FxPro transfers Cyprus client book to Capital.com

FxPro has agreed to transfer the client book of its Cyprus-regulated entity to Capital.com.

The broker said the move is part of a wider shift in how it is allocating resources across the business. According to Chief Operating Officer Peter Aust, the company is focusing more closely on the markets that are delivering the strongest results.

FxPro said its Cyprus operations were important in helping it build its European presence after receiving its Cyprus Investment Firm licence in 2007. However, the business now represents a relatively small part of the group's overall operations.

The company said most of its recent growth has come from markets outside the European Union. As a result, it plans to direct more investment, innovation and resources towards those regions.

FxPro said the transaction should not be seen as a reduction in its ambitions. Instead, it reflects a decision to reallocate capital towards areas where it sees greater growth opportunities.

The broker will continue to operate as a globally regulated business. It will keep licences in key jurisdictions including the United Kingdom, the Bahamas and the Seychelles.

FxPro also said the sale of the Cyprus client portfolio will not affect its wider operations or its commitment to serving clients in international markets.

Importantly, the company will retain its FCA licence and keep its headquarters in the City of London. The move underlines its ongoing commitment to the UK market and one of the world's leading financial centres.

The transaction reflects a wider trend in financial services, with firms reviewing their structures to better match changing revenue streams, client demand and regional growth patterns.

What this means for hiring. The story points to continued investment and business focus in international markets outside the European Union. It may be most relevant for roles linked to growth, operations and business development in those regions, while FxPro's wider operations, FCA licence and London headquarters remain unchanged.