Ec Markets Group Limited, a Forex and Contract for Difference (CFD) broker based in London, has achieved membership status on the London Stock Exchange (LSEG). This strategic step is poised to unlock new avenues of growth and innovation for the company.

Ec Markets at LSEG: Expanding Presence in Global Financial Markets

Known for its Forex and CFD trading, Ec Markets Group has been an active contributor to the financial sector. Joining the London Stock Exchange is expected to strengthen its visibility, credibility, and access to a broader investor base.

The CEO, Matthew Smith stated: "Becoming a member of the London Stock Exchange is a testament to our long-term goals of innovation, growth, and a relentless drive to expand our presence in financial markets worldwide."

The move is anticipated to have a positive impact on the company's growth trajectory. As a member of LSEG, Ec Markets Group Limited is strategically positioned to leverage new opportunities and contribute to London's financial hub.

Ec Markets Group's FCA License and Offered Instruments

Earlier, in a report from Finance Magnates, it was stated that Ec Markets Group Limited, formerly known as GCM Prime, resumed its operations in 2022, reporting an annual turnover of $187,000 up to the end of December.

Despite this, the London-based brokerage remained in the red, with an operating deficit of $660,140, though it showed improvement compared to the previous year's shortfall of $779,996. The company incurred a gross loss due to sales costs of $191,207. Further, administrative expenses of $656,433 were higher than the prior year's $643,372, resulting in an overall net deficiency of $659,579. It also generated a minimal interest income of $565.

Operating under an FCA license, Ec Markets offers margin spot forex and CFD instruments in precious metals, indices, and crude oil. It primarily functions as an execution-only trader brokerage of CFDs and rolling spot forex.

Beyond its UK operations, Ec Markets operates under two offshore licenses, one from the Seychelles Financial Services Authority and the other from the Mauritius Financial Services Commission. The offshore entities offer a broader range of retail-focused services, including cryptocurrency CFDs.

GCM Prime previously ceased its services in 2017 after incurring substantial losses. The brokerage's challenges were partly linked to rumors suggesting a connection to another broker, GCMFX, which had filed for bankruptcy. The assets of GCM Prime were later acquired by Chinese entrepreneur Xiaoliang Lyu, leading to its rebranding as Ec Markets Group Limited.