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

Swiss regulator shuts down CoinShares’ partially-owned FlowBank

Switzerland’s financial regulator, FINMA, has closed FlowBank SA and placed it into bankruptcy due to severe breaches of capital requirements and other supervisory laws. This follows a series of enforcement actions against the bank that began in October 2021.

blockdag

Presale Power Players: 5 Crypto Presales Primed for Success in 2024 According to Experts

Unlock the potential of the best presale cryptos available now. See why experts recommend BlockDAG, Bitbot, eTukTuk, 99Bitcoins Token, and ButtChain.

Executive Moves

Paxos axes 65 jobs, cuts headcount to below 300

Stablecoin issuer Paxos has laid off 65 employees, equating to 20% of its staff, despite maintaining a robust financial standing.

Institutional FX

US sanctions trigger major shifts in Russian FX market, says Sergey Romanchuk

The U.S. sanctions imposed on June 12 against the Moscow Exchange and its clearing entity, the National Clearing Center (NCC), are set to cause massive disruptions in the Russian currency market, according to FX industry veteran Sergey Romanchuk.

blockdag

BlockDAG’s X1 Miner App Beta Sparks $49.2M Presale Rise; Uniswap & XRP Whales Getting Involved?

Experience BlockDAG’s meteoric 1120% presale rise, Uniswap’s UNI climbing 18%, and Ripple’s XRP anticipating ETF approval. Explore their latest breakthroughs!

Market News, Tech and Fundamental, Technical Analysis

GBPUSD Technical Analysis Report 13 June, 2024

GBPUSD currency pair can be expected to fall further toward the next support level 1.2700, which has been reversing the price from last month.

Institutional FX

U.S. sanctions halt dollar and euro trading on Moscow Exchange

New U.S. sanctions against Russia have led to the immediate suspension of trading in dollars and euros on the Moscow Exchange (MOEX), the country’s largest exchange group.

Digital Assets

MicroStrategy raises $500M to buy more Bitcoin, now holds 214,400 BTC

MicroStrategy, the largest corporate investor in bitcoin, plans to raise $500 million through a convertible senior note offering, with an option for an additional $75 million.

Crypto Insider

7 Best Upcoming New Crypto Coins : From  World of Virtual and Augmented Reality

In 2024, all new buyers want to know about the best upcoming new crypto coins. For those who have invested before, you know that there are often “hidden gems” that can give you huge returns on your money.

<