According to the FCA (Financial Conduct Authority) register, Trive Financial Services UK Limited, operating as TrivePro, applied for the United Kingdom’s FCA license cancellation on 14 June 2024.
The 15th February 2010-issued license revocation indicates the firm’s plan to vacate the UK markets.
However, FCA demands that TrivePro adhere to the regulatory body’s customer service standards.
TrivePro Brand Closure
TrivePro offers over-the-counter margin forex and CFDs (contract for differences) to institutional and professional clients. Due to leveraged trading, these instruments are highly risky.
Formerly known as GKFX Financial Services, TrivePro was bought and rebranded by Trive Investments BV from the Netherlands in 2022.
TrivePro restructured its operations in 2019 to focus on institutional and professional clients. The company transferred its retail clients to an affiliate in Malta and rebranded the business as GKPro from GKFX.
A Thriving Trade
The interesting thing about the FCA license cancellation is that it occurred after the company gained £10.79 million in annual revenue. That’s about 815% from the previous £2.49 million.
Adam Dougall stepped down at the beginning of this year. He had been the company’s CEO since December 2021. Additionally, a TrivePro non-executive director, Shravan Joshi, recently disconnected from the firm.
Meanwhile, the brand serves retail trading customers outside the UK through firms regulated by Malta, the British Virgin Islands, and a few other regions.
