GMO-Z.com Trade UK Ltd, the British subsidiary of Japan’s GMO Click Securities, has significantly reduced its investment in the company to GBP1.5 million from GBP14 million in 2019, according to official documents. The company from the United Kingdom confirmed that it is transferring part of the invested funds to its Japanese parent company for capital optimization. The move came after the UK company had already applied for the revocation of its license to the Financial Conduct Authority (FCA) last June, which is now pending.
GMO-Z.com UK has had an FCA license since 2014. Initially, the company had plans to launch a UK-based retail forex and CFD trading aimed at UK and EU traders using its Z.com trademark. After that, however, the company focused on institutional services.