LONDON, September 28, 2017 /PRNewswire/ --
Tickmill Group, which consists of a UK FCA and a Seychelles FSA regulated entities, announced that it has completed the acquisition of a majority stake in Vipro Markets Limited, a CySEC-regulated investment firm.
Founded in 2015, Vipro Markets, is a client-centric brokerage firm that has distinguished itself among European FX and CFD brokers by providing top-notch trading services with low average spreads and commissions and ultra-fast execution. In 2016, the company experienced significant market expansion and growth in all financial metrics.
The acquisition strengthens Tickmill's ability to bring its high-quality brokerage services much faster to some of the largest European markets where Vipro Markets has already a meaningful market share and possesses experienced staff which can serve clients in many local languages. As part of the acquisition, Tickmill injected $2.20 million into the share capital of Vipro Markets, giving the company a strong capital base to facilitate its future growth.
With Tickmill having posted record audited financial results for 2016 with audited net profit amounting to $6.27 million and trading volume at $473 billion, its strong capital base and global reach will enable Vipro Markets to grow its business much faster under the Tickmill brand and also expand its product offering to existing clients.
Tickmill Group's CEO, Mr. Duncan Anderson, commented: "This is an exciting new chapter for Tickmill and one that will open up many opportunities to create extra value for clients of both of the companies. Tickmill has become a globally recognised broker among smart algorithmic traders and I am confident that the existing clients of Vipro Markets will very much appreciate being part of a bigger and stronger Tickmill Group which will deliver new products and services at a much faster pace under our regulated entities in the United Kingdom, Cyprus and Seychelles."
Vipro Markets' CEO, Mr. Valerijus Ovsianikas, commented: "We are extremely excited about becoming part of the Tickmill Group. We have had a positive cooperation with Tickmill before and combining the deep expertise and skillset of both firms is a very logical and mutually beneficial step forward. Tickmill's clients-first approach coupled with its outstanding reputation within the algorithmic trading community aligns perfectly with what we do, who we are and what we have always sought to deliver to our clients."
While both companies are working closely to ensure smooth integration on their operations, Tickmill and Vipro Markets clients' trading businesses will operate as usual, that is, their trading experience will remain unaffected during the integration process. In line with their commitment to openness and transparency, the management of both companies will provide clients with timely and comprehensive information once further actions are taken.
Tickmill's acquisition of Vipro Markets paves the way for an even stronger Tickmill Group, able to raise the bar higher and thrive in the ever-demanding forex market.
Tickmill is a Forex and CFD trading services provider, authorised and regulated in the United Kingdom by the Financial Conduct Authority and in the Seychelles by the Financial Services Authority. Tickmill offers first-class trading products with some of the most competitive conditions in the industry.
About Vipro Markets
Vipro Markets is a forex broker providing retail and institutional Clients with access to various markets including Forex, stock indices, commodities, bonds and precious metals. http://www.vipromarkets.com.
Trading CFDs can involve losses that exceed the initial investment.