LeapRate Exclusive… LeapRate has learned that London based spreadbetting and CFDs broker Capital Index has made an application to voluntarily give up its CySEC CIF license.
The company had first received its CySEC license in 2014, and soon after the company expanded to the UK with an FCA license in 2015. Apparently with the FCA license (recently upgraded to 730K) in tow the company decided that it no longer needs the expense of ‘another’ EU license, especially with Capital Index doing fairly little business in continental Europe. We’d note that for FCA licensed brokers looking to do business in the EU going forward, they do face the potential end of EU-UK MiFID passporting which might make FCA licenses good for the UK only as of March 2019.
Jo Page
Separately, LeapRate has learned that Capital Index’s longtime COO Jo Page has resigned from the company. Ms. Page had been with Capital Index since its inception in 2014, joining the then-startup broker after spending seven years at ETX Capital, including stints as Chief Administrative Officer and CEO of ETX Capital Gibraltar. She had also previously worked at City Index and Marex Spectron.
We have learned from a senior company source that Jo Page’s departure was amicable, and that she has left ‘the business’.
Capital Index is owned by author and self proclaimed Master Trader Greg Secker. As was also exclusively reported by LeapRate, Mr. Secker hired former Destek Markets CEO Matthew Wright to run Capital Index late last year, replacing co-founder Rob Woolfe. Rob Woolfe is now CEO of GKFX. Prior to Destek, Matthew Wright was COO of the UK arm of Gain Capital Holdings Inc (NYSE:GCAP) for eight years.
In its most recently reported fiscal year (2017), Capital Index brought in Revenues of £4.1 million, and held Client Funds totaling £7.4 million.