Admirals secures CMA license in Kenya under Admirals Kenya Limited to help support expansion into African region.
To support expansion into the African region, FX and CFD broker, Admirals has been granted a non-dealing online forex trading brokerage license in Kenya through its subsidiary Admirals Kenya Limited. The local entity successfully obtained authorization from the Capital Markets Authority (CMA), Kenya's financial watchdog.
As one of Africa's largest forex industry centers, it's no wonder that many brokers have started flocking to direct their market focus there.
"The Capital Markets Authority (CMA) has licensed Admirals Kenya Limited as a non-dealing online forex trading broker under the Capital Markets Regulations. Admirals hopes the achieving of this license shall assist further growth in Africa and grant access to a stringently regulated market," said Admirals in an official statement.
Admirals entities in Cyprus and South Africa, Admiral Markets Cyprus and Admirals South Africa, jointly entered into a takeover agreement for Aglobe Investments Ltd, which was incorporated in the Republic of Seychelles and licensed as a securities dealer by the Seychelles Financial Services Authority.
Apart from the Seychelles and Kenya, this MetaTrader-only broker is also licensed by the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). Regulatory approvals allow brokerage firms to offer a range of financial services throughout Europe. To date, the company has offices in Estonia, Jordan, Cyprus, Malaysia, and the United Kingdom.
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