Thomas Selby parts ways with IronFX after only one month
Trade EverestCM, a retail forex broker regulated by Mauritius Financial Services Commission (FSC), has appointed Thomas Selby as its chief business development officer.
Selby steps into his new position barely one month after he was installed in an analogous role at IronFX. The industry veteran, whose career in the financial service industry spans more than 17 years, confirmed to FinanceFeeds that he leaves the Cypriot broker on good terms.
Selby lands at the EverestCM after having worked with an array of FX brokers across his lengthy career that dates back to 2004.
Prior to IronFX, he spent the bulk of his career in the foreign exchange industry with Exinity, which was launched in 2020 by entrepreneur, Andrey Dashin. The group is chaired by FXTM co-founder, Olga Rybalkina and is comprised of the various retail businesses owned by Dashin, which includes Alpari International, ForexTime (FXTM) and Exinity Capital East Africa in Nairobi.
Selby spent eight years at Exinity where he held several roles including, most recently, the head of international business division. He also served as head of sales from 2014 to 2020 after he was brought originally in as a business development manager for Asia back in 2013.
Selby’s experience in the brokerage industry started at FxPro in 2007 when he joined the retail FX broker as a customer support supervisor. Then, he joined the Cypriot broker FIBO Group back in 2010.
Selby spent three years at the multi-asset brokerage and left in 2013 when he was the man in charge of leading support, sales, IB and back office departments.
Selby’s experience across the mainstream markets should help Trade EverestCM at a time when the firm is expanding the reach of the offering that is primarily focused on retail trading.
For a long time, Mauritius has been a preferred destination for those interested in operating an offshore brokerage due to the softer financial requirements, which makes it a better option than many European jurisdictions.
The benefits list includes limited setup costs, low capital requirements of about €20,000, and a favorable tax regime. But, recently it has become increasingly difficult to apply for and obtain a forex licence in Mauritius, to the point that most providers have changed their destination to Belize. This is despite the higher capital requirements and the more expensive fee structure.