London used to be the main FX/CFD trading hub in the European Union.
2021 brought about the end of the Brexit transition period, finally confirming the UK's exit from the EU. The changes also affected companies operating in the financial markets, including the retail FX/CFD sector, brokers, and their clients. Market experts wonder which jurisdiction can take over from the city of London as the trading capital in Europe and the most common bets include Cyprus, Malta, Germany, and France, but CEE countries may further benefit due to their low costs of managing a business.
Which European Country Can Gain the Most in the FX/CFD Sector after Brexit
In the latest edition of the Quarterly Intelligence Report, Finance Magnates Intelligence examines which representatives of brokerage firms directly involved in European operations think about the changes that may await the market as the Brexit transition period ends.
According to the survey, industry experts believe Cyprus, which is already the leading and most popular licensing jurisdiction for brokers looking to locate in Continental Europe, stands to gain the most from the changes (35%). Exactly 24% of respondents believe that Malta will take over a large part of the brokerage business, followed by Germany (16%) and France (13%). The last piece of the brokerage pie is expected to be filled by the CEE market, with Poland, among others being mentioned. In contrast to other EU countries, Poland offers an additional category of retail clients with a higher price-to-book ratio.
“I do believe Cyprus and Malta have a lot of potentials; however, it all comes down to the fine balance between protecting client interests and leaving some freedom to the brokers. Whoever does this best, ultimately wins,” Natalia Zakharova, Head of Sales at FXOpen, said.
London’s Dominance Is Diminishing, but Forex Hub City Is Still Hard to Replace
Commenting on the possible end of London’s dominance, Graeme Watkins, CEO at Valutrades Limited, said: “I don't think this is the case at all. London has 200 years of history as a financial center. Having a UK FCA license and offices in London is still a sign of credibility that is valued in many parts of the world, not just Europe. Brokers will indeed move some of their business to Europe, but so far I have not seen anyone closing down their UK entities, and I believe the interest is still to have both the UK and European license.”
London's weakening position in the FX market trading was confirmed, among others, by the triennial report published in August 2020 by the Bank of England. Daily foreign exchange trading volumes in London have shrunk by 16 percent from the prior year to $2.41 trillion in April 2020. The decline in the average daily volume in the city was broad-based and was reported across almost all currency pairs, instrument types, counterparty types, and execution methods.
Regardless of location decisions and regulatory changes, due to the lack of passporting, the coronavirus volatility that fuelled record volumes and broker profits last year should continue into 2021.
To get the full article and the bigger-picture on the post Brexit EU industry, get our latest Quarterly Intelligence Report.
2021 brought about the end of the Brexit transition period, finally confirming the UK's exit from the EU. The changes also affected companies operating in the financial markets, including the retail FX/CFD sector, brokers, and their clients. Market experts wonder which jurisdiction can take over from the city of London as the trading capital in Europe and the most common bets include Cyprus, Malta, Germany, and France, but CEE countries may further benefit due to their low costs of managing a business.
Which European Country Can Gain the Most in the FX/CFD Sector after Brexit
In the latest edition of the Quarterly Intelligence Report, Finance Magnates Intelligence examines which representatives of brokerage firms directly involved in European operations think about the changes that may await the market as the Brexit transition period ends.
According to the survey, industry experts believe Cyprus, which is already the leading and most popular licensing jurisdiction for brokers looking to locate in Continental Europe, stands to gain the most from the changes (35%). Exactly 24% of respondents believe that Malta will take over a large part of the brokerage business, followed by Germany (16%) and France (13%). The last piece of the brokerage pie is expected to be filled by the CEE market, with Poland, among others being mentioned. In contrast to other EU countries, Poland offers an additional category of retail clients with a higher price-to-book ratio.
“I do believe Cyprus and Malta have a lot of potentials; however, it all comes down to the fine balance between protecting client interests and leaving some freedom to the brokers. Whoever does this best, ultimately wins,” Natalia Zakharova, Head of Sales at FXOpen, said.
London’s Dominance Is Diminishing, but Forex Hub City Is Still Hard to Replace
Commenting on the possible end of London’s dominance, Graeme Watkins, CEO at Valutrades Limited, said: “I don't think this is the case at all. London has 200 years of history as a financial center. Having a UK FCA license and offices in London is still a sign of credibility that is valued in many parts of the world, not just Europe. Brokers will indeed move some of their business to Europe, but so far I have not seen anyone closing down their UK entities, and I believe the interest is still to have both the UK and European license.”
London's weakening position in the FX market trading was confirmed, among others, by the triennial report published in August 2020 by the Bank of England. Daily foreign exchange trading volumes in London have shrunk by 16 percent from the prior year to $2.41 trillion in April 2020. The decline in the average daily volume in the city was broad-based and was reported across almost all currency pairs, instrument types, counterparty types, and execution methods.
Regardless of location decisions and regulatory changes, due to the lack of passporting, the coronavirus volatility that fuelled record volumes and broker profits last year should continue into 2021.
To get the full article and the bigger-picture on the post Brexit EU industry, get our latest Quarterly Intelligence Report.
A graduate of the Warsaw School of Economics, Sylwester received an MA specializing in finance and banking. As Finance Magnates' research associate and STA certified analyst, he leaves no stone unturned. Sylwester is the previous minority partner of an NFA registered US forex broker, and since 2003, has participated in many forex projects.
Gender Gap in Online Privacy Concerns: Women More Reserved in Sharing Personal Data
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
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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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