BUX acquires Cyprus CIF, hires Jean-Raphael Nahas to head Cyprus CFD operations

Amsterdam based BUX, one of the fastest growing neo-brokers in Europe, has announced the appointment of Jean-Raphael Nahas as new Managing Director of its Cyprus CFD operations. This follows the hiring of veteran online brokerage executive Salim Sebbata as CEO of BUX CFD, in the summer of 2021.

BUX recently completed the process of acquiring a licensed Cyprus Investment Firm, Hua Ren (Cyprus) Financial Ltd, which was set up in 2019 by China based investors but never formally launched operations. Now renamed BUX Europe Ltd, the new operation enables the company to further grow its CFD business in the EU in a post-Brexit environment. This also marks the completion of the migration of EU-resident CFD clients from the UK to the new entity BUX Europe.

Jean-Raphael Nahas will be responsible for all European CFD business, running the firm in Cyprus, and is part of the CFD leadership team. Prior to joining BUX Jean-Raphael worked at Blackwell Global as Head of Business Development in Cyprus, at FX88, and most recently at IMS Markets. He also serves as an Industry Board Member at the University of Portsmouth.

Salim Sebbata, CEO of BUX CFD, said,

“BUX is looking forward to bringing onboard someone with Jean-Raphael’s track record of driving growth, business development opportunities and heading operational management. BUX’s CFD business is in a pivotal moment of development as we continue to build on the strong momentum of interest in the world of online trading. The EU and UK markets remain key hubs for the group and are also attractive target markets. Jean-Raphael’s previous experience aligns well with our plans to catapult BUX’s CFD business into the next phase of growth.’’

Jean-Raphael Nahas, Managing Director Cyprus CFD operations, added,

“BUX is a well-established and respected brand in Europe. Its vision and ambition are driven by a multi-cultural and highly talented team. BUX X is a unique in-house built mobile app, that is one of the most innovative trading apps in the world due to the unique combination of social and financial trading enhanced with gamification features.  BUX continues to differentiate itself within the CFD space, and with its strong growth plans, I look forward to working with the talented team and bringing BUX X to the next level.”

BUX X is actively onboarding new clients during this time and continues to develop the platform even further to provide a first-class, unique platform for traders to trade CFDs in stocks, indices, commodities, and currencies in a simple, accessible and innovative way. The team in London and Cyprus has expanded by 20 new hires (and counting) to support further business growth. BUX also plans to further expand its European footprint in the coming months and recently added crypto CFDs where clients can now trade in popular assets such as Bitcoin, Ethereum, Ripple and Litecoin.

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