CMC Markets and Revolut partner for CFD expansion, offering contracts through Revolut Invest, driving global growth strategies.
CMC Markets and Revolut partner for CFD expansion, offering contracts through Revolut Invest, driving global growth strategies.
CMC Markets has reached a key milestone in its growth trajectory with the CMC Markets Revolut CFD Expansion, a significant partnership that could set a precedent for future deals. In June 2024, CMC partnered with Revolut to offer contracts for difference (CFDs) on the fintech giant’s Revolut Invest app, initially available in three European countries, with plans to expand. Richard Elston, Group Head of Institutional Sales at CMC, highlighted the importance of technology in securing the deal.
He described the due diligence process as a collaborative effort, emphasizing the critical role of a solid technology framework: “We drew a schematic of what could work and what needed enhancement. You’ve got to have a good, solid starting point,” Elston said. Michael Bogoevski, CMC’s Head of Institutional ANZ, also shared insights, emphasizing that technological success was key to the deal moving forward.
This partnership aligns with CMC’s broader strategy of expanding its institutional business. According to Elston, CMC’s focus is shifting from its traditional B2C (business-to-consumer) model to a stronger B2B (business-to-business) focus. This transition is part of the company’s long-term goal to balance its revenue sources between institutional, premium, and retail clients.
Bogoevski echoed these sentiments, noting that institutional business could account for at least half of CMC’s revenue in the future. He stated that solving for the institutional market creates a trickle-down effect, enabling CMC to handle premium and retail clients more effectively. CMC’s recent success in the Asia-Pacific (APAC) region, particularly in Australia, supports this ambitious expansion.
The company’s net operating income in Australia surpassed its UK revenue in the fiscal year ending March 31, 2024, making APAC a critical growth area. With strong partnerships and technological advancements, CMC is well-positioned to thrive in the evolving financial landscape.
In Conclusion, CMC Markets partnered with Revolut to offer CFDs through the Revolut Invest app, expanding their reach in Europe. The deal underscores CMC’s shift toward institutional growth and advanced technology. Their success in the APAC region also highlights their global expansion strategy.
Also, Stay Updated With The Latest Broker News.
eToro is a regulated online brokerage that offers trading of a wide range of trading instruments, including over 3,000 tradeable symbols, including CFDs, forex pairs, and exchange-traded securities, which can be traded through their eToro Investment Platform.
IC Markets is a licensed forex CFD broker, extending an opportunity for day traders, scalpers, and newcomers to engage in CFD trading. They furnish their clients with state-of-the-art trading platforms, high-speed connectivity with minimal delays, and exceptional liquidity.
Vantage is a well-decorated multi-asset broker based in Sydney, boasting over ten years of profound market knowledge. Operating in 172 countries, they employ a workforce of over 1,000 professionals distributed across 30 offices all across the globe.
Please drop your email below to get daily updates about what we do
FX Broker Tester is your guide to uncovering dependable Broker partners perfectly aligned with your needs in the financial markets. Identify the ideal match by exploring the meticulous evaluation conducted by our team of seasoned analysts. Via our platform, you gain entry to comprehensive broker reviews, rankings, detailed comparisons, the latest broker news, and a calendar of worldwide Forex events.
