Capital.com Secures Singapore Licence, Appoints Tony Lim as Local CEO

Capital.com has received a licence from the Monetary Authority of Singapore and appointed Tony Lim as its local Chief Executive, according to regulatory records. The Singapore unit can offer securities, collective investment schemes and over-the-counter derivatives, including contracts for differences (CFDs).

Lim previously headed the Singapore division of London-listed IG Group for nine years. He left IG in early 2024, around the same time Breon Corcoran joined as the group's current CEO.

The licence adds Singapore to Capital.com's recent regulatory expansion. The broker has also become regulated in South Africa and has said it is exploring new licences in several markets, including Japan and Turkey. It is hiring local CEOs in Brazil and Chile, signalling expansion into those countries.

In Europe, Capital.com's EU unit agreed to acquire FxPro's EU client book. The broker has also launched physical share trading in Europe, with plans to expand the service to the UAE and the UK. Based on the Singapore licence permissions, the broker is likely to follow a similar strategy in the city-state, though the company did not respond to a request for comment on its Singapore strategy.

Singapore, despite its small geographic size, attracts major CFD brokers including IG, CMC Markets, Saxo and now Capital.com.