Exclusive: Brian Myers Resigns as CEO of GKFX
- The company’s CFO will take over the leadership role from Myers
The CEO of GKFX, Brian Myers, has resigned from his position, the company confirmed to Finance Magnates on Tuesday. The company’s CFO Rod Martenstyn will assume the position of Chief Executive Officer pending regulatory approval from the FCA with immediate effect.
Commenting on the latest change at the firm, the Chairman of GKFX, Nick Beecroft, said: “we wish Brian well in his next role and thank him for his great work at GKFX FS.’’
Brian Myers added: “whilst I look forward to my next role immensely, I’d like to thank GKFX’s global workforce and wish them well for the future.’’
An industry veteran
Brian Myers is a veteran of the trading industry. His career started at SVS Securities in 2006. In January 2009 he joined FXCM as Premium Clients Manager, a role that quickly resulted in a senior position at one of the biggest brokers in the UK at the time only a year and a half later. He joined Alpari UK in September 2010 as Global Head of Sales.
After leaving the London-based brokerage in June 2014, he joined OANDA Europe as a Commercial Director. Back in September 2016, Myers joined the Board of Directors of GKFX and became CEO after the resignation of Serkan Arli in December 2017.
Upcoming regulatory overhaul
The latest change at the helm of GKFX comes as the industry is preparing for a big regulatory overhaul. Starting from sometime later this year (probably June), foreign exchange and CFDs brokers will need to introduce material changes to their offerings as the new European regulatory framework takes hold.
Brokers will need to adhere to new capital requirements if they are operating via a matched principal license and upgrade to a 730,000 euro ($895,000) permit. In addition, operating Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term for retail clients has been reduced to multiple tiers starting from 30:1 for major Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term pairs.
The CEO of GKFX, Brian Myers, has resigned from his position, the company confirmed to Finance Magnates on Tuesday. The company’s CFO Rod Martenstyn will assume the position of Chief Executive Officer pending regulatory approval from the FCA with immediate effect.
Commenting on the latest change at the firm, the Chairman of GKFX, Nick Beecroft, said: “we wish Brian well in his next role and thank him for his great work at GKFX FS.’’
Brian Myers added: “whilst I look forward to my next role immensely, I’d like to thank GKFX’s global workforce and wish them well for the future.’’
An industry veteran
Brian Myers is a veteran of the trading industry. His career started at SVS Securities in 2006. In January 2009 he joined FXCM as Premium Clients Manager, a role that quickly resulted in a senior position at one of the biggest brokers in the UK at the time only a year and a half later. He joined Alpari UK in September 2010 as Global Head of Sales.
After leaving the London-based brokerage in June 2014, he joined OANDA Europe as a Commercial Director. Back in September 2016, Myers joined the Board of Directors of GKFX and became CEO after the resignation of Serkan Arli in December 2017.
Upcoming regulatory overhaul
The latest change at the helm of GKFX comes as the industry is preparing for a big regulatory overhaul. Starting from sometime later this year (probably June), foreign exchange and CFDs brokers will need to introduce material changes to their offerings as the new European regulatory framework takes hold.
Brokers will need to adhere to new capital requirements if they are operating via a matched principal license and upgrade to a 730,000 euro ($895,000) permit. In addition, operating Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term for retail clients has been reduced to multiple tiers starting from 30:1 for major Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term pairs.