There’s been a development in Poland’s foreign exchange (forex) market, as one of the country’s largest brokerage houses, TMS Brokers, will be taking over Noble Securities over-the-counter forex and contracts for difference (CFD) operations.
On October 22, Noble Securities S.A. brokerage house decided to sell the part of its business that offers FX services, and from November 23, it will stop running accounts via the Noble Markets platform.
This means that TMS will be taking over the whole OTC and CFD business from Noble Securities, which has decided to let go of its FX unit in order to focus on its key business segments and develop its stock market services, including investment consulting and investment banking.
Noble clients can continue to trade FX with TMS Brokers
Under the agreement, TMS will continue to provide services to Noble’s clients that want to continue investing in the OTC and CFD markets. Existing clients will be able to join the Polish broker on the same conditions regarding forex investing.
According to the brokerage house, they will have access to their account on the MetaTrader 4 platform and will be able to choose other products from TMS’ offering, such as using Meta Trader 5 or its TMS Brokers mobile app, which it developed in-house.
Commenting on the announcement, Dominik Ucieklak, President of Noble Securities S.A said (translated): “Appreciating the trust our current clients have placed in us through the OTC / CFD market, we wanted to limit their inconvenience resulting from our business decision to end the provision of services on the forex market.
“Cooperation with TMS Brokers, interested clients, allows you to transfer open positions and continue the investment on conditions not worse than before. At present, the Management Board of Noble Securities sees better perspectives for development and generating profits in other areas of activity. “
Not only will existing clients have access to at least the same offering after the change, but the staff currently employed in Noble’s forex business will continue to work under TMS Brokers.
“We were pleased to hear that Noble Securities chose TMS Brokers as a partner to take over the organized part of the enterprise and entrusted us with continuing cooperation with clients from the OTC / CFD segment,” added Marcin Niewiadomski, President of the Management Board of TMS Brokers S.A.
“We believe that the financial services market will consolidate, we are glad that we can actively participate in this process. Thanks to this transaction, we will increase the scale, market shares and business potential of TMS Brokers. We are convinced that our offer will meet the expectations of Noble Securities clients. We will also make every effort to ensure that the customer transition process is as light as possible.”