Capital.com Receives Singapore Licence, Onboards IG-Alum Tony Lim as Local CEO

The licence permits the Singapore unit to offer securities, collective investment schemes and over-the-counter derivatives, which are contracts for differences (CFDs).

Lim previously spent nine years at IG's Singapore division as its CEO and Managing Director, leaving the role in early 2024.

His appointment coincides with the departure of Breon Corcoran from IG Group, who joined as CEO in 2024.

Strategic Expansion

The acquisition of the licence is a key part of Capital.com's broader strategy to expand its global footprint and diversify its regulatory presence.

The broker is actively pursuing new licences in several markets, including Japan and Turkey, and has recently become regulated in South Africa.

It is also hiring local CEOs in Brazil and Chile, signalling a direct entry into these South American markets.

The broker is expanding beyond its core CFD offering by launching physical share trading in Europe, with plans to extend this service to the UAE and the UK.

Singapore's Appeal

Singapore is a highly attractive market for CFD brokers despite its small geographical size, drawing in major industry players.

Other prominent brokers operating in Singapore include CMC Markets and Saxo, alongside Capital.com.

The Monetary Authority of Singapore is a stringent regulator, and obtaining a licence requires significant investment and adherence to strict compliance standards.

Next Steps

Capital.com is also pursuing the acquisition of FxPro's EU client book, a move that would further bolster its European client base.

The broker is expected to follow the same strategy in Singapore as in other markets, likely expanding its product offerings beyond CFDs.

Finance Magnates approached both Lim and Capital.com to learn about the broker's strategy in Singapore, but did not receive any response as of press time.