Equiti sets up office in Cyprus to offer CySEC-regulated solutions to European brokers

Rick Steves

Equiti Group has announced the opening of its latest regulated European office, in Cyprus, located at 2nd Floor, Frema Plaza, 39 Kolonakiou Street, Limassol.

The new office in Limassol will help Equiti Group execute its expansion strategy in the European Union as part of its wider global geographical expansion plans for the next three years, which will see the company acquire licenses in other new markets around the world.

This is Equiti’s 10th office and the brokerage firm’s latest CySEC license is its seventh license as the group is spread across the globe, with offices in Europe, the UK, the Middle East, the Americas, Africa, and the Asia Pacific regions to provide trading support and services on the renowned trading platforms MT4 and MT5.

Equiti Group comprises of a number of regulated entities including:

  • Equiti Capital UK Ltd regulated by the UK’s Financial Conduct Authority
  • Equiti Securities Currencies Brokers LLC regulated and licensed by the UAE’s Securities and Commodities Authority
  • Equiti Group Limited Jordan, regulated and licensed by the Jordan Securities Commission
  • EGM Securities Ltd regulated and licensed by Kenya’s Capital Markets Authority
  • Equiti Brokerage (Seychelles) Limited regulated and licensed by the Seychelles Financial Services Authority
  • Equiti AM CJSC, regulated and licensed by the Central Bank of Armenia
  • Equiti Global Markets Ltd regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC)

Equiti’s B2B offering for FX broker community in Europe

“Equiti’s new office in Limassol is a major milestone for the Group and a significant part of our global growth strategy”, said Mohamed Alahmad, Co-founder and Chief Managing Director of Equiti Group, at the official office opening event. “We are thrilled to now have a regulated operation in Cyprus to provide our global business-to-business (B2B) offering to brokers in Europe under the strict oversight of the local regulator, the Cyprus Securities and Exchange Commission (CySEC).

“Cyprus’ location in Europe, its EU membership, its flourishing fintech and FX broker community, investor-friendly environment, and its respected market regulator, CySEC, makes the country an ideal place for Equiti to be to support our brokers in Europe. Our new Limassol office will draw on the strength of our global network and award-winning tailored liquidity solutions that have positioned us among the top seven liquidity providers in our industry”, he added.

Hesham Hasanin, CEO of Equiti Global Markets in Cyprus, said: “We are very excited to be in Limassol and have access to its large pool of talented people to expand our business in Europe. The welcoming hospitability and support of the local community and our partners in Limassol has been remarkable. We look forward to contributing to the country by mirroring our successes in other markets.”

Equiti secured the CySEC license last month after having set up a local effort in mid-2020 led by Hesham Hasanin, who is now the CEO of the CySEC-authorized Equiti Global Markets Ltd. While in charge of setting up Equiti’s Cyprus-based operation, he 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.

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