GMG Markets appoints Sadek Baksh as CEO

Financial Conduct Authority (FCA) regulated Retail FX broker GMG Markets has hired Sadek Baksh as the company's new Chief Executive Officer.

As seen on his LinkedIn profile, Baksh was Vice President of Institutional eFX at CFH Clearing Limited from 2015 to 2017, where he had worked there for almost 3 years. Prior to that, he served as VP of Institutional eFX at CapMar Financial, an industry leading brokerage firm in the FX market. From 2007 to 2011, Baksh worked as a Sales Manager at CMC Markets, the leading spread bet, CFD and FX provider.

GMG Markets was acquired in 2017 by Chinese entrepreneur Shi Lu, but has been mostly inactive since then. The company hired experienced FX industry executive Alex Iakobachvili (now CEO of Price Markets) in 2018, but he departed after one year. It appears as though Mr. Lu has now turned to Sadek Baksh to revive the company's fortunes.

GMG is regulated in the UK by the FCA as a full-scope investment firm. The company is regulated to hold client money and is a matched principal agency for the trading of FX and and Contract for Differences (CFDs) to its retail and institutional clients. The company offsets all of Its FX and CFD trades with liquidity providers and the main source of revenue is derived through the bid/ask spread and trading commission.