Rostro completes the purchase of Scope Markets and plans to expand in MENA and APAC

The change of control procedure after Rostro Financials Group’s acquisition of Retail FX broker Scope Markets last year has been finished, the company has said.

The management team of the Rostro Group has consequently taken over management of the amalgamated companies as of January 7, 2023, including the main operating hub in Cyprus and the licensed entities in Cyprus, Kenya, South Africa, and Belize. The new licenses add to those already held in Seychelles and Mauritius.

According to the new ownership group, Scope Markets is also considering expanding into the MENA and wider Asian markets in 2023 and has enlisted third parties to advance these strategic ambitions.

In order to achieve its stated corporate vision of becoming the world’s top diversified financial services group, serving retail and institutional customers around the world, Rostro Group further stated that it intended to continue with the organic growth of the expanded business and remained open to additional acquisitions.

Roger Hambury, a former executive at ACM/TradeTech (now Finalto), launched Rostro Financial in 2020 with the goal of acquiring and expanding businesses involved in retail FX, CFDs, and cryptocurrency trading. The company announced its first acquisition in early 2021 when it acquired CySEC-licensed Scope Markets. Since then, it has hired a number of (primarily) FX industry executives, including John Williams (ex-Equiti Capital) as CIO, Michael Ayres (ex-Equiti Capital COO), Mitesh Vaghela (ex-Equiti and GKFX), and Owen Purssell (ex-Equiti exec).

Rostro Group CEO Michael Ayres said,

“We are delighted to have now completed the change of control process, bringing Scope Markets under the Rostro Group umbrella. We will now be focused on leveraging the solid foundations that have been laid by an amazing team. We believe that our unique perspective and expertise will drive the company forward and bring even more value to our customers in the markets across the globe.”

Rostro Group founder Roger Hambury said,

“The completed acquisition of Scope Markets presents another step in the journey of Rostro Group. In the last 12 months we have completed on several acquisitions to drive our expansion, all funded through free cashflow. The acquisition of Scope Markets presents the largest and latest acquisition, signalling our intent to be a leading provider of financial services within our sector globally. The team and I are very excited about the future.”

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