Hedge Fund from New Zealand Joins Prop Trading Frenzy with ‘Ultimate’

IronFX founder Markos Kashiouris is expanding his operations by offering a prop trading platform in the form of Ultimate Traders. This UK-registered company, Ultimate Traders Evaluation Ltd, was incorporated in February 2023, and Kashiouris holds a significant stake, with over 75% ownership.

Proprietary trading also referred to as prop trading allows a trader to directly invest their firm’s capital in trading in the financial markets and earn a proportional profit. This trend has however started late being popularized by some brokers who joined the market recently. Though, it is here that OANDA and Axi reigned supreme, but in the new entrant with Kashiouris new setup as well as IC Markets and Traders Trust.

Admittedly, what is even more striking is the fact that Kashiouris is not even managing the operation on his own. Andreas Pogiatzis is the only director of the enterprise and a resident of Cyprus. The move brings Ultimate Traders closer to Cyprus’ vibrant retail trading industry, which plays a crucial role in the forex and CFD markets, reported by Finance Magnates

Nonetheless, prop trading did not find its immediate implementation in IronFX and even then, Kashiouris has not yet disclosed more information regarding its possible future implementations at the company. The unregulated prop trading market is continuing to expand, and as more brokers seek to tap into it, Ultimate Traders is ideally located to do the same.

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