Avora Markets Recruits Former GTCFX CSO; Website’s Link to Mauritius Licensee Unverified

Deepak Stephen, the former Chief Strategy Officer of GTCFX, has joined Avora Markets as Managing Partner and Chief Strategy Officer, according to a November 1 report.

Stephen joined GTCFX in early 2024 as Head of People Operations before becoming Chief Strategy Officer approximately a year ago. He previously spent three years at brokerage technology and liquidity solutions provider B2Broker.

His move follows his departure from GTCFX during a series of senior management changes at the Dubai-based broker.

Mauritius Licence Record Leaves Website Link Unverified

According to an FSC register extract supplied for this report, Avora Markets Global obtained a SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting) licence from the Mauritius Financial Services Commission on March 11, 2026.

The entry does not disclose a website. The licence record alone therefore does not establish that Avora Markets Global operates avoramarkets.com, or that clients using that website enter into agreements with the Mauritius-licensed entity.

Whether the SEC-2.1B licence covers the forex and CFD services offered through the website also requires confirmation of the licensee’s specific conditions and permitted activities. The absence of a website in the register entry does not, by itself, establish that the website is unauthorised.

Saint Lucia Registration Is Separate From Forex Authorisation

BrokersView has separately raised regulatory concerns about Avora Markets Ltd, the Saint Lucia-registered entity associated with the broker. Its published assessment reported locating company registration records but finding no corresponding authorisation in searches of records maintained by the UAE’s Securities and Commodities Authority, Dubai Financial Services Authority and Central Bank of the UAE.

Saint Lucia’s International Financial Centre states that the jurisdiction does not currently regulate or license forex trading; incorporation there therefore does not establish forex authorisation.

Investor Warning

Before opening an account or transferring funds, investors should verify the legal entity named in their client agreement, its current regulatory status and its authority to provide the products offered. They should also seek confirmation that the website and payment recipient belong to that entity.

Until the relationship between avoramarkets.com and the Mauritius licensee, together with the relevant permissions, is established, investors should not assume that accounts opened through the website benefit from Mauritius regulatory oversight or associated investor protections. Forex and CFDs involve substantial risk, and leveraged trading can lead to rapid losses.

For more discussions about broker credentials, regulatory disclosures and trading risks, visit BrokersView Q&A.