Even as the Forex industry has been affected negatively by historical low volatility, we are still seeing the birth of new brokers. Although registrations of new licensed brokers in Cyprus are below 2013 levels, the island continues to be one of the prime destinations for firms seeking regulation to allow them to market legally in the EU. When receiving lists of new registrations from CySEC, part of the difficulty is solving who will be the next broker set to launch a Cyprus operation, as very often the entity represents an existing broker who has decided to either expand its regulatory status, or receive its first license.
Among new registrations this year was Boursotrade, which was regulated in May but has yet to launch its operations or be affiliated with any existing broker. Recently though, the company’s activity has begun to emerge with the creation of the Boursotrade.com website indicating a pending launch. Forex Magnates connected with the firm to learn more about their upcoming operations.
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Speaking with the CEO, Boursotrade was founded by individuals coming from the asset manager and tech world, as well a from the forex industry. Previous to Boursotrade, members of the investing team had managed Luxembourg based Mont Blanc Management.
While similar to other CySEC brokers as Boursotrade will be launching with the familiar MetaTrader 4 platform and using webtrader and mobile technology from a third party industry provider, the firm has developed its own in-house CRM back office which it believes will provide value to partners.