TradeInformer understands that the CEO of the UK entity of brokerage group Vantage is set to depart from the firm. David Shayer has been with the brokerage firm since 2019.
Alongside that, the broker’s Head of Compliance for the UK is also departing. Mansoor Mushtaq joined the broker from EC Markets just over 12 months ago.
He has also had stints at a number of other UK-based CFD brokers, including ETX Capital and Admirals.
Earlier this week, Vantage sent an email to clients saying that it would no longer be offering PAMM services to customers in the UK.
Those services will stop being offered next month.
The company is allegedly being pressured to stop accepting clients offshore, primarily via an entity in Vanuatu.
However, at the time of writing, UK customers could still onboard with and access services from the Vantage Markets entity in Vanuatu.
Vantage has been a major promoter of IB-style marketing in the UK.
For example, in the last couple of months, political activist Tommy Robinson shared a signals service that encouraged clients to sign up with the broker’s entity in Vanuatu.
In the recently released Louis Theroux documentary on the so-called ‘manosphere’, it also seems as though Theroux signs up with Vantage, with one of the influencers in the documentary doing marketing for the firm.
