LiteFinance sets up its first-ever office in Singapore to expand its presence in Asia. Before, the company already established its branch in Mongolia, Indonesia, and Vietnam.
LiteFinance's forex and CFD broker expands its presence in Asia with the opening of a regional representative office in Singapore. LiteFinance is a Cypriot licensed broker offering its services within the EEA. In March 2021 ago, LiteFinance's subsidiary was established in St. Vincent & the Grenadines and plans to obtain a new regulatory license but has not yet specified a target jurisdiction.
The new office is expected to provide support to clients and broker partners in Singapore in the form of professional training courses on local trading and investing. Furthermore, the broker also wants to make a profit on the Singapore financial market.
The Singapore office is in addition to LiteFinance's dozen of representative offices in Asia and Africa. As stated on its website, LiteFinance has a physical presence in Ghana, Indonesia, Kenya, Kyrgyzstan, Mongolia, Morocco, Myanmar, Thailand, Vietnam and several other countries.
LiteFinance is in demand by global traders because it offers not only the forex market but also the difference contracts (CFDs) of stocks, indices, commodities, and cryptocurrencies. Unfortunately, the instruments offered vary from jurisdiction to jurisdiction.
Last year, the CySEC-regulated company underwent a rebranding by changing its name from LiteForex to LiteFinance. It came as part of a major restructuring of group management.
"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."