ATFX ditches UK retail operation to start fresh with institutional FX

Rick Steves

ATFX Connect, which is expected to develop an in-house aggregator and bridge this year, serves as an automated trading venue targeted to Hedge Funds, Asset Managers and Private Banks.

ATFX has partnered with a tier 1 Prime Broker as the FCA-regulated institutional broker expands to offer direct market access to Institutional clients.

ATFX, a well-recognised FX/CFD broker with an international presence, has decided to ditch its UK retail FX operation in order to focus on the institutional brokerage business launched in 2019 with ATFX Connect, its Multi-Access professional trading platform.

ATFX Connect, which is expected to develop an in-house aggregator and bridge this year, serves as an automated trading venue targeted to Hedge Funds, Asset Managers and Private Banks.

The institutional broker has introduced an Agency Model account, in addition to Margin configuration, to accommodate clients who wish to trade FX and Precious metals without having to post margin.

Wei Qiang Zhang, Managing Director of ATFX, said: “The key to ATFX’s success will be driven by the innovation of our experienced IT department and the continued first class customer service provided by our dedicated global team. ATFX is well-positioned as a long-term fintech partner to institutional clients and the launch of the AGENCY MODEL demonstrates our commitment to constantly deliver new products that fulfil the needs of our clients.”

The Institutional platform features new order functions designed to give clients more options and flexibility when trading. ATFX Connect also provides a bridge solution for Margin clients via OZ giving them access to institutional liquidity in Spot FX, Precious metals and CFDs.

ATFX has plans to grow its market share across established jurisdictions in Europe including the UK, the Middle East, South East Asia, and Latin America.

Marc Taylor, Institutional Sales at ATFX Connect, commented: “The Agency model has further enhanced the reputation of ATFX within the Institutional market. With the addition of a Tier 1 Prime Broker, clients can now leverage our direct market access to trade on more competitive prices without having to post margin.”

ATFX UK has recently closed its Polish satellite office, according to a City A.M. report. The office had been opened in the in Q3 2020. The closure was part of the strategic decision to focus on services to professional and institutional clients under its FCA entity. “ATFX UK will therefore be ceasing – in the short term – all of its retail activities,” the spokesperson confirmed.

ATFX will maintain its other retail FX operations, ATFX CY, ATFX International and AT Global Markets.

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