Pepperstone suspends trade in the UK

Australian retail broker, Pepperstone headquartered in Melbourne, decided to suspend trading for its customers at the British subsidiary Pepperstone Limited. In September last year, Pepperstone was entered into the register of brokers The Financial Conduct Authorityand a year earlier, he acquired a local retail broker called 123FX.com - a project that never saw the light of day. Currently, www.123FX.com leads to the Pepperstone website. Last year, one of the leading Australian private equity funds, Champ Private Equity, invested several million dollars in the development of this broker. At the same time, it was announced that expansion into the European market was planned.

Why the turnover was suspended

The company informs that it is at the stage of introducing key changes in the structure and management processes in the British office. Due to the FCA regulations to which the broker is subject, in such a situation it is forced to completely suspend trading options for its clients until the implementation of all changes is completed. The broker does not say how long this state of affairs may take. Clients were informed to close the currently open positions manually by March 9, 2017, 18 p.m. Polish time. Otherwise they will be closed automatically.

Pepperstone has been on the market since the 2010 year and currently has offices in 5 countries:

• Melbourne, Australia
• Bangkok, Thailand
• Dallas, USA
• London, Great Britain
• Shanghai, China