The contracts for differences (CFD) brokerage unit backed by the founders of The5ers has secured a new Seychelles licence, expanding its regulatory footprint beyond its existing Cyprus authorisation. Operating under the Trade Set Go brand, the brokerage has initiated a soft launch and begun onboarding clients through the newly established offshore entity.
The Seychelles licence has been obtained in addition to the Cyprus licence that the brokerage previously received. The Cyprus authorisation has enabled the firm to offer services across the European bloc, while the Seychelles licence is described as better suited to onboarding traders from emerging markets. The offshore business operates under the Trade Set Go name, whereas the Cyprus entity is currently registered under the acronym TSG.
Regulatory Strategy and Corporate Structure
The company followed different strategies for its entries into Cyprus and Seychelles. In Cyprus, it entered the market by taking a minority stake in an existing brokerage on the island. By contrast, the Seychelles business was established from the ground up, which the company says ensured a completely clean slate with no prior history. The process from initial application to final regulatory approval in Seychelles took over a year and a half.
Despite setting up the Seychelles operation, the brokerage will maintain its headquarters in Cyprus. The Seychelles office will focus on overseeing local operations under the offshore licence. Across the group, the company currently operates two offices globally and employs a team of 10 people.
Brand Alignment and Relationship with The5ers
The firm is preparing to initiate the approval process with the Cyprus Securities and Exchange Commission (CySEC) to officially update and align the corporate name in Cyprus with the Trade Set Go brand. The goal is to achieve a unified global brand identity across all jurisdictions in which it operates.
Gil Ben Hur, founder of The5ers, emphasised that the proprietary trading (prop) and brokerage units will operate separately and independently. He noted that it is increasingly natural, and even inevitable, for prop firms and brokers to sit side by side on the same shelf. According to Ben Hur, the two models are complementary to each other, underscoring the group's strategy of maintaining distinct yet aligned businesses under the broader Trade Set Go and The5ers ecosystem.
