London-based investment broker ITI Capital Ltd has gone into special administration, three years after the FCA removed its permission to carry out regulated activity.
Duncan Perring and David Soden, of Teneo Financial Advisory Ltd have been appointed as special administrators.
ITI Capital is an FCA-authorised and regulated brokerage company that helped customers invest in shares and bonds and also looked after their investments.
According to its LinkedIn profile, the firm was, “an emerging markets-focused brokerage firm that services a diverse set of clients” with customers including private clients, proprietary trading firms, banks, hedge funds, institutional investors and corporates.
It offered “a variety of investment services, from a simple to use, online multi-asset trading platform" to a "robo-advice offering with five different model portfolios...(and) more bespoke services such as Advisory and Discretionary Management.”
It operated from offices in Threadneedle Street in the City of London. The firm had been authorised by the FCA since 2001 and traded under the name ITI Capital since 2017.
It had previously traded under 14 different names, including before it became authorised by the regulator. It’s first business, according to Companies House records, was Revmark Investments Limited, which was set up in May 1994.
According to the FCA Register it became Options Direct Europe Ltd in 1995, before switching to the variant Options Direct (Europe) Limited in 1998. In 1999 it began trading as ODL Stockbrokers & Co and as Mybroker.
In 2002 it added ODL Securities Ltd and Options Direct, and in 2007 it began trading as ODL Capital. In 2011 it added four new names: FXCM Stocktrading, FXCM Stock Trading, FXCM Securities Limited, and ODL Securities.
In 2015 it registered Walbrook Capital Markets Limited and added ITI Markets in 2020.
The business first had restrictions placed on it in 2020 in relation to former clients of SF Securities which had gone into special administration in June of that year. In June 2022 the FCA placed a number of restrictions on regulated activities by the firm and in May 2023 the regulator said it required a full wind-down of the firm’s retail business.
On 10 August 2025, the firm agreed with the FCA to stop carrying out most regulated activity (UK and overseas) and to stop accepting any new client money or custody assets.
The special administration announced today means the firm is likely to be wound up with administrators charged with returning any client money they can.
The FCA said: “We recognise this may be a worrying time for customers. The special administrators are responsible for managing the affairs of the firm during the special administration process. They are officers of the court and need to comply with all insolvency law.”
It said any questions about the special administration should be sent to the special administrators at