Australian broker, VantageFX, announced today that it has signed a merger partnership with MXT Global. Under terms of the deal, the two firms will be merging their operations and will operate under the same regulatory umbrella of MXT. With the partnership, MXT Global will also assume responsibility for existing VantageFX customer funds. VantageFX customers will also have access to trading Gold/AUD, Silver/AUD, Platinum, Palladium and USD/CNH contracts which are available to MXT Global customers.
The deal continues a series of ownership changes of VantageFX. Initially acquired by Enfinium in 2010, the combined entities were then bought by Hong Kong-based, AIP Global in 2012 along with Go Markets. After a period of operating as individual brands but sharing common resources such as the FX Copy social trading network, Go Markets was sold off in 2013. Since that time, the Enfinium brand has also been closed down, with only VantageFX operating. According to a representative at VantageFX, looking ahead, the two brands will be planning to relaunch as only MXT in the future.
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For MXT, the broker has been very active in in the APAC market since its launch in 2012. This year, they have been attempting to expand their brand appeal, having revamped their website in February to appeal to a more international audience. The acquisition of VantageFX is expected to provide them with greater distribution channels of their products to the rest of the world.
Commenting on the news in their public statement, MXT Global Managing Director, Reiji Onizawa, who assumed the position in May said, “We look forward to this new era with Vantage FX. The combination of resources will be invested in improving client and services offering.”
(More details to follow)