LeapRate Exclusive… LeapRate has learned that Retail Forex broker Tickmill has successfully received a license from UK regulator the Financial Conduct Authority (FCA) for its UK entity, Tmill UK Limited.
Tickmill has grown to date to the $50 billion per month volume range as a Seychelles regulated broker, focusing mainly on markets in the Far East, and on algo and EA traders.
With the FCA authorization, Tickmill is set to expand its reach to the UK and Europe, in what is becoming an increasing crowded FCA regulated online brokerage market. To that end, we understand that Tickmill will officially launch its services in the UK and Europe today, November 9.
In September 2016, Tickmill clients executed more than three million trades, out of which 63% were placed by algorithms and EAs, while 37% were placed manually.
The company has hired UK industry veteran Duncan Anderson as the CEO of Tickmill UK. Anderson was most recently CEO of Japan’s Hirose Financial operations in the UK. He was also a senior manager at ODL Securities before its acquisition by Gain Capital Holdings Inc (NYSE:GCAP), and at City Index.
Anderson has also been involved in his own company called AQL Capital throughout. AQL provides value added algorithmic trading software for brokers and traders using MT4.
Mr. Anderson provided the following comment on his hiring and the new FCA license for Tickmill:
It is indeed a great honour to be working with the Tickmill team. With a proven track record of strong financial results and stable growth, evidenced by the record-high monthly trading volume of $51.7 billion posted in July, the Company has put itself in an enviable position as a market leader and innovator. This underlines Tickmill’s firm belief in outstanding customer service, and to that end, I am really excited to help bring the respected Tickmill brand to Europe.
The FCA authorisation marks a new chapter in our history as we expand globally. There is now a clear path to enter the European market with a firm commitment to put our clients’ interests at the heart of our operations and to deliver brokerage services of outstanding quality.