Retail brokerage group CFI Financial announced on Monday that it has acquired a broker based in Azerbaijan.
AzFinance İnveŞtisiya Şirkəti will be merged with CFI and then rebranded so that it is the same as the wider group, with the equivalent product offering.
The acquisition means that CFI is the first foreign retail broker to acquire a license for offering CFD products in Azerbaijan.
The Azeri market itself is not huge. However, given that the Azeri language is almost the same as Turkish, it’s plausible it could also act as a route to onboard traders in the latter country.
CFI has made some big waves over the last 12 months, with several new product launches and significant marketing partnerships.
The Lebanese firm recently added options trading to its product suite and has also formed marketing deals with football teams Sheffield United and Paris St Germaine, as well as Formula 1 driver Lewis Hamilton.
