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CMS Forex launches the long anticipated UK subsidiary

Aug
31
2009
Posted by Michael Greenberg in Brokers
6 Comments

I reported about this intention almost three months ago and now CMS finally made the step. CMS is the latest broker to open a UK subsidiary following FXCM, Gain and lately FX Solutions.

This should allow CMS to offer additional products and trading capabilities, which are not allowed in the US, to its retail and institutional clients.

This is the press release as was sent to CMS’s clients.

cmsfx_uk_opening_logo_1

cmsfx_uk_opening_banner_2

Dear Trader,

CMS Forex is pleased to announce the launch of CMS Forex UK, our FSA registered affiliate located in London, England.

Clients can trade on CMS Forex’s advanced proprietary platform, VT Trader, which features over 100 indicators, integrated pattern recognition technology, Dow Jones news, competitive spreads, and up to 10 lot auto-execution*. Alternatively, clients can choose to use their own auto-trading systems, or Expert Advisors, on the popular MetaTrader 4 platform.

In addition, with a CMS Forex UK account, you’ll have access to a number of unique features not offered at CMS Forex, including:

Up to 400:1 leverage†

Ability to hedge trades

Stop and Limit orders on individual positions

Open a CMS Forex UK account and deposit at least $200 USD between now and September 30th and you’ll receive an immediate $50 Balance Booster! Our user-friendly live account application consists of 5 easy steps and can be completed in just 10 minutes. Once your deposit has been received, this bonus will be immediately added to your live trading account.

To open an account and get your Balance Booster, click the button below.

CMS Forex UK is available to serve our global client base and as an FSA registered financial services company, will welcome clients from any country that are authorized to conduct business in the United Kingdom.

To learn more about CMS Forex UK, click here.

Sincerely,

The CMS Forex UK team

†Leverage may increase both gains and losses.

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More information on this subject is found in the latest Forex Magnates Quarterly Industry Report

6 Comments on this post

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  1. Jim Hunt said:

    Hi Michael,

    Interesting news as always! One big name you left off your list of UK players. GFT UK started up in June 2006.

    Jim

    August 31st, 2009 at 7:59 am
  2. Michael Greenberg said:

    Hi Jim,

    Thanks for the comment. You are right about GFT, but this list was compiled regarding brokers who made the change following the US regulatory fiasco (also called NFA’s FIFO rules)..

    Michael

    August 31st, 2009 at 8:49 am
  3. Jim Hunt said:

    Good point. Which maybe raises the question of why GFT didn’t join some of the others on your list by going on a marketing spree telling all and sundry about the joys of “hedging” using large leverage with MT4 in the UK?

    Maybe GFT figure that particular bandwagon is best avoided for some reason?

    Jim

    August 31st, 2009 at 11:51 am
  4. Damien Francis said:

    Hello,

    I run CMS Forex UK.

    The decision to open the UK office was a strategic one. Put simply, we are able to offer a wider range of products (CFDs, spreadbetting, commodities etc) to clients globally, than can be offered by brokers in the USA. My focus is on building a successful FSA regulated business that stands on its own two feet.

    The amount of investment made in setting up a new office would not be justified if it were just to offer hedging etc to existing US clients. I would imagine the same applies to all other brokers.

    Damien

    September 2nd, 2009 at 8:22 am
  5. Jim Hunt said:

    Hi Damien,

    Forgive me for harping on about “hedging” etc. You must admit though that it’s an easy mistake to make. After all your banner reproduced above does mention ability to hedge, 400:1 leverage and MetaTrader, but doesn’t mention CFDs, spreadbetting or commodities.

    As a UK resident myself I’m very interested to learn that CMS will be offering spreadbet accounts in the UK. When do you suppose I will be able to open one, and how aggressively will you be going after market share?

    Jim

    September 2nd, 2009 at 6:04 pm
  6. Damien Francis said:

    Hi Jim

    It’s early days as we’ve just got our FSA licence through. Our immediate focus will be on providing an excellent, flexible FX service. But at some stage (I can’t reveal when or how as that’s competitive info) we will be going aggressively after market share in the UK.

    The UK is getting quite crowded with lots of similar “me too” offerings from brokers. Our aim will be to offer something different to customers but this will take a little time to craft and build. Sorry I can’t be more specific at this stage…..you’ll understand I don’t want to publicise our plans to the competition just yet!

    Damien

    September 3rd, 2009 at 4:38 am
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