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Russian-Cypriot liquidity hub TakeProfit a/k/a TakeProfitTechnology (https://takeprofittech.com) is an almost invisible giant in the Forex scene. Monthly $200 billion is processed through the hub. TakeProfit has offices in St. Petersburg and Cyprus. The shares of TakeProfitTech CY Ltd, registered in August 2018, are held by owned by Broctagon Clearing Limited (70%) and by the Russian Timur Latypov (30%). The latter serves as a director alongside Quek Changchun, Singapore, and Michael Pantelakis. TakeProfit is thus a part of the Asian Broctagon Kraken in Cyprus.
Key data
| Trading names | Broctagon Prime Broctagon Fintech Group TakeProfit |
| Domains | https://broprime.com/ https://broctagon.com/ https://takeprofittech.com |
| Social media | Facebook, Twitter, LinkedIn |
| Legal entity | Broctagon Prime Ltd, Cyprus Broctagon Prime Markets Limited (Broctagon Labuan), Labuan Broctagon Clearing Limited, Cyprus TakeProfitTech CY Ltd, Cyprus Broctagon Capital Limited, UK (dissolved) Starfish Markets (CY) Ltd d/b/a Starfish FX Starfish Markets Limited, UK (dissolved) |
| Related individuals | Don Guo, CEO, Singapore (LinkedIn) Choon Keit Wong, Malaysia Soh Kai Jun a/k/a Benjamin Soh a/k/a Guanxiang Soh, Singapore Michael Pantelakis, Cyprus Timur Latypov Quek Changchun |
| Jurisdiction | Cyprus |
| Regulators | CySEC (license no 320/17) Labuan Financial Services Authority (Labuan FSA) |
| Other brands | Starfish FX |
| Related brokers | GWG (Cyprus) Limited d/b/a GWG (https://gwglobalfx.com/) Notaly Trading Limited d/b/a Errante (www.errante.eu) Excelsius Prime Ltd d/b/a Excelsius Prime (www.exelciusprime.com) Rynat Trading Ltd d/b/a RyNat (www.rynattrading.com) AC Markets (Europe) Limited d/b/a Ausprime (https://ausprime.eu/) NAGA Markets Europe Ltd d/b/a NAGA (www.naga.com) |
The narrative
In April 2017, CySEC granted a CIF license to Broctagon Prime Ltd d/b/a Broctagon Prime. The company is controlled by Soh Kai Jun, holding 90.01%, and Michael Pantelakis, holding 9.99%. The latter is a director in most of the Cyprus-based entities of the Broctagon Group. Broctagon Prime Markets Limited (Broctagon Labuan) is regulated by the offshore regulator Labuan Financial Services Authority (Labuan FSA) as a money-broking business.
The regulated entities in Cyprus and Labuan are part of Broctagon Fintech Group in Singapore, whose CEO is Don Guo.
Soh Kai Jun is listed in the Cyprus companies register as the sole shareholder of Broctagon Clearing Limited. This company in turn holds 70% of the shares in TakeProfitTrech CY Ltd. The remaining 30% are held by the Russian Timur Latypov. In addition to the two, Quek Changchun is also registered as a director of this liquidity hub operator (picture left).
In Dec 2015, the Cyprus regulator granted a CIF license to Starfish FX, which was never activated. In March 2016, CySEC warned that Starfish Markets (CY) Ltd d/b/a Starfish FX would provide financial services without authorization. In Sept 2016, the license was renounced. The beneficial owners of Starfish Markets (CY) Limited are Don Guo, Soh Kai Jun, and Wong Xinyan.
The Broctagon Group is the liquidity and service provider to at least six CYSEC-regulated entities. In its Key Information Document, for example, GWG (Cyprus) Limited informs that the client’s orders are executed by Broctagon Prime Ltd. They are automatically transmitted for execution to Broctagon Prime Ltd when GWG receives them. NAGA, Ausprime, RyNat, Excelsius Prime, and Errante are also cooperating with the Broctagon Group for order execution and/or liquidity provision.
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