Former Varengold exec quits Head of Trading position at GBE Brokers – Exclusive

After four years at GBE Brokers, Markus Joern has left his position as Chief Dealer. He arrived in Malta from Varengold Bank in Gemany, along with several former Varengold executives that were recruited by GBE Brokers during its inaugural years.

FinanceFeeds has today learned that Markus Joern, Head of Trading at CySec regulated, German-based retail FX brokerage GBE Brokers (also known as Sensus Capital Markets) has left the company.

Mr. Joern joined Sensus Capital Markets in November 2012 from Varengold Bank, where he held the prestigious position of Head of Capital Markets Brokerage at the German bank.


At that time, Sensus Capital Markets/GBE Brokers hired a number of former Varengold Bank staff, and Mr. Joern moved from Hamburg, in his native Germany, where he was based during his 6 year tenure at Varengold Bank, where he progressed from his initial position as a trainee in 2006 into Asset Management, before becoming Trading Team Leader in 2008.

Mr. Joern’s career at Varengold then made its way into executive territory, as he became Head of Trading, and then Head of Capital Markets before leaving the company and relocating to Malta in 2012 to join Sensus Capital Markets/GBE Brokers.

In April last year, German regulator BaFIN conducted an inspection of Sensus Capital Markets offices in Hamburg, and the Maltese regulator, MFSA, made an inspection of the firm’s Maltese operations following the dismissal by the company of one its shareholders, Martin Huff, who had also had an executive position within the firm as Head of Trading, a matter that was reported in detail in several news sources at the time.

The officials completed a two day inspection and then left the premises in the respective firms, however Mr. Huff’s alleged responsibility for the demise of Swiss brokerage City Trade had prompted the probe.

At the time, Mr. Huff’s affairs were widely reported in Swiss media, which attracted the attention of the authorities. It transpired that the company’s value had been inflated and shareholders lost a fortune following its bankruptcy, resulting in a myriad of legal disputes aimed at Mr. Huff.

Today, a spokesman for GBE Brokers in Germany explained to FinanceFeeds that Mr. Joern’s departure took place last week and that he will be replaced by a new Chief Dealer and Head of Trading, Danny Stadermann in due course.


Read this next


Ouinex taps Netdania to build institutional-grade crypto trading platform

Ouinex intends to always bring the best of TradFi electronic trading infrastructure to Web3 including innovative universal cross-margining capabilities so that users can trade TradeFi instruments by using their crypto holdings as margin.

Retail FX

BDSwiss Elevates Traders’ Experience with Advanced Trading Tools

In the fast-paced world of financial markets, having access to advanced trading tools and educational resources is crucial for traders aiming to stay ahead of the curve.

Market News

Gold & Silver rally, made in China

Gold prices correlate with the US bond market, and the US Dollar influences the Gold/Silver ratio. Chinese market premiums for Gold and Silver suggest continued uptrends. Inflation-adjusted peaks indicate current prices are not overly expensive, implying potential for further gains.

Market News

Japan’s Monetary Policy and FX Intervention: Key Takeaways from the G20 Meeting

At the G20, BoJ President Kanda and Finance Minister Suzuki emphasized stable exchange rates and cautious FX intervention, signaling imminent action. Softer US inflation data and potential BoJ rate hikes are impacting USD/JPY


Top 3 Cryptos of 2024: BlockDAG’s $1 Prediction, Immutable’s Remarkable Price Increase, and Solana’s Promising Future

Explore pivotal changes in the cryptocurrency market through our analysis of Solana, Immutable, and BlockDAG. Explore how BlockDAG raised $34.7M in its presale with advanced technologies.


UK bank Kroo bans crypto transactions, warns account closure

London-based digital bank Kroo has imposed a ban on cryptocurrency transactions, another blow for crypto traders ‎who recently saw a sizable number of banks deciding not to ‎finance the wobbly asset class.‎


MoonPay onboards Gucci, Puma, and Mastercard to Web3 Tools

Blockchain payments infrastructure firm MoonPay has unveiled a new platform to simplify the Web3 experience for brands and consumers. The platform, dubbed Web3 Tools, helps brands provide a less complex Web3 journey.


BlockDAG’s Keynote Video Drives $34.7M in Presales, Gaining Traction Among Solana (SOL) Investors and Litecoin Enthusiasts

Discover BlockDAG’s leadership in cryptocurrency, attracting Solana (SOL) investors and Litecoin enthusiasts with its strong growth prospects and groundbreaking mining technology. 

Digital Assets

Mt. Gox users alarmed by $10 billion transfer to unknown wallet

Mt. Gox has transferred 42,830 BTC, worth about $2.9 billion, from its cold wallets, according to Arkham Intelligence data. This marks the first major transfer from the defunct bitcoin exchange in five years.