Sponsored By
de | cn | ru

Market News

FIBO Group Launches Business in Singapore

From the start of February 2014, Cyprus-based Forex broker FIBO Group will be operating from Singapore, in a move that adds momentum to the company's global expansion. The broker has a new office, located on the 20th floor of one of the towers of Raffles Place. This will not be a meager communications center for FIBO, as the office will employ staff that will provide the broker's services to local clients. 

 
The company has not elaborated on the details of the corporate status of the new branch – that is, we don't know whether the company will be obtaining license from the Monetary Authority of Singapore (MAS). The latter, as some of you may know, is an organization that oversees all financial services companies on the island, ranging from banks to Forex brokers.
 
For that matter it is worth noting that the Forex market in Singapore has been steadily growing over the past year – OANDA, for example – one of the brokers with longest presence in the country, saw its trading volumes triple after three years of operations there. Other leading brokers in Singapore include Forex.com and Saxo Bank. For a full list of FX brokers with operations on the island, click here.
 
FIBO will be now competing for a share of a booming market –  the average daily Forex volumes in Singapore vary from $260 billion to $300 billion. It's not a random coincidence that Singapore competes with Hong Kong and Sidney for the title of Asia Pacific's financial center. This said, we should note that in October 2013 FIBO announced the launch of a separate Australian business which has an Australian Financial Services (AFS) license from the Australian Securities and Investments Commission (ASIC). The opening of a branch in Singapore reinforces the foothold of the company in Asia.
 
FIBO has been actively opening new offices lately: in December 2013 it launched operations in Germany's Munich while in January 2014 a new office was set up in Chile's Santiago.
 
 

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. FIBO also has offices in Australia, Chile and Germany.
TAGS: fibo group  fibo group forex broker  singapore office  singapore forex  fibo group branch  forex market  raffles place  singapore forex broker 

More news about FIBO

Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa CySec, FSCA, FSC MT4, MT5, Web $5 Review Website
Cyprus CySEC MT4, Web $25 Review Website

More Forex Market News

France's AMF warned against Bitcoinoie and other unauthorized crypto trading websites

Dec 14 2018 14:57:11

  The Autorité des marchés financiers (AMF) warned the public against 30 crypto trading websites, among which is those of Bitcoinoie. The regulator stated that these websites provide unauthorized online investment services in cryptocurrency derivatives in France. Read more

New Zealand’s FMA blacklisted WiseBanc, Solid Global Investment Ltd. and Bitcoin Revolution

Dec 13 2018 11:49:31

  New Zealand’s Financial Markets Authority (FMA) has updated its warning list of unregistered businesses and suspected scams with WiseBanc, Solid Global Investment Ltd. and Bitcoin Revolution earlier this week.   WiseBanc (operating via the www.wisebanc. Read more

Italy's CONSOB blacklists forex broker Capital Swiss FX

Dec 11 2018 14:30:54

  Italy's financial markets regulator Commissione Nazionale per le Societa e la Borsa (CONSOB) has updated its warning list with offshore forex broker Capital Swiss FX on Monday. Read more

The FCA considers banning binary options and restricting CFD trading permanently

Dec 07 2018 10:12:02

  The UK Financial Conduct Authority (FCA) has proposed permanent ban on binary options, as well as permanent restriction on the sale, marketing and distribution of contracts for difference (CFDs) and similar products to retail investors. Read more

UK’s FCA updates its warning list with Easy FX Trade and TradeBNP

Dec 05 2018 14:24:51

  The UK’s Financial Conduct Authority (FCA) added to more unregulated brokers to its warning list: Easy FX Trade and TradeBNP. According to the regulator, neither of them is authorized to provide financial services in the UK, but they are nonetheless targeting local investors. Read more

BaFin orders FXCM clone to cease operations

Dec 04 2018 16:18:15

  The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has ordered FXC Markets to immediately cease offering investment services and advice to German investors. Read more

ASIC cancels the license of forex broker Berndale Capital

Dec 03 2018 12:43:20

  The Australian Securities and Investments Commission (ASIC) announced it has cancelled the license of Melbourne based forex and CFD broker Berndale Capital. ASIC found that the broker failed to comply with a number of requirements it has pursuant to Australian laws. Read more

UK's FCA warns of Cryptonix Team / VIP Crypto

Nov 30 2018 15:13:09

  The UK’s Financial Conduct Authority (FCA) added Cryptonix Team and VIP Crypto to its alert list on Friday. The UK financial watchdog warned investors to be especially wary of dealing with these unregulated brokerage brands, which are operated by an unauthorised firm. Read more

Financial authorities of Australia and New Zealand warn against BrighterTrade

Nov 29 2018 15:38:44

  Estonian forex brokerage BrighterTrade has recently been blacklisted by two financial watchdogs – the the Australian Securities and Investment Commission (ASIC) and New Zealand’s Financial Markets Authority (FMA). Read more

Germany’s BaFin ordered UB4Trade to cease trading operations

Nov 28 2018 10:29:16

  The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has ordered UB4Trade to cease offering cross-border proprietary trading services to German investors. Read more

de | cn | ru