Andrew Gibson, a veteran of the forex and contracts for differences (CFDs) industry, has left his executive role at Tavira Financial (previously Tavira Securities) to launch Timberfx as a Co-Founder, Finance Magnates learned exclusively. He is the major shareholder in the new brokerage brand and holds the position of Chief Executive Officer.

Timberfx to Offer Services with a Seychelles License

With an expected launch date of 1 March 2024, Timberfx is now in the process of securing a license from the Seychelles regulator.

The new brokerage brand will offer trading services with forex and contracts for differences instruments. It will also provide crypto CFDs and non-deliverable forwards (NDFs). Initially, all the trading services will be offered on MetaTrader 5, with the possibility of adding other platforms as well.

Speaking to Finance Magnates, Gibson revealed that services and support for the new brokerage will be offered from its offices in Cyprus. He is now focused on securing staff for the full-fledged start of operations from January.

"We will offer some innovative pricing structures to IBs," Gibson told Finance Magnates, adding his platform will take a unique approach with "educational services and training" and "automated bespoke trading strategies."

He further highlighted that it is expensive to launch a brokerage brand with costs covering license purchase, license purchase, legal fees, company incorporations, and websites.

Despite the challenges, he said he launched the brand as it "seemed like the way to get noticed as a ‘fresh face’ in a crowded market."

A New Broker by a FX/CFDs Industry Veteran

Gibson brings 40 years of financial industry experience to his new brokerage brand. As seen on his LinkedIn profile, he started his career in the financial services industry in 1986 and spent years at many well-known brands.

He started Timberfx after spending a couple of years at Tavira Financial as the Head of Product Development for FX and CFDs. Before that, he spent three years at Cyprus-based Alfa Capital Markets, first as the Head of Institutional FX Sales and then as the Head of Institutional Sales.

Other prominent brands where Gibson held crucial positions are BCS Financial Group, Fastmatch, TradAirTradAir, ABN AMRO Clearing Bank, Fortis Bank Global Clearing, TraderTools, and a few others.