CIX Markets, a UK-based provider of online dealing services to private investors, institutions, banks, and brokerage houses, enters the Romanian market through the establishment of a branch in Bucharest.
CIX Markets is a trading name of City Credit Capital (UK) Limited which is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, since 2004.
CIX Markets will focus on providing a customer-centred service offering Foreign Exchange (FX) and Contract for Difference (CFD) trading to local investors. Clients of CIX Markets will have access to trade liquid financial instruments including foreign exchange, equity indices, precious metals, and commodities through a choice of the MetaTrader 4 platform or their proprietary CIX Trader platform, both systems will also be available for mobile devices. All CIX Markets customers with a live trading account are given premium access to Trading Central, an award-winning platform that provides access to investment analytics, trading signals and analyst research.
Cosmin Ruse, an experienced Romanian trader, will manage the Bucharest branch and will be responsible for growing the business for CCC and promoting the CIX Markets brand in Romania. Prior to joining CCC, Cosmin Ruse held a variety of senior roles in Romanian investment companies, including Director of International Markets as well as the CEO and President of the main Board. Apart from developing a strong base of retail clients, City Credit Capital plans to establish institutional partnerships with local brokerage houses. In this manner, local brokers offering clients financial instruments tradable on the Romanian capital market will be able to diversify their product portfolio by also providing access to derivatives trading.
“Our strategy in Romania is to establish a loyal client base, with whom we can build a close relationship. Globally, CCC is known for its top-quality relationship with clients and we want to ensure that quality is available to our Romanian customers. Our focus is quality not quantity; therefore, we are not focused on rapid growth but rather reputation, as we plan to be in Romania for the long-term. This is why our key objective will be to provide impeccable client service to our customers” said Cosmin Ruse, General Manager and Legal Representative of City Credit Capital’s Bucharest Branch. CCC’s ambition is to become a broker of a choice for FX trading in Romania in the next five years.
“Romania is a sophisticated and mature market, where we have found knowledgeable and highly skilled staffs to run the local office, which is essential as the quality of services we provide to our clients has always been of key importance to CCC. Additionally, Romania has a strong local regulator which we appreciate as it allows CIX Markets to offer clients a high-quality open and transparent service in a market where customer protection is an important factor” said Simon Daniels, Executive Director of City Credit Capital UK Limited explaining the rationale for the CCC Group to enter the Romanian market.
CCC Group has over 16 years’ experience in dealing services. The newly launched office in Bucharest is the first European branch of the company, which also has offices in Hong Kong, Santiago, Mexico, and London where the company’s headquarters are based. Customers who trade with City Credit Capital (UK) Limited are offered the high protection of being a client of a company authorised and regulated by the UK’s Financial Conduct Authority. With the branch being established in Bucharest, Romanian clients will benefit from being able to access support services in the Romanian language and have a local team at their disposal.
“CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73,36% of our retail investor accounts lose money when trading CFDs with City Credit Capital. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money,” a press release issued by the company informs.