Mitrade Promotes Timur Konsky to EU CEO, Reports 148% Volume Rise

Mitrade EU has promoted Timur Konsky from chief operating officer to chief executive officer, effective Thursday. He will lead the CFD broker's European retail expansion as the parent group reports a surge in trading activity. 

The firm said lots traded rose 148.4% in the first seven months of 2026 from a year earlier, while active clients increased by more than 50%. 

Konsky's first assignment is Germany, where Mitrade plans to use feedback on onboarding, costs, platform use, risk controls and support before entering more European markets. "Europe ... is not a single retail market," Konsky said, citing differences in trading habits, product preferences, pricing and support across countries. 

Germany offers a large investing population but a much smaller leveraged-trading pool. Research in July counted 14.1 million share, fund or ETF investors in 2025, but only 63,000 people actively traded CFDs or FX in the 12 months to February 2025. 

Mitrade did not disclose a launch timetable, hiring plan, acquisition budget or client target for Germany. The EU operation currently offers CFDs under a Cyprus license. 

Other brokers have expanded in Germany with products outside the conventional CFD model. CMC Markets launched listed certificates and warrants in Germany and Austria on May 11 through its Frankfurt subsidiary, and XTB introduced call and put options on 100 US stocks in Germany, Spain and Cyprus during the first quarter of 2026. 

Mitrade's announcement centers on localizing its existing CFD service and does not add an exchange-traded product line. The expansion coincides with a regulatory review by the Cyprus Securities and Exchange Commission (CySEC) under Circular C758, which will examine staff pay, inducements, digital-platform product steering and conflicts of interest. The review may include on-site visits or desk-based checks at selected Cyprus investment firms and does not identify Mitrade as a target. The broker's required risk warning states that 80% of its retail investor accounts lose money when trading CFDs.