FNG has learned that social trading focused online broker NAGA Group AG (ETR:N4G) has taken the next step in expanding its global footprint, acquiring FCA licensed broker Trade Capital UK (TCUK) Ltd.

Trade Capital UK (TCUK) Ltd was part of Mark Lauterstein’s TRADE.com Retail FX and CFDs brokerage brand business, which also operates a CySEC-licensed operation under Cyprus based company Trade Capital Markets (TCM) Ltd, and an offshore Mauritius domiciled arm Lead Capital Global Ltd.

We understand that the sale of Trade Capital UK (TCUK) Ltd to NAGA Group (via holding company Key Way Group Limited) is still pending regulatory approval.

Trade Capital UK (TCUK) Ltd, which has operated until now via the tradecapitaluk.com and trade.com websites, did just £310K in Revenues in 2024, down by 65% from the previous year, and posted a net loss of £346K. As at 31 December 2024, the total assets of the Company were £483K (2023: £699K) and its net assets were £448K (2023: £634K). The company was originally incorporated on 4 September 2014 and received its FCA license on 17 January 2017.

Last year NAGA Group merged with CAPEX.com, and was effectively taken over by CAPEX.com majority owner Octavian Patrascu. The combined group, once the Trade Capital UK (TCUK) Ltd acquisition closes, will hold regulatory licenses in Cyprus (and thereby throughout the EU via MiFID), the UK, and Seychelles.