Before we get to the top FX industry news stories of the week, we’d like to take this opportunity to thank you, our readers, for making FNG the leading FX industry news site in 2022.
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On to this past week’s top stories – which as usual all appeared first or exclusively on FNG.
How much money did Australia/UK based Retail FX and CFDs broker ThinkMarkets raise (and from whom), in what the company termed a pre-IPO financing round?
Which Retail FX broker is spending millions of dollars on a Super Bowl 30-second TV spot, targeting a mainly US audience?
What rebrand is Cyprus based broker FXPrimus planning?
Who is the new CEO at TIO Markets?
Who is Invast Global’s new CMO?
We have all the answers, read on below.
Some of the most read and commented-on FX industry news stories to appear over the past seven days on FNG included:
eToro spending millions on Super Bowl ad. What was the most money ever spent by a Retail FX broker on a single ad? Well, this one probably takes the prize. With the USA’s most looked-forward-to TV advertising day coming up next Sunday with the Super Bowl LVI championship game in American Football set for February 13, advertising sources are reporting that eToro is planning on running a national ad during the game. While Super Bowl broadcaster NBC hasn’t released official data, advertising industry sources are reporting that 30-second spots for this year’s game are selling at a record USD $6.5 million, up about 20% from last year. The speculation is that the ad will center around eToro’s crypto trading offering. Other crypto trading firms running Super Bowl ads this year include Crypto.com and FTX.
ThinkMarkets secures $30M in funding from leading institutional investors. Multi-asset online trading firm ThinkMarkets announces the recent successful closing of a US$30 million funding package which will enable rapid growth across existing and exciting new business initiatives in 2022. A total of US$30m was provided by Mars Growth, a Liquidity Group and MUFG joint venture fund. This facility was completed using Liquidity Group’s innovative artificial intelligence platform Liquidity Analytics and was introduced to ThinkMarkets by Singapore-based ARC Investments. “It has been our pleasure to work with Nauman Anees and his great team at ThinkMarkets to provide them with the funding to continue rapidly scaling their fintech business.” Ron Daniel, Co-Founder & CEO, Liquidity Group.
Exclusive: FXPrimus planning rebrand and new look. FNG Exclusive… FNG has learned that Cyprus based Retail FX and CFDs broker FXPrimus is planning to change up its look and logo in the coming weeks, although it appears as if the company is keeping its current moniker as part of the rebrand. FXPrimus released a brief teaser video on its social media channels, with the headline Stay tuned, our new look is coming soon. FXPrimus operates both an onshore, CySEC-licensed business via CIF license holder Primus Global Ltd, as well as an offshore entity in Vanuatu, Primus Markets INTL Ltd. The company is controlled by Malaysian businessman Manmohan Singh Balbir Singh, who also owns Retail FX broker TIO Markets, spun off by FXPrimus a few years ago.
Pepperstone targets Day Traders with new Saatchi & Saatchi global campaign. Following a competitive process across ANZ last year, Australia based CFD broker Pepperstone has announced that it has appointed Saatchi & Saatchi New Zealand as its global strategy and creative agency to assist with the development and launch of a new brand proposition to market. With a growing global footprint, licensed in seven jurisdictions and a history of over ten years, Pepperstone said it was keen to shake things up. The light-hearted campaign is designed to stand out from the masses of stock-footage-filled and typical earnest trading communications, taking viewers into the mind of the trader, giving Pepperstone a distinctive voice in the market to grow brand awareness through a memorable platform idea.
Top FX industry executive moves reported at FNG this week included: