FP Markets announced that it has been granted a non-dealing foreign exchange broker license by the Capital Markets Authority (CMA) of Kenya for its local arm, FP Markets Limited.
The new license strengthens FP Markets' position not only on the African continent but also as a global online Forex and CFD broker.
"We are very pleased to receive the license from the CMA. Kenya has become an important new strategic location for us and is a country that boasts a young and dynamic trading and investment community. It stands out as a well-regulated financial services hub for much of Africa, and the economy here is mature, with a strong entrepreneurial spirit and consistent growth. We look forward to operating in Kenya and working with the local regulators and government to ensure that the industry continues to grow in a sustainable manner," said Craig Ellison, CEO of FP Markets.
The addition of the CMA license expands the group's regulatory presence, which now includes companies licensed by
- The Australian Securities and Investments Commission (ASIC),
- South Africa's Financial Sector Conduct Authority (FSCA),
- Mauritius Financial Services Commission (FSC),
- Cyprus Securities and Exchange Commission (CySEC),
- Securities Commission of the Bahamas (SCB).
Founded in 2005, FP Markets brokerage offers clients access to over 10,000 assets through the MT4, MT5, cTrader, and Iress trading platforms. In addition, FP Markets offers consistently low spreads, fast execution, unrivaled 24/7 multi-lingual customer support, and a variety of account types to suit all trading strategies and styles.
It is also worth noting that FP Markets has been awarded the "Best Forex Trading Tools 2023" award by FXScouts for its outstanding trading solutions.
"This award acknowledges and emphasizes that the needs of traders and investors come first at FP Markets, and the team is proud to have its efforts recognized. Being able to choose from a wide range of trading tools to confidently and effectively analyze and trade today's financial markets is critical for many traders and investors," said Aaron Hill, Head of Content and Education at FP Markets, upon receiving the award.
At the Ultimate Fintech Awards APAC 2023 ceremony, the broker also won the titles of "Best Trade Execution" and "Most Transparent Broker," further strengthening its status in the forex market.
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