New Cyprus FX brokerage FXNet receives CySEC license

FXNet set up by former XEMarkets (TradingPoint) execs.

Cyprus’ securities regulator CySEC announced that it has granted a CIF (Cyprus Investment Firm) license to FXNet, an about-to-be-launched retail FX firm. FXNet is being formed by (among others) executives from XEMarkets, including Costas Kappai, formerly senior dealer at XEMarkets. [Editor’s note — see company comment below]. Incidentally, XEMarkets itself just rebranded from its former operating name Trading Point.

FXNet is still in the process of filling out its roster of key managers and employees, mainly senior account managers for key regions. It has posted for a senior Asia-region manager on the popular Cyprus Jobs Netowrk.

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