Forex

Brokers News

AvaTrade breaks acquisition by Playtech after Plus500 deal gets called off

The shareholders of Irish regulated forex broker AvaTrade have terminated a share purchase agreement with gambling platform developer Playtech, under which Playtech would acquire the broker, the developing company said on Monday.

 

Earlier on Monday, Playtech announced it has called off the proposed acquisition of Plus 500, another forex broker, due to its concerns that it is unable to meet the requirements of the UK’s Financial Conduct Authority (FCA). Despite having the nod of the Cyprus Securities and Exchange Commission (CySEC) for the acquisition of Plus500’s share capital, Playtech also needed to acquire the FCA’s approval, but this had to happen before the end of 2015, since as part of the deal, the acquisition may be terminated if it is not finalized by the end of this year. The company said that the news may increase the risk that the owners of AvaTrade may exercise their right to trigger the termination of the merger agreement.

 

In October, the Central Bank of Ireland (CBI) opposed Platech’s acquisition of AvaTrade and triggered a termination right for the sellers of the broker. It entered in July in a $105 million agreement to acquire Ava Trade through its subsidiary TradeFX, which it acquired earlier this year.

 

Playtech said it nevertheless intends to continue to appeal the CBI's decision to oppose its application to acquire Ava Trade.

 

The company added it will not incur any financial penalties other than forfeiting the previously announced $5 million non-refundable deposit already paid by Playtech on the signing of the acquisition.

 

The gambling software developer also owns two other brokers - Markets.com and TopOption.

 

Ava Trade, headquartered in Dublin, has regional offices and sales centers in Paris, Dublin, Milan, Tokyo and Sydney.

 

TAGS: playtech  avatrade  acquisition  plus500 

More news about AvaTrade

Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
UK, Australia FCA, ASIC MT4, Web,
Mirror Trader,
Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5,
cTrader,
SuperTrader,
FxPro Markets
$100 Review Website
Cyprus CySEC MT4, MT5,
cTrader
$300 Review Website
Belize IFSC MT4, MT5 $100 Review Website
UK, Cyprus, Bulgaria FCA, CySec, FSC Web $150 Review Website
Seychelles FinaCom MT4 $10 Review Website
Belize IFSC MT4, Web $500 Review Website
Cyprus CySEC MT4, Web $25 Review Website
Belize IFSC MT4, MT5, Web $1 Review Website
Cyprus CySec MT4, Web, Gwasy $100 Review Website

More Forex Brokers News

FXTM becomes a sponsor of rookie IndyCar driver Ed Jones

May 26 2017 12:42:01

Unlike most forex and binary options brokers that ink sponsorship deals with football teams, FXTM is into more adrenaline-driven sports. The broker today announced yet another sponsorship agreement– with rookie IndyCar driver Ed Jones. Read more

FXChoice comes up with a new loyalty programme, Pips+

May 25 2017 07:13:15

As a part of its continuous effort to update its services and offer better trading conditions, forex broker FXChoice launches of Pips+, its new loyalty programme. Pips+ is designed to reward the most active traders by reducing their trading costs up to $1.5 per standard lot on EUR/USD. Read more

ThinkMarkets buys mobile app Trade Interceptor

May 23 2017 11:21:40

Leading global brokerage ThinkMarkets announced on Tuesday it has acquired Trade Interceptor, which currently is one the world’s fastest growing mobile trading apps. Read more

Forex

Spain’s CNMV warns against non-regulated TradeV, among other brokerages

May 22 2017 14:30:34

Spain’s financial watchdog, the Comision Nacional del Mercado de Valores (CNMV), has issued warnings against TradeV (tradev.com), and several other unregulated forex and binary options brokers. Namely, these are TorOption (toroption.com), OptionCM (option-cm.com), 53Option (53option. Read more

Forex.com to launch affiliate program

May 17 2017 07:51:31

Gain Capital, the largest forex broker on the US market, announced the launch of new affiliate program, called GAIN Affiliates. This is a performance based program offered to affiliate partners of multiple retail trading brands of Gain Capital - CityIndex & Finspreads first, and Forex. Read more

Global Brokerage announces poor financial metrics for Q1, will probably delist from the Nasdaq

May 16 2017 08:01:39

Global Brokerage, Inc. (formerly FXCM Inc.) released on Tuesday poor financial metrics for Q1 of 2017, which are hardly surprising after the company’s dramatic exit from the US market. Read more

Windsor Brokers adds CFDs on currencies and metals to product portfolio

May 15 2017 11:53:07

Windsor Brokers, a Cyprus-regulated forex and CFD broker, announced previous week that it launches CFDs on currency futures and metals to its MetaTrader 4 account. Read more

IG starts offering retail IPOs on investment platform

May 04 2017 13:40:53

IG, one of the largest forex, CFD and spread betting (UK only) brokers said it starts offering retail IPOs on its Investment Platform. Read more

IG changes margin requirements, tiering structure

May 03 2017 08:37:26

IG, one of the largest forex, CFD and spread betting (UK only) brokers, informed its clients that it is lowering the margin requirements on some of the tradable instruments in its portfolio – the Japan 225 index, spot gold and some forex pairs. Read more

easyMarkets’ proprietary platform now available as mobile app

Apr 26 2017 13:57:53

As trading on the go becomes increasingly popular among traders, easyMarkets, a global forex broker regulated in Cyprus and Australia, announced the launch of its new mobile app on Wednesday. Read more

Forex