Valutrades Limited, a United Kingdom-based forex and CFDs provider, has hired Waleed Salah to lead the sales team at MENA region after spending two months as Head of the Arabic office for Blackbull Markets, a New Zealand-based retail forex and CFDs broker. According to FXNewsGroup, the appointment is part of the company’s expansion into the Arabic-speaking region.

Prior to his new role as Head of Sales in MENA at Valutrades, Salah joined Blackbull Markets in April 2021 after working for VantageFX, an Australian-based brokerage. His professional background in the industry includes working for companies like RoboForex, FBS and ATFX.

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“We are super excited to welcome Waleed to the team. We feel he is the perfect complement to our strong value proposition of low spreads, low commission, excellent customer service. Since we have not been active in the MENA region before, and since we believe this region lacks some of the credible value propositions of other regions we are excited to start sharing what we have to offer,” Graeme Watkins, Valutrades CEO, commented on Salah’s hiring.

Reasons on Leaving Blackbull Markets

Although there is no official word on why Salah left Blackbull Markets after such a short time, FXNewsGroup claims that the firm was struggling to accept and onboard MENA-based customers. “Waleed will be in charge not only of sales but establishing us in the region by presenting our business in a fully localized way including over time adding offices, staff and local language services while maintaining Valutrades core beliefs of positive, customer-focused, organic growth that has positioned us well in recent times,” Valutrades CEO said.

In April, Finance Magnates reported that Valutrades ended 2020 with excellent revenue and profits. The annual income of the broker for the financial year ending on December 31, 2020, came in at more than £3.99 million, which is 21 percent higher than the previous year’s £3.29 million. The gross profit of the company surged 32 percent in the year, reaching £3.17 million.