Admirals secures CMA license in Kenya and acquires Seychelles-authorized securities dealer
FX and CFD brokerage group Admirals has announced it secured a non-dealing online forex trading broker license in Kenya as the company further expands across the globe, now with a focus in Africa.
Admirals Kenya Limited is the local entity that has obtained authorization from the Capital Markets Authority (CMA), Kenya’s financial watchdog.
Kenya has become one of the largest FX hubs in Africa, now home to an ever larger presence of renowned FX brokerages who see much room for growth in the continent.
Admirals adds Kenya and Seychelles to regulated FX/CFD brokerage operations
“The Capital Markets Authority (CMA) has licenced Admirals Kenya Limited as a non-dealing online forex trading broker under the Capital Markets Regulations. Admirals hopes the achieving of this license shall assist further growth in Africa and grant access to a stringently regulated market”, said Admirals in an official statement.
Admirals has also announced that the Cyprus and South African entities – Admiral Markets Cyprus and Admirals South Africa – jointly entered into a takeover agreement of Aglobe Investments Ltd, incorporated in the Republic of Seychelles and licensed as a securities dealer by the Seychelles Financial Services Authority.
The brokerage group is also licensed by the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). The regulatory approvals allow the brokerage firm to offer a set of financial services and also approved to provide cross-border services across the EU / EEA under European passport rights. The company maintains its core offices in Estonia, Jordan, Cyprus, Malaysia and UK.
Admirals added over 300 US stock CFDs to MT5 offering
Admirals has recently expanded its service offering and trading products by incorporating new markets, namely more than 300 US stock CFDs on MetaTrader 5. As many brokers continue to transfer activity to the MT5 terminal, it is imperative to increase the base of assets and products into the platform, in order to accommodate its entire client base.
In a recent statement, the broker informed its clients about the new additions with an initial focus on blue-chip companies listed on US exchanges. These include Roku, DoorDash, Data Dog and many other US-focused and globally recognized brands. However, the ultimate goal of the brand is to grow its offering to include single stock CFDs for different companies globally, which will be added gradually.
The recent additions increase the number of tradable assets at Admirals to 3,600 products, covering stocks, forex pairs, commodities, indices, ETFs and cryptocurrency markets. The case for adding more assets has been growing in recent years as the company’s clients from certain regions, including fund managers, hedge funds, and commodity trading advisors, are keen to actively trade local stocks.
“With 3,600+ of other leveraged CFD products covering Indices, Commodities, Currencies, Stocks and ETFs, the latest additions offer a comprehensive range of choices for even the most diversified investing strategies,” the statement reads.