After ETX Capital announced the purchase of Alpari UK's client base from special administrator KPMG, Forex Magnates' reporters reached out to the CEO of the firm in order to acquire more details about the deal.
Speaking to Forex Magnates' reporters after the announcement about the Acquisition of the client data of Alpari UK, the CEO of ETX Capital, Andrew Edwards, weighed in on the firm's experience from previous acquisitions. He also shared information about the number of monthly active accounts of the future acquisition plans of the firm after a record breaking 2014.
ETX Capital closed a similar deal with Shelbourne markets in June last year, did the success from that acquisition put you in a position to consider the customer base of Alpari UK?
The acquisition of the customer base of Shelbourne Markets has been structured in a very similar way which was a part upfront and majority on success. That has proven to lead to positive results for both Shelbourne and ETX Capital. When we submitted the proposal to KPMG, we did use our Shelbourne deal as a template for our offer to acquire Alpari UK’s client base.
We were very upfront with the special administrator in communicating that there won’t be a significant initial payment, but we could get a better response from KPMG on success. I think the Shelbourne deal helped and gave us a level of confidence about how much we could pay for this acquisition.
You mentioned in the announcement that ETX Capital is going to expand its international customer base, is the majority of Alpari UK’s client base outside of the UK?
Alpari has a very similar mix of customers to ETX. Both brokers have been expanding internationally for the past five years. Currently, only 40% of our revenue is coming from the U.K. these days and the same can be said for Alpari. We are familiar with servicing multiple languages and multiple websites.
What is the mix of international clients which you have acquired?
Alpari UK had a bigger presence in the Middle East than we have, which is positive for us. We both have presence in the Far East and Western Europe, but Alpari had a bigger German business than ETX Capital. We’re quite excited about what we can achieve in both Germany and the Middle East.
What has been the number of active accounts at Alpari UK?
There are roughly about 150,000 accounts of which about 80,000 had balances and Alpari had roughly 1,500 active accounts per month. We’re going to be targeting that whole customer list and we have different assumptions about what conversion rate from different segments of that base.
Are you looking for more acquisitions at this point in time?
Absolutely, we’re talking to a couple of smaller brokers who are struggling. That isn’t necessarily a result of the Swiss franc debacle. There are a number of companies which are struggling to continue supporting their business models. As I mentioned, we’re talking to a couple about acquiring their customer base and if we do a good job with Alpari we could be seen as the go to company for brokers who’d like to capitalize on the brand they created.
How has your 2014 been?
Our numbers are currently being audited, but we have had a very profitable, record 2014. We will be publishing our accounts later this year.
Speaking to Forex Magnates' reporters after the announcement about the Acquisition of the client data of Alpari UK, the CEO of ETX Capital, Andrew Edwards, weighed in on the firm's experience from previous acquisitions. He also shared information about the number of monthly active accounts of the future acquisition plans of the firm after a record breaking 2014.
ETX Capital closed a similar deal with Shelbourne markets in June last year, did the success from that acquisition put you in a position to consider the customer base of Alpari UK?
The acquisition of the customer base of Shelbourne Markets has been structured in a very similar way which was a part upfront and majority on success. That has proven to lead to positive results for both Shelbourne and ETX Capital. When we submitted the proposal to KPMG, we did use our Shelbourne deal as a template for our offer to acquire Alpari UK’s client base.
We were very upfront with the special administrator in communicating that there won’t be a significant initial payment, but we could get a better response from KPMG on success. I think the Shelbourne deal helped and gave us a level of confidence about how much we could pay for this acquisition.
You mentioned in the announcement that ETX Capital is going to expand its international customer base, is the majority of Alpari UK’s client base outside of the UK?
Alpari has a very similar mix of customers to ETX. Both brokers have been expanding internationally for the past five years. Currently, only 40% of our revenue is coming from the U.K. these days and the same can be said for Alpari. We are familiar with servicing multiple languages and multiple websites.
What is the mix of international clients which you have acquired?
Alpari UK had a bigger presence in the Middle East than we have, which is positive for us. We both have presence in the Far East and Western Europe, but Alpari had a bigger German business than ETX Capital. We’re quite excited about what we can achieve in both Germany and the Middle East.
What has been the number of active accounts at Alpari UK?
There are roughly about 150,000 accounts of which about 80,000 had balances and Alpari had roughly 1,500 active accounts per month. We’re going to be targeting that whole customer list and we have different assumptions about what conversion rate from different segments of that base.
Are you looking for more acquisitions at this point in time?
Absolutely, we’re talking to a couple of smaller brokers who are struggling. That isn’t necessarily a result of the Swiss franc debacle. There are a number of companies which are struggling to continue supporting their business models. As I mentioned, we’re talking to a couple about acquiring their customer base and if we do a good job with Alpari we could be seen as the go to company for brokers who’d like to capitalize on the brand they created.
How has your 2014 been?
Our numbers are currently being audited, but we have had a very profitable, record 2014. We will be publishing our accounts later this year.
Interactive Brokers Expands Offerings with Daily Options on French Stocks
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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