FxPro has opened a new office in Dubai, increasing its presence in the Middle East and North Africa (MENA) region. There is a reason why many brokers and crypto exchanges have begun operating in the region.
Dubai Virtual Asset Regulatory Authority (VARA) was launched by Sheikh Mohammed bin Rashid Al Maktoum. As some regulatory framework has been built it is likely to attract greater investments.
While cryptocurrency companies are benefitting the most from local investments some are expecting it to spill over to the Forex industry. It may explain why many companies are opening offices in Dubai.
FxPro's CEO, Charalambos Psimolophitis said: "This is an exciting milestone in the company’s history. The office helps us to meet the needs of our clients and partners in the region, who can attend meetings and stay up-to-date on all the latest trends and developments in the global financial markets.”
FxPro Partnerships and ETFs
In the second half of 2021, FxPro began constructing its new offices at Lyford Cay, Bahamas. FxPro was granted a regulatory license in the Bahamas for its BankPro.
'The unique selling point of BankPro is that it is entirely digital. Customers will open an online account and conduct all their transactions using their smart devices. A key advantage for BankPro is that we offer standard banking services alongside trading and digital investing on thousands of stocks.'
At the beginning of 2022, FxPro added 33 exchange-traded funds (ETFs) to its CFD products. The broker is providing leverage of 1:5 on ETFs.
The broker extended its partnership with McLaren F1 by 3 years in late November. The partnership between FxPro and McLaren began in 2018.
