Foreign exchange and CFDs brokerage FXCM Inc (NYSE:FXCM) has turned to its internal talent pool and appointed a new Head of Sales for the Middle East and North Africa (MENA) region. The company has promoted long time employee Naji Karak to Vice President of Sales.
He was promoted from a senior account executive role for the Active Traders desk, which is the company’s division handling high net worth traders, providing a series of FX execution and technology solutions.
Mr. Karak has been with FXCM Inc (NYSE:FXCM) for 8 years. During his tenure at FXCM he acquired significant experience in handling retail, high net worth, introducing broker and institutional client relationships for the company.
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FXCM Inc (NYE:FXCM) has dedicated a team of seven staff members to boost the efforts of the brokerage in the MENA region and expand the company’s footprint.
Recently, the company upgraded its CFDs market-making technology as the broker has also introduced a new set of dealing desk mini accounts with minimum deposit requirements as low as $50. With the new offering, the brokerage is looking to capitalize on the increasing popularity of CFDs trading with retail investors.
According to its creditor, Leucadia National, the brokerage is on track to fully repay its post-SNB (Swiss National Bank) loan by the end of the first quarter of 2016.