Forex and CFDs broker CM Trading has appointed Peter Wiersma as its Marketing Manager. The company is providing its services largely in South Africa. The firm has a significant presence in the local market and is regulated by the local financial regulator.
Wiersma previously worked as the marketing director of DX Exchange and also held a senior VP of Marketing role at Israeli firm Toyga. He has significant experience in the affiliate business and is likely to focus on building up the marketing effort of CM Trading in the hot African market.
The news comes amid increasingly challenging times for the industry, especially across regulated markets. Brokers that are facing increasing scrutiny on the part of payment processors and regulators are actively looking for ways to diversify their income.
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A focus on the African market
According to the public profile of the company on LinkedIn it is headquartered in Johannesburg and has over 50 employees. Wiersma’s profile on the social network for professionals states that he will be executing his duties from Israel.
CM Trading is a relatively new company, established in 2012 and focused strictly on the emerging African market. The broker is delivering to its clients access to the MetaTrader 4 platform as well as Leverate’s Sirix platform.
The company’s offering spans across forex, indices, commodities, stocks, and cryptocurrencies.
South Africa has been a keen focus for forex brokers since the country introduced a regulatory regime several years ago. It remains one of the most interesting markets for regulated firms. Earlier this year ThinkMarkets announced an acquisition in the country. Other brokers are also actively expanding their efforts in the region.