TradeInformer has learnt that prop firm FundedNext is in the process of acquiring a license from the Cyprus Securities and Exchange Commission (CySEC).
The company told TradeInformer that CEO Abdullah Jayed is looking at acquiring multiple licences for the firm to start a brokerage offering but that the CySEC license is at the heart of those plans.
According to a FundedNext spokesperson, the company is looking to establish operational hubs for its brokerage division in Cyprus and Malaysia.
Currently the firm is looking to hire for senior roles across Cyprus. That includes risk, operations, compliance, sales and HR roles.
Given the lack of publicly available information, it is difficult to know how big different props are. However, FundedNext is typically seen as one of the biggest players in the nascent sector.
The company is also the second major prop that is trying to acquire a brokerage license. FTMO has already made a couple of major hires to lead its expansion into the broker space, including the former CEO of Skilling and IC Markets’ former Chief Risk Officer.
