ActivTrades taps Vikeshkumar Purohit amid push into DACH markets

abdelaziz Fathi

CFDs and FX broker, ActivTrades has promoted Vikeshkumar Purohit to take on an expanded role as head of UK and DACH markets.

Purohit has been with ActivTrades since 2019, having originally joined the firm in 2019 as a senior account manager. Prior to that, he held senior sales roles at the UK business of Middle East-focused broker, ATFX. While there Purohit established a new market within the DACH-region by creating marketing and business strategies.

DACH is an acronym used to describe Germany, Austria, and Switzerland. These neighboring countries, which have a total population of almost 100 million inhabitants, represent the largest community where German acts as the de-facto nationwide language.

Based out of London, Purohit’s career encompasses different stints at top FX brokers including London Capital Group and IG Group.

Beyond strengthening its position in its homeland, ActivTrades has been actively growing abroad. The company made headlines recently after it updated its trading offering to provide its clients with the opportunity to trade fractions of stocks.

The multi-regulated broker is rolling out a fractional trading feature as a way to lower the bar for young investors. The feature allows small-bucks traders to diversify their portfolios by spreading their relatively small capital over a broader range of stocks.

With fractional shares, ActivTrades’ clients can buy a “slice” of stock that represents a partial share. For example, they can buy 1.5 or 1.05 of an Amazon share, or any other company available on the platform. Meanwhile, the minimum order volume remains the same – one share.

The trend picked up as retail brokers look beyond the no-fee trading war, which set off a new rush among other firms to do the same amid increased competition in the industry to attract the next generation of investors.

Meanwhile, ActivTrades highlighted how its offering is more appealing to a wider audience since it executes all fractional trades in real-time during market hours. This goes against other firms’ products that execute similar trades at the end of a trading day or wait for multiple orders to add up to full shares rather than holding the remaining shares on their balance sheet. That, however, means more market risk and exposure to volatility.

ActivTrades is an FCA-regulated broker that operates three branches of the business outside the UK, in Italy, Bulgaria, and in Dubai. The branch in Sofia, established in 2012, handles all the technical aspects of ActivTrades business, as well as the responsibility for risk control, and some client services.

Read this next

Digital Assets

OneCoin founder Ruja Ignatova is selling penthouse in UK

OneCoin founder Ruja Ignatova, who steered one of the world’s biggest cryptocurrency frauds, is back into the spotlight more than five years after vanishing from the public eye.

Digital Assets

Bitpay taps MoonPay to offer access to +60 cryptocurrencies

Crypto payment service provider Bitpay said it’s partnering with exchange and web3 infrastructure provider MoonPay to provide its users with easier access to buy cryptocurrency instantly.

Digital Assets

New York investigates Gemini over FDIC insurance claims

New York regulators are investigating Gemini over “false and misleading” claims the Winklevoss-owned exchange had made about whether client funds are insured by the government.

Digital Assets

Binance launches Mastercard-backed crypto card in Brazil

In partnership with Mastercard, crypto giant Binance is launching its pre-paid card offering cryptocurrency “rewards” on customers’ purchases.

Digital Assets

Circle publishes a breakdown of USDC reserves for December

Boston-based stablecoin issuer Circle has revealed a breakdown of its reserves for December 2022, as well as a complete list of USDC reserve custodians.

Retail FX

Monex reports lower revenues as crypto downturn bites

Monex Group has reported its Q3 2022 financial metrics, which saw a reversal in terms of its revenues as TradeStation was grappling with a crypto market crash that has tanked the profitability of its crypto business.

Inside View

Broadridge report finds 27% of firms’ overall IT budget goes to digital transformation

“A new chapter in digital transformation is emerging. In our work with clients across the financial services industry we see leading firms are already reaping the benefits from digitalization and the use of technologies such as AI and blockchain/DLT, as they adapt to economic headwinds and new competitive dynamics”

Executive Moves

Ripple announces Monica Long as President

“I’m incredibly honored to take on the role of President at Ripple as we expand deeper into crypto-enabled services like liquidity, settlement and custody.”

Executive Moves

Arabesque AI appoints Carolina Minio Paluello as CEO

“Arabesque AI is uniquely positioned to service the asset management industry’s need to meet the growing market demand for hyper customised portfolios.”

<