Alpha FX, a comprehensive provider of foreign exchange (FX) services, today announced that its wholly owned subsidiary, Alpha FX Limited, has successfully obtained a new regulatory license by the Financial Conduct Authority (FCA) in Britain.
The authorisation comes just three months after the firm began the live trading of its shares on the AIM market of the London Stock Exchange (LSE). It also marks another important step in the development of Alpha FX’s international presence and paves the way for the company’s future operational setup in the vital UK market.
The UK-based FX service provider, which manages exchange rate risk for domestic corporates, is now operating as a BIPRU investment firm with immediate effect. The group caters to a wide range of clients, including medium sized corporates that deal with currency conversion, international commerce, and payrolls.
According to the company statement, its new status as a BIPRU investment firm will enable it to offer currency swaps and options to its clients, in addition to its existing products and services.
The BIPRU investment registration is the third regulatory authorisation that Alpha FX Limited has applied for and obtained in order to build up and expand its global business. The company is licensed by the FCA as an authorised payment institution, and is also registered with HM Revenue and Customs as a money services business.