Financial and Business News

Fortune Prime Acquires GMT Markets to Offer CFDs in Australia

Thursday, 13/07/2023 | 07:22 GMT by Arnab Shome
  • GMT Markets has offered FX and CFDs in Australia since 2011.
  • Fortune Prime has already started to offer services with the ASIC license gained through the acquisition.
View of the Australia opera house and darling harbour
View of the Australia opera house and darling harbour

Fortune Prime Global, trading as FPG Capital Group, announced the acquisition of GMT Markets, an Australia-licensed derivative provider, to expand services to forex and contracts for differences (CFDs) trading.

Fortune Prime Acquires GMT Markets

Headquartered in Melbourne with offices in Sydney and other parts of the country, Fortune Prime Globalportfolio encompasses construction, mortgage brokerage, currency exchange services, property development, and import and export ventures. Now, the latest acquisition will further allow it to broaden its services.

“We are excited to provide our services to Australian clients. This marks a significant milestone for FPG Capital as we further expand into the financial services sector. Our goal is to deliver excellent executions and services to traders, and we look forward to the future ahead,” said Mark Tsang, the Head of Business Development at Fortune Prime Global.

GMT Markets has been in existence since 2011. It is regulated by the Australian Securities & Investments Commission (ASIC), which the new owner can now use to offer its services.

Fortune Prime Global capital group has already started to offer FX and CFDs trading services in Australia. It provides the services under the FPG Capital Group brand with the license of the GMT Markets, which has now been transferred to Fortune Prime Global Capital Pty Ltd. The GMT Markets website shows a “site is undergoing maintenance” message, hinting at a total closure of it.

FPG Capital offers CFDs trading with forex, shares, commodities, cryptocurrencies, and indices. Apart from the Aussie license, the company also provides trading services globally with authorization from the Vanuatu Financial Services Commission (VFSC).

Strict Rules in Aussie Market

Australia is one of the mature markets for forex and CFDs trading. Activities in the country are tightly regulated by ASIC, and local authorization is mandatory.

Recently, the Aussie regulator has become strict with compliances around design and distribution obligations (DDO). It took action against several brokerages and even suspended the operations of the CFDs broker, Mitrade Global last month for 21 days. Other renowned brands flagged by ASIC were Saxo and Interactive Brokers.

Fortune Prime Global, trading as FPG Capital Group, announced the acquisition of GMT Markets, an Australia-licensed derivative provider, to expand services to forex and contracts for differences (CFDs) trading.

Fortune Prime Acquires GMT Markets

Headquartered in Melbourne with offices in Sydney and other parts of the country, Fortune Prime Globalportfolio encompasses construction, mortgage brokerage, currency exchange services, property development, and import and export ventures. Now, the latest acquisition will further allow it to broaden its services.

“We are excited to provide our services to Australian clients. This marks a significant milestone for FPG Capital as we further expand into the financial services sector. Our goal is to deliver excellent executions and services to traders, and we look forward to the future ahead,” said Mark Tsang, the Head of Business Development at Fortune Prime Global.

GMT Markets has been in existence since 2011. It is regulated by the Australian Securities & Investments Commission (ASIC), which the new owner can now use to offer its services.

Fortune Prime Global capital group has already started to offer FX and CFDs trading services in Australia. It provides the services under the FPG Capital Group brand with the license of the GMT Markets, which has now been transferred to Fortune Prime Global Capital Pty Ltd. The GMT Markets website shows a “site is undergoing maintenance” message, hinting at a total closure of it.

FPG Capital offers CFDs trading with forex, shares, commodities, cryptocurrencies, and indices. Apart from the Aussie license, the company also provides trading services globally with authorization from the Vanuatu Financial Services Commission (VFSC).

Strict Rules in Aussie Market

Australia is one of the mature markets for forex and CFDs trading. Activities in the country are tightly regulated by ASIC, and local authorization is mandatory.

Recently, the Aussie regulator has become strict with compliances around design and distribution obligations (DDO). It took action against several brokerages and even suspended the operations of the CFDs broker, Mitrade Global last month for 21 days. Other renowned brands flagged by ASIC were Saxo and Interactive Brokers.

Topics
Australia
Asic
About the Author: Arnab Shome
Arnab Shome
  • 7315 Articles
  • 133 Followers
Arnab Shome is an electronics engineer-turned-financial editor. He holds a Bachelor of Technology from the National Institute of Technology, Agartala. He entered the retail trading industry about a decade ago, covering the cryptocurrency market for Finance Magnates, and later expanded his coverage to include forex and CFDs as well. His work at Finance Magnates includes C-level interviews, data-driven analysis, opinion pieces, and scoops of industry exclusives. He also contributes to Finance Magnates’ quarterly industry report. Area of coverage: 1. CFD broker-related news 2. Industry-related Regulatory updates and developments 3. New retail trading trends 4. Prop trading industry updates 5. Executive interviews Education: Bachelor of Technology - National Institute of Technology, Agartala (India)

More from the Author

Retail FX

Finance Magnates Awards 2026 – Nominations Now Open

Finance Magnates Awards 2026 – Nominations Now Open

The Finance Magnates Awards 2026 nominations are now open. 🏆 From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements. Winners will be announced at the Cyprus Gala Dinner on November 6, 2026. Nominate your brand now. https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open #FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry

The Finance Magnates Awards 2026 nominations are now open. 🏆 From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements. Winners will be announced at the Cyprus Gala Dinner on November 6, 2026. Nominate your brand now. https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open #FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
More Videos

  • Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry

    Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry

    Lights on. Cameras ready. 🎬 Finance Magnates Awards 2026 nominations are now open. 🏆 #FMAwards #FinanceMagnates #FintechAwards #Fintech

    Lights on. Cameras ready. 🎬 Finance Magnates Awards 2026 nominations are now open. 🏆 #FMAwards #FinanceMagnates #FintechAwards #Fintech

  • Exness sees trust as the key theme for growth in MENA Trading Growth for 2026

    Exness sees trust as the key theme for growth in MENA Trading Growth for 2026

    Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026. In this interview, you'll learn: * Why Dubai and the MENA region are critical growth markets for fintech and online trading. * How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions. * The essential role local talent plays in providing a culturally relevant and compliant user experience. * Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary. * Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust." Key Takeaways: ➡️ The MENA region is rapidly shaping global financial markets. ➡️ New traders expect stability, precise execution, and transparency. ➡️ Local expertise is key to regulatory compliance and user experience. ➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency. Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/ #Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading

    Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026. In this interview, you'll learn: * Why Dubai and the MENA region are critical growth markets for fintech and online trading. * How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions. * The essential role local talent plays in providing a culturally relevant and compliant user experience. * Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary. * Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust." Key Takeaways: ➡️ The MENA region is rapidly shaping global financial markets. ➡️ New traders expect stability, precise execution, and transparency. ➡️ Local expertise is key to regulatory compliance and user experience. ➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency. Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/ #Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading

  • Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026

    Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026

    At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges. Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift. #PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech

    At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges. Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift. #PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech

  • Altima CTO Sunil Jadhav: Solving Data Fragmentation & Lag for Brokers & Prop Firms

    Altima CTO Sunil Jadhav: Solving Data Fragmentation & Lag for Brokers & Prop Firms

    Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today. Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk. Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks. Key Topics: - Broker and Prop Firm Data Challenges - The problem of delayed data processing (batch processing vs. real-time events) - Fragmented systems and conflicting data sources - Altima's unified, event-driven solution architecture - The concept of a "risk-aware CRM" - Built-in risk management in Altima Prop #Altima #financemagnates #iFXDubai #FinTech #BrokerTech #PropFirm #CFDBroker #TradingTechnology #RealTimeData #RiskManagement #CRM #FinancialMarkets #EventDrivenArchitecture

    Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today. Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk. Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks. Key Topics: - Broker and Prop Firm Data Challenges - The problem of delayed data processing (batch processing vs. real-time events) - Fragmented systems and conflicting data sources - Altima's unified, event-driven solution architecture - The concept of a "risk-aware CRM" - Built-in risk management in Altima Prop #Altima #financemagnates #iFXDubai #FinTech #BrokerTech #PropFirm #CFDBroker #TradingTechnology #RealTimeData #RiskManagement #CRM #FinancialMarkets #EventDrivenArchitecture