Tadawul FX opens a representative office in Hungary

It's a PR hardly worth mentioning (although it's an extremely funny read) but it's interesting because another broker targets Eastern Europe. This adds to Saxo Bank and FXCM's efforts in the region. Saxo has offices in Athens and Prague and FXCM has office in Athens and a Czech White Label.

While I'm not very familiar with the Hungarian 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 I doubt if it's any big right now. The only broker I'm aware of is BP Forex (which is an IB for WHSelfInvest - another tiny broker) and seems to be using PFSoft's Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term.

I have to say that TDFX's PR is full of hyperboles like no other. I highlighted the most interesting parts...

Ramzi Chamat, CEO of Tadawul FX, often referred to as TDFX, explained how necessary it was to keep up with the developing European markets, even if such development was occurring at a more rapid rate than expected. Indeed, it is a couple of years ago that the Tadawul FX head offices were moved from Switzerland to Cyprus to cope with growing demand. (Ramzi forgot to mention that he probably moved to Cyprus because the regulation there is much lenient and far more cheaper - MG).

"We at Tadawul FX have always maintained the highest level of online forex services to our traders. If the market increases, we are obligated to fulfill our promise of being a provider of a comprehensive range of forex trading services, regardless of where that interest originates."

"Hungary is a country of extreme potential and with its exponential growth rate over the past twelve months and increased interest in Tadawul FX as a result of that growth, the decision was not a difficult one.

It is a bold move in an industry fraught with instability, and yet Ramzi remains unphased.

"Tadawul FX has already established a reputation for itself as a reliable, consistent and safe forex broker. It is a leader in the forex trading industry with its provision of state-of-the-art technology, outstanding customer service, and desirable products and services." Ramzi says. "We are extremely happy to be able to extend this offering further in Eastern Europe via the Hungarian gateway."

An online forex broker which is both licensed and regulated, Tadawul FX will provide customer support around the clock in Hungary, employing a team of forex and finance specialists recruited locally.

With Hungarian trading accounts and procedures occurring in the local language, customer support in Hungary will be available 24 hours a day. Ramzi believes that the round the clock support is essential to the success of the TDFX Budapest representative offices, located in the exclusive business centre, Capital Square in Váci út.

Heading up the team is office manager Erika Óvári.