Traders
from the UK who wish to open an account with the broker Capital.com may
encounter a problem. The company’s official website offering FX/CFD
trading informs that “for now” it has suspended the registration of
new clients under the Capital Com (UK) Limited entity.
The broker
did not provide specific reasons for the decision, but according to the UK’s
Financial Conduct Authority (FCA ) register, through which the company has been
authorized since 2018, the license remains active.
When
visiting the Capital.com website in the UK and attempting to open an account,
users are greeted with a message stating that the company “have made the
decision to pause onboarding new clients in the UK for now.”
“We
have grown rapidly as a business, and we want to make sure that all our
systems, controls, products, and services are provided to the high standards
that are demanded by our clients, management, shareholders, and
regulators,” the statement further reads.
The broker
did not provide any detailed information explaining the reasons behind this
decision or when it plans to restore the ability to register new accounts.
Existing UK clients can still access their accounts and trade normally.
According
to the FCA register, Capital Com (UK) Limited still holds an active license,
which was granted in 2018.
Source: FCA
Capital.com’s Financial
Condition
The most
recent financial report published by the UK branch of the broker was released
in September 2023 and covered the fiscal year 2022. The company earned £4.13
million, achieving a revenue of £29.11 million, doubling the results from the
previous year.
In summary,
2022 marked a prosperous period for Capital.com under the leadership of its new
CEO, Peter Hetherington. He stepped into this role in May, succeeding Jon
Squires. Hetherington brought with him over three years of experience as the
CEO of IG Group, a London-based broker that is listed on the stock exchange .
Traders
from the UK who wish to open an account with the broker Capital.com may
encounter a problem. The company’s official website offering FX/CFD
trading informs that “for now” it has suspended the registration of
new clients under the Capital Com (UK) Limited entity.
The broker
did not provide specific reasons for the decision, but according to the UK’s
Financial Conduct Authority (FCA ) register, through which the company has been
authorized since 2018, the license remains active.
When
visiting the Capital.com website in the UK and attempting to open an account,
users are greeted with a message stating that the company “have made the
decision to pause onboarding new clients in the UK for now.”
“We
have grown rapidly as a business, and we want to make sure that all our
systems, controls, products, and services are provided to the high standards
that are demanded by our clients, management, shareholders, and
regulators,” the statement further reads.
The broker
did not provide any detailed information explaining the reasons behind this
decision or when it plans to restore the ability to register new accounts.
Existing UK clients can still access their accounts and trade normally.
According
to the FCA register, Capital Com (UK) Limited still holds an active license,
which was granted in 2018.
Source: FCA
Capital.com’s Financial
Condition
The most
recent financial report published by the UK branch of the broker was released
in September 2023 and covered the fiscal year 2022. The company earned £4.13
million, achieving a revenue of £29.11 million, doubling the results from the
previous year.
In summary,
2022 marked a prosperous period for Capital.com under the leadership of its new
CEO, Peter Hetherington. He stepped into this role in May, succeeding Jon
Squires. Hetherington brought with him over three years of experience as the
CEO of IG Group, a London-based broker that is listed on the stock exchange .
