Following Alpari UK insolvency after SNB Disaster early this year, ETX Capital had acquired the company's client list worth around 100 millions USD. Last week, ETX Capital announced that the acquisition was proven to be a successful deal.
Following Alpari UK insolvency after SNB Disaster early this year, ETX Capital had acquired the company's client list worth around 100 millions USD. Last week, ETX Capital announced that the acquisition was proven to be a successful deal.
Following Alpari UK client list acquisition, the UK-based forex and CFD broker offered the broken broker's clients several choices, that is to stay with the administration process or to transfer their funds to ETX Capital and subsequently receive several benefits.
According to Andrew Edwards, CEO of ETX Capital, as released in PRNewswire, These benefits included the ability to receive up to 30% of their expected balance as an advance, the chance to convert their funds (released in USD) to the currency of their choice at market rates, and spread rebates during their first month of trading. Add in the possibility of receiving a first deposit bonus for newly deposited funds, and it’s easy to see why so many former Alpari clients are now trading with ETX Capital.
For ETX Capital, it means there were over 6,000 new clients and 30 million Dollars of client funds flowed in. Previously, in 2013 the company has also successfully acquired Shelbourne markets, the second largest CFD provider in Ireland at the time. ETX Capital now is one of the leading brokers in the UK.