ActivTrades, an online FX and CFD broker, announced today that the company has received a license for its Luxembourg office. The broker plans to make the entire transition process easy for its European clients after Brexit.
According to the official press release shared with Finance Magnates, the new Luxembourg branch has been registered as ActivTrades Europe SA with registration number B232167. ActivTrades already has offices in Milan and Sofia.
ActivTrades has outlined what the strong growth company has achieved this year due to the market volatility. The broker posted record numbers for the first half of 2020.
Commenting on the recent announcement, Alex Pusco, CEO of ActivTrades, said: “Europe has always been a key market for ActivTrades, and this will not change after the Brexit transition is complete. The UK’s exit from the EU meant we had to look at new options to best serve our European clients, and Luxembourg was the obvious choice because of its strategic position at the heart of the old continent and because of its long financial tradition.”
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Impact of Brexit
Retail forex brokers around the world have taken major steps in recent months to protect European clients from the impact of the UK’s departure from the European Union. Finance Magnates recently reported about the opening of an office in Ireland by the Interactive Brokers in an effort to protect European clients from the effect of Brexit. ActivTrades mentioned that the company’s London office will continue to serve British clients.
“The London office, a stone’s throw away from the iconic Tower Bridge, will remain the company’s headquarters and will continue to serve British and international clients alongside the brokerage’s base in Nassau, Bahamas. Luxembourg will become the new European reference point and be supported by ActivTrades’ other offices in Milan and Sofia,” ActivTrades mentioned in the official press release.
The Broker posted record numbers in H1 of 2020 after a dip in financial results in 2019.