Colombia’s financial regulator has cleared another CFD broker to enter the local market. Libertex’s offshore brand LBX has received approval to open a representative office in Bogotá, following a similar move by CFI.

CFI, Plus500, and ACY Secure Entry Into Colombia

CFI Financial confirmed today (Thursday) that it secured regulatory approval to operate in the region. The Dubai-headquartered company received authorization from the Colombian Financial Superintendence (SFC).

The green light makes CFI among major brokers, within a week, to gain entry into Colombia’s market. The approval now allows the company to establish a representative office in the country as part of its broader global expansion strategy.

Earlier, Plus500 and Australian broker ACY also announced they had received authorization from the SFC, underscoring growing interest among international brokers in tapping into Colombia’s financial sector.

Expansion Under New Offshore CFD Brand

Last week, Finance Magnates reported that Libertex unveiled LBX as a new offshore contracts for differences (CFDs) brokerage brand, which has also entered into a sponsorship deal with the KICK Sauber Formula 1 team.

The new brand is operated by MAEX LIMITED, a company registered and regulated in Mauritius. This structure highlights LBX’s positioning toward emerging markets, where offshore licenses are often used to cater to a broader retail client base.

LBX has rolled out its platform in four languages: English, Thai, Vietnamese, and Spanish. The broker has also highlighted “tailored LATAM benefits” such as faster deposit options and localized customer support, pointing to a strategic focus on both Latin American and Southeast Asian regions.

Multi-asset Offering

In terms of product offering, LBX plans to provide contracts for differences across multiple asset classes, including forex, metals, indices, energies, commodities, and cryptocurrencies. Clients will be able to trade these instruments via the widely used MetaTrader 4 and MetaTrader 5 platforms.

Plus500 has announced the opening of its first representative office in Colombia after securing approval from the Colombian Financial Superintendence. The development comes as the firm also pursues a local license in Chile.

The fintech sector is also expanding in Colombia, with Revolut applying last year for a banking license to operate in the country. The move is part of its broader push into Latin America, following its entry into Brazil in 2023 and the acquisition of a banking license in Mexico in April 2024.

Source: Finance Magnates