LONDON, June 25, 2012 /CNW/ - FxPro Financial Services Ltd (FxPro), a
leading FX broker today announced a major development in its global
business - FxPro UK Ltd is now open for business and will be operating
an agency model.
FxPro UK Ltd's clients will benefit from a true no-dealing desk
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, FxPro's 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 - including the London-based FxPro
UK Ltd, regulated by the Financial Services Authority (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 FSA,
ASIC, 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 FxPro's Australian
office last year, the expansion of services by FxPro UK Ltd and the
move to its agency model is another milestone in FxPro's progress
towards becoming the world's preferred FX broker.
Denis Sukhotin, founder of FxPro commented: "FxPro 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 'no dealing desk execution'
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."
SOURCE FxPro Financial Services Ltd (FxPro)
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