Advanced Markets

Who They Are

Advanced Markets was founded in 2006 and celebrated its twentieth year of operations in 2026. The company is headquartered in Limassol, Cyprus (CySEC-regulated CIF), with its UK regulated entity (Advanced Markets (UK) Ltd, FCA license reference 777739) established in 2018 and physically based in London (Bermondsey Street, SE1). The firm is backed by BGC Group - a globally listed institutional financial services business with roots in interdealer brokerage - a parent relationship that provides both balance-sheet credibility and access to institutional LP relationships. Advanced Markets has been operating as a prime-of-prime for nearly two decades, making it one of the longer-tenured independent PoP providers in the broker-facing liquidity market. It is a pure-play liquidity provider: no trading platform, no CRM, no turnkey stack. The commercial proposition is entirely anchored to the quality of execution and the transparency of the agency model. The company offers adaptive credit structures spanning both prime brokerage and prime-of-prime configurations, accommodating different broker capitalization and credit appetite profiles.

What Is Actually in the Package

Advanced Markets provides liquidity across seven asset classes via FIX API, with MT4, MT5, and Fortex 6 as named platform integrations. The upstream LP pool includes named Tier-1 institutions - UBS, Standard Chartered, Barclays, Goldman Sachs, JP Morgan, Deutsche Bank - alongside specialized market makers and proprietary trading firms. This level of upstream LP name transparency is unusual in the PoP market and gives the offering genuine verifiability relative to competitors who describe their LP relationships generically. The execution model is the proprietary FOX model: automated STP with no last-look and no manual intervention. The FOX model is explicitly designed to eliminate the conflict-of-interest dynamics associated with principal-model LPs. Market depth is displayed across all price levels, giving broker risk desks full order-book visibility. Custody options with Macquarie Bank are available as an add-on. Technology bridge integrations extend to PrimeXM, oneZero, Tools for Brokers, Fortex, and YourBorse - an unusually broad connectivity set that means Advanced Markets can be layered into virtually any standard broker technology stack. Co-location venue details are not prominently published, though the firm’s institutional client base implies proximity to standard FX infrastructure.

Pricing Reality

Advanced Markets operates on a commission-based agency model rather than a spread-markup model. The agency structure means the broker pays a stated commission per traded unit and receives the raw LP spread without an additional Advanced Markets markup on top of it. This is the fundamental economic difference from a principal-model LP: the commission is transparent and discussable; the spread is the market’s spread, not a house-marked-up version of it. Actual commission rates are negotiated commercially and not publicly published, but the structural transparency of the model means a broker evaluating Advanced Markets can request a clear breakdown of LP spread versus commission without the ambiguity that surrounds a principal LP’s pricing. For operators building best-execution documentation, this pricing structure is directly supportable in policy filings.

Jurisdictional and Licensing Fit

Advanced Markets operates two primary regulated entities: the UK FCA entity (license 777739) and the Cyprus CySEC-regulated CIF. The FCA entity established in 2018 positions the firm as a credible counterparty for FCA-regulated UK brokers who need a UK-licensed LP in their execution chain. The CySEC entity covers the dominant Cyprus/EU broker corridor. BGC Group’s institutional backing adds an additional trust layer beyond the license credentials. Australian operators (ASIC) and DFSA-regulated Dubai operators should confirm whether the FCA or CySEC entity covers their counterparty requirements, or whether a separate arrangement is needed. The absence of a dedicated ASIC-regulated entity (versus the FCA UK entity) means Australian operators will typically face the UK entity - generally acceptable under equivalence and eligible counterparty frameworks but worth confirming. Offshore and unregulated broker operators can access the liquidity through standard commercial terms with the CySEC entity.

Where It Fits in a Multi-LP Stack

Advanced Markets is structurally suited to be the anchor agency-model LP in a multi-LP stack. Its combination of named Tier-1 bank connections, documented no-markup no-last-look posture, FCA regulation, and broad bridge compatibility makes it a reliable primary source for FX majors, metals, and equity indices - the asset classes where execution transparency matters most for regulatory documentation. In a standard multi-LP construction, Advanced Markets serves as the primary agency-model anchor; LMAX Exchange provides the exchange-tier anonymous CLOB execution for high-value flows; and a crypto-capable PoP (B2Prime or similar) covers the digital-asset CFD book. Advanced Markets’ bridge integrations with PrimeXM and oneZero mean it can sit within an aggregation layer without a separate integration project if the broker already runs those platforms for their routing infrastructure.

Where This Breaks Down

The pure-play PoP positioning, while a strength on execution transparency, means brokers get no bundled platform, CRM, or risk tooling - operators without an existing stack must source those components separately. The publicly disclosed instrument universe is described at the seven-asset-class level without specific breadth data on the instrument count or coverage within each class; operators with niche or exotic instrument requirements should verify coverage specifics during the commercial engagement. Crypto CFD coverage is not prominently featured in public materials, suggesting it may be limited relative to crypto-specialist providers. Pricing, while structurally transparent (agency model), is not benchmarked publicly - there is no published commission rate to compare against competitors. For high-frequency or scalping-heavy client flows, Advanced Markets’ agency model removes the PoP’s conflict of interest but places more emphasis on the raw LP quality; operators should request fill rate and slippage data by flow type before committing at scale.