Australian brokerage Vantage Global Prime has acquired FCA-regulated brokerage Atom8. The target company was founded by David Andrews in 2012 and acquired official authorization from the UK regulator in 2013.
The firm has permission to operate on a matched-principal basis and has permission to provide CFDs, options, futures, shares and spread betting. The financial details of the deal have not been disclosed by the parties.
The acquisition makes Atom8 part of the Vantage Global Prime group and will be branded Vantage Global Prime UK. The owner of the company is one of the major shareholders of Vantage Global Prime Australia.
What to Look for in a Forex Technology Provider?Go to article >>
Vantage Global Prime, which is the Australian-regulated entity of Vantage Group, made the move as part of its global expansion. The deal represents a continuation of the broker consolidation trend seen in recent quarters across the industry.
Commenting on the matter, the Director of Sales and Marketing of Vantage FX, David Bily, said: “The acquisition of Atom8 is an exciting new chapter for the Vantage brand. Our group will use this opportunity to further grow our global footprint in the UK and the European region.”
“We understand that in the competitive market of forex trading, credibility is key to successful expansion and long-term business continuity. With ASIC and FCA regulated subsidiaries, our group is well positioned to meet the global clientele’s expectations. Our plan is to re-brand ‘Atom8’ as Vantage Global Prime UK and become the leading forex broker in the European region,” he elaborated.
Atom8 has been a relatively small player in the market with the latest available UK Companies House filing showing that the firm’s current assets as of the end of June 2016 amounted to £418,000 GBP ($553,000).