Cresco Capital Markets Garners FCA License in Bid to Grow UK Footprint

Boutique brokerage Cresco Capital Markets (UK) Limited has garnered a license to operate in the UK from the country's Financial Conduct Authority (FCA). The development is a keystroke for Cresco that had been looking to grow its UK operations and strengthen its market presence in the country.

The company trades under the brand CrescoFX, which is an offshoot of Cresco Capital Markets (UK) Limited and part of the broader Cresco Group. The group has been licensed in Malta since 2013, with its foray into the UK market representing its largest move to date in growing its client base.

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Strategic focus

The new license follows on the heels of its strategic shift earlier this year, which saw the group relocate its headquarters to London. Indeed, “after moving our headquarters to London earlier this year, this was the natural step in the growth of our global trading services, so we are pleased to announce that Cresco is now a FCA-regulated broker,” explained Cresco founder Derek Mayne.

Per the new license, UK traders will gain access to Cresco’s online trading platforms, including MetaTrader 4 (MT4) MetaTrader 4 (MT4) MetaTrader 4 (MT4) functions as a comprehensive platform for trading foreign exchange (FX), analyzing financial markets, and using expert advisors. Despite the emergence and adoption of the newer MT5 variant, MT4 has remained the dominant and de-facto platform utilized by brokers since its release by MetaQuotes Software since 2005.MT4 is widely used in the online retail foreign exchange space by traders. The software is licensed to FXbrokers who provide the software to their clients and consists MetaTrader 4 (MT4) functions as a comprehensive platform for trading foreign exchange (FX), analyzing financial markets, and using expert advisors. Despite the emergence and adoption of the newer MT5 variant, MT4 has remained the dominant and de-facto platform utilized by brokers since its release by MetaQuotes Software since 2005.MT4 is widely used in the online retail foreign exchange space by traders. The software is licensed to FXbrokers who provide the software to their clients and consists Read this Term) and Cresco Trader – this includes the possibility to trade with a FIX API. Additionally, UK clients can choose between Standard, Gold, Platinum, and VIP accounts on Cresco’s trading portal.

Furthermore, clients will also be able to tap into asset manager services via CrescoVIP, offered through sister company and Bermuda-domiciled, CrescoCap. According to Mr. Mayne: “As a boutique Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term broker committed to best-in-class customer service, we knew London was the ideal location for our headquarters and continued trading growth."

As one of the largest and most developed industries globally, procuring an FCA license is a big step for Cresco, who will gain access to its largest trading base yet. “We look forward to providing more clients with cutting-edge services and multi-asset trading from a single account,” explained Mr. Mayne.