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FXOpen Sets up New Office in Egypt

FXOpen, the Forex broker originally based in New Zealand, has announced the launch of a new office in Egypt's capital Cairo. The new premises will be located on the 19th floor of the World Trade Center, a central venue in the Egyptian capital.

 

The official opening of the new office will happen on April 29, 2014, and will coincide with the start of a series of Forex trading seminars. The sessions will cover various topics, ranging from some Forex basics to a live presentation on how to trade around a FOMC meeting. The seminars will be attended by experts in the field and signify how FXOpen sticks to traditions, as the broker started its operations as a Forex educational center in 2003. 

 

Talking about traditions, we should also mention that FXOpen has always recognized the importance of special services for the Islamic world that would be in tune with the Sharia laws. That is why Islamic, or swap-free, accounts represent a prominent offer in the service lineup of the company. The experience of the broker with Islamic clientele and the respect for its traditions would be a huge advantage for the new office in Cairo. For that matter, you may know that 90% of the Egyptian population are Islamic.

 

The launch of the new office comes amid growing interest by Forex brokers into the Middle East and North Africa (MENA) region. Cyprus-based XM is currently on a Forex training tour in the region and will come to Egypt in June, to mention at least one example. The competition amid brokers is not yet tight in Egypt, by the way. There are not that many overseas brokers that offer their services in the country – the sole name that comes to my mind now is that of FXCM MENA. The bulk of Forex brokers in Egypt appear to be local.

 

FXOpen now sets its foot in a booming market – the population of Egypt has been growing over the past years and is now at 84.55 million people. It is set to grow further in the years to come, fueling various segments of the national economy.

 

 

About FXOpen

 

FXOpen is a global Forex broker, registered in New Zealand. Unlike so many brokerages founded on commercial incentives FXOpen grew from bottom up and started as an educational center. It launched brokerage services in 2005 and has ever since focused on traders' interests. FXOpen was also the first one to realize that what traders really needed were Micro accounts and that the Islamic audience required a special type of Shari’a compliant accounts. 

Working from the very beginning with the world’s most wide-spread and user-friendly trading platform MetaTrader (MT4) FXOpen had gained the deepest knowledge possible about the technology. In 2009, the first ever MT4 ECN trading platform, coupled with 0.1 minimum lot, super-fast execution and advanced Money Management technology (PAMM accounts), was introduced to the market, thus, completing the ECN technological revolution in the MT4 FOREX trading environment.

 

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