LeapRate Exclusive… LeapRate has learned that Adam Toro has left his position as CEO and a Director of Amana Financial Services UK Limited, the FCA regulated arm of global Retail FX brokerage group Amana Capital.
Adam Toro had been in his position at Amana UK less than a year, joining the company last fall from embattled broker GCM Prime, where he had been CEO from 2015-2017.
Prior to joining GCM he had been with FXCM for more than 12 years, serving at the time of his departure as Vice President, Institutional Sales and Business Development.
We understand that his departure was partway a decision taken by the company’s board and global management. We believe that the company will name a replacement shortly.
The move comes as Amana has been expanding worldwide, both geographically and product-wise. The company recently launched its AmanaPro institutional solution, and introduced MT5 crypto CFD trading back in May.
Amana Capital is controlled by Lebanese-Canadian brothers Hazem and Karim Farra. The company is part of the 180 Capital group, managed globally out of the UAE by CEO Ahmad Khatib. It also manages Trade Captain (tradecaptain.com), a recognized global financial news and research portal. Amana Capital services clients in over 80 countries. Subsidiaries are regulated in the UK (FCA), Dubai (DFSA), Cyprus (CySEC), and Lebanon (BDL).