Japan’s GMO Internet group was to sell off its GMO-Z.COM London based forex brokerage to Australia’s Invast Global as of October 2022. However, the Financial Conduct Authority did not approve the transfer of shares in March 2023 so Invast has cancelled the transaction. GMO Internet has disclosed in the latest annual report of GMO-Z.COM that it now intends to close the operation within the year. GMO-Z.COM was established in London in 2012 and employed 10 people, 17 at its peak in 2019. It was trying to shift from individual client services to institutional client services.
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