Colombia’s financial regulator has cleared another CFDbroker to enter the local market. Libertex’s offshore brand LBX has receivedapproval to open a representative office in Bogotá, following a similar move byCFI.CFI, Plus500, and ACY Secure Entry Into ColombiaCFI Financial confirmed today (Thursday) that it securedregulatory approval to operate in the region. The Dubai-headquartered company receivedauthorization 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 toestablish a representative office in the country as part of its broader globalexpansion strategy.Earlier, Plus500 and Australian broker ACY also announcedthey had received authorization from the SFC, underscoring growing interestamong international brokers in tapping into Colombia’s financial sector.Expansion Under New Offshore CFD BrandLast week, Finance Magnates reported that Libertex unveiled LBX as a new offshore contracts for differences (CFDs) brokerage brand, whichhas also entered into a sponsorship deal with the KICK Sauber Formula 1 team. The new brand is operated by MAEX LIMITED, a companyregistered and regulated in Mauritius. This structure highlights LBX’spositioning toward emerging markets, where offshore licenses are often used tocater to a broader retail client base.You may also find interesting: Card Fraud Accounts for 94% of Payment Scams in Cyprus, Central Bank SaysLBX has rolled out its platform in four languages: English,Thai, Vietnamese, and Spanish. The broker has also highlighted “tailored LATAMbenefits” such as faster deposit options and localized customer support,pointing to a strategic focus on both Latin American and Southeast Asianregions.Multi-asset Offering In terms of product offering, LBX plans to provide contractsfor differences across multiple asset classes, including forex, metals,indices, energies, commodities, and cryptocurrencies. Clients will be able totrade these instruments via the widely used MetaTrader 4 and MetaTrader 5platforms.Plus500 has announced the opening of its first representative office in Colombia after securing approval from the ColombianFinancial Superintendence. The development comes as the firm also pursues alocal license in Chile.The fintech sector is also expanding in Colombia, withRevolut applying last year for a banking license to operate in the country. Themove is part of its broader push into Latin America, following its entry intoBrazil in 2023 and the acquisition of a banking license in Mexico in April2024.This article was written by Jared Kirui at www.financemagnates.com.