After accumulating 15 years of experience in the FX/CFD industry, Sam Eder, the former Head of Emerging Markets at OANDA, has embarked on a new entrepreneurial journey.
He unveiled his latest endeavor, the “Market Mates” project, on Thursday, marking his departure from OANDA. Notably, this isn’t Eder’s first foray into the world of business.
Eder’s career in financial markets commenced in 2008 when he joined the Australian branch of GFT Markets.
In 2013, he made a move to Invast Securities, where he assumed the role of Director in the Sales and Customer Experience Department.
In 2014, Eder initially ventured into entrepreneurship with FX Renew, a platform offering trading signals generated by former investment banking professionals and hedge fund experts.
However, after a five-year stint, he sold the business and returned to a salaried position.
Subsequently, Eder joined the OANDA team, where he spent seven years of his career.
During this period, he served as the Head of Sales for the Asia Pacific region, and for the last two years, he held the role of Head of Emerging Markets.
As of early February 2024, Eder has bid farewell to the renowned brokerage brand to establish Market Mates.
Specific details about the company’s focus remain undisclosed, with the marketmates.com website still under construction.
Speculation suggests it could be an independent FX/CFD brand or, akin to FX Renew, a service catering to retail investors or brokers.
Market Mates is poised to offer innovative pricing structures to IBs (Introducing Brokers), as confirmed by Eder’s statements to Finance Magnates.
The platform will adopt a distinctive approach, encompassing “educational services and training” as well as “automated bespoke trading strategies.”
This transition from established careers to entrepreneurial pursuits is a prevalent narrative in the FX/CFD industry and the broader business world.
Seasoned directors and senior managers with extensive experience often choose to venture out on their own, as exemplified by various instances in the sector.
For instance, just two months ago, Andrew Gibson, another industry professional with significant FX/CFD expertise, departed from Tavira Financial to launch his own brokerage firm, Timberfx.
The official launch of Timberfx is slated for March 2024, with offices based in Cyprus.
Gibson’s current focus is on recruiting the necessary staff to ensure a seamless start of operations in January.
Gibson, like Eder, envisions innovative pricing structures for IBs and a unique approach centered on “educational services and training” and “automated bespoke trading strategies” within his new brokerage.
Both Eder and Gibson epitomize the trend of experienced individuals transitioning from employee roles to entrepreneurship within the industry, showcasing the enduring spirit of innovation and growth in FX/CFD.