FNG Exclusive… FNG has learned that a number of senior executives have continue to depart Cyprus based Retail FX and CFDs broker M4Markets.

The latest departures include Rasha Gad (pictured at top), who had served as M4Markets’ UAE CEO in Dubai. Rasha was also the Dubai authorized individual for M4Markets and listed as Director on their DFSA License. Rasha had previously worked for Royal Financials, London Capital Group (LCG), ACFX and IronFX.

Also leaving M4Markets is the broker’s Chief Dealing Officer Tassos Skordis. We have learned that Tassos has recently joined rival broker Eurotrader in Cyprus, as Head of Liquidity and Trading Platforms. Tassos had been with M4Markets since 2020, and previously worked at FxPro and at IronFX.

FNG had also exclusively reported over the past few months that M4Markets’ Global Head of Business Development Alexandra Dinu, and Chief Business Development Officer Nick Jay, had both left M4Markets. M4Markets’ marketing heads Marilena Iakovou and Mariliza Karrera recently left for Doo Group. Another M4Markets executive, Vong Andreou, also recently joined Doo Group in a business development role.

M4Markets began life in 2020 as an offshore (Seychelles) FX/CFDs brand, but late last year acquired CySEC licensed company ICC Intercertus Capital Ltd (and its CIF license), which it has since renamed Harindale Ltd. ICC used to operate the Axiance brand, and before that EverFX. M4Markets was established by Deepak Jassal, formerly an investment banker with HSBC, KPMG and UBS, and by Theofanis Nakos, a fixed income sales specialist.