ETX Capital and XTB obtain new regulatory licenses: South Africa and Dubai

Rick Steves

The leading FX and CFD brokers keep on making their way into new jurisdictions as part of their growth plans.


The Financial Sector Conduct Authority (FSCA) in South Africa has granted London-based FX broker ETX Capital a license as a local Financial Service Provider.

The South African financial watchdog is responsible for market conduct regulation and supervision, protecting traders by promoting fair treatment from financial institutions.

Nandik Barbhaiya, Chief Marketing Officer at ETX Capital, said: “Achieving this important milestone is paramount to our expansion plans and is yet another feather in the ETX cap. We are committed to strengthening our relationship with traders in the region and in upcoming weeks we will be working behind the scenes to welcome our South African clients onto our new license.”

The FCA-regulated broker, which was acquired by Swiss firm Guru Capital in 2020, will now provide South Africa-based traders with CFDs on thousands of global markets across all major asset classes from forex, indices, shares, and commodities.

Guru Capital took ownership of the Cyprus-based operation of ETX Capital, Monecor Europe, in April 2021 following regulatory approval.

Also announcing a new regulatory authorization is the MENA operation of FX broker XTB. The trading firm has been granted a category three license from the Dubai Financial Services Authority (DFSA).

This will allow XTB to expand its footprint across the Middle East and North Africa. The broker is very well established in Europe and the United Kingdom, with regulated companies authorized by CySEC in Cyprus, KNF in Poland, and the UK’s Financial Conduct Authority.

XTB, also known as X-Trade Brokers, will be able to provide its range of FX and CFDs products to retail and professional clients in the United Arab Emirates as well as other GCC states.

The MENA operation will target a number of markets including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and North Africa.

XTB’s initial public offering in 2016 valued the business at $400 million, with bookrunners going as up as $618.4 million. Five years have gone by and the firm took solid steps towards growth as it expands its footprint across the globe.

The DFSA license will provide new opportunities for business growth as XTB establishes its brand in the Middle East and North Africa, which includes quite a number of jurisdictions that have grown friendlier toward FX and CFD trading.

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