ABK Holding Reported to Acquire Forex and CFDs Broker CrescoFX

ABK Holding JSC (formerly known as Ozyavuzgil Group), which holds several regulated and licensed Brokerage companies​ in different locations globally, is reported to acquire forex and CFDs broker Cresco Capital Markets (UK) Ltd, operating with the tradename CrescoFX​.

The acquisition deal has reportedly entered into a conditional agreement by ARK co-founders, Murat Kutay Yildirim and Gokalp Icer, and is now subject to approval from the UK's Financial Conduct Authority (FCA). Financial terms of the agreement were not disclosed.

Regulated by the Malta Financial Services Authority (MFSA), CrescoFX is a boutique broker​ offering both retail and institutional traders with trading of currencies, indices, CFDs and commodities via MetaTrader 4, MT4 Mobile, Integral and Currenex trading platforms. Founded in 2011, CrescoFX acts as a hybrid broker — both a-book and b-book broker (market maker) — in terms of orders execution model.

Established in the year 1977, ABK Holding operates in multiple industries, including FinTech, Insurance, Brokerage, HR&Consultancy and Technology. Its entities offer first-class, reliable service to retail, professional and institutional clients, providing them with access to over 500 products including Forex, CFDs, Commodities, Equities and Indices through Metatrader 4 and Metatrader 5.