The decision may be related to the fact that Eightcap has been one of the main providers of gray label services to prop trading companies.

The company will provide trading in oil swaps to retail clients, with the firm led by ex-IG Group executive Andrea Rebusco.

The insurance applies to all clients of AT Global Markets Intl. Ltd. and AT Global Markets LLC.

Fetherston has been appointed General Manager of the new prop trading brand, having spent several years working with props at Eightcap and PropTradeTech.

McCarthy spent over a decade at retail broker CMC Markets and will link up again with Biyi Cheng, who recently joined Moomoo AU as country head.