Online FX and contracts for difference (CFDs) broker Deriv has unveiled plans for a second office in Cyprus, Finance Magnates has learned. The new facility, set to open in mid-December, will be located on the 12th floor of the Asteroid building in Nicosia, the island nation's capital.

Deriv Expands European Presence with New Office in Cyprus Capital

This move comes as Deriv, with 25 years of industry experience and a global presence in 20 locations, seeks to strengthen its position in the Old Continent. The company, already established in Limassol, views Cyprus as a crucial hub for the online trading industry.

“Cyprus is pivotal to the online trading industry. Nicosia is a good choice due to its solid reputation as a thriving hub for research and tech,” said Rakshit Choudhary, Co-CEO of Deriv. “Our investment here not only strengthens our operational framework but also allows us to tap into the vibrant ecosystem that Cyprus has cultivated.”

According to the press release exclusively seen by Finance Magnates, the Nicosia office will function as a technology development center, with plans to work on artificial intelligence, data analytics, and programming solutions. The facility marks an expansion of Deriv's technical operations in the region. The new office includes collaborative spaces, workstations, and meeting rooms.

“This expansion seeks to attract forward-seeking minds who are not only looking for career opportunities but to accelerate their professional growth through the dynamic roles,” said Andreas Potamitis, Head of the Nicosia Office. “Deriv offers extensive opportunities for professionals to work on AI-powered trading solutions, advanced platforms and sophisticated projects, all without the need for lengthy commutes.”

Deriv Is Hiring

Deriv is currently hiring for several positions, including Trading Analysts, DevOps and WinOps Engineers, and Low Code/No Code Developers. The company has received a Platinum accreditation from Investors in People, an organization that evaluates workplace practices and culture.

As part of its recruitment efforts, the company participated in the IMH Career Fair in mid-December 2024. The event provided an opportunity for professionals to learn about job openings and the company's plans.

The Cyprus expansion is part of Deriv's strategy to access local talent and expand its European presence. Deriv reports serving over 2.5 million traders globally, offering various trade types across more than 200 assets on its trading platforms.

A few weeks ago, the FX and CFDs broker enhanced its trading tools by introducing “Tactical Indices,” designed to eliminate the need for manual rebalancing.