FxPro Sells EU Client Book to Capital.com

FxPro has agreed to sell its client book under its Cyprus entity to Capital.com, according to an exclusive report. The deal, described by FxPro as a strategic optimisation, will see the Cyprus Investment Firm (CIF) licence client base transfer to Capital.com.

Peter Aust, Chief Operating Officer of FxPro, said the move is "a strategic step to further align [the broker’s] operations with our long-term growth ambitions" and stressed that the Cyprus business is "not a significant part of the Group." He added that the sale would not affect FxPro's broader operations, noting that "the vast majority of our growth in recent years has come from outside of Europe" and that international markets have become the primary drivers of the business.

FxPro retains FCA licence and London headquarters

FxPro received its CIF licence in 2007 and expanded across the European bloc under it. The broker also holds licences from regulators in the United Kingdom, the Bahamas and the Seychelles. Aust emphasised that the FxPro Group remains fully independent and that the company is "simply letting go of a small and specific part of our business." He explained that the group has been aligning its corporate structure with its business evolution, streamlining areas that no longer reflect its growth profile to invest more decisively in other markets. He described the move as "strategic optimisation, not a retreat."

FxPro is retaining its FCA licence and its headquarters in the City of London, which Aust said reflects its "long-term commitment to one of the world's most established and respected financial centres."

Capital.com, owned by billionaire Viktor Prokopenya, has been expanding its presence. In 2023, it acquired the retail and professional client book of OvalX, formerly ETX Markets, after that broker decided to close. It has recently become regulated in South Africa and has applied for licences in Japan and Turkey. The broker has also hired local CEOs in Brazil and Chile and appears to be establishing local presences in Bahrain and Azerbaijan. Job postings suggest it is seeking a licence in Singapore. Capital.com runs its European operations from Cyprus and has added physical stock trading for European traders, with plans to expand to the UK and UAE.

The sale of FxPro’s European client book follows other recent deals in the sector, including Trade Nation’s agreement to acquire the UK client book of FXCM and AvaTrade’s purchase of most of its other businesses.