Monex Indonesia had previously received a CySEC license, but apparently decided to launch in the UK instead.
Not to be confused with Japanese forex broker Monex Group (which also owns US-based IBFX and TradeStation), Monex Indonesia has set up a UK subsidiary — Monex Capital — gained an FCA license, hired a team of ex-CMC Markets and London Capital Group executives, and launched a forex and binary options brokerage.
Monex Capital clients can trade on either the MT4 or Tradable trading apps platforms.
Again, Monex Indonesia (and the new Monex Capital) have nothing to do with Monex Group of Japan. Interestingly. Monex Group became the first forex brokerage to launch Tradable in Japan.
As we reported back in May, Monex Indonesia had in fact set up a subsidiary in Cyprus and even applied for and received a CySEC CIF license. That license remains valid, but has not yet been activated. We assume that the original plan was to launch Monex Capital out of Cyprus, but that later Monex Indonesia changed its mind and opened its EU shingle in the UK instead. Perhaps because of the Cyprus bank crisis? Perhaps because they found the right management team in the UK? We’ll follow up….
To see the complete Monex Capital press release click here.