Colombia’s financial regulator has cleared another CFD
broker to enter the local market. Libertex Group’s offshore brand LBX has received
approval to open a representative office in Bogotá, following a similar move by
CFI.
CFI, Plus500, and ACY Secure Entry Into Colombia
CFI Financial confirmed today (Thursday) that it secured
regulatory approval to operate in the region. The Dubai-headquartered company received
authorization from the Colombian Financial Superintendence (SFC).
The green light makes CFI among major brokers, within a week,
to gain entry into Colombia’s market. The approval now allows the company to
establish a representative office in the country as part of its broader global
expansion strategy.
Earlier, Plus500 and Australian broker ACY also announced
they had received authorization from the SFC, underscoring growing interest
among international brokers in tapping into Colombia’s financial sector.
Expansion Under New Offshore CFD Brand
Last week, FinanceMagnates.com reported that Libertex Group unveiled LBX as a new offshore contracts for differences (CFDs) brokerage brand, which
has also entered into a sponsorship deal with the KICK Sauber Formula 1 team.
The new brand is operated by MAEX LIMITED, a company
registered and regulated in Mauritius. This structure highlights LBX’s
positioning toward emerging markets, where offshore licenses are often used to
cater to a broader retail client base.
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LBX rolled out its platform in four languages: English,
Thai, Vietnamese, and Spanish. The broker has also highlighted “tailored LATAM
benefits” such as faster deposit options and localized customer support,
pointing to a strategic focus on both Latin American and Southeast Asian
regions.
Multi-Asset Offering
In terms of product offering, LBX plans to provide contracts
for differences across multiple asset classes, including forex, metals,
indices, energies, commodities, and cryptocurrencies. Clients will reportedly be able to
trade these instruments via the widely used MetaTrader 4 and MetaTrader 5
platforms.
Plus500 also announced the opening of its first representative office in Colombia after securing approval from the Colombian
Financial Superintendence. The development comes as the firm also pursues another license in Chile.
The fintech sector is also expanding in Colombia, with
Revolut applying last year for a banking license to operate in the country. The
move is part of its broader push into Latin America, following its entry into
Brazil in 2023 and the acquisition of a banking license in Mexico in April
2024.
This article was written by Jared Kirui at www.financemagnates.com.
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