FP Markets secures second regulatory approval in Africa: Kenya
“We are thrilled to have been granted the license 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 center and a hub for large parts of Africa and the economy here is advanced, characterized by a strong entrepreneurial spirit and consistent growth.”
FP Markets, a renowned online Forex and CFDs broker, has recently enhanced its regulatory footprint in Africa with a significant achievement.
The broker has been awarded a non-dealing Foreign Exchange Broker License by Kenya’s Capital Markets Authority (CMA), marking this as its second regulatory approval in the African continent.
This new milestone follows FP Markets’ acquisition of a similar license from the Financial Sector Conduct Authority (FSCA) of South Africa on May 10, 2022, showcasing its commitment to expanding its global regulatory presence.
“We’re looking forward to operating in Kenya and working together with the local regulatory bodies”
The CEO of FP Markets, Craig Allison, highlighted Kenya’s burgeoning status as a strategic location for FP Markets, the country’s dynamic trading and investing community, advanced economy, and robust financial services sector.
“We are thrilled to have been granted the license 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 center 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.”
FP Markets prides itself on offering traders and investors access to a vast array of over 10,000 tradable markets. These include popular currency pairs, small-cap stocks across global exchanges, and a variety of indices, commodities, bonds, ETFs, and digital currencies.
Established in 2005, FP Markets has carved a niche for itself in the industry by offering a wide range of tradable instruments, consistently tight spreads, rapid execution speeds, and unmatched 24/7 multilingual customer support. The broker caters to a diverse range of trading strategies and styles with its various account types.
Offering a range of powerful online trading platforms, including their Mobile App, MetaTrader 4, MetaTrader 5, WebTrader, cTrader, and Iress, FP Markets ensures that traders have access to the best tools and technologies in the market. The company’s competitive edge is significantly bolstered by its highly competitive interbank Forex spreads, which start from as low as 0.0 pips.
FP Markets licensed in Australia, South Africa, Mauritius, Europe, and Bahamas
This Kenyan license further broadens FP Markets’ impressive regulatory portfolio, which includes licenses from various prestigious global authorities such as the Australian Securities and Investments Commission (ASIC), the 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).
The company’s commitment to excellence and customer satisfaction has not gone unnoticed in the industry. FP Markets has been the recipient of numerous awards, including being recognized as the ‘Best Global Forex Value Broker’ for five consecutive years (2019-2023) at the Global Forex Awards. It has also been named the ‘Best Forex Broker – Europe’ and the ‘Best Forex Partners Programme – Asia’ at the Global Forex Awards 2022 and 2023.
Moreover, the Ultimate Fintech Awards 2022 awarded FP Markets for ‘Best Trade Execution’, and the company was crowned ‘Best CFD Broker in Africa’ at the FAME Awards 2023. Furthermore, FP Markets was honored with the titles of ‘Best Trade Execution’ and ‘Most Transparent Broker’ at the Ultimate Fintech Awards APAC 2023.