Cyprus continues to attract retail FX brokers, with newly regulated FxGrow having been launched today, under the corporate name of Growell Capital Ltd.

The firm is a brand of CFH Clearing, from which it takes liquidity on a straight-through processing (STP) basis, to provide A-book order flow to retail clients, with regulatory oversight being provided by Cypriot Regulatory Authority CySec.

Despite ever advancing new rulings for European firms to abide by relating to OTC derivatives, Cyprus remains a firm favourite however FxGrow has set its sights on a Middle Eastern audience, with its operations in Cyprus benefiting from the security of MiFID passporting, plus the relative ease of conducting business within the Middle East from such a convenient location.

Source: Leaprate