Exclusive: ABK Holding to Acquire FX and CFDs Broker CrescoFX

ABK Holding JSC, which operates multiple brands in the trading industry, is moving to acquire London-based boutique broker, Cresco Capital Markets (UK) Ltd, known by its tradename CrescoFX, the companies told Finance Magnates exclusively.

ARK Co-Founders, Murat Kutay Yildirim and Gokalp Icer have already conditionally agreed upon the terms of the acquisition deal, which is now pending the UK’s Financial Conduct Authority’s approval. However, the companies did not reveal the financials involved in the deal.

Founded in 2011, CrescoFX termed itself as a ‘boutique broker’ serving both retail and institutional traders. It gained a license from the British financial market regulator in 2017 and is offering trading services with CFDs of forex, commodities, equities and other asset classes.

Along with the industry-standard MetaTrader Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, CrescoFX offers trading on its proprietary Cresco Trader, which provides automatic execution, ‘competitive and reliable' pricing, and ‘advanced’ Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term tools.

A Strategic Acquisition Deal

Commenting on the acquisition, Yildirim, one of the co-founders of ABK Holding, said: “The acquisition is great timing, the global growth in retail trading is accelerating, and with CrescoFX we are now well-positioned and have the best technology to meet the demands of this fast-growing sector.”

Based in Turkey, ABK has a wide presence in the financial services industry with operations in fintech, insurance, investments, cryptocurrency, consultancy and technology. According to the company, the latest acquisition will complement its existing portfolio of trading solutions, especially multi-asset trading platform, NYFX and crypto exchange, Icrypex.

“We’re delighted to add CrescoFX to our portfolio, the synergy of this platform expands and strengthens our offering to our existing NYFX and Icrypex users,” Icer, the other Co-Founder, added.