FP Markets granted second African regulation to further expand its regulatory footprint in Africa.
05 December 2023
In a move that further reinforces its position as a truly global online Forex and CFDs broker, FP Markets has announced that it has been granted a non-dealing Foreign Exchange Broker License by the Capital Markets Authority (CMA) of Kenya for its locally formed subsidiary FP Markets Limited.
The Kenya regulation adds to FP Markets’ regulatory footprint in Africa having received a regulatory licence from the Financial Sector Conduct Authority (FSCA) of South Africa on 10 May 2022 as it continues 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 addition of the CMA license extends the group’s regulatory presence which now includes regulated companies authorised by the Australian Securities and Investments Commission (ASIC) Financial Sector Conduct Authority (FSCA) of South Africa, the Financial Services Commission (FSC) of Mauritius, the Cyprus Securities and Exchange Commission (CySEC) and the Securities Commission of the Bahamas (SCB).
As a globally leading brokerage that prides itself on providing unparalleled trading conditions, traders and investors can access over 10,000 tradeable markets through trading platforms MT4, MT5, cTrader and Iress. From popular currency pairs such as the EUR/USD and USD/JPY to small-cap stocks across global exchanges, in addition to Indices, Commodities, Bonds, ETFs and Digital Currencies, FP Markets looks forward to providing world-class trading services to clients throughout Africa.
Established in 2005, FP Markets is a Multi-Regulated Brand providing clients with over 10,000 tradable instruments across key asset classes and offers aggregate pricing across several top-tier liquidity providers. Additionally, FP Markets deliver Consistently Tight Spreads, Rapid Execution, Unmatched 24/7 Multilingual Customer Support, and various Account Types to suit all trading strategies and styles.