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Screenshot of a breaking news alert e-mail from Q2 2017
Acenya Capital just announced that relaunches after a two year interruption.
Acenya Capital has signed a new white label partnership agreement with MEX Europe and, as it does not have its own FCA license, is acting as an appointed representative of MEX Europe, which is authorised and regulated by the Financial Conduct Authority (FCA).
The brokerage was first launched in September 2014 but was forced to temporarily halt regulated financial services in July 2015.
LeapRate reached Acenya Capital Limited’s CEO and co-Founder Anand Grewal for more detailed information.
You can read more in the Q and A below:
LeapRate: Hi Anand, thanks for joining us today… Could you tell us why was the company forced to temporarily halt regulated financial services in the first place?
Anand: Acenya Capital was setup to initially act as an Appointed Representative to an FCA Principal firm. Authorisation was granted in November 2014 and we commenced business. Unfortunately mid 2015 the principal firm voluntarily withdrew from the financial markets, causing Acenya Capital to loose its Appointed Representative status and hence its regulatory coverage.
LeapRate: Tell us some more details on your partnership with MEX Europe.
Anand: Acenya Capital regained its Appointed Representative status under MEX Europe in February 2017. We also decided to further solidify the relationship by taking a White Label of their Metatrade 4 trading platform. From initially meeting MEX Europe we felt at ease about the partnership and the stability of MEX Europe as a business. This was important to us so to ensure continuity in our business and brand. It was also vital that our new principal shared our client centric values.
LeapRate: The company returns to the market with a new partnership – what else is new?
Anand: While relaunching the business we have developed and secured key strategic partnerships and relationships with leading service providers in the industry. One type of partnership we have secured with a number of vendors is education. It is important to us as a business that we provide all the tools a trader needs to optimise their trading objective. Educators in the financial services have recently come under a lot of scrutiny, Acenya Capital wants to ensure that the ancillary services provided to their clients are second to none. In May 2016 we also launched Acenya Traders an unregulated business which focuses on the development of trading talent which further aligns with the values and ethos of Acenya Capital.
LeapRate: What are your future plans on winning back your clients’ trust?
Anand: It’s not only the trust of our previous clients that we are looking to win, in fact our previous clients have been very supportive of our relaunch. We do however feel that we need to win the back the trust of clients across the industry. We have seen in recent that brokerages have been exposed for misleading and mistreating clients. It’s our obligation as a participant in the market to ensure clients are treated fairly, transparently and are given every opportunity to succeed in the financial markets. As for the future we are working closely with the compliance team at MEX Europe to make certain that we are transitioning smoothly into MiFID II.