Equiti Appoints Sean Hong as the New Group CFO

Equiti Group, the Middle East-focused contracts for differences (CFDs) broker, has appointed Sean Hong as the new Group Chief Financial Officer. Although not officially confirmed, he is likely replacing Rick Fulton in the role.

A Promotion to One of the Top Roles

Hong’s appointment came as an international promotion from his previous role as Global Head of Finance with the Dubai-based broker, which he joined in mid-2023.

Before beginning his tenure at Equiti, Hong was the Chief Financial Officer at the Australian unit of Plus500. He spent more than three years at the Sydney offices of the Israeli broker.

Despite working with only two CFDs brokers, he brings over two decades of financial industry experience to his latest role at Equiti. Over the course of his career, he has worked with several big names in the financial industry, including PwC, Deutsche Bank, Macquarie Group and ANZ.

Meanwhile, the leadership list on Equiti’s website still names Fulton as its CFO. He had held the role since 2018. It remains unclear what his position will be following Hong’s promotion.

Earlier this year, FinanceMagnates.com reported that Yiannos Xenophontos, who was previously the Chief Operating Officer at FxPro, joined Equiti as its Head of Trading.

The Rising Trading Demand in MENA

Equiti’s primary market is the Middle East. The broker operates from its headquarters in Dubai and also has a presence in Jordan. Furthermore, it holds licences from regulators in the United Arab Emirates, Jordan, the United Kingdom, Kenya, Seychelles, Armenia and Cyprus.

Although Equiti does not publicly disclose trading volumes on its platform, other MENA-focused brokers have been posting record figures. Recently, CFI Financial reported that trading volume on its platform reached a record $1.51 trillion during the second quarter of 2025, compared to $2.79 trillion in the whole of 2024.

Capital.com, another CFDs broker, previously reported that 53 per cent of its $656 billion Q1 trading volume came from the Middle East, compared to 24 per cent from Europe. In Q2, the broker handled $849.6 billion in trading volume but did not disclose regional shares.

A Promotion to One of the Top Roles

Hong’s appointment came as an international promotion from his previous role as Global Head of Finance with the Dubai-based broker, which he joined in mid-2023.

Before beginning his tenure at Equiti, Hong was the Chief Financial Officer at the Australian unit of Plus500. He spent more than three years at the Sydney offices of the Israeli broker.

Meanwhile, the leadership list on Equiti’s website still names Fulton as its CFO. He had held the role since 2018. It remains unclear what his position will be following Hong’s promotion.

Earlier this year, FinanceMagnates.com reported that Yiannos Xenophontos, who was previously the Chief Operating Officer at FxPro, joined Equiti as its Head of Trading.