Online foreign exchange broker FXTM has secured former Gain Capital’s Nicholas Scott, who joins the group as its newest Head of Product Development with immediate effect, according to information made public on his Linkedin profile.
Nicholas will be tasked with researching a plethora of new products while expanding the existing product suite. Moreover, he will use his skill set to focus on business opportunities by identifying demand from both retail and institutional investors.
Before joining FXTM, Scott worked for nearly seven years at US-listed brokerage Gain Capital, having focused on the development of its digital advisory and investing products. Moreover, his previous roles saw him play an integral role in the company’s technology and business integration functions across its GFT Markets and City Index brands.
Scott’s several positions with Gain included Marketing Manager, Product Marketing Manager, Strategy Director, among others, dating back to early 2012.
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He also worked at a number of financial service providers and gaming businesses in research-focused roles, including stops at LMAX, Bauer Media, among others.
A Busy Year on the Product and Regulatory Fronts
FXTM is a CySEC-regulated multi-asset online broker. It appeared in the news this year because of its high profile sport sponsorship deals – it began sponsoring a Formula One team in February, and then signed a deal with tennis star Dominika Cibulková in July. FXTM also has partnerships with teams and players across several sports.
In addition, FXTM had been ahead of the curve in the launch of new FX products space. It was one of the earliest adapted brokers for the MT5 platform.
The company had previously been operating in the EU with a CySEC license and its move to diversify its portfolio comes after registering material growth in client numbers throughout 2017. In February 2018, FXTM reported that its client base increased by 77 percent year-on-year with its number of active clients swelling by 64 percent over the same period.