FTMO, a dominant player in the prop trading industry, is entering the retail brokerage space and has appointed Michael Kamerman as the Chief Executive of its brokerage division, Finance Magnates has learned exclusively. The two co-founders, Otakar Suffner and Marek Vasicek, will retain their roles as CEO and CTO of the FTMO Group, respectively.
Beyond Prop Trading
According to the prop trading firm, entering the retail brokerage industry is part of its “long-term strategy.” The appointment of Kamerman is also strategic, given his experience with forex and contracts for differences (CFDs) brokers.
“If we want to stay at the top of the food chain, we have to innovate and listen to our clients,” Suffner said, adding: “It doesn't mean that we are going to focus less on our core product.”
However, it remains unclear when FTMO will launch its brokerage services and the markets it will target initially. Further, unlike prop trading, the retail brokerage business needs proper regulatory licensing, and the progress of FTMO in that area also remains unknown.
Prop trading is a relatively new industry witnessing a massive surge in demand. While several established retail brokers, like OANDA, Axi, and Hantec Markets, are launching prop trading services, FTMO has taken the opposite route.
FTMO is one of the oldest operational prop trading companies, which claims to have over 1.5 million signups since its launch in 2015. It provides prop trading services with demo trading accounts, a practice prevalent in the industry.
“Like all things, online trading evolves,” said Kamerman. “The needs of traders are changing all the time, and FTMO has caught lightning in a bottle. Their business is one built on product and relentless customer focus. Their ongoing drive to innovate and launch trader-first solutions caught my eye years ago.”
A Seasoned Brokerage Executive
Most recently, Kamerman was the CEO of Skilling, a Cyprus-licensed FX and CFDs broker, which he joined in 2020, replacing its co-founder for the apex role. Under Kamerman's stewardship, Skilling raised €10 million to accelerate its business expansion and also ended 2023 with “all-time highs in new clients, active clients, trading volume, net revenue, and EBIT performance.”
Apart from Skilling, Kamerman worked for only one other brokerage brand, FXCM, where he spent 15 years of his career. He joined the now Jefferies-owned brokerage brand as a Sales Associate and climbed the corporate ladder to leave as the Managing Director.
“Michael’s experience at industry pioneers like FXCM and at high-growth challenger brands like Skilling makes him a perfect fit as we look to diversify our business and offer a service that our customer base is looking for,” added Suffner.
