CMC Markets wants to “disrupt” the sector with the launch of a wealth management platform in the UK.
The company is set to battle existing giants such as Hargreaves Lansdown and AJ Bell.
Peter Cruddas, chief executive of CMC Markets, told International Adviser: “A key driver of CMC’s success is our technology. We’re great at it and we believe there is a significant opportunity to disrupt the self-investing sector in the UK.
“We intend to launch a full-service investment platform in the next 12 months. The success of our ANZ Bank partnership in Australia is testament to the strength of our technology capabilities and we look forward to introducing our UK offering in due course.”
The UK-based online trading group was established in 1989 and serves retail and institutional clients through regulated offices and branches in 12 countries, with a presence in the UK, Australia, Germany and Singapore.
It currently offers an online and mobile trading platform, enabling clients to trade over 10,000 financial instruments across shares, indices, foreign currencies, commodities and treasuries through contracts for difference (CFDs) and financial spread bets (in the UK and Ireland only).
