The offshore brand of retail brokerage group Libertex has received approval to operate under a representative license in Colombia from the local regulator.
The company’s entity in Mauritius – MAEX ltd – is listed in regulatory filings as having been recently approved to operate in the South American country.
The main Libertex brand does take clients from Colombia if they visit the broker’s site directly.
However, those customers are directed to the brokers Libertex.org URL, which means onboarding with their entity in St Vincent and the Grenadines.
Consequently, the decision to set up with the entity in Mauritius suggests any activity carried out by the Colombian representative office will be for LBX, another brand that the brokerage group recently set up, which seems designed for targeting customers in emerging markets and operates via the Mauritius entity.
Currently the LBX brand looks like it will be used primarily to target Vietnam, Thailand, and Spanish-speaking Latin American countries.
Libertex is one of several brokers to have recently set up with a representative office in Colombia.
Plus500, CFI, and ACY have all received approval from the local regulator to operate in the country over the last month.
