Foreign media Finance Magnates has obtained firsthand information that IronFX founder Markos Kashiouris appears to be further expanding his influence in the retail trading industry by launching the prop trading platform Ultimate Traders.
IronFX Founder Holds Majority Stake
This prop trading platform is operated by UK-registered company Ultimate Traders Evaluation Ltd, established in February 2023, with Kashiouris as the primary shareholder. According to UK Companies House records, Kashiouris holds over 75% ownership of the prop trading platform.
IronFX is a forex CFD broker operated by Notesco Financial Services Ltd, a Cyprus-registered company founded by Kashiouris. The broker brand also operates in the UK through a local entity regulated by the Financial Conduct Authority (FCA). Additionally, it operates globally through an entity registered in the offshore jurisdiction of Bermuda.
Interestingly, the sole director of Ultimate Traders is Andreas Pogiatzis, a Cyprus resident, further tightening the broker's ties with the Mediterranean island's extensive retail trading industry.
Finance Magnates reached out to IronFX and Kashiouris for confirmation but had not received a response at the time of publication.
However, IronFX's customer service told Finance Magnates that the broker currently doesn't have a prop trading product, but it's "in development and will be announced on the website once completed."
Brokers Find Prop Trading Highly Profitable
Meanwhile, many forex CFD brokers, both large and small, have entered the prop trading industry in recent months. This trend was led by established brokers like OANDA, but now brokers such as IC Markets, ThinkMarkets, Trade.com, Hantec Markets, and Blueberry Markets have also launched their own prop trading brands.
However, FTMO took the opposite route, starting as a prop firm and only recently expanding to develop brokerage operations.
Currently, the prop trading industry remains unregulated, allowing anyone to quickly enter the industry through simplified technology and trading platforms. However, several regulatory bodies are now beginning to pay attention to this rapidly growing prop trading industry.
Reference：Exclusive: IronFX Founder Quietly Joined Prop Trading Craze with “Ultimate”
