Consolidation continues in the vibrant forex and CFD markets as Vantage FX UK becomes the latest firm to alter its existence. Forex Magnates reports that FCA authorised Vantage FX UK will be partnering with Australian-based GO Markets and rebranding its operation. The firm sent a note to its clients which outlined the details with the change expected to take place in March.
Vantage FX will be rebranded as GO Markets, the news coming on the same day as its Australian counterpart saw its license revoked from the Australian authorities. The latest move is believed to be a strategic change in the way the firm operates.
In an emailed statement to clients, Vantage FX UK stated: “We are delighted to inform you that Vantage FX UK has joined forces with the Australian broker GO Markets.”
Vantage FX and GO Markets have a long standing relationship, previously the two reputable retail currency and CFD brokers were under the same holding company, with GO Markets later demerging in 2013.
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Vantage FX UK was unavailable for comment.
Under the new terms, Vantage FX UK will amend its name, logo and website to accommodate the change in ownership, the note adds: “We will be changing our company name from Vantage FX UK to GO Markets UK and launching a brand new website. We will continue to operate as the same legal entity with the same FCA license.”
GO Markets, an Australian origin brokerage firm, was previously registered in the UK as an Authorised Representative on the FCA register, under the main license of Vantage FX in 2012.
Vantage FX UK will file a change of name with regulator, the procedure firms follow when taking over a licensed brokerage. Recently a number of firms changed the title of their license including; AxiTrader from FP Markets and Divisa Capital from MB Trading.