FxPro Relocates to Dubai in MENA Market Dash

<p>Two months
after unveiling its new Dubai office, FxPro, a forex and contracts for
difference (CFD) broker regulated in the UK, Cyprus and South Africa, has
finally relocated to the United Arab Emirates (UAE). The company announced the
move today (Thursday), noting that the action is part of an ongoing commitment
to expand its business operations in the Middle East and North Africa (MENA)
region. </p><p>FxPro
Catches the MENA Wave</p><p>When FxPro
first announced <a href="https://www.financemagnates.com/forex/brokers/fxpro-unveils-new-dubai-office-amid-regional-expansion/" target="_blank" rel="follow">the opening of its
Dubai office</a> earlier in
June, the online trading provider noted that it decided on the move to bring
its services closer to retail and institutional clients in the region. Last
year, FxPro also opened a representative office in Dubai,
which is the global
city and business hub of the Middle East.</p><p>“We are
excited about the move to our new office in Dubai,” Elsy Rayess, FxPro's Head
of Business Development, said in <a href="https://www.fxpro.com/press-releases/fxpro-moves-to-new-dubai-office" target="_blank" rel="follow">a statement</a>. “This location positions us at
the heart of the region's financial hub, allowing us to serve our customers
more efficiently.”</p><p>In June,
FxPro made <a href="https://www.financemagnates.com/forex/fxpro-adds-crypto-cfds-to-ctrader-accounts/" target="_blank" rel="follow">a range of 28 crypto
CFDs</a>, including
Bitcoin, Ether and XRP, available on its platform all day long, every day. It
also announced a reduction in spreads on the new instruments. </p><p>As early as
2021, the broker made it
possible for its traders <a href="https://www.financemagnates.com/forex/brokers/fxpro-launches-weekend-cryptocurrency-cfds-trading/" target="_blank" rel="follow">to manage their crypto
CFD positions on weekends</a>. Yet, the FxPro wants more and plans to expand
its offerings in addition to a new range of account types.</p><p>Businesses
Jump on the MENA Train</p><p>In recent
years, Dubia, the UAE and the wider MENA region have emerged as an attractive
market and operations base for many businesses. This year alone, several forex
brokers, including <a href="https://www.financemagnates.com/institutional-forex/cmc-markets-expands-dubai-operations-eyes-growth-in-middle-east/" target="_blank" rel="follow">CMC Markets</a>, <a href="https://www.financemagnates.com/forex/atfx-solidifies-middle-east-presence-with-new-uae-license/" target="_blank" rel="follow">ATFX</a>, <a href="https://www.financemagnates.com/forex/moneta-markets-enters-dubai-with-its-ongoing-expansion-drive/" target="_blank" rel="follow">Moneta Markets</a> and <a href="https://www.financemagnates.com/forex/plus500-strengthens-mena-presence-with-new-dfsa-license/" target="_blank" rel="follow">Plus500</a>, have either launched or consolidated
their operations or obtained a license to conduct business in the region.
Earlier this week, CFI also <a href="https://www.financemagnates.com/forex/cfi-further-expands-presence-in-mena-region-opens-cfi-palestine/" target="_blank" rel="follow">unveiled a new
subsidiary in Palestine</a>, expanding its presence in MENA.</p><p>In recent
months, several forex and CFDs brokers such as <a href="https://www.financemagnates.com/executives/moves/zenfinex-strengthens-mena-team-with-new-sales-head/" target="_blank" rel="follow">Zenfinix</a>, <a href="https://www.financemagnates.com/executives/moves/triomarkets-plans-mena-expansion-with-new-regional-ceo-onboard/" target="_blank" rel="follow">TrioMarkets</a>,
<a href="https://www.financemagnates.com/executives/scope-markets-eyes-mena-hires-equitis-vp-as-sales-manager-for-region/" target="_blank" rel="follow">Scope Markets</a> and <a href="https://www.financemagnates.com/executives/moves/xscom-adds-ahmed-negm-as-mena-market-research-head/" target="_blank" rel="follow">XS.com</a>, also bolstered their teams in
the jurisdiction with new
hires. Additionally, crypto companies are <a href="https://www.financemagnates.com/cryptocurrency/laser-digital-joins-aftx-and-cmc-markets-in-dubai-crypto-push-gains-vasp-license/" target="_blank" rel="follow">chasing virtual asset
service provider licenses in the UAE</a>, which is increasingly becoming a crypto
hub. </p><p>Equiti enters Qatar; Swiss Finance Corp adds LumeFX; <a href="https://www.financemagnates.com/forex/news-nuggets-24-august-equiti-enters-qatar-swiss-finance-corp-adds-lumefx/" target="_blank" rel="follow">read today's news nuggets</a>.</p>

This article was written by Solomon Oladipupo at www.financemagnates.com.