The ambitions of TopFX Global in the emerging markets of Latin America have become clearer as the forex and contracts for differences (CFDs) broker has appointed Nordine Mejd as the Director for the Latam region. According to his LinkedIn profile, he assumed the role earlier this month.
Brokers’ Focus on Latam
TopFX Global, the Seychelles-registered entity that operates globally, holds a Seychelles licence. Its retail offerings include CFDs on forex, indices, shares, metals, energies, ETFs, and cryptocurrencies. The brand is also known for its institutional offerings, as it operates as a prime CFDs broker with 12 years of expertise in liquidity services.
For the new role, Mejd is based in the Cyprus offices of TopFX.
Several other brokers have also been focusing on their strategies in the growing Latam markets, which are emerging markets alongside Asia and Africa. Recently, ATFX appointed a Growth Manager for the Latam region, while Exness opened its first physical office in Uruguay last year.
Two of the largest countries in the Latam region, Brazil and Mexico, have populations of 204 million and 131 million in 2023, respectively, according to the IMF. If only 0.2 percent of the population of these two countries trade CFDs, as is the case for the UK, there is a potential for 290,000 active trading accounts in Brazil and 450,000 in Mexico.
Time with Other Brokers
Mejd brings more than a decade of experience in the financial services industry to his new role at TopFX. Most recently, he was the Chief Operating Officer at SEC Markets, a retail CFDs broker with claimed presences in Dubai and St Vincent and the Grenadines. There, he spent the last year.
However, his most prominent experience was at TTCM Traders Trust, a multi-licensed CFDs broker, where he spent ten years of his career. As seen on his LinkedIn profile, he joined the Cyprus offices of the broker as the Head of Portfolio Management in mid-2013 and then climbed up the corporate ladder to become the Head of Business Development and then the Executive Director. He parted with that company last year.
This article was written by Arnab Shome at www.financemagnates.com.
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