Youssef Barakat, the former Chief Executive of SquaredFinancial, has joined the senior management team of forex and contracts for differences (CFDs) broker 4T, which operates with a Seychelles license. However, the company did not reveal his official position.
4T Onboards Youssef Barakat
In the new role, Barakat will help the broker in its global expansion drive and diversify its product offerings.
"I am thrilled to join 4T and look forward to leveraging my skills and experience to expand and grow the business to new heights, including expanding into Europe and Asia," Barakat said. "We plan to do this by leveraging our skills and experience in the industry."
"The specific goals mentioned are expanding our presence into Europe and Asia and improving our technology offerings, such as our trading app - 4T Trader. We are looking to increase the company's reach and competitiveness by entering new and potentially more lucrative markets and offering cutting-edge technology to clients. Additionally, we are looking to expand to more regulated jurisdictions, which can also be beneficial to the company. We are determined and confident in achieving these goals, and we will work hard to achieve them."
Onboarding an Industry Expert
The onboarding of an industry veteran like Barakat shows the brokerage's focus on expansion. Moreover, he has two decades of experience in forex and bullion trading, sales, and brokerage.
His most prominent tenure was at CySEC-licensed SquaredFinancial, where he worked for more than ten years until he separated in 2021. He joined that company in 2009, when it was known as ProbusFX, and took over the role of CEO in March 2014, stewarding the company through its rebranding in late 2018.
In the early years of his career, he joined the Tokyo and London offices of Tulletts and subsequently held senior trader positions in Dubai and Geneva. Furthermore, he became the COO and Head of Trading at an Abu Dhabi-based brokerage in 2005 and helped to build its business from the ground up and acquire licenses.
