M4Markets, a global trading broker, has recently acquired some or all of Tixee's client assets. However, no specifics of the deal were revealed by the company.
International trading provider headquartered in Cyprus, M4Markets, has expanded its trading reach by acquiring some or all of the activities of Pipbull Limited, known as Tixee, a forex and CFD broker operating in the EU.
In this acquisition, Tixee closed its trading platform and offered clients the opportunity to transfer accounts to M4Markets. It ensures continuity of service and trade on more favorable terms.
"In light of this development, Tixee offers all its clients the opportunity to move their accounts to M4Markets. This ensures continuity of service to Tixee's customers, enabling them to trade uninterruptedly with the best trading conditions," commented Tixee in a customer support email.
According to its website, Tixee has more than 155,000 registered customers from more than 115 countries. However, the broker did not disclose the details of the deal approved by the Seychelles Financial Markets Authority. It is unclear whether M4Markets will only buy Tixee's customer books or cover the broader acquisition of assets affecting Tixee's activities in Cyprus.
Tixee Business Operations
Apart from the acquisition by the Seychelles broker, Tixee suspended the opening of new accounts on its platform, regulated by Seychelles and Cyprus. Additionally, former Tixee Chief Operating Officer Todor Georgiev left his brokerage firm to join another FX/CFD broker, FXGlobe, and other Tixee employees who have also left the company in recent months.