According to the firm's CEO, brokers won't be able to continue serving retail clients without the license
Valutrades, a London-based retail broker, has upgraded its regulatory license according to CEO Graeme Watkins. Speaking exclusively to Finance Magnates, Watkins stated that the firm has upgraded its license, provided by the UK’s Financial Conduct Authority (FCA), to a full-scope IFPRU €730k firm
To upgrade its license, Valutrades raised £1.4 million ($1.82 million) from existing shareholders. This money will be put towards increasing the firm’s balance sheet and supporting its continual growth.
Growth could entail takeovers. According to Watkins, the firm might be using its recently raised funds and upgraded license to perform strategic takeovers or form new partnerships.
In the run-up to receiving its upgraded license, Valutrades also made several senior management hires. Last week, for example, the broker brought in Harry Campbell-Lamerton, formerly of ADS Securities, as Chief Operating Officer.
Survival of the licensed
Watkins also told Finance Magnates that the license would help Valutrades to adhere to the upcoming ESMA regulation concerning contracts-for-differences (CFDs). He added that he believes firms that do not obtain a similar license will be unable to continue serving retail clients.
The upgrade to full-scope IFPRU €730k firm status was partially credited to Compliancy Services; a consultancy firm that aided the retail broker in its efforts to obtain the new license.
Summing up his firm’s efforts, Watkins said: "The whole team at Valutrades has worked really hard on preparing the license application and new governance, systems and controls now we have received the approval for the upgraded license. We see this as the next obvious step in Valutrades goal of being one of the leading brokers in the UK based around a strong foundation of good Regulation and transparency to our clients."
Valutrades, a London-based retail broker, has upgraded its regulatory license according to CEO Graeme Watkins. Speaking exclusively to Finance Magnates, Watkins stated that the firm has upgraded its license, provided by the UK’s Financial Conduct Authority (FCA), to a full-scope IFPRU €730k firm
To upgrade its license, Valutrades raised £1.4 million ($1.82 million) from existing shareholders. This money will be put towards increasing the firm’s balance sheet and supporting its continual growth.
Growth could entail takeovers. According to Watkins, the firm might be using its recently raised funds and upgraded license to perform strategic takeovers or form new partnerships.
In the run-up to receiving its upgraded license, Valutrades also made several senior management hires. Last week, for example, the broker brought in Harry Campbell-Lamerton, formerly of ADS Securities, as Chief Operating Officer.
Survival of the licensed
Watkins also told Finance Magnates that the license would help Valutrades to adhere to the upcoming ESMA regulation concerning contracts-for-differences (CFDs). He added that he believes firms that do not obtain a similar license will be unable to continue serving retail clients.
The upgrade to full-scope IFPRU €730k firm status was partially credited to Compliancy Services; a consultancy firm that aided the retail broker in its efforts to obtain the new license.
Summing up his firm’s efforts, Watkins said: "The whole team at Valutrades has worked really hard on preparing the license application and new governance, systems and controls now we have received the approval for the upgraded license. We see this as the next obvious step in Valutrades goal of being one of the leading brokers in the UK based around a strong foundation of good Regulation and transparency to our clients."
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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