Retail FX and CFDs broker Ultima Markets, domiciled in Mauritius, has announced the acquisition of Tiger Brokers (UK) Ltd, securing authorization from the UK’s Financial Conduct Authority (FCA) and paving the way for its entry into the UK market. The move marks a significant step in the broker’s international expansion strategy, with plans to launch a localized UK offering and begin onboarding clients in 2026.
Strategic FCA Entry Through Acquisition
The FCA license was obtained through the purchase of Tiger Brokers (UK) Ltd, formerly the UK-regulated arm of UP Fintech Holding Limited (NASDAQ: TIGR), which operates the online brokerage brand Tiger Brokers. The acquisition agreement was reached in November 2024, following Tiger Brokers’ decision to withdraw from the UK market. Regulatory approval from the FCA for the change of ownership was granted in July 2025.
As part of the deal, Ultima Markets injected £658,000 into the business to cover operating expenses during the transition. The UK entity has since been rebranded Ultima Markets UK Limited.
State of the Acquired Business
In recent years, the acquired company had seen little to no activity, reporting zero revenue for 2021–2024 and accumulating losses of £4.6 million by the end of 2024. The firm also reported holding no client funds at the time of the transaction.
Expanding into a Competitive Market
Previously focused primarily on clients in China and the Far East, Ultima Markets is now positioning itself to compete in the highly regulated UK online trading sector. The planned UK offering aims to meet local regulatory standards while expanding the broker’s global client base.