Exclusive: FxPro Sells EU Clients to Capital.com as a “Strategic Optimisation, Not a Retreat”

FxPro has agreed to sell the client book held under its Cyprus entity to rival broker Capital.com, with the transaction still awaiting approval from the Cyprus Securities and Exchange Commission (CySEC). Capital.com confirmed the pending regulatory review in a press release, adding that only clients meeting its onboarding and risk standards will be transferred.

Each affected client will be assessed under Capital.com's own client categorisation, appropriateness, target market and know-your-customer requirements before any migration takes place. Capital.com runs its European operations from a base in Cyprus.

FxPro frames the move as "strategic optimisation"

Peter Aust, Chief Operating Officer of FxPro, described the disposal as "a strategic step to further align [the broker's] operations with our long-term growth ambitions," stressing that the Cyprus business is "not a significant part of the Group." He said the sale does not change the group's ownership, leadership or long-term strategy, and that FxPro remains fully independent: "We are simply letting go of a small and specific part of our business."

FxPro received its Cyprus Investment Firm licence in 2007 and used it to build a presence across the European bloc. Beyond Cyprus, the broker holds authorisations from regulators in the United Kingdom, the Bahamas and the Seychelles. Aust said the vast majority of recent growth has come from outside Europe and that international markets are now the primary drivers of the business. He added that FxPro is keeping both its FCA licence and its headquarters in the City of London.

Capital.com, owned by billionaire Viktor Prokopenya, has been expanding through acquisitions and new licences. In 2023 it bought the retail and professional client book of OvalX, previously known as ETX Markets, after that broker decided to shut down. It has since become regulated in South Africa and has said it is exploring licences in markets including Japan and Turkey, while hiring local CEOs in Brazil and Chile. Job postings suggest it may also be pursuing a Singapore licence. The broker has extended beyond CFDs into physical stock trading for European clients, with plans to grow that offering in the UK and the UAE.

Christoforos Soutzis, Europe CEO at Capital.com, said the step "will strengthen our reach in Europe" and, once the transfer completes, bring a well-established client base into Capital.com's environment. The FxPro deal follows other recent broker book sales, including Trade Nation's agreement to acquire the UK client book of FXCM and AvaTrade's purchase of most of its remaining businesses.