Exness, an international Forex and contracts for difference (CFD) broker, announced the opening of new offices in Uruguay, the first physical location in Latin America. The new office is another step for the company to expand its presence in the region.
The new office in Uruguay will house the broker’s customer support. Exness plans to recruit a team of 100 employees in the new office by the end of the year.
The choice of Uruguay for its first presence in Latin America is determined by the fact that the country with a population of about 3.5 million people is economically and politically stable and has a large human resources potential.
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Exness is not licensed in Uruguay, however, the broker is licensed by several international regulators and can provide trading services in Latin America. Exness Group currently holds eight regulatory licenses from the UK, Cyprus, South Africa, Kenya, Mauritius, British Virgin Islands, Curaçao and Sint Maarten, and Seychelles.
In addition to European countries, Exness is gradually expanding into emerging markets such as Asia and is now planning to enter lucrative African markets.
Along with the expansion of its presence, Exness is breaking records in the retail brokerage industry. The company became the first broker outside of Japan to break the $1 trillion per month mark in 2021 and continues to lead the industry in terms of trading performance. Exness ended January with a trading volume of $2.82 trillion and the number of active traders on the platform also peaked.