FXOpen UK Acquires AMB Prime Ltd
FXOpen UK, a foreign exchange (forex) broker, has revealed that it has acquired AMB Prime Ltd, a Cyprus based broker.
AMB Prime Ltd’s new name will now be FXOpen EU. It will start offering its services under this name on the 17th of August 2020.
AMB Prime Ltd is a full-scope broker, authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). Maria Markidou, the Director of AMB Prime Ltd, will lead the new office in Cyprus.
According to a statement, FXOpen UK, the Financial Conduct Authority (FCA) regulates, has acquired the broker. This is part of its expansion in Europe, allowing the company to strengthen its brand presence within the region.
Gary Thomson, Chief Operating Officer of FXOpen UK, said it’s an exciting time for them. They feel delight in being able to expand their presence in Europe, which, alongside the UK, is their key target market.
An injection of capital into the business has enabled them to continue their expansion plans. Meaning, regardless of any potential regulatory changes, they can ensure a seamless continuity of their service to their current European clients. This is while continuing to expand their offering and growing their client base, both retail and institutional.
Continued Service Developments
Furthermore, FXOpen UK is also investing into its trading platforms and core product suite. It has recently added further liquidity providers into its ECN.
This follows on from the capital injection of £2.2 million in August 2019. This has allowed the firm to roll out several new developments.
Maria Markidou said she is delighted and honoured by the opportunity to be a part of the FXOpen team. This also applies to being the head of the European division.
She looks forward to working for a global forex broker that is focused on its clients, services and technology solutions. She is confident that they can build on these grounds. Hopefully, through investment, they can enhance the brand in Europe along with their clients’ experience.
