CPT Markets Expands European Footprint with New Cyprus Office

CPT Markets, a prominent forex and contracts for differences (CFDs) brokerage firm, has inaugurated its inaugural office in Larnaca, Cyprus, marking a strategic move to bolster its presence within the European Union. The new office, which commenced operations on Friday, is led by Ioan Mihalachi, who assumed the role of unit head.

Mihalachi, who joined CPT Markets earlier this year as Chief Operating Officer, brings over 14 years of industry experience to his new position. Previously, he served as CEO of Multibank's Cyprus unit, where he played a pivotal role in securing the company's Cyprus license.

"Cyprus has always been a hub for the financial services industry," Mihalachi commented. He emphasized the strategic advantages of establishing a presence in Cyprus, noting that the primary objective of the new office is to enhance operational efficiency across all divisions of CPT Markets.

The Cyprus office has commenced operations with a team of 15 professionals spanning various departments including operations, support, back office, payments, dealing, risk management, and compliance. This expansion follows recent developments at CPT Markets, including the appointment of Nicholas Chantzaras as Head of Sales at its FCA-regulated UK office​, aimed at fortifying the company's sales capabilities.