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Betfred expands Forex, CFD service into Cyprus – report

Published

8 years ago

November 17, 2017

George Miller

Betfred expands Forex, CFD service into Cyprusb

Reading Time: < 1 minute

Betfred is set to expand the reach of its new TradeFred Forex and CFDs online trading platform into Cyprus, according to LeapRate.com.

The result of a partnership between Betfred and Vanuatu-registered MagicPath Capital, the platform went live in June.

At the time of its launch, TradeFred only held a licence issued by the Vanuatu Financial Services Commission and had not been not cleared for operations in the UK or Europe.

However, LeapRate.com has reported that TradeFred will soon expand with a new Europe-regulated entity in Cyprus and has established a subsidiary in the country to support the move.

TradeFred is also expected to announce that it has obtained a CIF licence from the Cyprus Securities and Exchange Commission, which will allow it to take clients from European countries and the UK.

MagicPath is listed as the owner of the TradeFred brand, while Betfred serves as a technology provider.

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George Miller

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.