The United Kingdom has been regarded as the most attractive destination for overseas businesses investing in Europe. Avus Capital, an FX and CFD brokerage firm, has reinforced the notion by setting up a London-based unit. Forex Magnates reports that the brokerage firm has received authorization under the UK’s main financial markets watchdog.
Avus Capital, a Bulgarian origin broker-dealer offering traders access to global financial markets, was granted regulation by the UK authority on the first of October. The broker joins the growing number of international financial services firms selecting London as their preferred destination for future business development.
The decade old provider of financial derivatives operates the brand and trading platform, Trading 212. The firm offers traders execution-only services through its purpose built trading terminal.
The firm initiated its UK solution earlier this year, on its LinkedIn page the firm issued a job for a Compliance officer with CF10 & CF11 experience, a prerequisite for authorization under the FCA. In the advert, Avus Capital was expecting its authorization in April, this year.
The firm has been a prominent player in the Eastern European markets, however since launching a strong marketing campaign focused on the UK, it has seen a considerable number of users from this region. Borislav Nedialkov, pictured, Director at Avus Capital UK, spoke to Forex Magnates about the firm’s expansion into the UK, he said: “Our biggest markets are the UK, Germany, Italy and Poland. We opened our office in London, as we see a lot of potential growth in the UK. We wanted a local presence in order to accommodate the needs of our clients and provide them with the best trading service possible.”
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Avus Capital has been operating for over ten years, outside of the UK the firm is licensed by Bulgarian authorities, and according to the Financial Services Commission’s (Bulgaria) website, it received its license in 2011. The broker’s website states that it has over 200,000 traders.
Although Avus Capital is relatively unknown in the mainstream market, its Facebook page has over ninety thousand page likes, furthermore, the firm has spent extensively on its social media marketing strategy as one of its Youtube videos has 2.7 million page views.
Avus Capital offers traders access to its bespoke trading portal, Trading 212, a multi-device portal for FX & CFD markets. Mr Nedialkov added: “We have always been a technology-driven broker, ever since the company’s inception 10 years ago. Our platforms are 100% developed in-house which gives us the flexibility to adapt them quickly to incorporate our clients’ demands and our vision. We love the challenge of enhancing our advanced web platform TRADING 212 PRO while keeping it smooth and user-friendly across all devices.”
Unlike its peers the firm has opted out of the norm by not offering the popular MetaTrader 4 platform, Mr. Nedialkov believes that there is scope in the market for new platforms, he said: “We feel that there is a demand for new platforms on the market; platforms that are both easy to start with and advanced enough to meet every client’s needs. This is why developing our own, unique trading platforms has always been our primary focus and our competitive advantage.”
Apart from Europe, the broker plans to extend its reach into new markets such as Russia and China. A spokesperson added: “Our current focus is on the European markets as well as China and Russia. Our platforms are translated in 16 languages and we will continue to build upon our strong international presence. In all markets, we use a direct sales model. We don’t rely on affiliates, introducing brokers or partners.”