TigerWit has opened a “sales and customer service center” in Dubai, UAE, in a move that further expands the broker’s fooprint in the region.
The new office will include a team of sales, marketing, and customer service representatives dedicated to offering bespoke service and tailor-made solutions to clients in the wider MENA region.
The broker has chosen Dubai because the United Arab Emirates has one of the most developed FX markets in the Middle East in terms of regulation and trading activity.
Hazim Ismail, Managing Director of TigerWit MENA, said: “I am so proud of our TigerWit team and their hard work to bring financial knowledge & experience to the UAE and local MENA region.
“The opening of our offices in Dubai is a milestone for the company and a great opportunity to be closer to our MENA clients and deliver even higher quality of service, while working side by side with our partners. Our trading technology is based on blockchain and rare within the region.
“This along with the innovative and advanced platforms and services we provide puts TigerWit well ahead of the curve, in line with the transparency we’re known for globally. I’m immensely excited about this new challenge and I look forward to witnessing what we can achieve in the region and being able to great clients to provide a personal touch”, he said.
The online trading platform has grown extensively throughout the years, having announced a 300% increase in new clients and 200% growth in new business revenue in September 2020.
The broker has ambitious plans for its new operations in Africa and the Middle East after obtaining a license from Hong Kong’s Securities and Futures Commission (SFC) in 2019.
TigerWit has announced a partner arrangement in Nigeria to set foot in that jurisdiction because of its unique rules and regulations. The firm is used to operating within a highly-regulated market and wishes to remain so.
Emerging economies will continue to be a highly desired target as TigerWit expands its footprint across the globe. The broker is authorized by the Financial Conduct Authority in the United Kingdom as well as Hong Kong’s SFC and the Bahamas SCB.
The new rules announced by ESMA and the FCA, which forced brokers to reduce leverage caps, have pushed TigerWit to explore the institutional space in Europe. The firm has thus focused on providing liquidity and risk management solutions.