M4Markets buys Axiance operator ICC Intercertus and its CySEC license
Retail FX and CFDs broker M4Markets has announced that it has “come onshore”, by acquiring CySEC licensed company ICC Intercertus Capital Ltd, which it has renamed Harindale Ltd.
ICC Intercertus Capital Ltd until now operated the Axiance brokerage brand, which was rebranded from EverFX in 2021. It appears as now Axiance has gone offshore, with the axiance.com website being operated by a Seychelles company called Aerarium Limited. Visits to axiance.eu now redirect to m4markets.eu. Axiance CEO Panikos Teklos will be joining M4Markets, Group CEO.
M4Markets has operated until now an offshore broker, formally domiciled in Seychelles with operator Trinota Markets (Global) Limited holding a financial services license from the Financial Services Authority (FSA) in the Seychelles. However the company has been operated primarily from Cyprus, and has hired a number of operational and marketing executives in the country, with a number of the hires coming from Tickmill. M4Markets was established by Deepak Jassal, formerly an investment banker with HSBC, KPMG and UBS, and by Theofanis Nakos, a fixed income sales specialist.
It appears as though the m4markets.com website will continue to operate as a Seychelles offshore broker, while the CySEC-licensed entity will run m4markets.eu, for clients in the EU region.
M4Markets announced back in May that it had raised “significant capital” from Cyprus and Dubai based investors, but did not provide more specifics.
Speaking about the new license and acquisition, M4Markets Group CEO Panikos Teklos commented:
“M4Markets has grown significantly over the past two years and strategically it was the logical next step for us to penetrate the European market as a lot of the European traders are experienced and as passionate about trading as we are. We are committed to maintaining the same level of client service that has helped set M4Markets apart and we will continue to improve our offering to meet the needs of our traders.”
M4Markets Group CMO Marilena Iakovou added:
“When we started M4Markets we faced a lot of challenges, it was in the midst of the pandemic, the industry was saturated from competition and against all odds, we’ve managed to position ourselves as one of the most trusted brokers in the industry. The background of the founders of M4Markets is in investment banking and professional advisory services and we have tried to maintain that level of quality and commitment throughout our services to European traders.”