LandFX obtains UK forex broker license

LandFX obtains UK forex broker license

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Land-FX UK Ltd., part of the LandFX brokerage group, has received a forex broker license from the UK Financial Conduct Authority, data published on the regulator’s website indicated. The license is effective from 7 June, 2016. LandFX FCA UK According to LandFX’ website, its UK unit is authorized to hold Client Money under the FCA CASS rules. As an FCA licensee, it is part of UK’s Financial Services Compensation Scheme(FSCS) and Financial Ombudsman Service(FOS) for investment protection.

A UK license provides access to the financial markets of all countries in the European Economic Area (EEA). The FCA is renowned for its strictest standards and supervision. To acquire a license from the UK financial watchdog, brokers need to provide proof of their financial stability, to meet certain criteria, and to comply with a number of strict rules and requirements. Under the local regulations, investors’ funds are kept in segregated bank accounts separated from the company’s operating funds.

Land-FX UK is associated with Land Prime, operating as LandFX,  which has a New Zealand license from the Financial Market Authority (FMA). The broker, which is mainly active in Asia, offers trading in forex and contracts for difference (CFDs) via the MetaTrader 4 (MT4), the world’s leading forex trading platform.

Source: FCA


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