FxPro Announces A Major Development In Its Global Operations
FxPro Financial Services Ltd (FxPro), a leading FX broker today announced a major development in its global businessâ FxPro UK Ltd is now open for business and will be operating an agency model.
FxPro UK Ltd streams and aggregates quotes from leading banks, including Deutsche Bank, UBS, and Morgan Stanley, and passes them on to clients directly to ensure they always receive the most competitive pricing.
By sending orders to the best bid/ask price on offer from their pool of more than 10 liquidity providers and only charging a mark-up on the spread or a fully transparent commission, FxProâs interests are fully aligned with those of their clients.
In addition, under the global umbrella of services offered by FxPro, clients now have the option of opening an account directly with one of three separately regulated companies â including the London-based FxPro UK Ltd, regulated by the Financial Conduct Authority (previously FSA).
FxPro has made a concerted effort over the last few years to make transparency not just a cornerstone of its business model but to encourage it in the wider FX industry. It is now authorised by the FCA and CySEC and despite being a private company it publishes its quarterly operational metrics online. It is also a member of the Securities Houses Compliance Officers Group (SHCOG).
Following closely on the heels of the opening of FxProâs Australian office last year, the expansion of services by FxPro UK Ltd and the move to its agency model is another milestone in FxProâs progress towards becoming the worldâs preferred FX broker.
Denis Sukhotin, founder of FxPro commented:
âFxPro is delighted to announce the opening of FxPro UK Ltd and its regulatory approval to operate its agency model. Following on from the successful launch last year of our cTrader ECN platform with its âno dealing desk executionâ we are now taking another giant step in aligning our interests with that of our clients through a full transition to an agency model on all our platforms. By removing any potential conflict between the interests of the customer and those of the dealing desk broker we believe we can offer retail FX customers a more transparent pricing and execution service. As retail FX clients have become more sophisticated and experienced, we believe that the demand for a transparent and trusted execution model has become the major driver in the industry.â

