Retail broker Capital.com is planning on opening offices in two key Latin American markets – Brazil and Chile.
The company is hiring for local CEOs in Brazil and Chile, as well as for compliance executives in both locations. The Brazil office is also hiring for a finance executive.
The broker’s hires are in Santiago and Sao Paulo.
Chile has become a hot spot for brokers over the last couple of years.
XTB and Pepperstone have both opened large offices in the country, which also has a licensing regime for CFD providers. Significantly, you can offer high leverage with that license.
London-listed broker Plus500 is also in the process of applying for a local license, as reported on TradeInformer last month.
Brazil is a more unusual place to open an office. Brokers cannot offer CFDs directly in the country, meaning most rely on reverse solicitation rules to attract customers.
Consequently very few firms actually have a local set up in the country.
A notable exception to that is ActivTrades, which uses a locally regulated entity to offer NDFs and then cross sell into more profitable CFD products.
