Cyprus based FX industry expert George Agathangelou leaves Tradeworks to join global FX startup

Just a few years ago, Cyprus was regarded by many as a small island in the Eastern Mediterranean region which was famous for offshore bank accounts and European tourism. Favorable tax conditions and membership of the European Union led to Cyprus being a very interesting jurisdiction for investors from Britain, Russia and Eastern Europe to […]

Just a few years ago, Cyprus was regarded by many as a small island in the Eastern Mediterranean region which was famous for offshore bank accounts and European tourism.

Favorable tax conditions and membership of the European Union led to Cyprus being a very interesting jurisdiction for investors from Britain, Russia and Eastern Europe to establish head offices whilst conducting their business in their countries of origin.

Nowadays, initiated by a will to attract the entire component structure of the world’s retail electronic trading sector onto its very pleasant shores by combining these favorable conditions with a financial markets licensing arrangement that would allow Europe-wide credibility and market access, CySec’s very retail brokerage friendly procedure having created an environment in which over 150 electronic trading entities exist on an island with a population of just 800,000.

George Agathangelou

This has also created an extremely competitive talent-based environment in which professionals in the electronic trading industry across all sectors from platform providers, liquidity aggregators, trading platform integration companies, marketing experts, regulatory consultancies and the retail brokers themselves have to continue to advance their skills in order to remain at the top of the retail industry.

As a result, Cyprus’ FX industry has honed the talents and abilities of some now globally recognized industry figures, one of whom is George Agathangelou.

Mr Agathangelou, who joined former Saxo Bank executive Mikael Breinholst’s electronic trading technology venture Tradeworks in November 2016 to specialize in business development, before being promoted to VP Business Development at the company in April this year, has now left the company to join a multi-regional venture.

Tradeworks, based in Copenhagen, Denmark, produces cloud-based trade automation software designed for individual Forex and CFD traders. Following the departure of Mr Agathangelou, Katy Parks, formerly of ConversionPros, continues her role at the company as an instrumental part of its sales and marketing effort at the company’s Cyprus operations.

Well recognized as having an extremely comprehensive technical understanding of the entire structure of the FX business, Mr Agathangelou’s departure from Tradeworks, which he regards as a very good quality company, represents his move toward his own project, which it is understood from very reliable sources is likely to commence operations in the first two months of 2018.

he new entity, which will be based in Cyprus, has trusted Mr. George Agathangelou the position of Head of Dealing on Own Account.

Before joining Tradeworks, Mr Agathangelou was General Manger and Executive Director of retail FX brokerage FXGlobe between December 2015 and October 2016, joining the company from MobOption, where he was RTO Officer and General Manager.

Speaking earlier this year to FinanceFeeds, Mr Agathangelou explained his perspective on the advancement of automation and specialist software in the FX industry, demonstrating his specific technical predilection.

“Today, DMA is often combined with algorithmic trading giving access to many different trading strategies. A modern automation system should certainly increase trading flows based on these strategies.”

“The type and quality of the flow it will generate will be quite favorable and can easily be handled by any A or B book broker. In theory, we see that no trading system will profitably beat the market forever, hence, a full, zero-touch, trading system has to be easier to develop than today, as the trader has to expect that is has to either change over time or be replaced by another system better handled to cope with changing market conditions” he said.

“What we should expect is this type of technology will enable automated retail flow to provide additional liquidity in the markets and further reduce bid-ask spreads as markets become increasing competitive and automated” he concluded.

Educated at the Aristotle University of Thessaloniki, Mr Agathangelou holds a Batchelor’s degree in Economics, and following his graduation in 2006 completed a three year MBA Masters degree in Business Administration at the Cyprus International Institute of Management.

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