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FIBO Group Enters Latin America, Opens Chilean Office

The start of the new year seems to be propelling the activity of many Forex brokers and FIBO Group, the Cyprus-based brokerage, is not an exception to the trend. The Forex broker has just announced that it's setting its foot in Latin America by the opening of an office in Santiago, Chile.
 
The company is taking the move rather seriously, with the new office being not a meager telephone ringing once in a while but a brick-and-mortar establishment. The premises of FIBO will be at the 30th floor of the Edificio Millenium building – a suitable environment for a financial services company. The staff at the new office will be so kind as to provide consultations, customer support and Forex training services to the clients of the group. The service is customer-friendly, in the Spanish language which is official in Chile.
 
Chile is an emerging market and is a lucrative target for Forex brokers. Still, it's not heavily penetrated by Forex services providers. The single major international player we can mention in relation to Chile is FXCM which provides its services in Chile through an affiliate business FXCM Chile SA. Let's be more specific and say that FXCM Inc – the US-based broker, does not own any part of the Chilean business. 
 
Another major broker present in the Latin American market is Denmark-based Saxo Bank, although it does not have an office in Chile. But Saxo had started its operations in Latin America in 2012 and has since opened office in Uruguay and Brazil. The latter, as you may recall, is aimed at servicing institutional investors in Latin America.
 
Although the competition for FIBO will be represented by a handful of Forex brokers, you can see that it's very serious. Still, FIBO offers three of the most popular trading platforms – Metatrader 4, Metatrader 5 and even open-API cTrader, so its clients will have some nice variety of options to choose from. 
 
The opening of the Chilean office comes after FIBO set up an Australian business in October 2013 and even got an Australian financial services (AFS) license. And in the end of last year, just before the onset of the winter festivities, the company announced the opening of an office in Munich, Germany.  
 
 

About FIBO Group

 
The International Financial Holding FIBO Group comprises a group of companies whose main business area is margin trading in financial instruments. Clients can benefit from a number of investment products, including Spot Forex, Futures/Options, CFDs and Spot Gold. The brokerage is headquartered in Limassol, Cyprus, and is therefore regulated by CySec – the Cyprus Securities and Exchange Commission. As of May 2006, FIBO also has a functioning office in Shanghai.
TAGS: fibo group  fibo group forex broker  cyprus forex broker  chile forex  latin america forex  chilean office  forex market  emerging markets  santiago 

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