de | cn | ru

Market News

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 

More news about IronFX Global

Broker Country Regulation Platform Min Deposit Review
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia ASIC MT4, MT5,
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
$100 Review Website

More Forex Market News

Arsenal will partner with Global Kapital Group

Sep 20 2019 17:16:28

English Premier League football club Arsenal will partner with Global Kapital Group, which owns several forex and CFD brokers including GK Pro (formerly known as GKFX), GKFX Prime and GK Invest. Read more

SEC accused Mediatrix Capital of $125 mln Ponzi scheme

Sep 19 2019 16:46:45

Mediatrix Capital, which claimed that its clients profited for 5 consecutive years without a single monthly loss, and which also was awarded as the Best Family Office Asset Manager in Monaco, is now been accused by U.S. Securities and Exchange Commission (SEC) of running a Ponzi scheme. Read more

Germany will block Facebook's Libra

Sep 18 2019 17:13:56

This time it was the German government, who delivered yet another blow to Libra, the Facebook backed stable coin, that is planned to be launched in 2020. Read more

Facebook assures central banks not to fear Libra

Sep 17 2019 17:23:34

Facebook reassured world central banks that Libra, the new stable coin the social media giant plans to launch in 2020, will not replace sovereign currencies like the U.S. dollar or the Euro, and will not threaten the central banks’ control over money creation. Read more

Philippine police arrests 277 employees in connection to a forex scam

Sep 16 2019 17:33:44

Acting on a tip from the Chinese intelligence agency the Philippine police has arrested 277 Chinese nationals working for online forex and crypto scammers. Read more

FCA prepares for a no deal Brexit

Sep 12 2019 17:05:09

The Financial Conduct Authority (FCA) in the UK has opened an emergency phone line (+44 800 048 4255), as well as a series of specialized information websites that are intended to help the financial sector cope with the possible consequences of a no deal Brexit. Read more

Police in Taiwan warns of forex scams on dating websites

Sep 11 2019 14:08:40

The Criminal Investigation Bureau (CIB) in Taiwan warns of a new wave of investment scams on dating and chat websites, featuring a case of a man who lost over 4 million Taiwanese Dollars (128 000 USD). Read more

The Marshall Islands launches a sovereign crypto coin

Sep 04 2019 16:57:05

The Marshall Islands, the small Pacific nation that is also a favorite offshore destination for many brokers that prefer to avoid the strict regulations in Europe, the U.S. Read more

Dutch authorities to regulate all crypto dealing firms

Sep 03 2019 13:43:03

The Dutch Central Bank announced new rules for all companies dealing with crypto currencies that will take effect from January 2020. Read more

Ex-BinaryBook employee sentenced to a year in prison in the US

Sep 02 2019 14:26:10

  Israeli binary options operative Lissa Mel pled guilty to her role in $145 million scam scheme, and was sentenced to a year in prison and $288 024 in restitution to victims by a US federal court previous week. Read more

de | cn | ru