FxPro Finally Relocates to Dubai Following Its Dubai Office Launch

Two months after the opening of an office in Dubai, forex and contracts for difference (CFD) broker FxPro licensed in the UK, Cyprus, and South Africa has finally relocated to the United Arab Emirates (UAE). The move was announced on Thursday, the company stated that it is part of its commitment to continuously expanding its business operations in the Middle East and North Africa (MENA) region.

In early June, FxPro announced for the first time the launch of its Dubai office, the online trading service provider pointed out that its decision was to make its services closer to retail and institutional customers in the region. Last year, FxPro also opened a representative office in Dubai, a global city and commercial center in the Middle East.

"We are excited about the move to our new office in Dubai," Elsy Rayess, FxPro's Head of Business Development, said in a statement. "This location positions us at the heart of the region's financial hub, allowing us to serve our customers more efficiently."

In June, FxPro rolled out 28 crypto CFDs on its platform, including BTC, ETH, and XRP, available 24/7. It also announced a reduction in spreads for the new instruments.

As early as 2021, the broker allowed traders to manage their crypto CFD positions on weekends. However, FxPro still wants to do more and plans to expand its offerings and add new account types.

In recent years, Dubai, the UAE, and the wider MENA region have become attractive markets and operational bases for many firms. This year alone, multiple forex brokers, including CMC Markets, ATFX, Moneta Markets, and Plus500, have launched or consolidated their businesses or received a license to operate in the region. Earlier this week, CFI also expanded its presence in the MENA region with the launch of a new subsidiary in Palestine.

(Source: Finance Magnates)