Exness new office in Uruguay expects to add around 100 employees by the end of the year. Uruguay was chosen for its first presence at Latam as Uruguay is economically and politically stable enough.
Exness opened its first new office in the Latin American region, signaling the company's growth ambitions in Uruguay. As a forex retailer and contracts for difference (CFD) broker, Exness, which has been operating in the financial markets for 15 years, said the decision to open an office in Uruguay was a fresh start.
According to Artem Seledtsov, Chief Business Development Officer at Exness, Uruguay was chosen for its first presence at Latam as Uruguay is economically and politically stable enough and has a large pool of local talent. With a population of approximately 3.5 million, Uruguay is important to Exness' growth strategy in the Latin America region.
"Opening our office here is an important milestone for us, and the upcoming recruitment of local talent is an important part of our expansion plans. We are very excited about this and can't wait to see our LatAm plans come to fruition." Seledtsov said.
A press release details that the new Uruguay office will host customer support operations for the broker. In addition, the company aims to run a team of 100 employees from the new office by the end of the year.
Besides having several licenses globally to offer trading services in Latin America, Exness also holds eight licenses from regulators in the United Kingdom, Cyprus, South Africa, Kenya, Mauritius, BVI, Curaçao, and Saint Maarten, as well as Seychelles.
Despite its traditional European base, the retail brokerage is aggressively expanding in emerging markets such as Asia. It is now seeking a share of the lucrative African market.