Cryptocurrency trading firm, PrimeXBT has parted ways with Iván Marchena, who had joined the company last year as Vice President of Latin American operations, Finance Magnates has learned.
Marchena had been tasked with spearheading PrimeXBT’s product and service offering for retail FX traders and institutional partners. Additionally, he was responsible for managing its sales activities in Latin America to bring the company’s custom brokerage, service and coding solutions to the targeted segments.
“I think I have already fulfilled my mission in PrimeXBT, a beautiful stage in my professional career. I am sure that this project will continue to be successful, but for me, it is time to move on and face new challenges,” he told Finance Magnates.
Marchena started his own career in 2008, but he assumed his first role in the FX arena back in 2014 when he was appointed by Alfa-Finans to Forex Sales Account Manager. He also spent a short stint as the International Sales Manager at Alpari Group.
In June 2016, Iván left Aplari to join Libertex Group where he spent nearly three years in different sales positions to develop its Latin American and Spanish retail department. His success with the division culminated with him taking on the role of Libertex Head of LATAM sales. Most recently, he held an analogous role at the cryptocurrency firm, EXSCUDO.
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PrimeXBT Expands Offering with New Products
Founded in 2018, PrimeXBT offers leveraged trading, real-time market data and analysis tools across a wide spectrum of crypto assets. The company has the aspiration to bridge the gap between cryptocurrencies and traditional asset classes, boasting features including 100x leverage, advanced order types and charting tools.
PrimeXBT has recently enhanced its offering to provide a cross-market platform that allows traders to transact a plethora of crypto and fiat currencies.
Most recently, it has officially gone live with its copy trading platform, which was developed in a B2B partnership with European digital asset exchange, Covesting.
The combined offering allows less-versed cryptocurrency users to automatically copy the trades of the experienced traders on the platform, thus creating a P2P asset management solution. In return, the copied trader earns up to 20% of follower equity profit just for automatically replicating the trades. Covesting charges an additional 10% for facilitating the process, which means the investor makes 70 percent of the original profit without getting involved in the actual trading.
PrimeXBT, which claims it handles more than $200 million in daily volumes, has released a product that mimics the attributes of binary options trading. Called ‘PrimeXBT Turbo’, the platform may appeal to the same type of people that traded binaries in the past or even those playing poker online.