CPT Markets Earns UAE SCA License Following European Expansion with Cyprus Office

CPT Markets, a forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and contracts for differences (CFDs) brokerage firm, has obtained the Arrangement and Advice license from the United Arab Emirates' Securities and Commodities Authority (SCA), as confirmed by a LinkedIn post. The approval comes as CPT Markets expands its European footprint with a new office in Larnaca, Cyprus, establishing its first physical presence within the European Union.

CPT Markets Gains SCA Category Five Authorization

The Securities and Commodities Authority (SCA) has granted CPT Markets a Category Five authorization, enabling the company to conduct introductions and financial promotions in the region. With this license, CPT Markets can arrange financial products and engage in regulated promotional activities, further strengthening its presence in the UAE.

"With our newly earned SCA Category Five authorization, we are strengthening our commitment to the region, facilitating introductions, and expanding our market presence through regulated financial promotions," the company stated.

CPT Markets operates in multiple regions, offering trading services across various asset classes. The company’s latest authorization reflects its efforts to align with regulatory requirements in key markets.

CPT Markets Opens Cyprus Office

CPT Markets operates in multiple regions, offering trading services across various asset classes. The company’s latest authorization reflects its efforts to align with regulatory requirements in key markets.

CPT Markets opened its Cyprus office in June 2024, with Ioan Mihalachi appointed to lead the new unit. The office began operations with 15 staff members across various departments, including operations, support, payments, risk management, and compliance.

Mihalachi, who joined CPT Markets as Chief Operating Officer earlier this year, brings 14 years of experience. Previously, he served as the CEO of Multibank’s Cyprus unit, where he played a key role in securing the company’s license, as reported by Finance Magnates.

Mihalachi highlighted Cyprus as a strategic hub for financial services, with a skilled workforce in the trading sector. He emphasized that the primary focus of the new office is ensuring operational efficiency.

CPT Markets offers margin forex, CFDs on indices, commodities, stocks, and cryptocurrencies. The company operates under five licenses, but lacks an EU license. The firm plans to apply for a Cyprus Investment Firm license (CIF) from CySEC to further its European expansion.