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Winterflood Securities Review
Winterflood Securities is a London market maker founded in 1988. Marex Group bought it from Close Brothers in 2026, so it now trades as part of Marex, not as before.
Min Deposit
N/A
Spreads From
Not applicable, Winterflood is a wholesale market maker, not a retail forex broker
Max Leverage
Not applicable, no retail margin trading is offered
Platforms
N/A
Pros
- Nearly 40 years of history as a leading UK equity market maker since 1988
- Holds close to 15 percent of London Stock Exchange trading volume, a top tier player
- Now backed by Marex Group, a larger global platform, after the 2026 acquisition
- Serves around 400 institutional clients across equities, AIM, and investment trusts
Cons
- The FSA fined Winterflood 4 million pounds in 2010 for a market abuse scheme
- Lost its appeal against that finding at the Court of Appeal
- Not a retail broker, individual traders cannot open an account here
- Changed owners in 2026, so its structure and branding are still settling in
Winterflood Securities started in 1988 as a small market maker for UK small cap shares and grew into a major liquidity provider on the London Stock Exchange. In 2010, the FSA fined it 4 million pounds for market abuse, after it misused rollover trades to distort the market for Fundamental E Investments shares in 2004. It challenged the finding and lost at the Court of Appeal.
For years Winterflood was a wholly owned part of Close Brothers Group, trading UK equities, AIM stocks, investment trusts, and ETFs for around 400 institutional clients. It holds close to 15 percent of trading volume on the London Stock Exchange, making it one of the top market counterparties, but it never opened accounts for individual retail traders.
Close Brothers sold Winterflood to Marex Group plc for about 103.9 million pounds, and the deal completed on 1 June 2026. Winterflood now trades as a division of Marex, working through Marex Financial, and stays authorised by the FCA under its existing licence.
Max Leverage
Not applicable, no retail margin trading is offered
Spreads From
Not applicable, Winterflood is a wholesale market maker, not a retail forex broker
Regulators
- FCA (UK)
- LSE
