ACG Markets, the newly launched brokerage arm of Alpha Capital Group, has appointed David Rapp as Chief Executive Officer. The appointment was announced in June 2026 as the firm extends beyond proprietary trading into regulated brokerage services in the United Kingdom.
Rapp brings more than a decade of senior leadership in the retail trading industry, with a particular focus on launching and running brokers regulated by the Financial Conduct Authority. Most recently he ran his own consultancy advising firms across foreign exchange, contracts for difference and payments.
Earlier in his career he served as chief executive of the United Kingdom entities of IC Markets, BDSwiss, Eightcap and Formax Prime Capital, and he spent several years at Saxo Bank in sales and relationship management roles, including responsibility for high net worth and corporate clients.
The appointment marks a significant step for Alpha Capital Group, which built its name in the proprietary trading space and is now moving into the more heavily regulated world of client facing brokerage. Launching a broker requires a different operating discipline, from client money protections to conduct and reporting obligations, and the group has recruited a leader whose track record is built precisely on standing up regulated entities.
For the wider retail trading sector, the move reflects a pattern of proprietary trading firms broadening into brokerage as they look to diversify revenue and deepen their relationships with active traders. The two businesses share a customer base but operate under very different rules, and success depends on getting the regulatory foundation right from the outset.
Rapp early priorities are likely to include building the operational and compliance backbone of the new broker, securing the necessary permissions, and shaping a product proposition that can compete in a crowded United Kingdom market. His experience across multiple regulated brokers positions him to move quickly through the early stages of the launch.
The choice of a chief executive with a long record in the sector signals that Alpha Capital Group intends to treat the brokerage as a serious, standalone business rather than a bolt on to its proprietary operation. It also gives the new unit immediate credibility with partners and regulators as it establishes itself.
The group did not announce further leadership changes in connection with the appointment. It said the brokerage forms part of a broader ecosystem that spans proprietary trading, education and now client brokerage, and that the new chief executive will lead the unit as it builds out its offering.
