Monday 30 November 2020 11:59 pm

ActivTrades pick up SVS Securities clients after failure

ActivTrades, an online ForEx and CFD broker, has been chosen as one of two options for clients of bust wealth management firm SVS Securities to transfer to.

The broker has been chosen alongside ITI Capital.

SVS was placed in Special Administration in August after a dramatic public run in with the Financial Conduct Authority.

Failed wealth management firms will often see administrators arrange transfers to other brokers or platforms to ensure clients are not stung by the failure.

As in this case, clients typically do not have to pay exit fees on their transferred funds.

“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,” he added.