After being regulated for about four years by the U.K. Financial Conduct Authority (FCA), FX Stat has obtained a new set of permissions for its license including funds management and advisory services.
After the U.K. watchdog began enforcing stricter social trading rules, the company has obtained the necessary permissions to provide all of its current and future products without constraints from the FCA.
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FX Stat is now officially authorized to advise on investments, manage investments which puts it in compliance with social trading regulations. In addition the firm has both agency and principle dealing permissions which allow it to process orders on an STP basis.
Lastly, under its FCA license, the social trading network is allowed to arrange, safeguard and administrate assets while making arrangement with view to transactions in investment and arranging deals in investment, which also relates to social trading aspect of the regulations.
The changes make FX Stat fully compliant with updated FCA social trading regulations and license the firm to be STP provider in forex, commodities, futures, options and spread betting contracts.