Kapital Investment Group B.V. (KIG BV), part of the global financial services group Global Kapital Group and parent of the GKFX retail forex brand, has announced that it has acquired Işık Menkul Değerler A.Ş., a multi-asset broker in Turkey.
The company said that the acquisition gives KIG BV a greatly increased product range, as Işık Menkul is a multi-asset broker offering trading in stocks, futures, FX, commodities as well as CFD products.
Işık Menkul increases the Group’s global presence by adding the MENA region after Europe, Australia, Asia and the US, marking a significant step in KIG’s plans to become a leading global multi-asset group.
Işık Menkul is a well-established company, with a 35-year track-record of providing brokerage services. Part of its reputation has been linked to making financial markets more accessible for investors and traders in its region. The company was the first broker in Turkey to offer commission-free stock trading in 2021 – a decision that has been viewed as revolutionary.
It is licensed and regulated by the Capital Markets Board of Turkey (CMB) and offers leveraged trading on stocks and foreign exchange derivatives. The acquisition gives KIG BV the right to operate in Turkey, expanding the Group’s global reach.
KIG BV Chair of the Board Engin Çubukçu said:
“The acquisition of Işık Menkul marks one of the most important steps so far towards our goal of becoming a multi-asset investment platform. As a top-tier financial institution with a significant share in Turkish capital markets, Işık Menkul serves more than 26,000 clients in Turkey, providing a gateway into the Istanbul Stock Exchange (BIST) while offering futures, FX, commodities and CFDs for trading.
Our strategy involves constant innovation to make financial services more accessible to investors. Işık Menkul has proved that it can make great improvements in the industry and has secured a place as one of the region’s most reputable financial institutions. It attracted our attention with its dedicated efforts for increasing accessibility to financial markets.
What excites us the most is how Işık Menkul’s business strategy matches ours. Evolving into a multi-asset investment platform focusing on improving its clients’ trading experience, Işık Menkul positions itself as an all-round financial institution, going beyond offering trading products and platforms. It is always more fruitful to work with companies that you share a common purpose with.”
Çubukçu also pointed out the strategic importance of the acquisition:
“Turkey is one of the most important markets in the MENA region, as it is highly developed and very competitive. Entering the Turkish market with a financial institution with such strong credentials will give us a significant advantage over our competitors. Işık Menkul is a company that prioritises transparency, a key point in the establishment of a loyal client base. It is also a pioneer being the first zero commission stockbroker in Turkey which has helped it establish a strong brand recognition, crowning its already highly reputable brand image.”
This year has been a breakthrough year for KIG BV with global acquisitions and licenses. It has acquired FairMarkets in Australia, stepped into the US with GK Trade New York, established a broker in Africa licensed by FSC Mauritius and acquired a CMB regulated multi-asset broker in Turkey, all in the first seven months of 2021.
Kapital Investment Group B.V. (KIG BV) is a Dutch private company with limited liability, incorporated on August 23, 2019. Owned by GKG Holding BV in Netherlands, KIG BV operates across the globe in different business segments with highly qualified professionals throughout its subsidiaries. With the vision and goal of becoming “a global multi-asset investment platform and technologies holding company”, the Group is expanding into different regions by acquisitions and organic growth.
The GKG group is controlled by Turkish businessman Kasim Garipoglu.