Today’s announcement by Leonard Curtis, the Joint Special Administrators of SVS Securities plc, allows clients who held Elective Professional Client (EPC) status with SVS to open an account with either ActivTrades or ITI Capital. SVS Securities was placed in Special Administration in August last year after the FCA identified serious concerns about the way the business was operating.
“We look forward to welcoming all the EPC clients of SVS who chose to transfer to ActivTrades and we will ensure the switch is as seamless as possible,’’ said Alex Pusco, CEO of ActivTrades. “Not only will these clients be able to access their assets and start trading quickly, they will also have a wider range of FX and CFD products to trade. We welcome this opportunity to show the industry our technology, efficiency and financial expertise.”
EPC clients switching to ActivTrades will not have to pay any exit fees to ActivTrades if they decide to withdraw their funds. Additionally, these clients will immediately qualify for up to £1,000,000 of insurance covering client funds above the threshold provided by the FSCS and will benefit from the protection of their funds being held on segregated accounts.
ActivTrades has enjoyed a bumper 2020 on the back of increased volatility and demand caused by the coronavirus pandemic. ActivTrades’ clients can trade over 1000 instruments, with spreads starting from 0.5 percentage in points and no commission on the majority of products. In particular, the popularity of its ActivTrader platform helped the broker report a record profit in the first half of 2020 of about £19 million on revenue of £30.9 million.