Please go and get some real advice on your company setup (FCA could help) because what you are doing right now will get you in a lot of trouble sooner or later.
he already is in big trouble and once again it also exposes Ironfx/Notesco malpractices, certainly the main issue here
https://www.gov.uk/registration-with-the-financial-conduct-authority
Fines and penalties
You can be imprisoned and fined if you carry out regulated activities without being authorised.