FNG Exclusive… FNG has learned that leading Australia based Retail FX and CFDs broker Pepperstone has continued on its path of international expansion, and been granted a CIF license from Cyprus regulator CySEC.
The company established Pepperstone EU Limited in Cyprus in mid 2019, and after going through what appears to be an increasingly rigorous review by the Cypriot regulator before granting new licenses, the firm was granted its CIF license in August 2020.
As its corporate name implies, the new entity in Cyprus – home to more Retail FX brokers than any other country – is to secure certainty for European clients ahead of Brexit, and to use as a base to expand in Europe. After January 1, FX brokers will no longer be able to passport licenses between the UK and the EU.
The company has named Victor Zachariades as Head of Cyprus at Pepperstone. Mr. Zachariades joined the company in 2019 and spearheaded the Cyprus license application process and office establishment. He joined Pepperstone after working in senior positions at Forex Club, FxPro, and TFI Markets.
“We’re now pleased to be officially operational under our Cypriot license.” said Victor Zachariades. “Our European operations ensure we’re well-placed to deliver our global commitment to our clients while providing products and services people can trust.”
Tamas Szabo, Group CEO of Pepperstone, added:
“This year marks the 10th anniversary of Pepperstone and we are excited to celebrate it with the achievement of our new Cyprus license.”
“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.”
Established in 2010, Pepperstone is now one of the largest MT4 brokers in the world. The company has subsidiaries across the globe and holds licenses issued by the Australian Securities and Investments Commission (ASIC), the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Dubai Financial Services Authority (DFSA), the Capital Markets Authority of Kenya (CMA), and the Securities Commission of The Bahamas (SCB).