HF Markets, which can be generally identified by its buying and selling identify HotForex, has revealed solely to Finance Magnates that it has expanded its operations to the United Arab Emirates.
The newly-launched operations within the nation comply with HotForex, a overseas trade (foreign exchange) and contracts for distinction (CFD) brokerage, buying a Dubai Monetary Companies Authority (DFSA) license (F004885) on December 12, 2018.
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HF Markets (DIFC) Ltd, the official identify of the group’s operations in UAE, is situated in Dubai’s Index Tower. In response to the assertion, HotForex is now prepared to supply its retail buying and selling providers to shoppers within the Center East and North Africa area.
Commenting on the launch, George Koumantaris, the Chief Government Officer (CEO) of HF Markets Group mentioned: “this is a vital milestone for HF Markets. The UAE and the GCC provide very promising enterprise prospects and we stay up for nice success.
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“The DIFC, by way of its dependable and robust governance, compliance and clear construction, will strongly assist our new entry to the area.”
HF Markets (DIFC) Ltd, is a part of HF Markets Group, which is extra generally referred to by its two buying and selling names HotForex and HF Markets. The group is a conglomerate, together with world and controlled multi-asset brokers. The group has operations in the UK, Cyprus, South Africa and extra.
“HF Markets affords a broad vary of monetary merchandise and invests closely in instructional seminars and workshops. We’re very assured that by way of our newly acquired DFSA License, and our aggressive pricing and cutting-edge know-how, HF Markets will develop additional into positioning itself as a market chief within the area,” added Andreas Lazarou, the CEO of HF Markets (DIFC).
Brokers eye the Center East
Lately, an increasing number of European and UK-based brokers are popping up within the UAE and within the Center East usually. That is largely as a result of the GCC (Gulf Cooperation Council) area is desirous to make their economies much less dependant on oil.
This has put the UAE at a turning level in its financial evolution, paving the best way for buying and selling alternatives inside the retail sector.