Authorities were evacuating Lofou, about 26 kilometres from Limassol city.
Although the blaze engulfed several villages, it is still far from Limassol city.
A map of southern showing locations of CFDs brokers and wildfire (Source: Google Maps)
The wildfire in southern Cyprus has taken a serious turn, with two people killed and hundreds evacuated. However, the devastation remains far from the heart of Limassol, which is home to several contracts for differences (CFDs) brokers.
According to local reports, two fires are raging out of control in the Limassol and Paphos districts. Authorities have continued their efforts to evacuate residents from the village of Lofou, about 26 kilometres from Limassol city.
Homes were also burning in the Souni-Zanakia communities early Thursday.
“The situation is very difficult, and the fire front is huge. All forces have been mobilised,” Cypriot President Nikos Christodoulides told reporters from the scene yesterday (Wednesday).
Nikos Christodoulides, President of Cyprus
Strong winds and high temperatures have also made it more difficult for firefighters to contain the blaze.
Authorities said 14 firefighting aircraft were deployed to tackle the fire yesterday (Wednesday). Although aerial operations were paused overnight due to darkness, aircraft were expected to resume at first light today (Thursday).
The country also requested assistance through the European Union's civil protection mechanism. Spain was expected to send two aircraft, and Jordan also pledged support.
Many CFD brokers operate from Cyprus, one of the country’s leading sectors for private employment. Although these brokers are spread across major cities, most are based in Limassol.
The wildfire erupted around midday yesterday (Wednesday) in mountainous terrain north of the southern city of Limassol. The cause of the wildfire is not yet known.
Temperatures on the Mediterranean island reached 43 degrees yesterday (Wednesday), prompting authorities to issue an amber weather warning. The ongoing heatwave is forecast to push temperatures to 44 degrees today (Thursday), which would make it the hottest day of the year.
Amid the scorching heat and dry conditions, the Cypriot forestry department issued an urgent appeal to the public to avoid using tools or generating sparks near forested areas.
The wildfire in southern Cyprus has taken a serious turn, with two people killed and hundreds evacuated. However, the devastation remains far from the heart of Limassol, which is home to several contracts for differences (CFDs) brokers.
According to local reports, two fires are raging out of control in the Limassol and Paphos districts. Authorities have continued their efforts to evacuate residents from the village of Lofou, about 26 kilometres from Limassol city.
Homes were also burning in the Souni-Zanakia communities early Thursday.
“The situation is very difficult, and the fire front is huge. All forces have been mobilised,” Cypriot President Nikos Christodoulides told reporters from the scene yesterday (Wednesday).
Nikos Christodoulides, President of Cyprus
Strong winds and high temperatures have also made it more difficult for firefighters to contain the blaze.
Authorities said 14 firefighting aircraft were deployed to tackle the fire yesterday (Wednesday). Although aerial operations were paused overnight due to darkness, aircraft were expected to resume at first light today (Thursday).
The country also requested assistance through the European Union's civil protection mechanism. Spain was expected to send two aircraft, and Jordan also pledged support.
Many CFD brokers operate from Cyprus, one of the country’s leading sectors for private employment. Although these brokers are spread across major cities, most are based in Limassol.
The wildfire erupted around midday yesterday (Wednesday) in mountainous terrain north of the southern city of Limassol. The cause of the wildfire is not yet known.
Temperatures on the Mediterranean island reached 43 degrees yesterday (Wednesday), prompting authorities to issue an amber weather warning. The ongoing heatwave is forecast to push temperatures to 44 degrees today (Thursday), which would make it the hottest day of the year.
Amid the scorching heat and dry conditions, the Cypriot forestry department issued an urgent appeal to the public to avoid using tools or generating sparks near forested areas.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Prop Firms and Brokers Form a Perfect Synergy: One Offers Access, the Other Capital
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
