AvaTrade is closing its branch office in Poland almost six years after its opening. The broker’s Managing Director of Polish operations, Patryk Schulmeister, confirmed the upcoming closure while announcing his separation from the company.

“I have decided to move on, and the Polish branch of AvaTrade will also be closing its doors,” Schulmeister wrote in a LinkedIn post.

“International Operations” to Support Polish Clients

AvaTrade opened its Polish office in mid-2020 to offer a “localised trading experience” to its clients in the country.

Schulmeister, however, confirmed that the broker would not ditch its local Polish clients and partners. Rather, it will continue to support them under AvaTrade’s international operations, but he did not specify which one.

Within Europe, AvaTrade holds regulatory authorisation in Cyprus and a licence from the Central Bank of Ireland. The broker is also regulated in Australia, Japan, and the British Virgin Islands, among other regions.

AvaTrade’s Expansion Race

Founded in 2006, AvaTrade is a brokerage headquartered in Ireland. The broker has expanded beyond its regular forex and contracts for difference (CFD) offerings and launched a futures trading platform in 2024.

Last June, Finance Magnates reported that AvaTrade was negotiating to buy the operator of the FXCM and Tradu brands from Jefferies Financial Group and had already submitted a bid. The current status of the deal, however, remains unclear.

In 2021, Sky News reported that AvaTrade had appointed JP Morgan and Jefferies to lead preparations for a London Stock Exchange IPO, targeting a valuation of up to £700 million. However, the company has remained privately held, continuing to rely on private financing, M&A activity, and internal resources rather than pursuing a public listing.

This article was written by Arnab Shome at www.financemagnates.com.Retail FXRead More

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