Online CFD broker Pepperstone announced its licensure by the Cyprus Securities and Exchange Commission (CySec) last week, which will enable it to offer regulated trading services to European traders. The Australian-based Forex broker was already licensed to operate in Australia, the United Kingdom, Dubai, Kenya and the Bahamas, and has now confirmed its expansion to the European market, solidifying its place among most regulated brokers in the world.
Although Europe is currently plagued by uncertainties surrounding Brexit, Pepperstone remains undaunted and pledges to intensify efforts to provide value to clients. “We’re now pleased to be officially operational under our Cypriot license,” said Victor Zachariades, Pepperstone's Head of Cyprus. “Our European operations ensure we’re well-placed to deliver our global commitment to our clients while providing products and services people can trust.”
Pepperstone's expansion comes during difficult times, as COVID-19 continues to batter the global economy and rob people worldwide of their jobs. Many smaller Forex brokers have struggled, but Pepperstone's expansion is a testament to its strength. Still, it can be argued that these uncertain times are a perfect time for the company to expand, as Forex trading has surged in popularity since the start of the pandemic, with millions of traders worldwide looking to supplement their income and taking advantage of the extra time they have at home to focus on the markets. By some estimates, Forex trading has increased by 300 percent since the start of the pandemic, creating the perfect opportunity for brokers to enter new markets.
Since its inception in 2010, Pepperstone has become widely recognized as one of the industry's leading online CFD brokers and a world-class MetaTrader broker. The past two years have been particularly accelerative for the company, as Pepperstone has more than doubled its global operations.
“It’s been a huge year for the business. We’ve launched a number of offices in multiple jurisdictions. This growth is testament to our agility, ambition and dedication to delivering what our clients need and want.” said Tamas Szabo, Group CEO of Pepperstone.
Pepperstone's growth is not surprising, given its competitive pricing and diverse offerings in CFD trades in Forex, indices and commodities. The fintech company is well known for its execution speed, ease of platform use, ease of withdrawal and stellar customer support, which involves strong personal attention to clients.
While many international companies are concerned about a negative Brexit outcome and are planning exit strategies, Pepperstone's recent CySec license may be taken as a sign that the broker is confident in its success, and plans to share that success with its new European customer base.