CFD broker Kudotrade has hired Stathis Flangofas as its new Chief Financial Officer (CFO) as the company prepares to launch its proprietary trading platform later this month.
Flangofas joins from a 16-year career at major brokerages, including Capital.com and HFM, where he handled large-scale financial operations and regulatory compliance. His appointment comes just days before Kudotrade plans to roll out Kudo Funded, its prop trading platform that will allow traders to access capital without risking their own money.
"We are thrilled to welcome Stathis as our new Chief Financial Officer," said Finley Wilkinson, Director at Kudotrade. "His extremely impressive background and proven track record in leading financial strategy at top-tier institutions make him an invaluable addition to our leadership team."
Deep Financial Leadership Background
Flangofas brings substantial experience from his most recent role as Group CFO at HFM, where he spent over a year managing financial planning and forecasting across multiple subsidiaries. At HFM, he provided strategic financial input to the CEO and board while overseeing cash flow management, client fund segregation, and treasury operations across multiple regions.
Before HFM, he served as Group CFO at SquaredFinancial for more than three years, managing the company's financial planning and cash flows while leading finance teams in Cyprus and internationally. His tenure at Capital.com as Group CFO from 2018 to 2021 involved handling regulatory reporting for both CySEC and FCA, along with developing yearly business plans and forecasts.
His experience extends beyond traditional CFO roles. Flangofas simultaneously held the Group CFO position at Currency.com, described as the world's first regulated tokenized securities exchange, where he managed financial operations for the crypto trading platform. He also served as a Non-Executive Director at HYCM for nearly a decade, chairing the risk management committee.
Timing Points to Expansion Push
The CFO hiring suggests Kudotrade is gearing up for growth. The company operates under a Mauritius Financial Services Commission license and serves clients across more than 130 countries. The broker gained attention earlier this year when it secured regulatory approval and began recruiting experienced professionals from established CFD firms.
Flangofas will oversee financial strategy and risk management as Kudotrade enters the competitive prop trading space. The sector has seen established CFD brokers like OANDA and Axi launch their own funded trader programs, while traditional prop firms have moved into brokerage services.
"The story of Kudotrade really impresses me, particularly for how it has quickly established itself as a truly innovative broker," Flangofas said about his appointment.
Prop Trading Platform Ready for Public Launch
Kudo Funded is scheduled to become available to the public by mid-September, according to the company. The platform will compete with existing broker-backed prop trading services in a market where surveys show about 60% of traders prefer platforms backed by established brokerages.
Kudotrade's entry into prop trading follows a broader industry trend. Major CFD brokers have added funded trading programs as supplementary revenue streams, while dedicated prop firms have moved in the opposite direction by acquiring brokerage licenses.
The company has been building its team throughout 2024, hiring executives from CAPEX.com, Amana Capital, BDSwiss and other established firms. For example, Wilkinson, who previously worked at trading education platform TeamFX, has moved through several roles at Kudotrade since joining as Chief Marketing Officer.
The broker offers CFD trading with what it describes as low spreads and fast execution, targeting both new and experienced traders through its technology platform.
