Exclusive: LCG loss ballooned to £6M in 2023 following move to Introducer model
The LCG board reports that the Introducing Broker business has accelerated during 2024, and will allow LCG to show a profit for H2 2024.
FlowBank is an online banking and trading firm, located in Geneva, Switzerland. The company was founded by former London Capital Group (LCG) controlling shareholder and CEO Charles-Henri Sabet in 2020, backed by a number of his former LCG colleagues and several former executives from Swissquote.
Licensed as a Swiss Bank, FlowBank offers both online banking services as well as trading in a variety of domestic and international stocks, ETFs, forex pairs, CFDs, bonds, options, futures, as well as cryptocurrencies.
FlowBank selected the Temenos Transact SaaS online banking and trading platform as the technology basis for its Swiss digital bank. Temenos Transact will allow Flowbank’s customers to trade from a single multi-currency bank account and access more than 50 financial markets.
The LCG board reports that the Introducing Broker business has accelerated during 2024, and will allow LCG to show a profit for H2 2024.
Walder Wyss is still seeking a potential buyer for London Capital Group (LCG).
Once a client’s positions have been sold in full, the cash will be transferred to their bank account, in EUR or CHF.
FNG Exclusive… FNG has learned that the liquidators of bankrupt Swiss neobroker FlowBank have issued an updated circular to creditors, […]
CoinShares, a European investment company specialising in digital assets, has today published its results for the quarter ending June 30, 2024.
The halt in operations at LCG last month occurred in the aftermath of the bankruptcy of the company’s parent FlowBank in Switzerland.
The appointment of the Liquidators has currently made it impossible for LCG Capital Markets Limited to carry out its operations.
LCG is owned by Switzerland based neobroker / neobank FlowBank SA, which is now in bankruptcy and liquidation.
FlowBank’s controlling shareholders have engaged the services of Thomas Borer, a former Ambassador of Switzerland to Germany.
CoinShares has revealed a FlowBank investment impairment charge of £21.8 million.