Financial services firm Deltastock AD has announced that it shuts down its UK subsidiary company in liquidation, Delta Financial Markets Ltd.
15 September 2020 | AtoZ Markets – Deltastock AD is a retail brokerage group that offers trading services in Forex, equities, cryptocurrencies, and commodities. The group is founded in 1998 and headquartered in Sofia, Bulgaria. It is also a member of the ESMA (European Securities and Markets Authority) and the Financial Supervisory Commission (FSC). It provides services across many countries around the world.
Delta Financial Markets Closes in the UK
Deltastock AD has shut down its UK subsidiary company in liquidation, Delta Financial Markets Ltd. The company hasn’t disclosed the reason behind this initiative. UK Delta Financial has been holding an FCA license since 2011. However, as of January 2020, it gave up its FCA license.
So, the UK and EU are currently in the Brexit transition period ending on December 31, 2020. After Post Brexit, companies holding EU licenses will no longer be able to serve in the UK or UK-based retail customers.
According to the FCA Financial Services Register, the details of the Delta Financial Markets are as follows:
- Firm Reference Number: 534027
- Address: 3rd Floor, Fairgate House, 78 New Oxford Street, London WC1A 1HB
- Telephone: 020 3866 9652
- Email: email@example.com
- Website: www.dfmarkets.co.uk
The URL of UK Delta Financial is now redirected to deltastock.com, the website of Deltastock AD. Moreover, Vladimir Kisyov, a UK Delta Financial compliance officer, has resigned. He was working with UK Delta Financial since 2004.
UK subsidiary company was facing a steep decline in client funds from 2017. The client funds of UK Delta Financial was £6.82 million in 2016. However, the figure was down from £4.06 million in 2017 and £2.85 million in 2018.
Moreover, in the fiscal year 2018, Delta Financial Markets Limited reported £ 747,034 revenue, which was down from a £ 2.65 million revenue in 2017. Due to the decline in the UK Delta business and revenue, it might lead to shut down and denounce the UK FCA license.
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