Iain Rogers steps down as Executive Director of GKFX
Iain Rogers is now free to embrace a new project after two years leading GKFX. Prior to that, Mr. Rogers held top roles in a number of leading firms within the industry including Pepperstone and Admiral Markets.
Iain Rogers has stepped down as Executive Director at GKFX the same day the Turkish media reported that six former GKFX executives were arrested in connection to an alleged $29 million fraud.
The police raid followed a complaint made by the GKG Group, GKFX’s parent company. The embezzled funds, $29 million, belonged to the company, but the firm has already stated it did not impact the brokerage business.
The six executives left GKFX in Q1 2020 and launched their own brokerage, NYFX, funded with the stolen money and established a number of partnerships with firms within the trading industry.
Iain Rogers is now free to embrace a new project after two years leading GKFX. Mr. Rogers had joined the FX broker from GMI UK, where he was Chief Operating Officer during a brief stint.
From 2017 through 2019, he held top roles at Pepperstone: Executive Director at Pepperstone Limited (UK) and Managing Director at Pepperstone GmbH (Germany).
Prior to that, Mr. Rogers was Chief Executive Officer at Admiral Markets UK Ltd after serving as a compliance specialist for nearly two years at the firm.
Other roles throughout his career within the trading industry include Senior Sales Trader at Enigma Securities, Senior Market Maker at Matrix Investment Banking Division, Senior Equity Execution and Compliance Consultant at Schneider Trading Associates Limited, Executive Director at Lite Financial Limited, Market Maker at HSBC Investment Bank, and Market Maker at SG Warburg Securities, where he started his career in 1990.
In 2019, GKFX UK refocused to target wholesale clients after an internal review. Global Kapital Group, GKFX’s parent company, decided to migrate the retail operation to AKFX, a Malta-based affiliate regulated by MFSA.
The UK company not only let go of its retail business but also rebranded from GKFX UK to GKPRO that year as the new mission statement was to serve institutions and professional customers. The new institutional focus came amid ESMA’s new rules on CFD products for retail traders, including lower leverage.