Following our report from last November that Singapore based brokerage firm Doo Group had received a license by Cyprus financial regulator CySEC (for subsidiary Doo Financial Cyprus Limited), the company has now announced the formal opening if its new office in Limassol.
Doo Financial Cyprus will effectively be located in Hyper Tower, in the same office recently vacated by Retail FX and CFDs broker BDSwiss, which “went offshore” last year after its license (Viverno Markets Ltd) was suspended by CySEC.
Doo Financial Cyprus will serve the group’s EU clients from the Cyprus location, with Doo Financial EMEA headed by Costas Kappai, formerly Executive Director and General Manager of FXPrimus. We had reported as far back as mid 2023 that Doo Group had designs on expanding to the EU out of Cyprus, as the company made a number of Cyprus based hires and was building an operation there.
About Doo Group
Founded in 2014 and headquartered in Singapore, Doo Group operates licensed subsidiaries in several locales including the USA, UK, Cyprus, Indonesia, Australia, and Hong Kong, as well as offshore entities in Labuan, Seychelles, Mauritius, and Vanuatu. Doo Group is controlled by Chinese national Junjie Chen.
