Trade Nation to acquire FXCM UK client book
Trade Nation, a spread betting and contracts for difference (CFD) broker regulated by the Financial Conduct Authority (FCA), has agreed to acquire the UK client book of Stratos Markets Limited, which operates as FXCM and Tradu in the UK. A client book is the set of customer accounts and balances a broker holds. Trade Nation expects the transfer to complete in late November 2026.
FXCM’s UK business has served retail and professional clients since 1999. Trade Nation, founded in 2014 and headquartered in London, is authorised by the FCA under firm reference number 525164. Spread betting means staking an amount per point of price movement; a CFD is a contract that pays the difference in a market’s price between opening and closing.
FXCM’s UK clients are exactly the traders we built Trade Nation for: experienced people who know precisely what they want from a broker. We are delighted to welcome them, and from day one they should expect what our clients already value: very competitive pricing, a range of platforms you already know, and real people when you need them. This is a significant step for Trade Nation, and there is more to come.
Jon Noble, Chief Executive Officer, Trade Nation
Brendan Callan, Chief Executive Officer of Stratos Group (Tradu and FXCM), said: “Our priority throughout has been finding the right home for our UK clients. Trade Nation stood out for its platforms and its service culture, and we are confident our clients will be well looked after.”
Trade Nation’s transition page sets out the client mechanics. FXCM UK wrote to all traders yesterday, 6 October 2026. Clients who do nothing have their account, balance and data moved to Trade Nation Financial UK Ltd. Clients who opt out must complete FXCM UK’s opt-out form, close positions and withdraw funds.
| Date | Step |
|---|---|
| 5 November 2026 | Opt-out deadline |
| Week starting 16 November 2026 | Inactive accounts may transfer early |
| 20 November 2026 | FXCM UK closes open positions at close of business; accounts close shortly after 10pm GMT |
| 22 November 2026 | New Trade Nation accounts ready at 10.05pm GMT |
Terms change for those who move. Trading Station II accounts go to Trade Nation’s TN Trader platform. MetaTrader 4 (MT4) spread bet accounts become TN Trader spread bet accounts, because Trade Nation does not offer MT4 spread bets, and sizing shifts from contracts and lots to an amount per point. Trade Nation says the same FCA retail leverage limits and negative balance protection, which stops clients losing more than they deposit, will apply. Its page also warns that closing CFD positions may crystallise a gain or loss for UK capital gains tax.
The price is undisclosed. Several brokers are understood to have wanted the book, and Trade Nation entered the process in July. Matthew Wright, Trade Nation’s Chief Strategy Officer and UK CEO, described the price as a “sensible price”. The sale is also reported to be part of a wider decision by Jefferies Financial Group to exit online retail brokerage, but that is not confirmed in Trade Nation’s announcement, which does not mention Jefferies.
The dates suggest a window in which Trade Nation will court these accounts, and clients who opt out or dislike the changed platforms and pricing may become a pool other brokers target. That is inference, not something either firm has said, but UK-facing CFD and spread betting firms may want to check their own acquisition and retention plans for that group.
Risk warning: 73.8% of retail investor accounts lose money when trading CFDs with this provider.
