ProbusFX – a retail broker based in Cyprus – announced on Monday that it has changed its trade name to SquaredDirect.
The new name comes after the broker formed a partnership with Squared Financial, a company which, as its name suggests, provides a variety of financial services to the retail and institutional market.
If you haven’t heard of ProbusFX or, as it is now known, SquaredDirect that’s probably because its a fairly new company.
Launched in the middle of 2017, the company only received regulatory licensing from the Cyprus Securities and Exchange Commission last year.
The brokerage was founded by Walid Abou Sleiman, a man from the land of Fairuz and Kibbeh – Lebanon.
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Abou Sleiman may be familiar to some of Finance Magnates fans as the founder of Aksys Capital, another retail broker that is based in Beirut and licensed by the Lebanese Capital Markets Authority.
Bringing Barakat to ProbusFX
Outside of the retail trading industry, our Ugandan readers may also recognize Abou Sleiman as an Honorary Consul to their great nation.
When he founded ProbusFX last year, Abou Sleiman brought in Youssef Barakat to head up the firm. Still CEO today, Barakat was CEO of Squared Financial for three years before he joined what is now called SquaredDirect.
“While operating as ProbusFX for the past year, we have been experiencing an exponential rise in the demand for Top-Tier financial services and solutions,” said Barakat on Monday.
“Remaining focused on the needs of our clients, we have decided to pair up with our sister company to be better able to offer services of unparalleled quality and supply the rising demand.”
Along with its name change, SquaredDirect has also moved to a new website. That includes an educational center for prospective traders and shows that SquaredDirect will continue to market itself as a broker providing direct market access.