Exclusive: Avi Abuganny Is Appointed New CEO of FXCM Israel

FXCM Israel has just announced that Avi Abuganny was selected as the new CEO of the firm. He previously served as the firm's Head of Marketing and Retention Manager since 2010.

Mr. Abuganny was promoted to the position of CEO to replace Tal Zohar who recently parted ways with FXCM Israel. During the last couple of months there has been an organized transfer of responsibilities between the two and Mr. Abuganny assumed the role of the acting CEO two weeks ago.

FXCM Israel was recognized by Dun & Bradstreet as one of the top two largest Forex brokers in Israel this year and reportedly has thousands of traders in the country. In recent years the firm has outgrown the local market and now also services traders outside of Israel, mainly in Europe and the Middle East.

Mr. Abuganny commented on the situation: "I want to thank Tal Zohar for the wonderful time he served as CEO. Under his leadership FXCM Israel has established itself as one of the leading trading companies in the market. After years of knowing him and cooperating with Tal I intend to keep FXCM Israel marching forward and solidify its position as a leader in leveraged trading in Israel."

The management team at FXCM Israel has been recently undergoing further changes, as Ben Richter was promoted to the position of Vice President of Sales from the Head of FX institutional desk following the transfer of Yossi Gafni to VP Sales & Operations at binary options broker, Anyoption, four months ago.