Ec Markets Group Gains Membership on London Stock Exchange

<p>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.</p><p>Ec
Markets at LSEG: Expanding Presence in Global Financial Markets </p><p>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.</p><p>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."</p><p>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.</p><p>Ec Markets Group's
FCA License and Offered Instruments</p><p>In
a report at <a href="https://www.financemagnates.com/">Finance Magnates</a>
earlier, it was stated that <a href="https://www.financemagnates.com/forex/gcm-prime-returns-as-ec-markets-generates-187k-turnover-in-2022/">Ec
Markets Group Limited, formerly known as GCM Prime</a>, resumed its operations
in 2022, reporting an annual turnover of $187,000 by the end of December. </p><p>Despite
this, the London-based brokerage remained in the red, with an operating loss of
$660,140, though it showed improvement compared to the previous year's loss of
$779,996. The company incurred a gross loss due to sales costs of $191,207, and
administrative expenses of $656,433 were higher than the prior year's $643,372,
resulting in an overall net loss of $659,579. It also generated a minimal
interest income of $565.</p><p>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 <a href="https://www.financemagnates.com/tag/forex/">forex</a>.</p><p>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 <a href="https://www.financemagnates.com/tag/cryptocurrency/">cryptocurrency</a>
CFDs.</p><p>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 <a href="https://www.financemagnates.com/tag/gcm-prime/">GCM Prime</a> were
later acquired by Chinese entrepreneur Xiaoliang Lyu, leading to its rebranding
as Ec Markets Group Limited.</p>

This article was written by Tareq Sikder at www.financemagnates.com.