The Cyprus-based subsidiary of CFI Financial Group Holding, which operates under the brand Credit Financier Invest (CFI) Ltd (formerly CFI Markets), is opening a new branch in the City of London. A company representative told Finance Magnates the new office would work under the CySEC license and that they “are now registering the branch in the Company’s House and are looking for offices in London.”
The CFI team in the UK is now also ready to cater to clients from the UK as well as the European region, he added.
Having a new office in London opens up an entirely new sales center in Europe. Under the current arrangement, Cyprus brokers can passport their CIF license to other EU member states.
Setting up a branch in the UK was in the pipeline for some time now. CFI Financial Group has recently continued to expand its operations in the Middle East, culminating most recently in financial services licenses for its subsidiaries in Jordan and Dubai.
Did COVID-19 Save the Forex Industry?Go to article >>
Last year, CFI dedicated to strengthening its corporate governance as the company highlighted that the expansion was focused on creating sustainable, profitable businesses.
A multi-regulated broker
With the opening of the UK branch, CFI is currently licensed and regulated to operate its forex and CFDs business in London, Beirut, Larnaca, Dubai, and Amman.
Credit Financier Invest is also registered at the Register of Commerce of Beirut and regulated by the Central Bank of Lebanon to provide several services with an emphasis on financial brokerages. CFI Group’s solutions encompass wealth management, portfolio advisory, treasury bonds, commodities and futures, stocks and ETFs, forex, online trading, credit facilities and fiduciary deposits.
In a joint statement, CFI Group Holding’s Founders and Managing Directors, Eduardo Fakhoury and Hisham Mansour, said: “We are thrilled to announce today another important step in our expansion plan. London is the main hub for CFD’s and FX trading worldwide and as a leading group, it is paramount for us to be present among the top firms worldwide. By setting offices in London, we will be in the heart of the global FX and CFD’s business, closer to our UK clients and, resources and latest technologies. A branch in London is also another evidence of our continued Global expansion.”