Ec
Markets Group Restricted, a Foreign exchange and Contract for Distinction (CFD) dealer based mostly
in London, has achieved membership standing on the London Inventory Trade (LSEG).
This strategic step is poised to unlock new avenues of progress and innovation
for the corporate.
Recognized
for its Foreign exchange and CFD buying and selling, Ec Markets Group has been an lively contributor to
the monetary sector. Becoming a member of the London Inventory Trade is anticipated to strengthen
its visibility, credibility, and entry to a broader investor base.
CEO
Matthew Smith said: “Changing into a member of the London Inventory Trade is a
testomony to our long-term objectives of innovation, progress, and a relentless drive
to broaden our presence in monetary markets worldwide.”
The
transfer is anticipated to have a optimistic influence on the corporate’s progress
trajectory. As a member of LSEG, Ec Markets Group Restricted is strategically
positioned to leverage new alternatives and contribute to London’s monetary
hub.
Ec Markets Group’s
FCA License and Supplied Devices
In
a report at Finance Magnates
earlier, it was said that Ec
Markets Group Restricted, previously often known as GCM Prime, resumed its operations
in 2022, reporting an annual turnover of $187,000 by the tip of December.
Regardless of
this, the London-based brokerage remained within the crimson, with an working lack of
$660,140, although it confirmed enchancment in comparison with the earlier yr’s lack of
$779,996. The corporate incurred a gross loss as a consequence of gross sales prices of $191,207, and
administrative bills of $656,433 have been larger than the prior yr’s $643,372,
leading to an total internet lack of $659,579. It additionally generated a minimal
curiosity earnings of $565.
Working
below an FCA license, Ec Markets presents margin spot foreign exchange and CFD devices
in treasured metals, indices, and crude oil. It primarily features as an
execution-only dealer brokerage of CFDs and rolling spot foreign exchange.
Past
its UK operations, Ec Markets operates below two offshore licenses, one from
the Seychelles Monetary Providers Authority and the opposite from the Mauritius
Monetary Providers Fee. The offshore entities supply a broader vary of
retail-focused providers, together with cryptocurrency
CFDs.
GCM
Prime beforehand ceased its providers in 2017 after incurring substantial
losses. The brokerage’s challenges have been partly linked to rumors suggesting a
connection to a different dealer, GCMFX, which had filed for chapter. The belongings
of GCM Prime have been
later acquired by Chinese language entrepreneur Xiaoliang Lyu, resulting in its rebranding
as Ec Markets Group Restricted.
Ec
Markets Group Restricted, a Foreign exchange and Contract for Distinction (CFD) dealer based mostly
in London, has achieved membership standing on the London Inventory Trade (LSEG).
This strategic step is poised to unlock new avenues of progress and innovation
for the corporate.
Recognized
for its Foreign exchange and CFD buying and selling, Ec Markets Group has been an lively contributor to
the monetary sector. Becoming a member of the London Inventory Trade is anticipated to strengthen
its visibility, credibility, and entry to a broader investor base.
CEO
Matthew Smith said: “Changing into a member of the London Inventory Trade is a
testomony to our long-term objectives of innovation, progress, and a relentless drive
to broaden our presence in monetary markets worldwide.”
The
transfer is anticipated to have a optimistic influence on the corporate’s progress
trajectory. As a member of LSEG, Ec Markets Group Restricted is strategically
positioned to leverage new alternatives and contribute to London’s monetary
hub.
Ec Markets Group’s
FCA License and Supplied Devices
In
a report at Finance Magnates
earlier, it was said that Ec
Markets Group Restricted, previously often known as GCM Prime, resumed its operations
in 2022, reporting an annual turnover of $187,000 by the tip of December.
Regardless of
this, the London-based brokerage remained within the crimson, with an working lack of
$660,140, although it confirmed enchancment in comparison with the earlier yr’s lack of
$779,996. The corporate incurred a gross loss as a consequence of gross sales prices of $191,207, and
administrative bills of $656,433 have been larger than the prior yr’s $643,372,
leading to an total internet lack of $659,579. It additionally generated a minimal
curiosity earnings of $565.
Working
below an FCA license, Ec Markets presents margin spot foreign exchange and CFD devices
in treasured metals, indices, and crude oil. It primarily features as an
execution-only dealer brokerage of CFDs and rolling spot foreign exchange.
Past
its UK operations, Ec Markets operates below two offshore licenses, one from
the Seychelles Monetary Providers Authority and the opposite from the Mauritius
Monetary Providers Fee. The offshore entities supply a broader vary of
retail-focused providers, together with cryptocurrency
CFDs.
GCM
Prime beforehand ceased its providers in 2017 after incurring substantial
losses. The brokerage’s challenges have been partly linked to rumors suggesting a
connection to a different dealer, GCMFX, which had filed for chapter. The belongings
of GCM Prime have been
later acquired by Chinese language entrepreneur Xiaoliang Lyu, resulting in its rebranding
as Ec Markets Group Restricted.
