LiteFinance is expanding its footprint in the Asia-Pacific region with the opening of a new regional representative office in Singapore. The move comes as Singapore’s regulator is working with relevant market players to build an FX trading hub and expand the currency market infrastructure.
As part of its expansion in the Asian FX markets, LiteFinance (formerly LiteForex) will provide professional training courses in trading and investing. The CySEC-regulated firm believes that this new presence will enhance its offering that includes multi-asset offering and prime solutions. It also improves the eFX trading experience for local partners in Singapore and the APAC region.
The expansion accommodates current client requirements and underpins LiteFinance’s strategy to grow its infrastructure and expands the availability of its product suite in line with local regulations. The products available to attract a client base consisting of FX and CFD traders, proprietary trading houses, and institutional investors that are looking to trade spot FX, precious metals and energies, along with global stock indices.
LiteFinance had rebranded to its new name back in November 2021. At the time, the broker said the move is the first step in a broader rebranding of their group of companies. At the first stage, they have changed the company’s logo, trademark, and organizational structure.
The new corporate identity reflects the company’s greater focus on a multi-asset offering rather than being a forex-only broker and also completes its ongoing transformation to having a diverse and quite random set of assets.
Founded in 2005, LiteForex is domiciled in Cyprus where its Liteforex (Europe) Ltd brand is regulated by CySEC. It also maintains an offshore branch in Marshall Islands which is subject to a more flexible, looser regulatory regime.
To ensure a seamless transition, the company moved some clients’ accounts to LiteFinance Global, a limited liability company registered in Saint Vincent and the Grenadines.
At the time, LiteForex didn’t explain the rationale behind the move, but said it was part of its development strategy aimed at getting licenses in new jurisdictions. However, it confirmed that the restructuring process will in no way affect existing or new clients as the broker’s founders and management team remain the same.