the group’s strategic global growth and underlines CFI’s commitment to expanding its reach on the African continent. With FSCA license in hand, CFI Financial (PTY) LTD, now an authorized South African FSP (FSP No. 53711), is actively preparing to commence operations in South Africa.
XTB Sees Record Revenue of $139M in Q1 2024 Poland-based Retail FX and CFDs brokerage XTB SA (WSE:XTB) followed up 2023 record with an even better start to 2024, reporting record quarterly revenue and profits almost a record for the first quarter of the year. XTB’s revenue reached PLN 556.0 million ($139 million) in Q1 2024, surpassing the company’s previous record of $134 million in the first quarter of last year. Net profit of PLN 302.8 million ($76 million) was well short of the record profits of Q1 2023.
Dukascopy sees revenue, profit continue to fall in 2H 2023 Geneva-based Retail FX and CFDs broker Dukascopy has published its Annual Report and financial results for 2023, indicating that revenue and bottom line profits continued to decrease in the second half of the year, after a very slow first half of 2023 at Dukascopy. Dukascopy’s revenue was CHF 9.5 million (US$10.4 million) in 2H 2023, down slightly (by 1%) from 1H 2023, which as we previously reported was the first time the Dukascopy’s revenues fell below the CHF 10 million level in more than 10 years.
Top FX industry executive moves reported on FNG this week included:
❑ Nick Twidale joins ATFX as Chief Market Analyst.
❑ iSAM Securities Appoints Dennis Weissert as Head of Technology Business Development.
❑ MarketAxess appoints Dan Burke as Global Head of Emerging Markets.
❑ AJ Bell appoints Julie Chakraverty to its Board.
❑ Komainu adds Paul Frost Smith as co-CEO along with Robert Johnson.