iFOREX Group, a top global financial services group, has renamed its European contract for difference (CFD) brokerage brand Vestle, which is based in Cyprus, to iFOREX Europe.
The group had renamed the subsidiary from iFOREX to Vestle in 2018 in the wake of strict European Union regulations including leverage limits for CFD brokers.
On Thursday, the group announced it formally taking the decision to bring all its European operations under the iFOREX brand umbrella in May.
It added that the decision was “intended to better represent the global market access the iFOREX Group offers traders all over the world.”
“Our emergence in Europe has been recognized by the iFOREX Group, whose 25 years of global market experience will continue to guide our success on the continent,” iForex Europe announced on its newly-rebranded website.
A spokesperson for iCFD Limited, the operator of Vestle, noted that the European rebranding is aimed at offering the group’s “valued European clients even more in terms of market access, trading assets, improved spreads and an overall globally-focused trading experience.”
However, iCFD noted that over 750 financial instruments including forex, cryptocurrencies , shares, indices, commodities and exchange-traded funds remain available to its clients across Europe.
Recent Rebrandings
Since the beginning of 2022, a number of brokerages in the CFD industry have rebranded their trading platforms.
In August, the global broker, OctaFX rebranded its look to mark its 11th anniversary. The broker adopted a fresh new look with refined colours, spaced-inspired elements and a new logo.
In July, the Netherlands-based neobroker, BUX rebranded BUX X, its CFD trading platform, to Stryk. It said the move was primarily to differentiate its distinct services.
Finance Magnates reports that the rebranding follows BUX’s aggressive expansion of the reach of BUX X and BUX Zero, its zero-fee training app.
Furthermore, in May, HotForex rebranded to HFM to “accurately reflect the diverse trading environment it offers its 3.5 million live account holders.”
HotForex's rebranding comes a month after FXPrimus rebranded after 12 years of operations. The broker said the move was part of its broader mission to bolster its digital and mobile presence in 2022.
“From start to finish, the client will notice the greater speed, faster loading and quicker execution,” a FXPRIMUS spokesperson told Finance Magnates.
Additionally, in March, City Index, a CFD and forex trading services provider, rebranded after opening a new office in Australia.
