Exclusive: Tiago Da Costa Cardoso Returns to INFINOX as Commercial Director

Why It Matters

Cardoso’s industry experience and the new UAE license give INFINOX a competitive edge in a fast‑growing FX/CFD market, accelerating its regional expansion plans.

Key Takeaways

• Tiago returns as Commercial Director.
• INFINOX recently obtained UAE CMA license.
• Focus on commercial structure, scaling, regional expansion.
• Cardoso brings experience from Exinity, HFM, XTB.
• Expansion targets new markets in Middle East.

Pulse Analysis

Tiago da Costa Cardoso’s return to INFINOX arrives at a pivotal moment for the broker. Having spent eight years at XTB and senior business‑development roles at Exinity and HFM, Cardoso brings a deep network of institutional partners and a proven track record of scaling trading platforms. His expertise aligns with INFINOX’s ambition to transition from a regional player to a global contender, especially as the firm leverages its newly granted UAE Capital Market Authority license to tap into the Gulf’s burgeoning retail and institutional demand for FX and CFD products.

The UAE license marks a regulatory milestone, granting INFINOX direct access to one of the world’s most dynamic financial hubs. Dubai’s strategic location, tax advantages, and growing investor base create a fertile environment for fintech expansion. With Cardoso at the helm of commercial operations, INFINOX can now formalize its partner onboarding, streamline onboarding processes, and accelerate product rollout across the Middle East and North Africa. This regulatory endorsement also enhances the broker’s credibility, making it more attractive to liquidity providers and institutional clients seeking compliant, well‑governed counterparties.

Industry observers view this development as a bellwether for the broader FX/CFD sector, where competition intensifies around licensing, technology, and market reach. INFINOX’s aggressive hiring and licensing strategy signals a shift toward consolidation, as firms aim to capture market share in high‑growth regions before rivals solidify their footholds. Cardoso’s commercial leadership is likely to drive innovative partnership models, localized product offerings, and aggressive marketing campaigns, potentially reshaping the competitive landscape and setting new standards for service quality and regulatory compliance in the online trading arena.

Exclusive: Tiago da Costa Cardoso returns to INFINOX as Commercial Director

By Gerald Segal · February 17, 2026

FNG Exclusive… FNG has learned that experienced FX and CFDs industry executive Tiago da Costa Cardoso has rejoined INFINOX, as Commercial Director.

Based in Dubai, Tiago joins INFINOX soon after the broker received a UAE Capital Market Authority license. Tiago previously worked at INFINOX from 2019‑2023, serving as Head of Business Development and Partners. He has since worked at Exinity and at HFM, in senior BizDev roles. Tiago also spent eight years (2011‑2019) at Poland‑based online broker XTB.

Tiago posted the following note on social media regarding his return to INFINOX:

Here we go! ⚡

Excited to officially announce that I’m back at INFINOX Global, this time as Commercial Director.

Infinox is stepping into a new phase of growth — with clear ambition, strategy, and direction.

I’ll be working closely with our global teams and partners to strengthen our commercial structure, scale processes, and accelerate expansion into new regions.

There’s serious momentum building behind the scenes.

If you’re ready to build at a higher level — let’s talk. My inbox is open.

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About the author

Gerald Segal

Gerald is one of the most experienced writers covering the online trading sector. Prior to starting FNG, Gerald founded Forex industry news website LeapRate.com in 2010, selling it in 2018 to publicly traded Catena Media plc (STO:CTM). An avid skier, cyclist and ice‑hockey player, Gerald was previously an investment banker for more than a decade at Bear Stearns, Robertson Stephens, and Merrill Lynch. Gerald holds an MBA from Columbia University in New York and a BCOM degree from the University of Toronto.