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Pepperstone Targets Eastern Europe, Opens Office in Ukraine

Pepperstone, the Forex broker operating out of Australia, is looking at the Forex market of Eastern Europe: the company has opened a brand new office in Ukraine's Odessa. 

 
The news is somewhat surprising, as the company has not made a move towards global expansion after the launch of an office in China's Shanghai in February 2013. Ukraine is an interesting pick for a Forex business and there seems to be solid rationale for Pepperstone's choice. First, as the latest study by UCRFIN, the non-government association, shows, the Ukrainian Forex market is growing by 10-15% a year.
 
Then, there is the fact that there are no local Forex brokers and that Russian companies are mainly present.  Given that Russian companies have no state regulation to rely on and to respond to, Pepperstone will provide some serious competition thanks to its license from the Australian Securties and Investment Commission (ASIC).
 
Talking of Forex oversight, state regulation of the industry is on its way in Ukraine: the rules have been drafted by the UCRFIN but have to be harmonized with the European Directive MiFID. The latter seems to be a problem amid the diplomatic crisis between Kiev and Brussels.
 
One more thing to note is that the new office, with a physical address at Odessa, Ukraine, str. Zhukovskogo 33, fl. 5, will service all Russian-speaking clients. This said, it's worth noting that the company has also launched a website in Russian (pepperstone.ru). It's obviously targeting one of the widest Forex markets in the world.
 
Last but not least, it's worth noting that the expansion comes as speculation grows about a future initial public offering of Pepperstone. The rumors first surfaced in September 2013 and then gained momentum in the end of October with the hiring of Berkshire Capital to advise the broker on its future strategic moves. 
 

About Pepperstone Financial

 
Pepperstone Financial Pty Ltd provides Forex trading capabilities to retail, high-net worth and institutional clients around the world. The company provides access to fair, competitive and transparent pricing across all major currency pairs by equipping traders with best-in-class trading technology and customer service. The company is headquartered in Melbourne, Australia. 
Pepperstone Financial Pty Ltd is a corporate authorised representative, CAR No. 389931 of CDM Pacific Pty Ltd which holds an Australian Financial Services License (AFSL 223682) issued and regulated by the Australian Securities and Investment Commission (ASIC).
TAGS: pepperstone  pepperstone forex broker  australia forex broker  forex market  forex broker office  ukraine new office  odessa  ukraine forex  russia website  russian forex  corporate structure 

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