FP Markets obtained a Kenyan Non-dealing Foreign Exchange Broker License from the Capital Markets Authority (CMA) to strengthen its presence in the African region.

FP Markets

Following its commitment to strengthening its position as a global online trading provider, forex broker FP Markets is expanding its presence in the African fintech space. This expansion obtained a Kenyan Non-dealing Foreign Exchange Broker License from the Capital Markets Authority (CMA) for its subsidiary. This was after receiving regulations from the South African Financial Sector Authority (FSCA) on 10 May 2022.

With this forex broker news, the zero spread broker can continue to complement its global regulations across multiple continents. Other regulators include the Australian Securities and Investments Commission (ASIC), the Financial Services Commission (FSC) of Mauritius, the Cyprus Securities and Exchange Commission (CySEC) and the Securities Commission of the Bahamas (SCB).

FP Markets CEO Craig Allison commented, "We are very pleased to obtain the license from the CMA. Kenya has emerged as an important new strategic location as a country with a business and investment community. The country serves as the financial and administrative centre for much of Africa, and its economy is advanced, characterized by strong entrepreneurship and sustainable growth."

Founded in 2005, forex broker FP Markets offers a variety of trading tools with powerful trading technology and an ECN environment recognized by more than 40 industry awards. Traders and investors can access over 10,000 trading instruments via the MT4, MT5, cTrader and Iress trading platforms. Moreover, FP Markets offers tight spreads, fast processing, and some accounts to suit all trading strategies and styles.

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