Darwinex Expands Worldwide Footprint with New License from Spain's CNMV

Fazzaco learned that social trading focused Retail FX and CFDs broker Darwinex, previously known as Tradeslide, has obtained a license from the Comisión Nacional de Mercado de Valores (CNMV) in Spain.

Launched in 2012, Darwinex operates as a multi-asset broker and asset manager, empowering traders and investors with cost-effective market connectivity and asset management technology. With the new license, Darwinex can provide trading services to retail customers in Spain and in the rest of the countries of the European Economic Area.

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Juan Colón, Darwinex CEO and co-founder said:"It has been a pleasure to collaborate with the CNMV regulator to adapt our business model, compliance processes, operations and finance to the Spanish regulation. This step closes our post-Brexit roadmap. We can now focus on improving our offering and on accelerating our growth."

In July 2021, Darwinex closed the financing of €3 million, for the purpose of supporting its growth vision. Stefan Jaecklin and Pinorena Capital participated in the funding round, alongside Darwinex's co-founders and a number of major employees. So far, the company raised a total of €9 million in funding.

The broker recorded a slump in its profits from 470,000 euros in 2020 to 225,000 euros in 2021. Revenues stood at €5.3 million (USD $5.9 million) for 2021, up 12% compared to 2020's €4.7 million.