Michael O’Sullivan who has been an essential part of CMC Markets for 14 years straight has made a decision to transfer to the Financial Conduct Authority (FCA) regulated broker ATFX. This information comes from his Linkedin page where he updated the information about his new employment.
ATFX is a brokerage firm that specializes in the foreign exchange market (Forex, FX), CFD, precious metals, and another commodity trading. It serves people across the whole globe and is regulated by the British Financial Conduct Authority (FCA) with headquarters conveniently placed in London. Michael is going to be leading the Project Management department while focusing on delivering top of the line digital customer solutions.
The information comes from his LinkedIn page where he has updated his current position. At this moment, there are no specifics as to what he is going to be doing, however, it is known that the ATFX UK wants to expand its operations in and outside of the EU while providing educational materials to its customers.
This is most likely the digital customer solutions is this very exact educational provision that the company is trying to offer. However, education is not a unique thing for a large brokerage like ATFX UK. Medium and small-sized brokerages also consider this as a priority project when starting out or even being decades into operations. If you read the XM review here, which is a perfect example of good medium-sized brokerage you will quickly notice that there is nothing unique in what ATFX UK is currently trying to offer to its customers.
XM offers a number of educational videos, webinars, tutorials, and other invaluable materials for the trader to enhance their operations. One of the main reasons for hiring Michael could be to somehow make their educational projects much more customized and unique. Although, all of this is just a speculation as he has only changed his position on LinkedIn and has not disclosed any other specifics as to what he is going to be doing exactly.
On his LinkedIn account, he describes himself as a person having “senior financial trading experience across B2C, B2B, matrix-style, and international organizations” with being skilled at “developing and managing strategic affiliate, franchisee, and partnership distribution channels.”
Michael’s background comes from hard 14 years of work in the field. He is very knowledgeable about forex market operations and has worked on multiple different projects and positions at different brokerage hoses. This is something that ATFX UK has decided to monetize on and picked him out for their team as a new acquisition.
Michael O’Sullivan is a great addition to ATFX UK. Most of his career he has been working hard with the CMC Markets where he managed to help the company during the development of the universal sales strategy for global operations.
ATFX UK has revealed to the Finance Magnates magazine that it has successfully received approval from the FCA to increase the share capital to 3.15 million pounds. This comes soon after the first boost that happened just a month prior when the capital increased to 1.5 million pounds.
The previous increase has been utilized to hire new native speaking personnel for Europe and outside of the EU countries where the company is aiming to expand. ATFX UK is also going to be establishing a new office hub in Krakow, Poland which will be focusing on IT development, marketing, and Search Engine Optimization (SEO).
This is a bit of a questionable decision coming from the regulator since the company actually reported a loss of 383,661 pounds last year due to the administrative expenses, sitting at 2.06 million pounds, which is outpacing the gross profit of 1.68 million pounds.
The extra budget is going to be utilized to enhance the brokerage firm’s operations across the whole European Union and provide localized services to its customers. This is a part of a bigger plan to gain more stable footing across the whole globe. Apart from this, the multi-regulated broker is also looking to enhance their arsenal of product suites.
These are going to be instruments targeting institutional as well as retail investors. One of the newest additions to this is the ATFX Connect product line which is for the institutional investors to have more instruments and services at hand.
The new finances are also going to be targeting the educational side of the traders. However, this leaves a bit of a sour taste in the mouth for people who are already familiar with different brokerages. The educational projects are extremely important for every trader but it goes without saying that this is nothing new and ATFX UK is just playing a catch up with this initiative.
A number of other brokers already have this type of service for their customers and it has proved to be a successful endeavor. The initiative to add more is always welcome from the ATFX UK’s side but it just leaves them feeling that this broker could have already made such materials even without tripling their budget.
The firm is planning to create online events and courses for different traders and their other clients. The Managing Director of ATFX UK, Wei Qiang Zhang, has made an exclusive statement to the Finance Magnates magazine saying:
“Our values underpin the successes achieved by the company and therefore we see no need to change our model but to instead press ahead with our strategy.”
Wei Qiang Zhang has also reiterated that the support form shareholders has been immensely mentioning the hard-working staff and the culture of the company to be the main drivers of this progress:
“With overwhelming support from our shareholders and clear leadership, we’ve built a great culture that ensures confidence in our team. That confidence drives us to continue our investment and expansion plans to better serve our clients. We will deliver on this because our values are reflected in the attitudes and behaviors of our staff without whom the achievement of our vision would not be possible.”
Finally, Wei Qiang Zhang also reiterated his excitement about the close future of the firm saying:
“This is an exciting time for us, despite the current economic climate, we’re confident our expansion plan will bear fruits in the long term. Putting our clients at the forefront of all decisions will help us create relationships and loyalty with them for years to come. We endeavor to be proactive in identifying and meeting the ever-changing needs of our customers and plan to continue improving our processes, services, and products to cater to clients…”