Trade Nation adds offshore license in Seychelles
The new license widens Trade Nation’s global reach and provides more opportunities for expanding its customer base, particularly in Asia.
Offshore FX brokers are websites which offer retail clients trading in forex pairs, CFDs and often cryptocurrencies, while located in one of many “offshore” locations. These include brokers which are licensed by small island and nation-states with the more popular ones being Belize, Seychelles, Mauritius, Saint Vincent and the Grenadines, the British Virgin Islands (BVI), and the Bahamas. Other offshore FX brokers are fully unlicensed, and operate with no regulatory oversight of any kind.
Offshore brokers typically can offer more risky terms to clients than can properly licensed, onshore brokers (such as those located in Europe, Australia, or North America), such as high leverage and volume-related deposit bonuses. However when things go wrong, clients of these offshore brokers typically have no recourse, and no real regulator to turn to,
The new license widens Trade Nation’s global reach and provides more opportunities for expanding its customer base, particularly in Asia.
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For the past two year Andrew Ishchuk had been CEO of another Dubai based offshore broker called HonorFX.