LeapRate Exclusive… LeapRate has learned via regulatory filings that global Retail FX brokerage group ATFX has invested an additional £2 million (USD $2.6 million) of capital into its FCA regulated UK business, AT Global Markets (UK) Limited.
The investment comes as the company is ramping up operations and personnel in London, ahead of continued planned expansion in the UK and Europe. We recently exclusively reported that ATFX UK had added compliance expert Julian Courtney to its Board of Directors. As was also exclusively reported by LeapRate in April, ATFX recently expanded to Cyprus by acquiring control of CySEC licensed institutional FX broker PositivaFX, expanding the operation to include Retail FX.
ATFX is a co-brand shared by a number of different entities globally including the aforementioned FCA regulated AT Global Markets (UK) Limited in the United Kingdom, ATFX Global Markets (CY) Limited in Cyprus (formerly PositivaFX), AT Capital Markets Limited in the United Arab Emirates and AT Global Markets Malaysia. AT Global Markets (UK) Limited is controlled by international businessman Hiu Keung (Joe) Li, who has been rapidly expanding his FX empire in the past few months since the initial setup in 2015. The UK company was set up in 2015 and received a matched-principal broker license from the FCA in July 2017.
To run the AT Global Markets (UK) Limited operation, Richard Craddock was hired as CEO. Mr. Craddock had previously been Chief Trader with MF Global, COO of institutional FX broker Fixi plc, and an executive and board member of the Naga Group and its SwipeStox (now Naga Markets) retail trading arm. Kicking off the company’s new UK presence, ATFX recently engaged in a high-profile London Taxi ad campaign (see picture above).
Richard Craddock, CEO of ATFX (UK) stated to LeapRate:
The capital boost shows the commitment ATFX has to London and holding the best regulation. Coupled with our recent hirings we look forward to continuing our expansion and exploring new markets.