FXTM gains license from FSB in South Africa as global expansion continues

Today, Cyprus based retail FX brokerage owned by Andrey Dashin has announced that it has received a license from the Financial Services Board (FSB) in South Africa. The license was obtained on July 5th, 2016 (FSP no.46614) and provides the company with the opportunity to expand its strategic footprint, while reaching new customers and acquiring […]

fxtm

Today, Cyprus based retail FX brokerage owned by Andrey Dashin has announced that it has received a license from the Financial Services Board (FSB) in South Africa.

The license was obtained on July 5th, 2016 (FSP no.46614) and provides the company with the opportunity to expand its strategic footprint, while reaching new customers and acquiring local partners in a market of high potential.

Commenting on this latest acquisition, Olga Rybalkina, CEO of ForexTime Limited, said, “This latest development represents another key milestone for FXTM, and falls directly in line with our mission to expand across the globe. We continue to experience growth on a stable level with our company having developed a strong reputation for a commitment to providing excellent trading terms and a transparent service.

“Since our inception, we have steadily established ourselves as an authority in this industry and developed a reputation as a trusted broker in the Asian, European and Middle Eastern markets. South African clients, affiliates and partners can now enjoy all of the benefits and advantages of trading with FXTM, and we proudly look forward to building lasting relationships with these traders as a global broker with a local touch, one that was formed on the core principle of trust.”

The recently obtained license from the FSB adds to what has already been a busy 2016 for FXTM, with the broker having also announced the opening of its UK branch earlier this year, shortly following the appointment of CNBC Arabia’s Hussein Al Sayed as Chief Market Strategist and the face of its brand for the Middle East region.

Away from international developments, FXTM has also focused on developing its product portfolio with the introduction of the Shares Account – offering access to 180 company shares with direct connection to product pricing on the NYSE and NASDAQ exchanges – and the most recent company announcement being the updated MT5 platform with the option of hedging.

Read this next

Digital Assets

Point72 invests $77.5 million in Bitcoin, Morgan Stanley holds $269.9 million

Point72, the $34 billion hedge fund owned by billionaire and New York Mets owner Steven Cohen, held $77.5 million in the Fidelity Wise Origin Bitcoin Fund (FBTC) at the end of the first quarter, according to a recent filing.

Digital Assets

Binance claims Nigerian officials sought $150 million bribe

A Nigerian court has ruled that Tigran Gambaryan, a Binance executive detained on charges of tax evasion and money laundering, can stand trial on behalf of the world’s largest cryptocurrency exchange.

Digital Assets

Kraken reviews Tether listing in Europe ahead of MiCA adoption

Cryptocurrency exchange Kraken is “actively reviewing” whether to delist the stablecoin Tether (USDT) from its European platform, according to a report by Bloomberg.

blockdag

Discover How MoonBag Coin Presale Stacks Up Against Dogecoin & Litecoin

Discover how the MoonBag Coin presale compares to Dogecoin and Litecoin, with unique features, a robust presale structure, and new opportunities in 2024.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: Federal Reserve Policy, USD, May 17 ,2024

Overall, both the Federal Reserve’s policy and the US dollar’s outlook are shrouded in some degree of uncertainty.

Market News, Tech and Fundamental, Technical Analysis

Ethereum Technical Analysis Report 17 May, 2024

Ethereum cryptocurrency can be expected to rise further toward the next resistance level 3200.00, which is the top of the previous impulse wave i.

Digital Assets

Hong Kong adopts digital yuan payments through Chinese banks

Hong Kong has launched a pilot program enabling digital yuan payments through major Chinese banks, marking the first instance of China’s digital currency project being deployed outside the mainland.

Retail FX

Saxo Bank increases client assets five-fold to $116 billion

Copenhagen-based broker Saxo Bank has achieved a major milestone, surpassing $116 billion (DKK 800 billion) in client assets.

Inside View

ISDA says US Basel III “endgame” to heighten market risk capital

ISDA further explained that, by requiring banks to hold additional capital that is misaligned with levels of risk, the proposal would significantly reduce capital market access for US end users and businesses, restrict the ability of businesses to hedge exposures to changes in commodity prices, and increase the cost of everyday consumer goods, including food and gasoline.

<