CMC Markets (LSE: CMCX) has chosen Upvest as the infrastructure provider for a new multi-currency cash equities offering in Germany, as the FTSE 250 broker moves to expand beyond its contracts-for-difference focus and reposition itself as a multi-asset retail platform.
Under the agreement announced on Tuesday, German clients will be able to trade stocks, exchange-traded funds and mutual funds denominated in pounds, euros and US dollars through a single account starting this autumn, the companies said.
CMC Markets said the product will allow users to hold and trade securities in their native currencies without forced conversion at the point of trade. The broker also highlighted features including instant onboarding and real-time data. The German service will replicate the zero-commission model CMC introduced in the UK earlier this year, when it launched a single platform combining investing and CFD trading for British clients.
Multi-currency access for German clients
Christine Romar, head of Europe at CMC Markets Germany, said the partnership with Upvest will enable German users to trade London Stock Exchange-listed securities in sterling, DAX components in euros and US technology stocks in dollars on the same platform. She said in a statement that "today's investors don't think in terms of borders, but in terms of opportunities," describing the rollout as a "massive leap forward" for the broker's European expansion.
The new German offer places CMC in a segment with several established retail equity providers. Berlin-based Trade Republic and Munich-based Scalable Capital have spent recent years building sizeable retail equity books in Germany, while Saxo, Interactive Brokers and Lightyear already market multi-currency share trading to European customers.
Template for wider European expansion
CMC Markets said the German launch is intended as a template for further European growth. The same underlying infrastructure will be used as the broker expands into other European markets and adds localised products such as pension wrappers and tax-advantaged accounts.
The Upvest partnership aligns with a broader strategy CMC outlined in November, when it told investors it aims to become a financial "super app" that combines traditional finance, decentralised finance and, over time, banking products.
Upvest builds on recent client wins
For Upvest, the CMC deal adds to a series of broker and bank client wins that have increased the visibility of the Berlin-based company in European brokerage infrastructure. The firm raised $125 million last month at a €640 million valuation in a funding round led by Sapphire Ventures and Tencent.
CMC Markets joins an Upvest client roster that already includes Revolut, N26, bunq, Webull, Raisin, DKB and Santander's Openbank, according to the source.
