A new office has been inaugurated in Limassol, Cyprus, by the brokerage firm Doo Group, enhancing its presence in Europe. This follows the recent licensing accorded by the Cyprus financial regulator, CySEC, to its subsidiary, Doo Financial Cyprus Limited, as reported in November.
The new office is located in Hyper Tower, which was previously occupied by the retail Forex and CFDs broker BDSwiss, known for relocating offshore after its CySEC license was suspended the previous year.
Doo Financial Cyprus is set to cater to the firm’s European clients, with leadership provided by Costas Kappai, who has a notable background as the former Executive Director and General Manager of FXPrimus. The establishment of this office aligns with earlier reports indicating Doo Group’s intentions to expand its operations within the EU, as the firm made several key hires in Cyprus in preparation for this move.
Founded in 2014 and based in Singapore, Doo Group operates a network of licensed subsidiaries across various regions, including the USA, UK, Cyprus, Indonesia, Australia, and Hong Kong. In addition, it has offshore entities located in Labuan, Seychelles, Mauritius, and Vanuatu. This strategic expansion reflects the firm’s commitment to serve its clientele better and bolster its operations in the competitive financial services sector.