M4Markets acquires FX and CFDs broker Tixee

Trinota Markets Limited, the company behind M4Markets, has acquired the operations of Tixee. Tixee is a brokerage platform dealing in forex and contracts for differences (CFDs). The company operates in Europe, and it also maintains other operations globally.

Trinota Markets acquires Tixee

Trinota Markets will be acquiring Tixee either partially or fully. Tixee is shutting down its trading platform and allowing existing clients to transfer accounts to M4Markets. Tixee sent a customer support email detailing the acquisition describing the deal as mutually beneficial to the two organizations.

“Pipbull Limited (hereinafter “Tixee”) has recently entered into a mutually beneficial commercial arrangement with Trinota Markets (Global) Limited (hereinafter “M4 Markets”), one of the most promising CFD brokers in the market. Due to this fact, you cannot create an account with Tixee anymore,” the customer support email said.

The email also added that because of this latest development, Tixee would offer its existing clients an opportunity to transfer accounts to M4Markets. The company said the move would guarantee continuity of service for clients at Tixee. Tixee added that it would allow clients to trade using the best trading conditions available without disruptions.

The Seychelles-registered website for this company says that Tixee has more than 155,000 registered clients that have a presence in more than 115 countries. Nevertheless, the details of this acquisition deal have yet to be shared.

The extent of this acquisition deal has remained unclear. It has not been determined whether M4Markets has purchased the client book of Tixee alone or has acquired a wide range of assets at the company. However, as more details about this partnership deal are revealed, the nature of the acquisition will be revealed.

The email said that the financial market regulator in Seychelles approved the acquisition. It read that the Financial Services Authority of Seychelles approved the deal.

Tixee and M4Markets are both companies that offer services in the European Union. The companies have secured licenses from the Cyprus Securities and Exchange Commission (CySEC). It is yet to be determined whether this acquisition deal also included the Cyprus operations of Tixee.

Trouble at Tixee

This acquisition deal comes when Tixee appears to be in trouble. Tixee had already shut down the process of creating new accounts for platforms regulated in Cyprus and Seychelles, which dealt a major blow to the user growth prospects of the company.

The former Chief Operating Officer at Tixee, Todor Georgiev, recently resigned from the brokerage platform and joined FXGlobe. Multiple Tixee employees have also resigned from the company in recent months and joined other brokerage platforms.

Two former employees at Tixee who worked in the Business Development team, Huan Van Tran and Donya F, left to join M4Markets. Tran is currently working with Vietnamese-speaking clients at M4Markets. On the other hand, Donya took up the company’s Senior Business Development Manager role.