Exness announces new Senior Market Strategist for MENA region

Karthik Subramanian

Exness, a large FX broking, and investment platform have announced the appointment of Wael Makarem as the Senior Market Strategist for the MENA region in what is seen as a move to improve engagement with the traders in this region.

The broker has been seeing increasing trade volumes and a strong growth in the user base over the last few months which have been driven by some high volatility in the FX and crypto markets during this period. But at the same time, the FX brokers around the world have started to feel the pinch of increasing competition in the European and Asian markets which has forced them to innovate and also look elsewhere as far as expansion and growth is concerned.

Mohamad Ibrahim, MENA Regional Director at Exness, commented on the new hire: “We are delighted to be welcoming Wael to the Exness team as our new Senior Market Strategist. With his long-standing experience in the forex and CFD industry and his innovative approach to analyzing the financial markets, he will undoubtedly add great value for our traders and partners. In addition to this, he will enhance our brand presence in the MENA region and be an integral part of our global strategy to reach new markets.”

The increasing competition has forced the brokers to look at the MENA, African, and Latin American regions as the next areas of growth which is why brokers like Exness have been looking to improve their presence and have also been looking to market themselves strongly in these regions to attract traders. In our interview with the Exness CEO, Petr Valov had stressed the importance of growing in the MENA region after having spent a lot of time and effort in mainland Asia so far. This push seemingly has been in the works for some time and the appointment of Wael is expected to connect well with their MENA audience.

Commenting on his appointment, Wael also added: “It’s very exciting to have joined a market leader like Exness at this point in my career and I look forward to offering the best of my expertise while representing one of the fastest-growing brokers in the industry. As part of the rapidly expanding Exness team l will support the firm’s strategy to strengthen its presence in the Middle East and support the substantial growth they have already achieved over the past few years. Exness is an extremely customer-centric business and as part of my role I will ensure all traders have the knowledge they need about the financial markets to make the best trading decisions possible.”

Wael has over a decade of experience in the financial services industry and apart from being the market strategist, he is also expected to give daily market analysis with a specific focus on the MENA region.

Read this next

Digital Assets

Coinbase CEO says Chase UK’s ban on crypto “totally inappropriate”

Coinbase CEO Brian Armstrong criticized Chase UK’s decision to restrict cryptocurrency-related transactions in the UK. He called the move “totally inappropriate” and expressed his disagreement with the bank’s decision to ban its UK customers from conducting debit card or wire transfers related to cryptocurrencies.

Digital Assets

Binance CZ refutes any connection with CommEX

Changpeng “CZ” Zhao, the founder and CEO of Binance, has denied being the owner of CommEX, the company that reportedly acquired Binance’s business in Russia.

Institutional FX

Refinitiv’s spot FX volumes hit 8-month low

Refinitiv, the former Financial and Risk business of Thomson Reuters, today reported that the average daily volumes (ADV) of currency trading were $424 billion last month on the company’s main FX trading services.

Executive Moves

Integral hires industry veteran Paul Arnold as liquidity manager

Integral, a technology provider to the financial markets’ buy-side, has appointed Paul Arnold, a highly experienced FX industry professional, as its liquidity manager, according to information made public on his Linkedin profile.

Digital Assets

Terraform’s Do Kwon challenges US extradition request

Do Kwon, the crypto entrepreneur and former CEO of Terraform Labs, is opposing the U.S. Securities Exchange Commission’s request to question him about the crash of his company’s stablecoins Terra and Luna.

Digital Assets

Coinbase gets nod to offer futures for retail customers

Coinbase International Exchange has received regulatory approval from Bermuda’s financial regulator, the Bermuda Monetary Authority (BMA), to allow eligible non-US retail customers to trade perpetual futures contracts.

Inside View

How brokers can win the trading tech wars: Insights from iFX EXPO 2023

Last week’s iFX EXPO International 2023, held at the City of Dreams Mediterranean Integrated Resort in Limassol, Cyprus, welcomed a series of insightful discussions. A panel that particularly stood out focused on the role and evolution of trading technology.

Crypto Insider

Web3 Transformation: Radix’s Babylon Update Redefines User and Developer Engagement

Radix Publishing leaps forward in the decentralized world with the release of the Babylon mainnet upgrade, bridging the gap between innovative tech and user-friendly DeFi experiences.

Digital Assets

Crypto.com Joins Forces with PayPal and Paxos for Enhanced PYUSD Exchange Experience

Crypto.com collaborates with PayPal and Paxos to fortify its position as the premier exchange for PYUSD, marking a significant milestone in the global crypto landscape.

<