iFOREX Appoints Ex-Amdocs Executive Daniel Shalom as Chief Operating Officer

iFOREX has appointed Daniel Shalom as its chief operating officer, placing a technology and data executive in charge of the CFD broker's daily operations. He assumes responsibility for business operations, customer experience, product, and technology with immediate effect.

The company stated the appointment supports its plan to scale growth and deepen the use of data and AI across the client lifecycle. iFOREX reiterated this focus, having reinstated a head of innovation last year to oversee AI initiatives following the launch of its AI-powered trading recommendation service, Pulse.

Shalom joins from Yad Vashem, where he served as chief information officer and managed a technology overhaul involving a six-petabyte data and cloud environment. Prior to that, he spent eight years at Amdocs, most recently as vice president of data and AI, leading a 500-person team, according to iFOREX.

CEO Itai Sadeh said the appointment "strengthens our ability to continue developing our proprietary platform." This follows iFOREX's hire of former CMC Markets analyst Michael Hewson as a senior strategist in April, part of a series of senior appointments since the broker went public.

iFOREX is among several retail brokers prioritizing data and AI at a leadership level. Equiti recruited a former Meta software engineer in December to establish a new AI team, while Trading 212's head of product left in May to focus full-time on AI.

The executive reshuffle coincides with challenges for iFOREX's public listing. The broker priced its London IPO at approximately £43.3 million in February after an eight-month delay, raising £8.75 million. Trading liquidity dwindled quickly, with shares effectively frozen weeks after debut amid minimal analyst coverage and a free float of just 20%.

iFOREX reported a $3.2 million loss for 2025 on roughly flat revenue of $49 million. More than half of its revenue remains concentrated in Asian markets where it operates without a local license, a dependency the IPO aimed to reduce. For iFOREX, its AI strategy now joins licensing and stronger financial results as factors analysts cite needed to move the stock. Shalom commented his priority is "continuing to apply data and AI across the client experience."