Land-FX is now authorized by UK FCA
June 8, 2016, 12:00 am
Land-FX, an online brokerage, announced today that its UK entity (LandFX UK Ltd.) has been granted an authorised status by the UK’s Financial Conduct Authority (FCA). The group has operations in worldwide without any presence in the European markets thus far. “This will change as we now have the authorisation to access UK markets as well as other EU countries by passporting FCA license.” says Lucian Mihalachi, a director of business development.
In FX and CFD industry, UK’s FCA license is highly sought after as it represents the high standard it puts forth on the firms with the strict guidelines such as capital requirements, systems, and the management. According to the industry participants, the FCA authorisation process is becoming more rigorous as many firms with other regulatory bodies’ approval compete for the UK regulator’s reputation.
For the top level financial confidence and investment protection, the company is now part of UK’s Financial Ombudsman Service (FOS) and Financial Services Compensation Scheme (FSCS).
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