Interesting development has been a center of attention this week when FCA regulated broker Tickmill enquired CySEC licensed Vipro Markets. A large sum of $2.2 million has been purred into struggling Cyprus-based broker Vipro Markets in return for a majority ownership of the company.
CySEC regulated brokers have been in rather stressful situation lately since the regulator turn into harsher guidelines for forex and CFD brokers. There are limitations on leverage and a ban on deposit bonuses. The agenda of the regulator is to get rid of companies with questionable reputation and lack of fare features.
While other brokers struggle, Tickmill made a nice chunk of $6,27 million last year with monthly trading volumes in the $40 billion per month range. There was behind the scene cooperation between Tickmill and Vipro Markets starting this year which gradually resulted in merging of two.
Tickmill CEO Duncan Anderson remarked:
This is an exciting new chapter for Tickmill and one that will open up many opportunities to create extra value for clients of both of the companies. Tickmill has become a globally recognised broker among smart algorithmic traders and I am confident that the existing clients of Vipro Markets will very much appreciate being part of a bigger and stronger Tickmill Group which will deliver new products and services at a much faster pace under our regulated entities in the United Kingdom, Cyprus and Seychelles.