(ATFX), a leading online trading platform, announced on Wednesday that it has opened its first office in the United Arab Emirates, located in the country’s capital Abu Dhabi. This is the latest step in the company’s strategic plan to increase its footprint in the Middle East.
Specifically, the new office is located in Al Maqam Tower, which is located in ADGM Square on Al Maryah Island. The move follows the firm receiving its licence to operate in the Abu Dhabi Global Market (ADGM) from the Financial Services Regulatory Authority (FSRA) in March this year.
ATFX to continue Middle East expansion
With the office opened, the firm is now looking towards expansion. According to the statement, it plans to cover more ground in the Middle East by 2019. In the region, ATFX AE plans to host seminars and trading education for investors on a regular basis. The firm also wants to conduct a roundtable discussion on the latest market trends and analysis methodologies.
The opening of the office in Abu Dhabi is no surprise. In fact, the company has been working towards this for months. In June of this year, that ATFX had named Tsui as its CEO for its AE operations.
At the time of his appointment, Tsui identified that the Middle Eastern financial market was at a turning point. This is because the GCC region is wanting to diversify their economies away from oil. As a result, the UAE is at a key stage in its economic evolution which has seen an uptick in retail trading.
In July, ATFX AE also announced that it had appointed . The new hires are Ramy Salah Mohamed Abouzaid, who will be the Financial Market Strategist for the UAE office and Reem Rabia is joining as the Marketing Manager for the company.
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