1. GKFX changed its name to Trive and hired eToro principal Dennis Austinat as managing director of the DACH region
Trive has hired Dennis Austinat, eToro's longtime head of Germany, Switzerland and Austria, as its new managing director for the company and the entire DACH region. Mr. Austinat will expand Trive's operations in the Frankfurt area.
Back in October 2022, Turkey-based Global Kapital Group underwent a restructuring that included transferring ownership of its retail (GKFX) and institutional (GKPro) brokerage businesses to Amsterdam-based Trive, Among them, Kasim Garipo Reallu, the controlling shareholder of Global Kapitall, owns the interest of the company.
Since the reorganization, GKFX has changed its name to Trive and its website to Trive.com from GKFX.com/GKFX.eu. The company's FCA-licensed B2B institutional division, GKPro, has been renamed TrivePro and its website URL has now been changed to trivepro.co. The entity in the UK was renamed Trive Financial Services UK Limited.
The move is understood to be part of Trive's expansion plans, which include the recent opening of two new offices in Frankfurt and Madrid. As we know so far, GKFX has a decent score of 8.28/10 on WikiFX.
2. Doo Group became a sponsor of Manchester United
English football club Manchester United and Doo Group, an online financial trading platform, have announced a global partnership that will see Doo Group become Manchester United's official online financial trading partner.
United's partnership with Doo Group will involve the promotion of Doo Group and its sub-brands, Doo Financial and Doo Prime. Doo Group is currently headquartered in Singapore and has operations centers in Dallas, London, Sydney, Hong Kong, Dubai, Kuala Lumpur and other major cities around the world.
In response, Doo Group Director Ian Howard said, Manchester United's transformation from a football club into a globally recognized icon and beloved and admired club is not because of the sport itself, but because Manchester United represents discipline, consistency, and drive, This resonates with Doo Group's corporate culture and brand belief.
In addition, Doo Group operates Doo Prime, an offshore retail FX/CFD broker based in Vanuatu, which caters primarily to traders in China and the Asia-Pacific region. Doo Clearing Limited, an FCA-licensed entity in the UK, is controlled by Chinese national Chen Junjie. WikiFX has given this broker a rating of 7.39/10.
3. LCG added the trading platform of IG Group
London Capital Group, an online brokerage based in London, has announced the signing of a new partnership with IG Group. LCG said that as part of the company's new development, it will work with industry-leading providers so that its customers can get the best products, technologies, and pricing from the financial markets.
In mid-December 2022, LCG's ownership was canceled and a new management team was hired with plans to revitalize the once proud brand, with the platform led by CEO Dave Worsford and Managing director Matt Basi. The partnership is also a win for IG Group, which has been quietly growing its B2B services division to provide technology, liquidity and services to small brokers.
Commenting on the announcement, Matt Basi, managing director of LGG, said: “IG's online trading platform is backed by proven, industry-leading technology, backed by IG's superior pricing, liquidity and execution. We are excited to add their platform to our existing offerings and believe this can position LCG for the next phase of its journey with brokers and high-value clients.”
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