The Group behind TigerWit, an online retail brokerage company that has offices in Beijing, Shanghai and a regulated subsidiary in the Bahamas, has just made a major acquisition. The firm has purchased FCA-regulated brokerage Mercor Index which was founded by industry veteran Simon Denham.
The acquisition is the first major purchase by TigerWit after the company successfully completed multiple rounds of financing over the past years. The company is actively expanding its presence in Europe and acquires a major asset with an FCA license at a time that might be critical for some EU-focused brokers.
The regulatory reshape that is taking place in Europe will affect the local market, but TigerWit’s acquisition is likely to cement the brand’s popularity in the Asia Pacific region. Mercor Index is the exclusive provider of the TimeToTrade platform in the UK.
FXTM Updates MT5 Pro Account with Stock Trading OptionGo to article >>
Commenting on the deal, the Founder of TigerWit Summer Xu said: “We are very excited about formally entering the UK market with the acquisition of Mercor Index and look forward to working with the team to grow their existing business and establish TigerWit as a leader in retail broking not only in the UK but globally.”
“The team’s wealth of experience in the online trading industry will assist us in expanding our operations and services, as well as most importantly, providing our clients with the option of trading under an FCA regulated provider,” Mrs Xu explained.
Time To Trade Trading Platform
Aside from retail FX and CFDs trading, the acquisition includes the TimeToTrade platform that delivers to retail investors the ability to invest directly in physical shares. The solution also has a rich list of automated trading features that includes a ‘Strategy Builder’ module which can be used by clients for back-testing strategies and apply those in a demo trading environment.
The platform’s aim has been to remove the complex coding requirements that traders face when developing algorithmic trading strategies.
Commenting on the acquisition news, the founder of Mercor Index, Simon Denham, said: “This is an exciting moment for both TimeToTrade and TigerWit. In the past few years, we have built a significant database of traders that use our platform with its fully integrated alerting, strategy builder and chart trading functions. With TigerWit’s expertise, we will be able to pool our technical know-how and industry knowledge to provide clients with the best tools and a safe trading environment.”