FXOpen, a retail and institutional broker, has set its sights on a new bourgeoning market for foreign exchange (FX) market participants, opting to open a new appointment of a local agent in Cairo, Egypt, according to an FXOpen statement.
Cairo is a large prospective market, boasting millions of potential market participants in what has been a relatively untapped realm in terms of FX products and trading. In addition, Egypt as a whole is strategically located in the Middle East and North Africa (MENA) region, which has seen a growth in FX trading in recent years.
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