Only days after launching its own proprietary browser-based trading platform that allows clients to trade using their MT4 accounts, in late August, award winning forex trading provider FXPro has announced that it has acquired spot FX aggregator Quotix. According to an official press release this a move that gives the company full control over the provision of its FX liquidity and allows it to provide more institutional-focused services.
It is also anticipated that the combination of FxPro’s deep and detailed knowledge of the retail FX market and Quotix’s technology, will result in improved trade execution and speed, while also at the same time improving and enhancing the overall liquidity and pricing for those FXPro clients trading on either the MT4 or cTrader platforms.
The acquisition of Quotix signifies FxPro’s first purchase of a technology provider and according to company sources it is indicative of their dedication to invest in innovative new technologies aiming to improve the depth of its liquidity. Moreover, the move is also described as another step towards FxPro becoming an all-in-one FX provider as they will now be able to offer spot FX aggregation and liquidity, as well as prime brokerage services to institutional clients and other brokers.
The CEO of Quotix Evgeny Sorokin, highlighted the “obvious synergies to be had, such as the ability to share FxPro’s considerable technical resources, which will help us to grow into new markets,” while the CEO of FXPro Charalambos Psimolofitis commented that: “As we continue to grow exponentially across the globe, liquidity is critical to ensuring we can provide the best spot FX prices for our clients. This new acquisition allows FxPro to diversify and opens more doors as we start to offer prime-of-prime, aggregation and liquidity services. Above all it will mean improved pricing for clients. We currently have twelve liquidity providers and are aiming to increase this number. By acquiring Quotix we will also be in a stronger position to work more closely with our existing liquidity providers and bring on new ones.”
It also appears that the FxPro Group Ltd (FxPro) is constantly seeking ways to expand and improve its offering as it strives to consolidate and maintain its global position in the industry. It is also reminded that in July FXPro was voted the Best FX Provider at the Online Personal Wealth Awards in recognition of its efforts to assist traders in becoming more profitable.
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.