Scope Markets Re-enters China Following Acquisition by Rostro Group

Thursday, 29/06/2023 | 11:30 GMT by Jared Kirui
  • The Forex and CFDs broker has appointed a new managing partner for the region.
  • Rostro Group completed the acquisition of Scope Markets early this year.
Scope Markets, China

Scope Markets is returning to China following its acquisition by Rostro Group. The foreign exchange (FX) and contracts for differences (CFDs) broker has also appointed a new managing partner to oversee operations in China, Taiwan, Hong Kong, and the wider Asian region.

Scope exited China in 2021 due to regulatory challenges and the economic conditions that affected the demand for its services. However, with the decision to re-enter the market, the company expects to provide access to a range of trading instruments for its Chinese clients.

Michael Ayres, the CEO of Rostro Group, said in an email sent to Finance Magnates: "We had built a loyal following in the country, so look forward to rekindling many of those strong relationships, as well as working with new clients, too."

Scope Markets Eyes China

With access to multiple asset classes and instruments available on mobile and desktop devices, Scope would offer indices, commodities, and currencies available for trading 24 hours, five days a week. According to the company's statement, clients can trade on the MT4 or the MT5 platforms or on the Scope Market's web trading service and app.

Based in Belize and regulated by the International Financial Services Commission (IFSC), Scope Markets was acquired by Rostro Financial Group in January. The deal was completed in an all-cash transaction, bringing the retail broker under the control of Rostro.

Rostro is a multi-asset brokerage company that offers the execution and the clearing of listed securities and over-the-counter (OTC) derivatives. What's more, the broker controls Scope's main operation hub in Cyprus and in other regions, including Kenya and South Africa. Rostro also operates under the licenses issued by the regulators in Mauritius and Seychelles.

Expansion to MENA and Asia

The new development is part of Rostro's expansion plan into the Middle East and North Africa (MENA) region, and Asia. The plans were earlier stated by the company's Founder, Roger Hambury, following the completion of the acquisition of Scope Markets.

"In the last 12 months, we have completed several acquisitions to drive our expansion, all funded through free cashflows. The acquisition of Scope Markets presents the largest and latest acquisition , signaling our intent to be a leading provider of financial services within our sector globally," Hambury said.

Moreover, as part of its expansion plans, the broker has made strategic hires. Finance Magnates reported in March that Scope Markets hired Yaser Zidan, the former Vice President of Sales at Equiti, as the Sales Manager for the MENA region.

Scope Markets is returning to China following its acquisition by Rostro Group. The foreign exchange (FX) and contracts for differences (CFDs) broker has also appointed a new managing partner to oversee operations in China, Taiwan, Hong Kong, and the wider Asian region.

Scope exited China in 2021 due to regulatory challenges and the economic conditions that affected the demand for its services. However, with the decision to re-enter the market, the company expects to provide access to a range of trading instruments for its Chinese clients.

Michael Ayres, the CEO of Rostro Group, said in an email sent to Finance Magnates: "We had built a loyal following in the country, so look forward to rekindling many of those strong relationships, as well as working with new clients, too."

Scope Markets Eyes China

With access to multiple asset classes and instruments available on mobile and desktop devices, Scope would offer indices, commodities, and currencies available for trading 24 hours, five days a week. According to the company's statement, clients can trade on the MT4 or the MT5 platforms or on the Scope Market's web trading service and app.

Based in Belize and regulated by the International Financial Services Commission (IFSC), Scope Markets was acquired by Rostro Financial Group in January. The deal was completed in an all-cash transaction, bringing the retail broker under the control of Rostro.

Rostro is a multi-asset brokerage company that offers the execution and the clearing of listed securities and over-the-counter (OTC) derivatives. What's more, the broker controls Scope's main operation hub in Cyprus and in other regions, including Kenya and South Africa. Rostro also operates under the licenses issued by the regulators in Mauritius and Seychelles.

Expansion to MENA and Asia

The new development is part of Rostro's expansion plan into the Middle East and North Africa (MENA) region, and Asia. The plans were earlier stated by the company's Founder, Roger Hambury, following the completion of the acquisition of Scope Markets.

"In the last 12 months, we have completed several acquisitions to drive our expansion, all funded through free cashflows. The acquisition of Scope Markets presents the largest and latest acquisition , signaling our intent to be a leading provider of financial services within our sector globally," Hambury said.

Moreover, as part of its expansion plans, the broker has made strategic hires. Finance Magnates reported in March that Scope Markets hired Yaser Zidan, the former Vice President of Sales at Equiti, as the Sales Manager for the MENA region.

About the Author: Jared Kirui
Jared Kirui
  • 974 Articles
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About the Author: Jared Kirui
Jared is an experienced financial journalist passionate about all things forex and CFDs.
  • 974 Articles
  • 11 Followers

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