Exclusive: HotForex Expands Operations, Launches in the UAE

HF Markets, which is also commonly known by its trading name HotForex, has revealed exclusively to Finance Magnates that it has expanded its operations to the United Arab Emirates.

The newly-launched operations in the country follow HotForex, a foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) and contracts for difference (CFD) brokerage, acquiring a Dubai Financial Services Authority (DFSA) license (F004885) on December 12, 2018.

HF Markets (DIFC) Ltd, the official name of the group’s operations in UAE, is located in Dubai’s Index Tower. According to the statement, HotForex is now ready to offer its retail and professional trading services to clients in the Middle East and North Africa region.

Commenting on the launch, George Koumantaris, the Chief Executive Officer (CEO) of HF Markets Group said: “this is an important milestone for HF Markets. The UAE and the GCC offer very promising business prospects and we look forward to great success."

“The DIFC, through its reliable and strong governance, compliance and transparent structure, will strongly support our new entry to the region.”

HF Markets (DIFC) Ltd, is part of HF Markets Group, which is more commonly referred to by its two trading names HotForex and HF Markets. The group is a conglomerate, including global and regulated multi-asset brokers. The group has operations in the United Kingdom, Cyprus, South Africa and more.

“HF Markets offers a broad range of financial products and invests heavily in educational seminars and workshops. We are very confident that through our newly acquired DFSA License, and our competitive pricing and state of the art technology, HF Markets will expand further into positioning itself as a market leader in the region,” added Andreas Lazarou, the CEO of HF Markets (DIFC).

Brokers eye the Middle East

In recent years, more and more European and UK-based brokers are popping up in the UAE and the Middle East in general. This is largely because the GCC (Gulf Cooperation Council) region is wanting to make their economies less dependant on oil.

This has put the UAE at a turning point in its economic evolution, paving the way for trading opportunities within the retail sector.