Platforms · Software · Providers · Markets
FxPro has agreed to move the client book held by its Cyprus entity to Capital.com. The transaction is awaiting approval from the Cyprus Securities and Exchange Commission (CySEC), according to a Capital.com press release.
Peter Aust, Chief Operating Officer of FxPro, said the change reflects a decision to direct the group towards its longer-term growth priorities. He said the Cyprus business is not a significant part of the group, and that most of its growth in recent years has come from outside Europe.
Account selection shapes the migration
Capital.com says the transfer will not cover every account. It will take on clients only if they satisfy its onboarding and risk criteria, and will apply its own KYC, target-market, appropriateness and client-categorisation requirements.
For operations teams, that makes eligibility and account handling central to the change. The receiving broker's checks will determine which clients can move, so the firms will need to coordinate the customer records and review steps involved. The announcement does not give an account count, a transfer date or technical migration details.
FxPro obtained its Cyprus Investment Firm (CIF) licence in 2007 and later used it to build a presence across the European bloc. It also holds licences in the United Kingdom, the Bahamas and the Seychelles.
Aust said FxPro will remain independent, with its ownership and leadership unchanged. The broker is retaining its FCA licence and its headquarters in the City of London. He said the group is adjusting its corporate structure to match how its business has developed, while directing resources towards the markets driving growth.
Capital.com adds to its regional reach
Capital.com has previously taken on clients from another broker: in 2023, it bought the retail and professional client book of OvalX, formerly ETX Markets, after OvalX decided to close. The company is owned by billionaire Viktor Prokopenya.
Its recent regulatory and hiring activity spans several markets. Capital.com has become regulated in South Africa and applied for licences in Japan and Turkey. It has hired local CEOs in Brazil and Chile, appears to be setting up local presences in Bahrain and Azerbaijan, and job postings indicate interest in a Singapore licence. Finance Magnates reported on those expansion moves.
Capital.com operates its European business from Cyprus. Christoforos Soutzis, Europe CEO at Capital.com, said the deal would extend the broker's reach in Europe and bring an established group of clients into its platform after the transfer completes.
The broker has also added physical stock trading for European customers, and plans to extend the service to the UK and the UAE.
What to watch next
CySEC approval is the immediate dependency. The announcement leaves the timing, number of eligible accounts and mechanics of the transfer unspecified. Operators should establish what client data will move, how eligibility decisions will be recorded and how rejected or delayed accounts will be handled.
Capital.com's categorisation, appropriateness and KYC checks will govern the incoming accounts. The firms have not detailed how they will coordinate those reviews or communicate the outcome to clients, so those are points to clarify before the transfer proceeds.
