Capital.com Acquires FxPro’s European Client Book
Capital.com has agreed to acquire the European client book of FxPro, adding to the ongoing consolidation in the retail FX and CFDs industry. The deal comes after last week’s sale of FXCM UK to Trade Nation and AvaTrade’s acquisition of the remaining retail brokerage business of FXCM.
More on Acquisition
FxPro Financial Services Ltd, a Cyprus Investment Firm (CIF), will transfer its clients to Capital Com Group Ltd, Capital.com’s European entity. Capital Com Group Ltd is also a CIF authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). Capital.com said the acquisition shows its commitment to making its platform available to more clients in Europe. The company also stressed its priority on clear communication, careful oversight, and maintaining long-term client relationships throughout the transition.
CySEC Approves the Transfer
The transfer comes after CySEC’s approval of the related change of control and client eligibility. Not all FxPro clients, however, will automatically move to Capital.com. Only clients who meet Capital.com’s onboarding and risk standards will transfer. Capital Com Group Ltd will assess each eligible client under its own client categorisation, appropriateness, target market and know-your-customer (KYC) requirements.
The transfer will toughen Capital.com’s presence in Europe. The company has served European clients from Cyprus since 2017 and will manage the transition under the same regulatory and client-protection framework that applies to its current European clients.
About Capital.com
Billionaire Viktor Prokopenya founded Capital.com in 2017. It is a global online trading platform. It offers users access to over 3,000 markets, including stocks, indices, cryptocurrencies, currency pairs, and commodities. The company has expanded its services across Europe, Australia, and other regions.
About FXPro
FXPro is a prominent global online trading broker. It specializes in forex and CFDs (Contracts for Difference). FXPro was founded in 2006 and is headquartered in London. The company operates in over 170 countries and has a client base of more than 2,188,000 client accounts. It enables trading in forex pairs, stock indices, individual stocks, Energy Commodities, Metals, and Cryptocurrency CFDs.
Wrapping Up
Capital.com’s FxPro’s European client book acqusition is another development in the lasting consolidation of the retail FX and CFDs sector. The transfer will bring eligible clients under Capital Com Group Ltd, subject to its onboarding and risk requirements.
Register your company now and get featured on our homepage!