Equiti Group secures CySEC license to expand into Europe

Rick Steves

“Regulation and good governance have always been and will continue to be a key part of Equiti’s business model.”

Equiti Group has secured an operating license from the Cyprus Securities and Exchange Commission (CySEC), the provider of online trading technology and multi-asset financial products announced.

The CySEC license – Equiti Group’s eighth regulatory license – was awarded to the group’s local entity Equiti Global Markets Ltd, which is registered in Cyprus, and is a significant milestone in its ambitious global growth strategy.

Hesham Hasanin named CEO of CySEC-authorized Equiti Global Markets Ltd

Hesham Hasanin, who has been Executive Director of the group’s EGM Labs in Cyprus since mid-2020, was appointed Chief Executive Officer of the CySEC-authorized entity, Equiti Global Markets Ltd.

While in charge of setting up Equiti’s Cyprus-based operation, Hesham Hasanin was also Global Head of Trading Solutions at Equiti Group.

He is an expert in FX trading platform administration, including MetaTrader 4, MetaTrader 5. His 18-year career within the FX industry saw him as MT4 and Vertex platform administrator at UK-based Citypoint Trading as well as Executive Director – Chief Technology Officer at Limassol-based Skopalino Finance, and Platform Administrator – RTO at ValuTrades CY.

Other rules include CTO at Crown Information Technology, CTO at Basel Financial, CTO at Crown Forex SA, and Platform Administrator at Jura Financial.

“Our CySEC license gives our clients peace of mind”

Iskandar Najjar, Chief Executive Officer at Equiti Group, said: “We are excited to be awarded our new CySEC license that allows us to extend our business-to-business offering in a secure, regulated manner to clients in Europe.

“Our CySEC license gives our clients peace of mind by knowing that they are with a global broker in Europe that they can trust and that with CySEC’s regulatory oversight, strict financial market regulatory standards are adhered to.

“Regulation and good governance have always been and will continue to be a key part of Equiti’s business model.”

Equiti Group has several regulated entities spread across the globe, including:

  • Equiti Capital UK Ltd, regulated by the UK’s Financial Conduct Authority (FCA);
  • Equiti Securities Currencies Brokers LL, regulated by the UAE’s Securities and Commodities Authority (SCA);
  • Equiti Brokerage (Seychelles) regulated by the Seychelles Financial Services Authority;
  • EGM Securities Ltd regulated by Kenya’s Capital Markets Authority (CMA);
  • Equiti Group Limited Jordan LLC, regulated by the Jordan Securities Commission (JSC);
  • EGM Futures DMCC, regulated by the UAE’s Securities and Commodities Authority (SCA); and
  • Equiti AM CJSC regulated by the Central Bank of Armenia.

Read this next

Retail FX

Malaysia regulator exposes OctaFX clone, shady FB profiles

Malaysia’s financial regulator today warned online investors about the risks of following investment tips made on social-media platforms.

Digital Assets

Crypto trading volume spikes at Swiss bourse amid FTX collapse

The shockwaves from the historic collapse of Sam Bankman-Fried’s crypto empire are still being felt across the industry, but some trading venues are actually doing better because of it.

Executive Moves

CMC Markets adds Camilla Boldracchi to institutional sales

UK’s biggest spread better, CMC Markets has promoted Camilla Boldracchi to take on an expanded role within its institutional sales desk.

Institutional FX

FXSpotStream reports $1.48 trillion in monthly volume for November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2022, which moved higher on a yearly basis but reflected weak performance across executed trade volumes when weighed against the figures of the prior month.

Retail FX

Interactive Brokers’ client activity drops 30% YoY

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.95 million daily average revenue trades, or DARTS, in November 2022 compared to 1.96 million transactions in the prior month.

Digital Assets

The rise of Crypto ETPs in traditional exchanges as crypto winter deepens

Institutional investors are increasingly looking at traditional regulated exchanges as their first route into digital assets amid market turmoil caused by the crypto winter and the collapse of several big names within the space, including FTX. Acuiti and Eurex surveyed 191 buy and sell-side firms on their views of the digital assets markets in order […]

Digital Assets

TP ICAP’s crypto arm receives FCA’s go-ahead

UK interdealer broker TP ICAP has received a regulatory go-ahead to launch its cryptocurrency services in the UK. The bid shows that the recent collapse of FTX exchange has done little to damp the interest of big names in running their own crypto business.

Industry News

Coin Signals founder to pay $2,847,743 after prison sentence over crypto Ponzi scam

The U. S. District Court for the Southern District of New York has ordered Jeremy Spence, founder of Coin Signals, to pay $2,847,743 in restitution to victims of a fraudulent virtual currency scheme.

Digital Assets

CME Group goes DeFi: Reference rates and real-time indices of Aave, Curve, Synthetix

“These rates are designed to provide traders, institutions and other users transparency and price discovery across a much broader range of tokens, allowing them to confidently and more accurately value cryptocurrency sector specific portfolios and manage price risk around various blockchain-based projects.”