LiteFinance (previously LiteForex), a retail forex and CFDs broker, has expanded its presence in Asia with the opening of a new regional representative office in Singapore.
Announced on Tuesday, the new office is aiming to provide support to the broker’s clients and partners in Singapore and provide professional training courses in trading and investing locally. Furthermore, the broker is expecting to generate profits in the financial markets with new solutions.
Extended Local Presence
It is an addition to more than a dozen such regional representative offices in Asia and Africa. As seen on its website, LiteFinance has a physical presence in Ghana, Indonesia, Kenya, Kyrgyzstan, Mongolia, Morocco, Myanmar, Thailand, Vietnam and a few other countries.
The offerings of LiteFinance include trading pairs with forex , along with contracts of differences (CFDs) of stocks, indices, commodities and cryptocurrencies . However, the offered instruments vary from one jurisdiction to another.
In addition, it went through a rebranding last year as the name was changed from LiteForex to LiteFinance. It came as a part of a major restructuring of the group company.
LiteFinace is licensed by the financial market regulator in Cyprus, under which it offers its services within the EEA. Another subsidiary of the group is incorporated in St. Vincent & the Grenadines since March 2021. The group earlier revealed its plans to obtain new regulatory licenses but did not name any target jurisdiction.
“Restructuring our company, we aim to get licenses in new jurisdictions and thus develop our services further,” the broker stated earlier. “Our company has stepped into a new development era, and an extensive set of innovative products is about to come.”
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