CFI Financial Enters Egypt With The Acquisition Of Local Broker 'El Mahrousa'

The news statement outlined the transaction, which boosted CFI's position in the MENA area and increased its market share.

“CFI's leadership position in the Middle East and North Africa is highly vital for us, and the purchase of El Mahrousa in Egypt helps to consolidate our position.” “The Egyptian market is a major market in the area, and we realized that we needed to be there physically via a locally regulated firm,” CFI Financial Group Co-Founder and Managing Director Hisham Mansour said in a statement.

A Growing Broker

CFI's services include forex trading and contracts for differences (CFDs) in a variety of other popular asset classes. The broker's activities are largely concentrated in the Middle East, having regulated firms in the UAE, Jordan, and Lebanon. Furthermore, the broker is licensed in the United Kingdom, Cyprus, and Mauritius.

Furthermore, the brokerage business saw an increase in demand as its trading volume increased by 94 percent in the first three quarters of the current year. Its client acquisition rate increased by 155 percent year on year, while the number of active accounts increased by 80 percent.

Aside from geographical growth, CFI has improved its offers. In the last year, the broker has introduced hundreds of new CFDs products and markets to its trading platform.

Furthermore, CFI hired Pep Guardiola, the current coach of the English football team Manchester City and a former Spanish player, as the worldwide brand ambassador. While sports sponsorships are prevalent in the trade business, CFI is one of the rare companies that directly contract football players for marketing and promotion.

Meanwhile, CFI's senior management was reshuffled. Loukia Christoforou was appointed Head of Project Management in June, while Chirine Daoud was appointed Marketing Director. Stelios Thrasyvoulou was also designated, Chief Technology Officer. Demetrios Zamboglou, the company's Group COO, departed to join Doto as Group CEO.

You can check out more of 'El Mahrousa' here: https://www.wikifx.com/en/dealer/5371846738.html

Stay tuned for more Forex Broker news.

Download the WikiFX App from the App Store or Google Play Store to stay updated on the latest news.