Brokerage group Moneta Markets is set to launch a prop trading division.
The company’s founder David Bily said in a social media post on Monday that the firm’s product is almost ready.
The broker is also looking to hire a General Manager in Dubai to oversee the new division.
It’s unclear what the new brand will be called or whether it will have a separate entity. However, the MonetaFunded.com URL is taken.
Moneta has entities in South Africa, St Lucia, and Cyprus, although the latter is most likely just for facilitating payments.
The broker will be the latest in a series of brokers to have branched out into the prop trading space.
Earlier on Monday, TradeInformer reported that Doo Prime has also launched a new prop arm, via its regulated entity in Vanuatu.
Other brokers, including ThinkMarkets, Blueberry, and IC Markets, have all already added prop trading to their set of products.
