TopFX parts ways with director of institutional sales Michael Nichols

abdelaziz Fathi

Institutional-focused prime of prime broker TopFX has parted ways with its director of institutional sales Michael Nichols.

Michael Nichols

In a Linkedin post on Friday, Nichols announced his departure without revealing further details about his next destination.

He joined the Cyprus-based company in the role of head of institutional sales in April 2019. The move to hire Nichols was clearly intended to boost bottom line sales and expand the reach of the company’s newly-launched operations.

In October 2019, he was elevated to take on an expanded role as director of institutional sales. The experience Nichols accrued during his nearly 8 years in sales positions likely influenced TopFX’s decision to hire him to guide its institutional sales department. At the time, the firm announced plans for expansion in non-EU jurisdictions and the launch of a new program for introducers and fund managers.

FinanceFeeds webinar: Expert panel to discuss market data for multi-asset brokerages  

Prior to joining the TopFX team, Nichols was B2B sales consultant at Panda Trading Systems, which specializes in building technology for the online financial trading industry. There, he was assisting brokers and introducing them to Panda’s technology that can help them increase their KPI’s and manage a brokerage business.

Other stops include working as account manager at 24Option. The latter had been one of the leading and longest-running binary options brokers until it has switched gear in 2018 and focused their offerings completely on the CFDs and forex markets.

Nichols’s experience in FX industry sales extends further back, from his time at MindGeek where he worked as a content analyst for nearly two years, dating back to 2013. During this tenure, he worked in charge of compliance regulations for social media based out of Cyprus.

Commenting on his departure, Michael Nichols said:

“It has been an exciting journey working as Head of Institutional sales TOPFX LTD , I would like to personally thank the company and team for everything I have learned throughout my three years at TopFX. I have met some truly amazing people, learned a lot and watched the institutional department grow. Although bitter sweet, I look forward to the next chapter in my life and continuing my career working for companies that shape the industry and have clear strategic focus on expansion. Happy holidays to TopFX and to all the people that make it.”

Read this next

Digital Assets

Zero Hash obtains AUSTRAC registration in Australia

Seed CX is expanding the reach of its crypto settlement solution, dubbed ‘Zero Hash,’ which has registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a digital currency exchange provider.

Digital Assets

UK advertising watchdog slams Arsenal over misleading crypto ads

The UK advertising watchdog has reprimanded Arsenal Football Club for promoting crypto assets without warning fans of the potential associated risks.

Retail FX

Swissquote profit slips as crypto revenue falls by two thirds

Swissquote Group, Switzerland’s provider of online trading services, reported that its H1 revenues dropped by nearly a quarter from a year ago as clients’ interest in crypto trading stagnated.

Digital Assets

Crypto.com granted approval to operate business in Cayman Islands

Crypto.com, one of the longest-established crypto platforms, has obtained a new registration in the Cayman Islands under the Virtual Asset Services Providers Act.

Executive Moves

United Fintech hires Mitch Vine and Danny Finnerty to expand US footprint

“United Fintech’s expansion in the US is pivotal to our mission of helping financial institutions digitize and gain access to best in class capital markets focused technology.”

Digital Assets

Ankr backed by Binance Labs after several initiatives in support of BNB Chain

Ankr has made a series of upgrades to the BNB Chain, including Erigon, the Archive Node, and the latest BNB Application Sidechain (BAS) scalability solution.

Retail FX

Financial Commission terminates membership of LordFX

The Financial Commission, an independent self-regulatory compliance specialist for the financial services industry, has expelled forex brokerage LordFX from its membership, according to a FinaCom statement.

Industry News

Match-Prime Liquidity sponsors Cypriot football club Omonoia FC

“We feel privileged to support Omonoia as it’s one of the largest teams in Cyprus, fandom size-wise, and we know it has a special connection with its supporters.”

Institutional FX

XTB’s X Open Hub adds 30 cryptos to white label offering for brokers

Its solutions include deep institutional liquidity on more than 5,000 global instruments, such as indices, shares, forex, cryptocurrencies, commodities, and ETFs, and a white label platform that can be fully customized and branded for each brokerage.

<