Breaking: Saxo Bank Closes Cyprus Office
Posted: Tue Mar 07, 2017 1:02 pm
Saxo Bank is closing its office in Limassol, the company has confirmed to Finance Magnates. Clients of the firm from Central and Eastern Europe (CEE) and the Middle East and North Africa (MENA) will continue to receive services from Prague, Dubai and Copenhagen.
Saxo Bank opened its Cyprus office five years ago and initially set up a subsidiary which focused closely on retail FX clients via an MT4 offering. In 2015 the company renounced its CySEC license and wound down its MT4 business. Since then the Danish brokerage focused its retail operations solely on its SaxoTraderGO and SaxoTrader ... (read more)