FxPro, a prominent currency trading platform headquartered in Cyprus, has halted its plans for an IPO on the London Stock Exchange following the recent surprise crackdown by the Financial Conduct Authority (FCA) on spread-betting companies. The FCA, concerned about the level of financial risk for retail investors, is proposing to cap the maximum leverage at up to 10 times the original bet. Other online platforms, including CMC Markets and IG Group, are considering a move to Germany where regulatory guidelines are more lenient.
FxPro, a prominent currency trading platform headquartered in Cyprus, has halted its plans for an IPO on the London Stock Exchange following the recent surprise crackdown by the Financial Conduct Authority (FCA) on spread-betting companies. The FCA, concerned about the level of financial risk for retail investors, is proposing to cap the maximum leverage at 50 times the original bet. Other online platforms, including CMC Markets and IG Group, are considering a move to Germany where regulatory guidelines are more lenient.