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IronFX Aims to Open 30 New Offices Globally in 2014

IronFX, the Cyprus-based Forex broker, turned into the living proof of the concept of global expansion in 2013, as it ended the year with 55 offices globally and a bunch of regulatory approvals. And while we expected that the company will settle down and focus on some of these local operations, IronFX showed us that we were wrong and has announced even more ambitious plans for this year: the broker plans to set up 30 (wow!) new offices across the globe in 2014. 
 
And although we don't know all of the destinations in the to-do list of the broker, we managed to get a glimpse into the names of some of the locations of IronFX's future premises. Here is the list:
 
- Almaty (Kazakhstan);
- Santiago (Chile);
- Milan (Italy);
- Vladivostok (Russia);
- Bangkok (Thailand);
- Dubai (UAE);
- Dhaka (Bangladesh);
- Minsk (Belarus);
- Kiev (Ukraine);
- Tokyo (Japan).
 
A common characteristic of all of these locations, apart from Japan's capital (obviously) and Italy's Milan, is that they are all in emerging markets for the Forex industry and hence represent a very lucrative opportunity for the broker to profit from a growing interest into online trading and also from low penetration of other Forex brokers into these markets. Let's remind you that the latest addition to the office lineup was in Nigeria's Lagos: and that was not a random occurrence, as Nigeria is also an emerging market for the Forex sector. 
 
Let's keep exploring the list: Santiago does not make an exception to the emerging markets trend, and the interest of Forex brokers in Chile is apparently on the rise. You may recall that FIBO Group set up an office in the Chilean capital just a couple of days ago. 
 
The planned offices in Russia, Ukraine and Belarus target a wide number of traders – however, none of these countries offers state-centered regulation of the Forex industry. Russia's legislative process has stuck and the Forex bill has not moved an inch after its first reading in June 2013. Even more oddly, it's Belarus that may introduce a Forex law first amid these three countries.
 
What perhaps is of interest is how a Forex broker manages to maintain such a high number of offices in various locations. Well, let's note that not all of the offices are actually full-blown headquarters with staff and comprehensive services. Some of them are simply serviced ones – they just accept correspondence for the company, while many others are manned – services in them are provided by a representative, subsidiary or associated entities.  
 
However, we cannot deny that IronFX is treating its presence in some countries rather seriously: for instance, the broker is a member of Russia's Forex self-regulatory organization CRFIN – thus underpinning its position in this large Forex market. 
 
Last (but not least), it's worth noting that along with the growing number of offices, the company beefs up its workforce. By the end of 2014, the staff count is set to nearly double to 1,400 employees. 
 
 

About IronFX

 
IronFX is a Cyprus-based broker, regulated by CySec and specializing in Forex, CFDs on US and UK stocks, commodities, spot metals and binary options. The company was established in 2010 by an experienced team of Forex specialists and software experts aiming to create and offering an online trading environment with “One Account, Ten Platforms” trading functionality. Using the Meta Trader 4 (MT4) platform as a trading platform basis, combined with substantial in-house development, IronFX offers full access to strong liquidity, fast execution and a wide range of trading instruments, with spreads starting from 0 pips.
TAGS: ironfx  ironfx forex broker  cyprus forex broker  forex market  global offices  forex broker office  new offices 2014  forex expansion  russia  italy  japan  bangladesh  chile 

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