FCA Authorised €125K broker dealer including CFDs 

Sale price is 1,350,000 GBP

Details:

The deal includes the trading platform, requisite staff and current clients. Current client trade about 2 yards per month and there is about 900,000 GBP of Client Money

Annual renewal fees of the license is about £32,000 per annum including annual levy.

If there is no retail business, fee would be lower.

Banking with Barclays and Royal Bank of Scotland

Current staff and office can stay.

This firm must protect the money it holds and/or controls on behalf of customers. It cannot lend this money or use it to finance its own business.

FCA Permissions and passports on the FCA website are as follows:

  • Dealing in investments as principal:

Investment Type:

  1. Contract for Differences (excluding a spread bet and, a rolling spot forex contract and a binary bet)
  2. Future (including a commodity future)
  3. Option (including a commodity option and an option on a commodity future)
  4. Rights to or interests in investments (Contractually Based Investments)
  5. Rolling spot forex contract
  6. Spread Bet

Customer Type: Eligible Counterparty, Professional, Retail (Investment)

Limitation: Limited Licence – matched principal broker

  • Dealing in investments as agent:
  • Arranging (bringing about) deals in investments:
  • Making arrangements with a view to transactions in investments:

Investment Type:

  1. Commodity Future
  2. Commodity option and option on commodity future
  3. Contract for Differences (excluding a spread bet and, a rolling spot forex contract and a binary bet)
  4. Future (excluding a commodity future and a rolling spot forex contract)
  5. Option (excluding a commodity option and an option on a commodity future)
  6. Rights to or interests in investments (Contractually Based Investments)
  7. Rolling spot forex contract
  8. Spread Bet

Customer Type: Eligible Counterparty, Professional, Retail (Investment)

EU & EEA passports for 31 countries

A ‘passport’ enables an authorised firm to provide financial products or services, set up a base, or run its permitted activities in another country in the European Economic Area (EEA). This includes where a firm regulated in another EEA country passports into the UK.

AUSTRIA | BELGIUM | BULGARIA | CROATIA | CYPRUS | CZECH REPUBLIC | DENMARK | ESTONIA | FINLAND | FRANCE | GERMANY | GIBRALTAR | GREECE | HUNGARY | ICELAND | IRELAND | ITALY | LATVIA | LIECHTENSTEIN | LITHUANIA | LUXEMBOURG | MALTA | NETHERLANDS | NORWAY | POLAND | PORTUGAL | ROMANIA | SLOVAKIA | SLOVENIA | SPAIN | SWEDEN |

Passport Type

A(1) Reception and transmission of orders in relation to one or more financial instruments

Investment Type

C(10) Other contracts

C(4) Derivatives in Securities, etc

C(5) Commodities Derivatives – Cash Settled

C(8) Derivative instruments for the transfer of credit risk

C(9) Financial contracts for differences

A(2) Execution of orders on behalf of clients

Investment Type

C(10) Other contracts

C(4) Derivatives in Securities, etc

C(5) Commodities Derivatives – Cash Settled

C(8) Derivative instruments for the transfer of credit risk

C(9) Financial contracts for differences

A(3) Dealing on own account

Investment Type

C(10) Other contracts

C(4) Derivatives in Securities, etc

C(5) Commodities Derivatives – Cash Settled

C(8) Derivative instruments for the transfer of credit risk

C(9) Financial contracts for differences

B(5) Investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments

Investment Type

C(10) Other contracts

C(4) Derivatives in Securities, etc

C(5) Commodities Derivatives – Cash Settled

C(8) Derivative instruments for the transfer of credit risk

C(9) Financial contracts for differences

Details: dmitriy.m@eternitylaw.com

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