Forex brokers continue to flock to Cyprus as a base for EU operations.

LeapRate Exclusive… It seems as though Cyprus has not lost any of its cache, as a desirable and respected destination for forex brokers looking for a beachhead in the EU market.

LeapRate has learned that New Zealand / Russian forex broker Trendoks has become the latest international firm to receive a CySEC CIF license, and will soon be opening offices in Limassol. Trendoks runs both the cTrader ECN platform, and MT4.

While we have seen some Cyprus forex brokers (such as ForexTime and Liquid Markets) open offices outside the country, primarily in London, in an attempt to rebrand as ‘pan-European’ firms, there has been little to no slowdown of foreign brokers looking to Cyprus as an attractive EU home base. Trendoks’ New Zealand counterpart FXGlobe received a CySEC license earlier this summer.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.