Thomas Selby parts ways with IronFX after only one month

abdelaziz Fathi

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.

Read this next

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

<