We announced on 17 July 2025 that Argentex has suspended all client trading activity and agreed additional voluntary requirements as set out below.

On 18 July the Board of Argentex announced that it has resolved to appoint administrators to the company and certain other subsidiaries in the group.

Daniel Conway, Anthony Wright and David Hudson of FRP Advisory Trading Limited were appointed the Joint Special Administrators (“JSAs”) of Argentex LLP (“the LLP”) under the Payment and Electronic Money Institution Insolvency Regulations 2021 on 21 July 2025.

The LLP has ceased client trading activity and the JSAs are taking steps to reconcile the position with a view to returning funds to customers as soon as possible in line with the process set out in legislation. Updates on the current status of this process will be provided below as they become available.
Despite the cessation of trading activity, all existing obligations in respect contracts between LLP and its contract counterparties remain legally binding and in full force and effect unless and until otherwise discharged or addressed by the Special Administrators.

Customer support should be contacted in the first instance at [email protected] with respect to operational queries. The JSAs’ team can be contacted at [email protected] for specific enquiries relating to the special administration.

Please note that due to a high volume of enquiries we may not be able to respond to you immediately.

Being Alert to Scams
All customers should remain alert to the possibility of fraud. If you are cold called by someone claiming to be from Argentex, FRP or the FCA, please end the call and call them back using an independently verified number. Argentex has ceased to trade and any other website using the Argentex branding will be a scam and should be reported to the JSAs.

More information about this can be found on the FCA website at: https://www.fca.org.uk/consumers/protect-yourself-scams 

On 17 July 2025, Argentex reached an agreement with the Financial Conduct Authority (FCA), to implement the following additional voluntary requirements:

• Argentex will not, without prior written approval from the FCA, carry out any regulated or electronic money services and we are required as a business to take all reasonable steps to prevent any incoming payment or funds from existing clients.
• Argentex will not, without prior written approval from the FCA, register and/or onboard any new customers, open any new accounts or any new FX trades or positions.

Under no circumstances should clients send any funds to Argentex, clients are also advised that at this time they will not be able to withdraw funds from Argentex, effective immediately.

The voluntary requirements were agreed in accordance with Argentex’s regulatory duties and in the best interests of clients and counterparties. We understand that this may cause concern, and we are working closely with our legal advisers, the FCA and other regulators, as well as other stakeholders to manage this process in an orderly and transparent manner in line with our regulatory and other legal duties.

If you have any urgent questions, please contact our client support team at [email protected]. If you are unable to email us, please call +44 20 3772 0314 (UK), 1300 845 906 (Australia), or +31 20 808 5646 (Netherlands).

More information can be found on the FCA register here:

https://register.fca.org.uk/s/firm?id=001b000003puIAiAAM#what-can-this-firm-do-restrictions

https://register.fca.org.uk/s/firm?id=001b000003Ua5cSAAR#what-can-this-firm-do-restrictions