RoboMarkets will end FX/CFD offerings in Europe

WikiFX

| 2024-09-10 15:04

abstrak：RoboMarkets recently announced that it will discontinue its retail FX/CFD operation in Europe, which is regulated by CySEC; it will continue its institutional business in the EU.

RoboMarkets recently announced that it will discontinue its retail FX/CFD operation in Europe, which is regulated by CySEC; it will continue its institutional business in the EU. By the end of 2024, the brokerage group's European business model will change. RoboMarkets Deutschland GmbH, situated in Frankfurt and regulated by BaFin, will lead the retail business and focus only on stocks, bonds, and ETFs.

Robomarkets posted on their official X Account,“ introducing their new business model. The Cyprus-based, CySEC-regulated #RoboMarkets Ltd. will transition to an institutional broker and cease serving retail clients in early 2025. As part of this shift, the Frankfurt-based, BaFin-regulated RoboMarkets Deutschland GmbH will become the hub for servicing European retail clients”.

RoboMarketss spokesperson said, “Given the conditions of the European market, we have decided to focus our European operations and expertise on serving primarily stock investors and traders,”

Vanyo Walter, Director of RoboMarkets Deutschland GmbH, stated, “Our proprietary platform, developed by our IT team and supported by ongoing investments in technology, is designed to benefit our clients and attract more self-directed traders and investors in Europe. We believe the market for self-investing and trading in stocks will grow significantly in Europe, and we are committed to becoming one of the leading stockbrokers in the region.”

About RoboMarkets

RoboMarkets is a brokerage firm regulated by CYSEC, which offers a diverse range of trading instruments across different asset classes. With access to stocks, indices, forex, cryptocurrencies, ETFs, commodities, precious metals, and energy, traders have a wide selection to choose from. The broker provides various account types, including Prime accounts, ECN accounts, R Stocks Trader accounts, and ProCent accounts, catering to different trading preferences and strategies.

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