“By definition, forex is where the buying and selling of different currencies takes place at a price of one currency in terms of another, also known as the exchange rate. Overall forex market is the largest financial market in the world – it is about 27 times the size of daily trading volume on all world’s stock markets combined. The Arab traders’ base in retail forex is rapidly expanding due to the growing awareness among investors on opportunities provided by this dynamic market, including the availability of Islamic forex trading products,” said Mitch Eaglstein, CEO of Fortress Prime.
Referring to his Company’s growth in the Middle East and North Africa (MENA) region, Eaglstein added: “We are extremely excited about our rapid growth in such a short period of time. Over the past several months, our team has worked diligently to achieve incredible results on all fronts. The forex landscape is changing rapidly with the recent increase in volatility and changing clients’ expectations. However, we are in a unique position to expand our market share driven by planned execution of a meticulous operational strategy and an aggressive acquisition program, in addition to our strong balance sheet.”
Fortress Prime is a division of Fortress Capital Investments L.L.C. headquartered in Dubai, UAE with operations in New York, USA, to serve MENA, Asia and Latin America regions. The company delivers trading liquidity in FX, precious metals, commodities, global indices and CFD's. It utilizes advanced MT4 and FIX API trading technology solutions in addition to advisory and operational services to retail brokers, professional clients, financial institutions, and hedge fund managers globally. “We aim to create a one-stop forex supermarket for diversified forex market players to enhance the overall customer trading experience, aided by an extremely streamlined organization, operational excellence, a culture of highest ethical standards and a diversified offering,” said Eaglstein while elaborating on Company’s core competencies. Eaglstein further added: “We successfully launched our suite of product and services in September 2014 with the main focus on servicing forex market players in the MENA, Asia and Latin America regions. We have seen exponential growth in revenue and trading volumes since the launch and, as a result, we expect to be cash-flow positive by the fourth quarter of 2014.”
In addition to this organic growth, Fortress Prime is planning to supplement its expansion in multi-jurisdictions through accretive strategic acquisitions of qualified retail and forex prime brokers. Fortress Prime expects to fund these potential acquisitions in the near term through cash on hand from its highly capitalized parent company.