Exness Acquires FSCA License To Operate in South Africa

Global multi-asset broker Exness has acquired an FSCA license in South Africa and is now authorized as a Financial Service Provider locally.

January 27, 2021 | AtoZ Markets – The international forex broker Exness, previously known in the post-Soviet space, announced that it received a license from the Financial Sector Supervision Authority (FSCA) in South Africa.

Registration with the regulatory body will allow him to operate as a financial service provider in the region. The online broker named Africa an important region for strategic expansion.

Exness Secures FSCA License

The official statement says that Exness has received an FSCA license to provide services to partners and traders in the region within a robust regulatory environment. The brokerage company already has an extensive client base in South Africa, including professional traders and partners.

Commenting on the news, Paul Margarites, Exness’s Sub-Saharan Africa Director, said:

This is a very important milestone for Exness as Africa plays an important role in our strategic plans for global expansion. We are fortunate enough to work with some of the most professional traders and partners in the region and we look forward to the future.”

FSCA is responsible for the regulation and supervision of market behavior in South Africa. It is committed to improving the efficiency and integrity of financial markets, protecting investors, and traders by ensuring fair treatment from financial institutions,” Exness said in a statement.

Read also: USGFX Begins Operations in South Africa With FSCA License

Regional Expansion & Transparency

South Africa is an emerging market with great potential. The country has experienced rapid economic growth in the past decade. Several financial companies around the world are planning to enter the region with the aim of developing cryptocurrency trading.

The FSCA license indicates that Exness plans to develop in the region within the regulatory environment. In addition, Exness regularly updates financial statements and KPIs on its website to ensure maximum transparency in its operations.

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