INGOT Europe Expansion with Cyprus Office

INGOT Europe expansion marks the broker’s strategic entry into the EU, strengthening its global footprint through Cyprus. The firm has expanded into the European Union with the launch of a new office in Limassol, Cyprus. This move complements the broker’s existing footprint across Australia, Dubai, Jordan, and Kenya.

INGOT Europe Expansion After CySEC Approval

While INGOT has not disclosed detailed plans for its European operations, the establishment of a Cyprus office suggests a strategic move to access the island’s well-established retail trading market.

INGOT operates under regulation in several jurisdictions, including Australia, Seychelles, Kenya, and Jordan, and also holds a licence from Dubai’s Securities and Commodities Authority (SCA). In November 2025, the broker secured authorisation from the Cyprus Securities and Exchange Commission (CySEC), although it has not yet commenced local operations.

Cyprus has traditionally been a favoured hub for forex brokers, largely due to its deep talent pool and recognised regulatory environment. As a result, firms seeking access to European markets frequently establish a regulatory base on the island.

More recently, the founders of The5ers, a proprietary trading firm, made their entry into the contracts for differences (CFDs) brokerage sector by launching a Cyprus-based retail broker.

Cyprus Faces Rising Competition

At the same time, Cyprus is encountering increasing competition from the United Arab Emirates. Although many brokers continue to open offices and secure licences in Dubai, several well-known firms have scaled back or exited their Cypriot operations.

Squared Financial, which previously conducted most of its activities from Cyprus, has officially started the process of surrendering its licence with the local regulator. Orbex has also shut down its Cyprus operations and now provides services exclusively from offshore jurisdictions.

BDSwiss adopted a similar approach, initially halting services for retail clients before fully returning its Cyprus licence in 2024.

Other prominent Cyprus-linked brokers, such as Exness, FXTM, IronFX, and RoboMarkets, have likewise stopped onboarding retail CFD clients under their CySEC licences and are now concentrating mainly on offshore markets. While some continue to retain their Cyprus authorisation, others have relinquished it altogether.

Doo Group, which opened its second Cyprus branch last year, has since vacated its Limassol office. The broker has also rebranded its UK and South African entities as RKX Financial.

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