Today ActivTrades announced that they had received a license for their Luxembourg office. The broker plans to facilitate its European clients after Brexit. ActivTrades is an online FX and CFD broker.
ActivTrades plans to make the transition process easy for its European clients after Brexit. Moreover, the broker has registered its Luxembourg branch as ActivTrades Europe SA. Its registration number is B232167. The company already has offices in Sofia and Milan.
The company also outlines that the strong growth they achieved this year was due to market volatility. The broker posted record numbers in its first half of 2020.
Alex Pusco, the CEO of ActivTrades, said Europe has always been a critical market for ActivTrades. The broker added that the market would not change after the Brexit transition was complete.
After the UK’s exit from the European Union meant the broker had to look at new options to serve European clients. Certainly, Luxembourg was the obvious option because of its strategic position. Luxembourg is in the heart of the old continent, and its long financial tradition was an added advantage.
Impact of Brexit
Retail forex brokers globally have taken significant steps recently to protect their European clients from Brexit impact.
Furthermore, interactive Brokers’ move to open an office in Ireland was an effort to protect their European clients from the Brexit effect.
ActivTrades also mentioned that their London office would continue to serve their British clients. Their London office is a stone’s throw away from the iconic Tower Bridge. It will remain the broker’s headquarters and serve both international and British clients alongside their Nissan, Bahamas.
Moreover, ActivTrades mentioned that Luxembourg would become the new European reference point. However, they will continue to support other offices in Milan and Sofia.
The broker posted record numbers in H1 of 2020 after a drop in its financial results in 2019.