MENA region forex broker DCFXbroker has taken a major step forward by opening a branch in Cyprus, and receiving CySEC CIF licensing. Apparently it is becoming harder and harder for unregulated Forex brokers to grow beyond a handful of clients, and as such we expect to see more such brokers seek to become regulated in a recognized jurisdiction.
DCFX focuses on Arabic markets and Islamic accounts. Until now it was based in the UAE (Abu Dhabi), and registered in Seychelles. While most of DCFX’s clients come from Arabic speaking countries in the Middle East and North Africa, it had recently begun to take clients from the Far East – a good reason to seek regulation.
The CIF license was formally granted to DCFX’s parent company Different Choice FBC Ltd.