FxPro Group has acquired spot FX aggregator Quotix in a move that gives the company full control over the provision of its FX liquidity and allows it to provide more institutional-focused services.
The new venture combines FxPro’s knowledge of the retail FX market with Quotix’s technology, improving trade execution and speed and overall liquidity and pricing for its clients trading on either the MT4 or cTrader platforms.
FxPro will now be able to offer spot FX aggregation and liquidity, as well as prime brokerage services, to institutional clients and other brokers.
“As we continue to grow exponentially across the globe, liquidity is critical to ensuring we can provide the best spot FX prices for our clients. This new acquisition allows FxPro to diversify and opens more doors as we start to offer prime-of-prime, aggregation and liquidity services. Above all it will mean improved pricing for clients. We currently have twelve liquidity providers and are aiming to increase this number. By acquiring Quotix we will also be in a stronger position to work more closely with our existing liquidity providers and bring on new ones,” says Charalambos Psimolophitis, chief executive at FxPro.
“Being acquired by the one of the world’s biggest online FX brokers is an exciting strategic move for Quotix. There are obvious synergies to be had, such as the ability to share FxPro’s considerable technical resources, which will help us to grow into new markets,” says Evgeny Sorokin, chief executive at Quotix.