London-headquartered ICM.com, which is operational in several jurisdictions, has bolstered its presence in the Middle Eastern and North African (MENA) region with the latest expansion into Qatar.
Announced on Tuesday, the brokerage group has received authorization from the Qatar Financial Centre (QFC) to expand into the new country. It also established a physical office in Doha, the capital city of Qatar.
This, according to the company, will help it to become more accessible to its regional clients.
“Our vision for ICM’s continuous expansion has always been imperative,” Shoaib Abedi, the Founder and CEO of ICM.com, said when commenting on the expansion. “Despite ongoing Covid-19 disruptions, we are able to achieve steady growth and carry on branching out within the MENA region.”
The brokerage has strategically chosen Qatar as it is one of the major financial hubs in the GCC and MENA region. In addition, it is one of the major economies in the region with a massive potential client base for the broker.
InstaForex and Borussia Dortmund Open New Chapter in Partnership!Go to article >>
“We have chosen Qatar, being a financial hub and among the league of advanced economies in the region,” Abedi added.
A Global Broker
After the recent expansion, ICM.com now operates more than 20 global offices and is regulated in seven jurisdictions, including the United Kingdom, Cyprus, Malaysia and Mauritius.
The expansion into Qatar came after the broker entered Jordan last year with a local partnership. The broker’s ambition for global expansion can be seen from its previous appointment of a General Manager for the Greater China market and a Director in Dubai earlier this year.
Apart from the geographical expansion, ICM.com continued to strengthen its products with the addition of around 700 US stock CFDs recently.