Offshore (Mauritius) wrote the FX retail trade and CFDS Broker Ultima Markets announced that the company has obtained a regulatory license under the UK’s financial behavior Authority (FCA), with plans to create an adjustable presence in the United Kingdom. Ultima Markets, until now focuses mainly on China and Far East customers, plans to board the UK customers from 2026 and is scheduled to launch a local UK offer.
Acquisition of businesses with FCA licensed
We understand that the license was acquired through the acquisition of Tiger Brokers (UK) Ltd, the (former) FCA licensed by UP Fintech Holding Limited (Nasdaq: Tigr), which exploits the brokers Tiger Brokerage.
We understand that the deal was hit between Tiger brokers and Ultima Markets in November 2024, after Tiger brokers decided to get out of the United Kingdom market. The parties took over in the coming months to obtain approval from the FCA’s regulatory approval for the agreement (and for the new owners), which was granted in July 2025. Ultima Markets introduced £ 658k to the business before the agreement was closed to the continued costs during the transition period.
Redemption
The acquired business – now renamed Ultima Markets UK Limited – had not traded many businesses in recent years, basically zero in revenue for every 2024 and 2023 (as well as 2022 and 2021), while accumulating losses totaling £ 4.6m in base of the company. The company did not say that they had deposited customer funds.
UK online marketplace
The last few months have been somewhat interesting in the UK’s electronic market market, with several long -term participants (such as Tiger, Aetos and Trive Brokers), deciding to depart, given the high cost of customer acquisition and extremely high competition with the deep stakeholders, Merchants.
However, other brokers, such as Ultima markets, GTN and Moneta Markets, move in the opposite direction and try to create a presence in the United Kingdom.