Exclusive: ThinkMarkets acquires CySEC license, expanding EU services from Cyprus
FNG Exclusive… FNG has learned that Australia based Retail FX and CFDs broker ThinkMarkets has acquired a CySEC licensed entity (and thereby its CIF license), and is actively building up its capabilities to serve EU clients from its Cyprus office.
ThinkMarkets (like many other brokers) had traditionally serviced its EU client base out of the company’s FCA licensed entity in London, TF Global Markets (UK) Limited. However leading up to “Hard Brexit” the company needed to find a base in the EU to serve EU resident clients. And, like several other brokers have, ThinkMarkets chose Cyprus.
ThinkMarkets actually acquired CySEC licensed A-Conversio Capital Ltd in 2019, but due to the COVID pandemic the company didn’t really get rolling in terms of hiring, and the onboarding and servicing of clients, until earlier this year. A-Conversio Capital Ltd has now been renamed TF Global Markets (Europe) Ltd.
A number of hires have been made this year to build up ThinkMarkets’ Cyprus office in Limassol. We reported exclusively earlier this month that experienced FX industry marketing executive Chantelle Lea joined ThinkMarkets (from GMI) as Marketing Manager in Cyprus. Other recent hires in Cyprus include:
- Szanella Tojzan, Head of Back Office (ex FP Markets, Windsor Brokers, Trading.com, LCG, FxPro).
- Leo Neophytou, Head of Brokerage for Europe (ex Pepperstone, Axiance, IronFX).
ThinkForex was established in 2010 by brothers Nauman and Faizan Anees in New Zealand, and relocated its headquarters to Australia upon obtaining ASIC licensing in 2012. ThinkForex rebranded as ThinkMarkets in 2016. The company has dual headquarters in Melbourne and London, where ThinkMarkets set up its FCA-licensed subsidiary TF Global Markets (UK) Limited in 2015. The firm also has licensed subsidiaries in South Africa established in 2019, in Cyprus (TF Global Markets (Europe) Ltd), and recently launched a Japanese licensed operation. ThinkMarkets offers trading on its proprietary ThinkTrader platform, as well as MT4 and MT5.