Following the acquisition of German-based investment bank ACON by JFD Brokers, the Group has decided to rename the business to JFD Bank and combine its retail and institutional services under the same brand. It is also the latest in a couple of developments for the firm. the firm introduced commission-free stock trading conditions which allows clients of the broker to trade real stocks without incurring any fees, without limitations.
In March 2018, the foreign exchange broker announced of 80% shares of ACON, with the potential to attain the rest of its shares in the future. It was one year later that JFD bought the remaining 20%.
Now, the single owner of the BaFin-regulated entity will be offering services such as designated sponsoring, institutional sales trading, initial public offerings, transaction structuring and more under the brand JFD Bank AG, which is also a capital markets partner in the Frankfurt, Munich, Düsseldorf and Vienna stock exchanges.
Lars Gottwik, founder and CEO of JFD, commented: “Launching JFD Bank has been a challenging task and a tremendous success for us. It marks the end of a long, very complicated and sometimes frustrating process of acquiring a regulated German investment bank and getting all the necessary approvals. However, for us this is also the beginning of a new, even more exciting part of our journey. JFD is on a mission to set new standards in the trading, investing and banking world, and JFDBANK.com is just the beginning.”
Earlier this year JFD already challenged the status quo of traditional brokers and investment intermediaries by introducing zero-fee stock trading for its clients. The new conditions came with no limitations to number of trades, minimum volumes, or additional monthly fees and charges. JFD clients can now trade over 600 US, German and Dutch stocks via both MetaTrader 5 and Guidants platforms. The company also provides Forex and CFD trading on ETFs, Indices, Commodities, Cryptocurrencies and Bonds, encompassing 1,500+ instruments across 9 asset classes.
