After obtaining an FCA license in September last year, the Pepperstone broker had stopped trading services for British clients due to restructuring reasons. However, according to the latest news from Leaprate, the broker has completed the restructuring process by collaborating with Zack Ioannou as Head of UK Compliance.
Before joining Pepperstone Limited (a UK-based subsidiary of Pepperstone), Zack Ioannou was a compliance officer at GCM Prime for 2 years. Before that, he held various management positions at other forex brokers, such as Easy Forex and FxPro.
Apart from Ioannou, Pepperstone Limited has partnered with a new figure to serve as Managing Director. Iain Rogers, former CEO of Admiral Markets UK, is the person believed to occupy this position.
Pepperstone's Journey In England
Pepperstone began exploring the UK market after acquiring Omar Tayeb, an online brokerage branch owned by Mohammed Tayeb, which is planned to launch with the 123FX.com brand. However, because it failed to release, the project was sold to Pepperstone at the end of 2015.
Pepperstone's plans to expand to England first surfaced through Leaprate's interview with the CEO, Owen Kerr. At that time, it was reported that Pepperstone had just received a multi-million dollar investment from one of Australia's leading firms, CHAMP Private Equity.
This Australian broker went one step further after its UK branch, Pepperstone Limited, obtained an FCA license in September 2016. However, trading services for UK clients were frozen at the end of February 2017 because Pepperstone Limited is undergoing a management restructuring.
As part of the process, the broker hired Iain Rogers as the new Managing Director and Zack Ioannou as Head of UK Compliance. The latest signing is reportedly the final stage of Pepperstone Limited's restructuring so that services for UK clients can resume operations soon.
Pepperstone is an ASIC-regulated Australian broker providing trading services on various assets, including forex, oil, gold and CFDs. The legality of Pepperstone brokers is guaranteed through regulation and segregated accounts that hold client funds in the accounts of major Australian banks.
Pepperstone is one of the global brokers that provides raw spreads and is ASIC-regulated. This broker also has ECN trading conditions and guarantees the quality of order execution through liquidity from superior banks.