Ramzi Chamat CEO of Tadawul FX Ltd
Ramzi Chamat CEO of Tadawul FX Ltd

Tadawul FX Placing a premium on integrity

e-Forex talks to Ramzi Chamat, CEO of Tadawul FX Ltd, a leading Swiss forex broker who recently relocated their headquarters to Cyprus.

First Published: e-Forex Magazine 37 / Retail Forex Client / October, 2009

Ramzi, you founded Tadawul FX in Switzerland in 2006 and last year relocated your head office and client operations to Cyprus. What prompted you to make this strategic move? At the base we are a Swiss company and continue our technical operations and systems development in Switzerland. The move of our Head Quarters and client operations to Cyprus was actually prompted by two factors. First, a new law introduced by Swiss Financial Authorities (FINMA) requiring Forex brokers to acquire a banking license, which we did not find to be feasible or desired. Second, and more important, we were looking to relocate to a member state of the European Union and therefore into an environment of more vigilant financial regulations but that is also at a closer proximity to our GCC customers. Cyprus was our ideals choice. It is strategically placed between Europe, Africa and the Middle East giving us better access to our client base, has favorable tax conditions, and is a member of the EU. TADAWUL FX is licensed and abides...continued

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