FX broker CPT Markets Announces New Office In Cyprus

CPT Markets, a company and broker that offers Forex and Contracts for Differences investment services, has established a new office in Cyprus. The company plans to expand its offerings to Europe. The new Cyprus office is the first in the company’s aim to establish itself in Europe.

Ioan Mihalachi Will Lead The New Office In Cyprus

CPT Markets announced that Ioan Mihalachi will lead this new office. It has also employed 15 staff across several divisions, including support, operations, payments, back office, compliance, and the management of risks.

Mihalachi is the Chief Operating Officer of CPT Markets. At the beginning of the year, he joined the company’s team from Multibank, where he was the Chief Executive Officer of the company’s Cyprus unit. CPT Markets revealed that Mihalachi’s 14 years of experience will significantly benefit the company in terms of his role.

Mihalachi stated that Cyprus has been a significant location for the financial services sector. He added that the country has many seasoned experts in the trading sector, so it is a favorite location for many brokers.

Mihalachi spoke more about the investment benefits in Cyprus. He noted that the new office is established to ensure that all units of CPT Markets are effectively operational.

CPT Markets provides trading services for retail traders. It offers margin forex and contracts for Differences (CFDs) for cryptocurrencies, stocks, commodities, and indices. However, the types of products available can vary depending on the region.

The Broker Aims For A Cyprus License From The CySEC

CPT Markets holds five licenses from South Africa, the United Kingdom, and Belize regulators. However, it has not been licensed to operate in the European Union. It wants to receive a Cyprus Investment Firm license from the financial regulatory body, the Cyprus Securities and Exchange Commission.

According to the update, the brokerage firm confirmed in 2023 that its revenue in the United Kingdom unit rose to £1.15 million.

CPT Markets provides traders with many types of investment accounts. The Prime and Classic accounts offer no commission trading with floating spreads. Furthermore, the ECN account type enables individuals to trade with raw spreads starting from 0.1 pips and offers them a $5 round-turn commission.

The broker is overseen by the Financial Conduct Authority (FCA UK) and follows market rules of financial control. It allows people to trade different types of assets. It also includes all new safety and secret steps to keep traders’ money safe.