LMAX moves Poland FX clients to Conotoxia
Poland/Cyprus based Retail FX and CFDs broker Conotoxia has announced an agreement with its primary liquidity provider, London’s LMAX Global, whereby LMAX will transfer its Poland based clients to Conotoxia.
The deal between the parties doesn’t seem to have much to do with Brexit, as LMAX also operates an EU (Cyprus) based licensed subsidiary. Conotoxia stated that the rationale for the agreement is that Poland clients will still be able to enjoy the execution of LMAX orders, and receive the benefits from attractive pricing conditions offered by Conotoxia. However given that Conotoxia pricing effectively flows from LMAX in the first place, we believe that the deal is mostly focused on Conotoxia simply being able to provide better local customer service, in Polish, to Poland based clients.
LMAX Global offers brokers and professional traders around the world access to institutional FX liquidity, tight spreads and transparent, precise execution with no ‘last look’ rejections. The company operates regulated FX brokers in the UK (FCA), Europe (CySEC) and New Zealand (Registered Financial Service Provider).
Conotoxia is based in and operated mainly from Warsaw and Zielona Góra in Poland, but is licensed in Cyprus via group subsidiary Conotoxia Ltd. The company operates websites conotoxia.com and cinkciarz.pl, focusing mainly on the Poland domestic market and clients in other Eastern European markets. The company is controlled by founder and CEO, Polish entrepreneur Marcin Pioro. Conotoxia is the third largest domestic Retail FX broker in Poland, after publicly traded XTB.com and TMS Brokers, which was recently acquired by OANDA.