CMC Markets Partners with Upvest to Expand European Securities Business

CMC Markets has entered a partnership with Berlin-based infrastructure provider Upvest to launch a securities offering in Europe, aiming to reduce its reliance on leveraged trading revenue. The new service will include stocks, ETFs, and mutual funds in GBP, EUR, and USD, starting in Germany later this year.

The move marks a strategic expansion for CMC's European operations, which have historically focused on CFDs and execution-only brokerage through its BaFin-regulated Frankfurt subsidiary. The company reported £248.9 million in trading revenue in its latest annual figures, while its investing division grew 31% year-on-year to £44.4 million.

By outsourcing execution, custody, and settlement to Upvest, CMC avoids the cost and complexity of building its own securities infrastructure across multiple EU jurisdictions. Upvest holds BaFin brokerage and custody licenses and processes over 100 million orders annually for clients including Revolut and N26.

The German launch is seen as a first step in CMC's broader European strategy. The company recently appointed Christine Romar as Head of Europe, leveraging her experience in Frankfurt's structured products market. If successful, the model could be extended to Austria, Spain, and Poland.

Analysts note the partnership reflects a trend of brokers separating customer-facing platforms from regulated backend infrastructure. For CMC, the deal accelerates its push into long-term investment products, while Upvest gains a major financial brand as a client.