FXOpen UK continues its strategic expansion with the acquisition of Cypriot based broker AMB Prime Ltd. The acquisition is part of the UK-regulated foreign exchange broker’s European growth plans, and the new acquisition will commence operations on August 17, 2020, and operate as FXOpen EU.
FXOpen enhancing its presence in Europe
The development shows FXOpen UK’s commitment to becoming a leading forex broker in the UK and across Europe. The acquisition of AMB prime Ltd, which is an established broker regulated and licensed by the Cyprus Securities and Exchange Commission, enables FXOpen UK to enhance its brand presence across the EU. The current AMB Prime Director Maria Markidou will continue leading the new Cyprus office under FXOpen EU.
Besides the European expansion, the forex broker is investing in its core product suite and trading platforms to enhance its customers’ trading environment. FXOpen’s most recent improvement is the addition of more liquidity providers to its ECN. This enables deeper liquidity and tighter spreads in addition to the reduction of commission charges.
While speaking about the acquisition, FXOpen COO, Gary Thomson, stated that it was an exciting moment for the foreign exchange firm. He added that they are pleased to enhance their presence in Europe alongside their primary target market in The UK. Thomson said that capital injection into the company has enabled it to continue its expansion plans. This means that even if there will be regulatory changes due to BREXIT, the firm will still offer EU clients services.
FXOpen has $2.2 million capital injection in 2019
FXOpen will focus on expanding its offering and growing client base at the institutional and retail levels. In August last year, the firm has a $2.2 million capital injection that has enabled it to roll out various developments.
Maria Markidou indicated that she was honored and delighted to be part of the FXOpen group as well as for the opportunity to lead the EU division. She said that she was looking forward to working for one of the best forex brokers focusing on its clients and tech solutions.