CXM Prime, led by Ashraf Agha, debuts as a liquidity provider with an FCA license

According to a press release from the CXM group of companies, a recently formed UK subsidiary called CXM Prime Ltd has been granted FCA authorization and will begin operations in 2023.

The business was founded in May 2021, and on December 20, 2022, it was granted an FCA license. Although it is permitted to manage client funds, it is not permitted to keep client funds. CXM Prime was introduced by the group with a £1.2 million starting budget.

Ashraf Agha, a veteran of the FX market, will lead CXM Prime as CEO from London. Mr. Agha worked as the head of the treasury at Saxo Bank from 2000 to 2008, the head of operations at CFH Markets from 2008 to 2010, and the chief operating officer of Marex Spectron’s foreign exchange division from 2011 to 2014. He most recently served as a board member and advisor at the RegTech company Muinmos.

Peter Wilson, who has previously held compliance positions at ATFX, Capital Index, IKON Finance, ICM Capital, and Finotec, is also joining CXM Prime as Head of Compliance.

CXM Prime, which has its headquarters in London and operates the website, aims to provide its customers with a premium trading and liquidity experience. Rolling Spot and CFD liquidity will be solely non-advised and available to Per Se Professional and Eligible Counterparty clients in the UK, EU, and internationally. CXM Prime Ltd will offer leveraged FX and CFD liquidity solutions.

Regarding the new business, Ashraf Agha said:

“This is an exciting opportunity intersecting top liquidity and prime providers. I relish the opportunity to expand the geographical reach of CXM Prime and bring our industry expertise to clients in the UK and overseas. We have operated with an innovative, tailored approach from inception, with a focus on deep liquidity, and solutions for our clients’ needs. Through maintaining high regulatory standards, we shall maintain this trajectory.”

The CXM group also runs the Mauritius and St. Vincent based offshore Retail FX and CFDs Broker CXM Direct LLC, which is mostly operated out of Malaysia.

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