Belize-based FX and CFDs brokerage Scope Markets has expanded its footprint in the Middle East with the opening of a new branch in Lebanon.
The new office will serve as a regional hub for providing localised services and customised products to retail traders in Lebanon and the surrounding region. As per its managing partner Hadi Zaarour, the new office in Nabatieh brings the total number of Scope Markets branches in Lebanon to four.
“With more to come in 2024, as we continue to provide the excellent service which the trading community deserves. We are very excited and looking forward ahead to extend our service’s reach to more and more areas in Lebanon,” Zaarour wrote in a Linkedin post.
Scope Markets has recently expanded its tradable universe of securities by adding over 500 single stocks. These stocks cover markets in Canada, Hong Kong, and Austria, which marks yet another stage of its decisive move into the surging arena.
This expansion brings the total number of global equity markets accessible to Scope Markets’ clients to 11, and the number of individual stocks available to more than 40,000. The company said it will continue to add new instruments across multiple asset classes to reflect the evolving demands of clients.
The multi-asset platform broadens its product line as clients’ desire to garner exposure to stock markets has been increasing. The inclusion of single stocks not only helps expand trading capabilities for its existing clientele but also attracts more traders that are looking to diversify their trading options.
The case for adding more assets has been growing in recent years as the company’s clients from certain regions are keen to actively trade global stocks.
Earlier last year, Rostro Financials Group, a fintech group focused on capital markets and digital assets, completed the acquisition of Scope Markets.
The financial details of the transaction were not disclosed, but Rostro has bought the retail broker in an all-cash deal. Scope Markets , which is domiciled in Belize and regulated by the International Financial Services Commission (IFSC), was controlled by UAE-based entrepreneur Serkan Ismailoglu. The Middle East-focused broker also operates regulated entities in Africa, Cyprus and Mauritius.
The deal also plays into a long-term vision for Rostro, which operates multi-regulated brokerage houses that provide execution, and clearing of both listed securities as well as OTC derivatives. In addition, the group offers banking, alternative finance, and digital asset storage with both on and off ramp solutions.
