Darwinex Secures Europe Presence with Spain's CNMV License

Darwinex, a UK-based retail broker and asset manager, has gained an operational license from the regulator in Spain, locally known as Comisión Nacional del Mercado de Valores (CNMV).

Officially announced on Tuesday, the new license will allow the brokerage to legally offer trading services to retail customers in Spain and in other European Economic Area (EEA) countries.

“It has been a pleasure to collaborate with the CNMV regulator to adapt our business model, compliance processes, operations and finance to the Spanish regulation,” said Juan Colón, the Co-Founder and CEO of Darwinex.

Post-Brexit Plan

Darwinex already holds a license from the United Kingdom’s Financial Conduct Authority (FCA Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol Read this Term). The addition of the new license came as the company wanted to secure its operations in Europe after the closure of Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term. Before, it passported its FCA license to offer services to EEA clients.

The addition of the new license did not come as a surprise as the company already revealed in late 2020 its application for a Spanish license.

“This step closes our post-Brexit roadmap. We can now focus on improving our offering and on accelerating our growth,” Colón added.

Additionally, the broker raised €3 million last year in a funding round led by Stefan Jaecklin and Pinorena Capital to accelerate growth. So far, the company raised a total of €9 million in funding.

Darwinex was founded in 2012 by three entrepreneurs, Juan Colón, Javier Colón and Miguel Ángel González. Now it has offices in both London and Madrid. Moreover, the broker highlighted that it has more than 170,000 users in 75 countries and more than €80 million under management.

“Our investable indices create a symbiosis between traders and investors around an alternative product that stands out for being uncorrelated to traditional markets,” the CEO added.