MultiBank Opens LATAM Headquarters in Mexico

Retail broker MultiBank told Finance Magnates on Tuesday that it has opened a new office in Mexico as part of its efforts at expansion in Latin America.

The office is based in Monterrey and will serve as the headquarters for MultiBank LATAM - the group's Latin American subsidiary.

“It is vital for the success of our business that we put our customers first, to help them achieve their investment and trading goals,” said Jorge Alberto González, the CEO of MultiBank LATAM.

‘’That is why we give all our clients the necessary tools and support they require to make the best trading decision on the 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 market."

Oh Mexico

MultiBank's expansion into Latin America comes amidst growing interest in the region.

Though Southeast Asia and parts of Africa have already attracted sizeable interest from the retail industry, Latin America has been largely left alone.

An executive at one major broker that Finance Magnates spoke to said that expanding in the region has been tough.

"For us it's a total unknown," said the executive. "We haven't even tried to do anything there yet because we've struggled to find local partners or even understand if there is a market for our products there."

That MultiBank has been able to do so is impressive.

It also means the broker now has offices in twenty cities around the world, ranging from Barcelona to Sydney and Shanghai to Istanbul.