FNG Exclusive… FNG has learned that Retail FX and CFDs broker GMI has relinquished the FCA license of its UK arm, Global Market Index Limited. The company’s UK CEO, Zaid Alkhatib, has left the group, after running GMI UK for the past four years.

The following note now appears on the GMI UK website (at gmimarkets.co.uk):

Important Notice

Global Market Index Limited (a company registered in England and Wales, company number 07736428) has ceased all regulated activities. The Financial Conduct Authority (FCA) approved the cancellation of the Company’s permissions on 05 February 2026.

The Company is in the final stages of an orderly wind-down and is not conducting any regulated business or onboarding clients.

For any residual or administrative queries, please contact info@gmimarkets.co.uk

The moves come as GMI is shutting down its entire retail brokerage operation worldwide. GMI’s founder and controlling shareholder (and longtime CEO), Ashraf Ebid, has moved on full time to run broker technology provider Finstek. (GMI had been operating using Finstek technology for many years.) The final decision to shut down GMI came when Ashraf’s partner and minority shareholder, Chehui (Jeff) Chao, decided to retire.

GMI is also shutting its offshore brokerage business, licensed in Mauritius, which has historically focused on clients in the Far East and MENA regions. While we understand from a company spokesperson that the offshore business was stopped and all client accounts closed on December 31, 2025, that entity’s website (at gmimarkets.com) still appears to be live and active.