The prop firm has over 6,000 active traders and 600 funded accounts.
The acquisition deal is worth “a few million” dollars.
AXE Securities, a contracts for differences (CFDs) broker operating from the Bahamas, has become the latest to enter the fast-growing prop trading industry by acquiring The Forex Funder (TFF). The prop firm was previously owned by Tommy Cobain, an influencer trader with 148.1K followers on X (formerly Twitter).
The acquisition, which was announced today (Tuesday), was strategic and will allow the broker to broaden its range of services. However, the broker refused to reveal the exact financial details of the deal, only mentioning “it’s a few million” dollars.
The Forex Funder is registered in Dubai, and AXE Securities acquired it under its Hong Kong-registered holding company.
“This acquisition aligns with our goal to provide traders with the best possible tools and resources to succeed in the financial markets,” said Tahsin Haykal, Managing Director of AXE Securities. “We are confident that our combined expertise will improve the trading experience for all TFF clients.”
Meanwhile, several prop firms have recently shuttered or suspended their operations, citing various reasons. Indigo Trader Funding, Funds For Traders, Funded Engineer, and True Forex Funds are only a few prop trading brands that have ceased operations.
“By integrating TFF into our portfolio, we are not only expanding our reach but also reinforcing our dedication to supporting traders at every level,” added Domantas Mocevicius, Managing Director of AXE Securities.
Over 6,000 Active Traders
When it comes to The Forex Funder, they have a good social media presence with 126.7K followers on X (formerly Twitter), 81.6K followers on Instagram, 10.5K subscribers on Telegram, 10.2K subscribers on YouTube, and over 5.4K followers on TikTok. However, the Discord link on its website is broken, showing the message “this invite may be expired or you might not have the permission to join.”
AXE revealed that the prop firm has over 6,000 active traders and 600 funded accounts. However, it has a 2.7 rating on Trustpilot, which is categorised as ‘poor’. The rating is based on the reviews from 1,591 users as of press time.
The acquisition of The Forex Funder also led to the replacement of the prop trading firm's management, but it will continue to operate as an independent brand. Haykal and Mocevicius have taken over as the new management.
AXE revealed to Finance Magnates that Haykal will oversee the prop trading firm’s day-to-day operations and will also focus on expanding its market presence, driving growth, and ensuring the long-term sustainability of the business. Mocevicius, on the other hand, will be responsible for improving the firm’s infrastructure, ensuring robust risk management practices, and enhancing compliance frameworks
AXE Securities, a contracts for differences (CFDs) broker operating from the Bahamas, has become the latest to enter the fast-growing prop trading industry by acquiring The Forex Funder (TFF). The prop firm was previously owned by Tommy Cobain, an influencer trader with 148.1K followers on X (formerly Twitter).
The acquisition, which was announced today (Tuesday), was strategic and will allow the broker to broaden its range of services. However, the broker refused to reveal the exact financial details of the deal, only mentioning “it’s a few million” dollars.
The Forex Funder is registered in Dubai, and AXE Securities acquired it under its Hong Kong-registered holding company.
“This acquisition aligns with our goal to provide traders with the best possible tools and resources to succeed in the financial markets,” said Tahsin Haykal, Managing Director of AXE Securities. “We are confident that our combined expertise will improve the trading experience for all TFF clients.”
Meanwhile, several prop firms have recently shuttered or suspended their operations, citing various reasons. Indigo Trader Funding, Funds For Traders, Funded Engineer, and True Forex Funds are only a few prop trading brands that have ceased operations.
“By integrating TFF into our portfolio, we are not only expanding our reach but also reinforcing our dedication to supporting traders at every level,” added Domantas Mocevicius, Managing Director of AXE Securities.
Over 6,000 Active Traders
When it comes to The Forex Funder, they have a good social media presence with 126.7K followers on X (formerly Twitter), 81.6K followers on Instagram, 10.5K subscribers on Telegram, 10.2K subscribers on YouTube, and over 5.4K followers on TikTok. However, the Discord link on its website is broken, showing the message “this invite may be expired or you might not have the permission to join.”
AXE revealed that the prop firm has over 6,000 active traders and 600 funded accounts. However, it has a 2.7 rating on Trustpilot, which is categorised as ‘poor’. The rating is based on the reviews from 1,591 users as of press time.
The acquisition of The Forex Funder also led to the replacement of the prop trading firm's management, but it will continue to operate as an independent brand. Haykal and Mocevicius have taken over as the new management.
AXE revealed to Finance Magnates that Haykal will oversee the prop trading firm’s day-to-day operations and will also focus on expanding its market presence, driving growth, and ensuring the long-term sustainability of the business. Mocevicius, on the other hand, will be responsible for improving the firm’s infrastructure, ensuring robust risk management practices, and enhancing compliance frameworks
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
ASIC Prohibits CFDs “Margin Discounts”: How Shall Brokers Prepare?
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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