Australian-owned Forex (FX) and Contracts For Difference (CFD) trading provider AxiCorp has appointed Torsten Gellert as head of its operations in Germany as it continues its global expansion.
Gellert, a seasoned executive in the CFD and FX industry, has managed and expanded similar operations for CMC Markets and FXCM in his previous roles.
Louis Cooper, Global Head of Retail Services at AxiCorp, shared Gellert’s appointment is part of AxiCorp’s global push to grow its market share by entering new markets and introducing new products.
Torsten has an enviable track record in the German market,” Cooper added. “He’s been instrumental in growing the client base in this market and he’s definitely a great addition to our global team.
With his appointment, Gellert will be responsible for growing AxiTrader’s presence and market share in Germany, Austria, and Switzerland. The German market alone is home to approximately 58,000 retail FX and CFD traders who are technically sophisticated.
With an estimated annual growth of 5-10%, the German market for CFD and FX is one of the biggest retail trading markets. In its most recent market report, the German CFD Association estimated that the annual CFD trading volume in Germany is around 1,963 bn EUR in 2015.
Talking about his new role with AxiCorp, Gellert said:
I am joining AxiTrader at a very interesting point in time when the company undergoes significant change to position itself as a truly global company. The commitment of AxiCorp and the Management team to the German market is a testament to that.
Germany is an exciting market that has seen continued growth and huge demand from a very sophisticated community of traders. Based on my years of experience in working in this market, I know for a fact that traders here are looking for high-quality customer service, education, and robust trading platform,
My role at AxiTrader will focus on bringing our amazing product and award-winning service to the German market place and working with clients of all sizes and experience levels,” Gellert said.