FTMO, a leading brand in the prop trading industry, is entering the retail brokerage market and has appointed Michael Kamerman as CEO of its brokerage division to develop the brokerage business. The two co-founders, Otakar Suffner and Marek Vasicek, will continue to serve as CEO and CTO of the FTMO group, respectively.
More Than Just a Prop Firm
According to FTMO, entering the retail brokerage market is part of its "long-term strategy". Given Kamerman's experience with forex and CFD brokers, his appointment is also a strategic decision.
Suffner stated, "If we want to maintain our leading position in the industry, we must innovate and listen to our clients, but this doesn't mean we'll reduce our focus on our core product."
However, it's unclear when FTMO will launch its brokerage services and which markets it will initially target. Additionally, unlike prop trading, retail brokerage requires proper regulatory licenses, and FTMO's progress in this area is also uncertain.
Prop trading is a relatively new industry with surging demand. Although some well-known retail brokers such as OANDA, Hantec Markets, ThinkMarkets and others have launched prop trading services, FTMO is taking the opposite route.
FTMO is one of the longest-operating prop firms, claiming over 1.5 million registrations since its establishment in 2015. It offers prop trading services using simulated trading accounts, which is a common practice in the industry.
Kamerman said, "Like everything, online trading is constantly evolving, and traders' needs are always changing. FTMO has seized this opportunity. Their business is built on products and an endless focus on customers. They consistently drive innovation and launch trader-first solutions, which caught my attention years ago."
Appointing an Experienced Brokerage Executive
Recently, Kamerman served as CEO of Skilling, a Cyprus-licensed forex and CFD broker.
He joined Skilling in 2020, replacing its co-founder as the top executive. Under Kamerman's leadership, Skilling raised €10 million to accelerate business expansion and achieved "record highs in new clients, active clients, trading volume, net revenue, and EBIT performance" by the end of 2023.
Apart from Skilling, Kamerman has only worked for one other brokerage brand, FXCM, where he spent 15 years of his career. He joined the now Jefferies-owned brokerage brand as a sales assistant and worked his way up to become Managing Director.
Suffner also stated, "Michael's extensive experience with industry leaders like FXCM and rapidly growing brands like Skilling makes him the ideal choice for expanding our business and providing the services our clients need."
Reference：Exclusive: Prop Trading Firm FTMO to Become a Broker, Hires Michael Kamerman
