Cyprus-based Forex24 to Set up A FX R&D Center in Kiev

Retail FX broker Forex24 announced a plan of its new R&D center in Kiev, Ukraine. The newly planned premises is designed to enable the company to create new technologies to support FX trading.

Over the last few years, FinTech has begun to emerge in Ukraine, with about 80 providers active in the market, according to a USAID report published in 2018. These range from startups to more mature providers selling services. Forex24 has made plans to further push the development of mobile trading platforms, fund withdrawal solutions as well as advanced customization features. Now with the opening of the new center, the company will be joining a number of players globally to drive innovation and growth by utilizing the city's ecosystem.

The center will cover an area of approximately 10,000 sq. feet (929 sq. m), offering a workspace enough for over 70 people, who would be recruited from the city's pool of highly skilled talents.

"We expect the coming years to bring thrilling innovations for forex trading, as the industry matures and more people are using to this type of trading," said Georgios Ioannou, the appointed person to head the R&D at Forex24.

Online training programs and webinars have already been rolled out by Forex24 for clients before the center's opening plan.

It is on the top of the center's list to streamline withdrawal process, which has been nagging many with constant delays.

In addition, Forex24 is looking forward to introducing a safer and more reliable environment for trading where it could partner local companies in Kiev and work their way to build a global talent pool.

 Forex24 is a brand owned and operated by Lydya Financial Ltd, a Cyprus Investment Firm (CIF) regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC).