Zenfinex Enters MENA with New DFSA License

Zenfinex, an FX and CFDs broker headquartered in London, has gained licenses from regulators in Dubai to expand its services throughout the Middle East & North Africa (MENA).

The company is looking forward to becoming one of the leading providers of financial markets across this region with its recent acquisition of Stochastic Africa, which later rebranded to Zen Fine X AFRICA.

Becoming a Global Broker

The company’s founder, Nick Cooke, says they are committed to building a solid foundation for longer-term scalability and growth. Their mission now includes ensuring four licenses across five countries will help them reach all corners of Asia, Africa GCC Latam UK by 2022.

Licenses include; the Financial Conduct Authority (FCA) licenses, DFSA Dubai, Seychelles & Sierra Leone’s Central Bank will help them reach all corners of Asia, Africa, and GCC Latam UK by 2022.

The company is looking forward to a successful year with its focus on diversification and producing high-quality products. The next phase will focus on client acquisition as they enter a critical growth stage, building upon these strong foundations laid before them by earlier administrators.

Now, the company has roughly one hundred employees, with a few more job openings soon.

The company’s revenue grew by 1,281% in 2021. However, due to increased administrative costs (mostly because they invested in people and infrastructure), the overall losses mounted up £1 million- that is why we reached out for more information about your experience!