CMC Markets (LSE): CMXUpvest has signed on as the infrastructure provider behind a new multi-currency equity float in Germany, the latest sign that the FTSE 250 broker is doing its best to shed its CFD-only image and rebuild itself as a multi-asset retail venue.
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The two companies said that under the agreement announced today (Tuesday), German clients will be able to trade stocks, ETFs and mutual funds denominated in sterling, euros and US dollars through a single account starting this fall.
Growing multi-currency in the crowded German market
What CMC offers, according to the company, is the ability to hold and trade securities in their local currency without forced conversion at the point of trade, along with what it described as instant setup and real-time data.
The German offer will replicate the zero commission model that the company introduced in the UK earlier this year, when Launched a single platform that combines investment and CFD trading For British customers.
Christine Romar, head of Europe at CMC Markets Germany, said the partnership will allow German CMC users to trade London Stock Exchange-listed names in sterling, DAX components in euros and US technology stocks in dollars on the same platform.
“Investors today do not think in terms of limits, but in terms of opportunities,” she said in a statement, adding that the offering was a “huge leap forward” for the European push for the broker.
CMC is delving into a sector that already has established incumbents. The Commercial Republic, headquartered in Berlin Munich-based Scalable Capital has been building large retail equity books for the past several years in Germany, while Saxo, Interactive Brokers and Lightyear market multi-currency equity trading to European clients.
Flatex and Comdirect, the discount brokerage arms of traditional German banks, also provide access to international exchanges, although transfer fees and pricing structures are increasingly questioned by retail investors.
The German launch is also intended to serve as a model. CMC said the same plumbing would be used as it expands into other European markets and adds local products such as pension wrappers and tax-advantaged accounts, although it did not provide a timeline for subsequent launches or name the next target markets.
Another step in the “super app” plan.
The Upvest deal falls within a broader strategy that CMC outlined last November, when it told investors it wanted to become a financial “super app” that would eventually combine traditional finance, decentralized finance and banking products. At the time the broker was placed Three-stage plan That would start with a Multi-asset
UK retail platform before adding token assets and stablecoins, and in the third phase, Payments and banking features.
CMC is not alone in chasing this model. XTB, Swissquote, Tradu and NAGA All have offered similar insights to investors, with mixed results so far. None come close to the scale of Asian super apps like Alipay or WeChat, and analysts wondered whether European retail brokers could convince clients to combine banking, investing and trading in one place when local incumbents still control the bulk of household deposits.
For CMC, the German build comes after a year of heavier than usual product activity. The broker reported first-half pre-tax profits of £49.3m on net operating income of £186.2 million in Novemberraised its full-year guidance by 10% and saw its shares rise nearly 40% in the following weeks. It serves more than 1.5 million traders worldwide and offers around 12,000 instruments, most of which are in the form of CFDs.
Upvest Cement strengthens its role as Europe’s preferred investment plumber
For Upvest, the CMC deal is the latest in a string of broker and bank victories that have transformed the Berlin firm into one of the most visible names in European broking infrastructure.
Company
It raised $125 million last month At a valuation of €640 million in a round led by Sapphire Ventures and Tencent, with CEO Martin Kassing telling Bloomberg at the time that Upvest was targeting more than €100 million in annual revenue and profitability within 24 months.
“CMC Markets chose Upvest because it needed infrastructure that could match its ambitions, not slow them down,” Cassing said in a statement. The two companies did not disclose the financial terms of the deal or whether CMC will pay licensing fees, transaction-based fees, or a combination of the two.
CMC joins a client list that already includes Revolut, N26, bunq, Webull, Raisin, DKB and Santander’s Openbank, which It migrated its German fractional share offering to Upvest
last year. In late 2025, IG, a London-listed CFD broker, used Upvest’s API Launch of stock trading for French retail clientsand earlier in the year Webull UK is connected to Upvest To add shares listed on the London Stock Exchange and trade in fractions of £1.
This article was written by Damian Schmil at www.financemagnates.com.
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