Having been involved in the retail CFD industry as a Compliance Officer since 2018, Toby Dyke has now decided to focus on developing his own project, Misano Payments, offering currency exchange and payment solutions for private and small corporate clients.

Dyke Stays in FX, but in a Different Form

The founder of Misano Payments' journey in the retail CFD and FX industry began over six years ago as a Compliance Officer in the London branch of broker GMO-Z.com. Dyke then moved to Tickmill, where he worked for nearly three years, and most recently held the same position at INFINOX.

Meanwhile, over the past three years, he developed his own project, Misano Payments, and has now decided to devote himself fully to it, leaving his work for others to focus on growing his own business.

In an interview with Finance Magnates, he admitted that the transition from compliance roles to running his own company was encouraged by "space in the market between the challenger and high-street banks for a currency exchange service." He added that he also "missed the client interaction" he "enjoyed with previous client-facing roles."

Misano Payments is a foreign exchange service provider offering currency exchange and international money transfer services. The business model focuses on providing a more tailored experience compared to traditional banks. Clients can fix exchange rates and conduct transactions, with dedicated brokers available for support throughout the process.

The company is supported by FCA-regulated Currencycloud, responsible for client onboarding and segregated currency accounts. Misano's role in the process is to guide clients through account opening and manage relationships.

"I have found that there are numerous clients who value service over price and as a result I've gained clients who have become frustrated with the service from their challenger bank," Dyke commented. "I enjoy being part of a client's journey, whether it be for a one-off repatriation of funds due to an overseas property sale, or a company paying overseas suppliers on a regular basis."

What are Misano and Dyke's plans for the future? First and foremost, he wants to focus on scaling the business and building a solid affiliate network focusing on London and the home counties.

"I think there's no substitute for face-to-face interaction so I plan to make this a consistent approach. It's important though that I maintain a manageable size of client base so that all clients can benefit equally from my service offering," Dyke concluded in his conversation with Finance Magnates.