ZuluTrade acquired by the Formax Group from China

logomark Luca Puddu calendar Last Updated: November 2021 timer 2 min read
Connect with us

ZuluTrade changes owner.

The famous Social and Copy Trading platform, one of the first in the industry, was acquired by Formax Group, a large Chinese group with offices in the United Kingdom, Australia, New Zealand, Hong Kong and Vietnam, and branches in 33 major cities in China, including Beijing, Tianjin, Shanghai, Shenzhen, Guangzhou, Wuhan and Chengdu.

Formax Group operates in the field of integrated financial products and offers asset management services, investment consultancies and financial credits.

Among the services offered by Formax Group are infrastructures for trading on US and HK stocks, and forex currencies, P2P services, small and micro loans and other financial services related to the Fintech field.

Formax Group, led and founded (in 2012) by Bill Wang, hasn’t simply acquired the ZuluTrade platform, but also includes the other subsidiaries of the group of Leon Yohai, founder and CEO of ZuluTrade.

In addition to ZuluTrade, the deal includes the acquisition of the Greek-based brokerage firm Dayo Innovative Trading Ltd., which operates under the well-known name of AAAFX, and is the real holder of the ZuluTrade patents.

Acquiring AAAFX, the Formax Group also acquired the broker’s licenses, and of course all its customers, which at the time of the agreement amounted to 30,000.

The agreement also included the sale of ZuluTrade Japan, a company with a JFSA license.

The total sale price amounts to around $12.4 million.

The transaction stems from the Formax Group’s ambition to expand its portfolio of services, including one of the most well-known and renowned Copy Trading platforms, and from ZuluTrade’s ambition to access the Chinese market by extending its reach into one of the most thriving markets in the field.

Visit Broker
(Your capital is at risk)

About the Author

Luca Puddu

Broker Expert

Always full of different interests, Luca started to get interested in the field of personal finance in 2014.

His self-taught studies led him year by year to become increasingly interested in the investment field.

To date, Luca actively invests in the stock market and cryptocurrencies, focusing on rising markets and the industries of the future.

His main role at InvestinGoal.com is to analyze and study in the smallest detail the brokers and their platforms, while checking carefully that the information shown by them is genuine.

In this way, he provides readers with a complete and truthful overview of the broker they might be interested in.

Leave a Reply

Your email address will not be published. Required fields are marked *

Keeping you better informed

Find and Compare the Best
Online Brokers for You

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
ADVERTISER DISCLOSURE: InvestinGoal is completely free to use for all. Though we may receive a commission from brokers we feature, this does not impact the results of our reviews or rankings which are conducted with complete independence and objectivity, following our own impartial methodology. Help us continue to provide the best free broker reviews by opening your account with our links. Please read our Advertiser Disclosure to learn more.
Copyright © 2021 InvestinGoal.com – All rights reserved. / Privacy and Cookie Policy / Basic Terms of Use / Sitemap