Speakers Corner Is London dead? ANONYMOUS I am probably going to come into some flak here for not following Boris Johnson’s example of wrapping myself in the flag, along with jingoistically talking up the country and city that I work in. My reason for this is, over the last several years a constant thought has been on my mind when I think of our industry in London, namely how much longer can the London retail market sustain itself? Now before anyone starts frothing at the mouth, let me explain my thought process. I do not mean the long established spread betting companies that also added on a metaquotes solution to their service. These can no doubt be classified as world leading in their field, having been developed in the halcyon days of the city. Further to this, they have developed their own world leading software which has no doubt led to them being leaders in the spread betting market. However, what about the next two levels of retail FX shops, such as the start up and the brand that is around for say five years.
My way of logic extended to looking at the standard MT4/5 brokerage that as a brand was started here, not the brands from far off shores who obtained an FCA license to operate in the city. Having seen how these often operate, they appear to have the standard FX consultant who talked the owner into getting a UK license and installing him as the CEO. More often than not, they often implement their whole technical ecosystem based upon kickback arrangements from the various providers, rather than based i[on the sophistication of technology and whether it is a good fit for their brand. What is the real point in having an FCA license? Well it is good for your banking solution, which we all know is getting harder by the day to solve. From a client perspective, the license adds ‘credibility’ despite in all probability they will not fall under this regulatory umbrella. That’s pretty much it. With regards to a lot of other international brands that have come over here. I believe that they have always
