Awarded to FP Markets, a second African regulation expands its regulatory footprint in Africa.
FP Markets has been granted a non-dealing Foreign Exchange Broker Licence by Kenya’s Capital Markets Authority (CMA) for its locally formed subsidiary, FP Markets Limited. The granting of the licence further reinforces the company’s position as a global online CFD and Forex broker.
This regulation by the Kenya authority adds to FP Markets’ regulatory presence in Africa. On the 10th of May 2022, FP Markets received a regulatory licence from the Financial Sector Conduct Authority (FSCA) of South Africa. These events have served to strengthen its global regulatory presence across multiple continents.
Craig Allison, FP Markets CEO, commented on the news, adding:
We are thrilled to have been granted the licence by the CMA. Kenya has emerged as an important new strategic location for us and is a country that boasts a young and dynamic trading and investing community. It stands out as a well-regulated financial services centre and a hub for large parts of Africa and the economy here is advanced, characterized by a strong entrepreneurial spirit and consistent growth. We’re looking forward to operating in Kenya and working together with the local regulatory bodies and government to ensure the industry continues to develop in a sustainable manner.
The granting of the CMA licence increases the regulatory presence of the group in several countries. There are now regulated companies authorized by the Australian Securities and Investments Commission (ASIC), the Financial Services Commission (FSC) of Mauritius, the Financial Sector Conduct Authority (FSCA) of South Africa, the Cyprus Securities and Exchange Commission (CySEC) and the Securities Commission of the Bahamas (SCB).
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FP Markets is a leading global brokerage that takes pride in providing outstanding trading conditions. Investors and traders can access over 10,000 markets via MT4, MT5, cTrader and the Iress trading platforms. Clients can trade popular currency pairs, such as the EUR/USD, USD/JPY, and small-cap stocks on global exchanges. In addition, trading in Indices, Commodities, Bonds, ETFs, and Digital Currencies is also accessible. FP Markets will deliver world-class trading services to clients throughout Africa by providing such a wide range of services.
FP Markets is a Multi-Regulated Brand established in 2005. It provides its clients with over 10,000 tradable instruments across key asset classes, offering aggregate pricing across several top-tier liquidity providers. FP Markets delivers Consistently Tight Spreads, Unmatched 24/7 Multilingual Customer Support, Rapid Execution, and a range of Account Types to suit all trading styles and strategies.
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