Retail forex broker LiteFinance announced that Ahmed Badr has joined the firm as its newest vice president of business development.
A veteran executive, Ahmed Badr has ended a short stint with MultiBank Group where he served as its branch manager in Egypt. Prior to that, he spent seven months as a regional business development manager at easyMarkets in Cyprus.
Other stops within the foreign exchange industry include working as a business development manager for the MENA region at ForexTime (FXTM). There Ahmed was tasked with identifying business opportunities to raise the company’s market share. He also spent nearly two years as a client support manager at ThinkMarkets, according to information made public on his Linkedin profile.
Over the course of his career, which dates back to 2003, additional roles include senior stints at UK-based global broker ICM.com, culminating with the position of its business development manager.
LiteFinance had rebranded to its new name back in November 2021. At the time, the broker said the move is the first step in a broader rebranding of their group of companies. At the first stage, they have changed the company’s logo, trademark, and organizational structure.
Founded in 2009, the company is domiciled in Cyprus, regulated by CySEC and provides services to clients from the European Economic Area.
The group of companies also includes LiteFinance Global LLC (formerly LiteForex), registered in St. Vincent & the Grenadines and subject to a more flexible, looser regulatory regime. LiteFinance Global LLC is reputed as an experienced and reliable broker service provider, operating since 2005.
LiteFinance made headlines recently when it expanded its footprint in the Asia-Pacific region with the opening of a new regional representative office in Singapore. The firm believes that this new presence will enhance its offering that includes multi-asset offering and prime solutions. It also improves the eFX trading experience for local partners in Singapore and the APAC region.
The expansion accommodates current client requirements and underpins LiteFinance’s strategy to grow its infrastructure and expands the availability of its product suite in line with local regulations. The products available to attract a client base consisting of FX and CFD traders, proprietary trading houses, and institutional investors that are looking to trade spot FX, precious metals and energies, along with global stock indices.