February 24, 2024

On-line dealer grabs banking licence

World multi-asset dealer Exness has just lately obtained its licence from the Capital Markets Authority of Kenya (CMA). The corporate is now authorised to function as a non-dealing on-line dealer within the African nation.

The brand new licence will permit Exness to supply buying and selling merchandise to its Kenya-based shoppers beneath a safe regulatory setting. It would strengthen the dealer’s presence in Sub-Saharan Africa.

Recognized for its better-than-market buying and selling situations, Exness has been experiencing steady development since its inception in 2008. In March 2022, the corporate reported a record-breaking buying and selling quantity of over $2 trillion, marking an business first.

Sub-Saharan Africa is a major a part of Exness’ strategic enlargement plans. With a licence from the Monetary Sector Conduct Authority of South Africa beneath its belt since 2021, Exness’ profitable acquisition of its Kenyan licence represents its dedication to the SSA area. It performs an important function in increasing Exness’ African and international footprint.

‘The CMA licence is a crucial step for Exness to develop an much more highly effective presence in Africa,’ stated Paul Margarites, Exness Regional Business Director for Sub-Saharan Africa.

‘Because of our FSCA licence, we received off to begin in establishing our popularity within the continent in 2021. We sit up for offering our services and products to extra merchants throughout Africa by way of our new licence.’

Based in 2008, Exness Group is a multi-asset dealer famend for its variety of buying and selling merchandise and customer-centric method. At Exness, merchants can interact with a variety of monetary devices, together with shares, indices, cryptocurrencies, foreign exchange, valuable metals and commodities.

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Exness’ licences contribute to its reliability and popularity. Aside from its Kenyan and South African licences, the group holds licences from a number of different monetary regulatory authorities. Examples embody the Monetary Conduct Authority (FCA) of the UK, the Cyprus Securities and Alternate Fee (CySEC) and the Seychelles Monetary Providers Authority (FSA).