The retail FX and Contract for Difference (CFD) broker ConnextFX has appointed Simon Andras as the Group CEO and Executive Director. This appointment marks a significant milestone in the company's two-year journey of brand development.
Simon Andras brings a wealth of experience to his new position, having previously served as the Head of Sales and Partnerships at Tickmill from 2020 to 2022. His tenure at Blackwell Global as the Head of Business Development from 2017 to 2020, spanning the UK, Hungary, and Cyprus, further solidifies his standing in the financial industry.
Veteran Industry Executive
According to a post on his LinkedIn profile, Andras mentioned: "I'm pleased to share my official role as the Group CEO and Executive Director of ConnextFX. This marks a significant milestone in the journey of building the brand over the past two years alongside an exceptional team! Prepare for the rise of ConnextFX in the forex industry."
Andras held the position of Head of Sales and Business Development at FXPRIMUS between 2015 and 2017. FXPRIMUS, a licensed online brokerage firm regulated by the Cyprus Securities and Exchange Commission, was founded in 2009 to provide clients with a fair trading environment.
Global Operations and Regulatory Compliance
ConnextFX, operating under Connext LTD in Seychelles and Connext LLC in Saint Vincent and the Grenadines, is authorized by the Financial Services Authority and serves as a Securities Dealer. According to the information on its website, the authorization in Saint Vincent and the Grenadines does not constitute possessing a license from the local supervisory authority.
Under the ConnextFX and Connext brand as well as trademarks, the entities operate globally. However, its services are unavailable to residents in specific countries, including the USA, Canada, Hong Kong, Singapore, United Arab Emirates, and regions identified as High-Risk by FATF.
More brokers are opting for Seychelles as a regulatory base. In recent years, Seychelles has transformed its reputation from merely an exotic location to a credible regulatory hub, thanks to the efforts of the FSA, Finance Magnates reported. This shift has attracted FX/CFD firms and crypto companies seeking licensing in the region.
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