31 December, AtoZForex.com, Amsterdam — Fortress Prime, a part of Dubai headquartered Fortress Capital Investments has announced their exciting plan to get the UK Banking Regulation License from the Financial Conduct Authority (FCA). Fortress Prime is one of the leading clearing houses, providing liquidity for vast number of financial products including but not limited to Forex, Commodities, Indices, CFDs and much more.
Fortress Prime FCA license application comes in a period when the demand for FCA license has been growing. The FCA’s reputation as a solid and highly reputable regulatory body makes its license highly sought after. On top of this fact, the region of London and the UK, remains in general a top financial centre for abroad financial firms. Hence, the FCA supervisory activities is already hitting the mark of over 50,000 financial firms in its jurisdiction.
Becoming a global FX provider
The CEO of Fortress Prime, Mitch Eaglstein has commented on Fortress Prime FCA license application as follow:
“This is a critical step in becoming a true global Forex provider as FCA regulations will allow us to provide prime brokerage services to institutional clients in Europe and other mature markets across the globe” and “a local team will be hired that will conduct our prime brokerage services in the UK. The Forex landscape is changing rapidly due recent increase in volatility and constant evolution in clients’ expectations. Fortress Prime is seeing substantial demand for gold and silver spot trading.”
Fortress Prime is currently expanding rapidly in Middle East offering Sharia accounts which is a must have according to the region’s law, culture and most definitely religious views. AtoZForex.com team will be in contact with Fortress Prime to get detailed information on Financial Conduct Authority’s approval, timeline and further opportunities for our readers.
Think we missed something? Let us know down in the comments section.