Equiti Group opened a technology hub in Bangalore, adding an India engineering base to a company better known for its Middle East brokerage business.

The firm said the site would handle work across engineering, data, artificial intelligence, cybersecurity and cloud systems.

A Talent Base, Not a Client Market

Equiti’s India move is about hiring engineers, not selling to Indian traders. Contracts for difference occupy a legal grey zone in India, where currency-control rules make it effectively off-limits for offshore brokers to take local retail clients, a backdrop that has pushed several firms to pull back from the country.

Equiti’s hub sidesteps that entirely by treating India as a source of talent rather than customers.

The company said Bangalore would give it access to the city’s engineers, start-ups and research institutions, and cast the project as part of building what it called AI-powered technology to widen access to wealth.

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That last phrase echoes the branding Equiti used for its retail wealth push, when it opened a multi-asset fund to smaller investors.

Sartaj Singh, Equiti’s chief technology officer, tied the decision partly to his own history in the city. “Bangalore played an important role in my early training and professional development,” he said.

Singh was promoted to CTO in August, with a brief to fold AI and automation into the group’s platforms.

Bangalore Becomes a Broker Engineering Base

Equiti is not breaking new ground here so much as following a trail. Axi, the Australia-based FX and CFD broker, set up its own technology and product centre in Bangalore, staffing it with about 30 people under a regional head of engineering and calling the city’s engineering pool widely respected.

Other firms have gone after the same talent in different cities. Deriv opened a second Cyprus office in Nicosia aimed at trading and technology hires, with AI a stated focus.

The hiring race has reached the executive tier too. amana named a former Devexperts CTO this month, while CFI Financial installed its own technology chief in December as it expanded across the Gulf.

Akshit Jain, Equiti’s managing director for India and group head of development for client platforms, described the plan in scale terms.

“Bangalore gives us access to one of the strongest technology talent pools,” he said.

What Equiti did not say was how big the operation will be. The company gave no headcount target, no investment figure and no timeline for when the hub reaches full strength, leaving the scale of the commitment unclear.

Building Beyond the Brokerage

The hub lands on top of a wider effort to turn Equiti into something broader than a regional CFD shop. The group bought its way into digital payments through its acquisition of Cloud Invest, and has kept hiring on the technology side, including a former Meta engineer brought in to lead data and AI work.

Equiti holds licenses in the United Kingdom, the United Arab Emirates and Cyprus, among other jurisdictions, and runs brokerage, payments and asset-management arms across Africa, Asia, Europe and the Middle East.

For now, the Bangalore hub is a statement of intent with no size attached. Equiti also does not disclose its trading volumes, unlike several MENA rivals that have reported record numbers over the past year.

This article was written by Damian Chmiel at www.financemagnates.com.Retail FXRead More

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