CFI Financial Group, a leading CFD broker, has officially entered the Central Asian market by opening a new office in Baku, Azerbaijan. This move is part of the company’s broader global expansion strategy.
CFI Establishes Presence in Azerbaijan
CFI’s new office in Baku follows the creation of its local entity, CFI Financial Investment Company (CFI Azerbaijan). The company first signaled its interest in the region last year when it acquired AzFinance Investment Company, a local brokerage firm. The acquisition led to a full rebranding, aligning the firm with CFI’s international identity and operational standards.
Leadership and Growth Plans
Co-Founder and Managing Director Hisham Mansour highlighted Azerbaijan’s potential in the financial sector.
“Azerbaijan represents a fast-growing financial market with immense potential,” he said.
The country has a population of over 10.1 million and a per capita income of $22,640, according to the World Bank. CFI sees its Azerbaijan office as a stepping stone for broader regional expansion.
To lead its operations, CFI appointed Ilgar Rustambayl as CEO of CFI Azerbaijan. Rustambayl brings extensive corporate experience from previous roles at Philip Morris International, The Coca-Cola Company, and MIG Bank.
“The launch of our Baku office is more than just an expansion—it’s a commitment to providing Azerbaijani traders and investors with a world-class trading environment featuring competitive conditions, advanced financial tools, and expert guidance,” Rustambayl said.
Rising Demand and Global Reach
Founded in 1998, CFI operates under multiple regulatory licenses in key markets, including the UK, UAE, Jordan, and Lebanon. The broker provides an online trading platform offering benefits such as zero-spread accounts and commission-free trading on select products.
CFI’s global expansion has accelerated in recent months. In December, the company entered the South African market, appointing Zihaad Israfil as CEO of its new operations there.
At the same time, CFI has reported record-breaking trading volumes. As noted by Finance Magnates, the broker processed $1.12 trillion in trading volume in the last quarter of 2024, reflecting increasing demand for its services.
With its expansion into Azerbaijan, CFI continues to strengthen its position as a major player in the global trading industry.
