Finvasia Group’s innovative Forex and CFD brokerage, Fxview, received full authorisation from the South African regulator, the FSCA. Registered under number 2018/303451/07- Licence No. 50410, Fxview will provide brokerage and portfolio management services in South Africa.
This licence opens more opportunities and a new growth path for the broker on the African continent. As Africa as a region emerges as a sought-after destination for financial service providers, Fxview could not stay behind.
According to Janis Anastassiou, MD Financial Intermediation at Finvasia Group, “Entering South Africa and the African continent has been on our horizon for some time. As we aim to strengthen our position in the region, the FSCA licence offers Fxview opportunities not only in expanding our presence but the opportunity to reach a broader client base and offer them access to an award-winning broker.”
The decision to set foot in South Africa is the result of a well-rounded market research. The country arises as one of the top 10 most tech-driven states in Africa, with a population actively involved in stock trading and investing. Moreover, data gathered by Statista shows that South Africa’s total transaction value from this type of activities is on the rise and will likely reach an annual growth rate (CAGR) of 19% during the period 2023-2027. At the same time, the total transaction value estimate is seen reaching $17.39 billion by 2027.
The interest in digital asset investments has also spiked in the past few years. Virtual asset investments are expected to arrive at $8.67 billion during 2023, Statista also indicates.
Against this background, Fxview’s offering fills market demand. Providing access to 500+ CFD instruments based on stock shares, indices, cryptocurrencies, commodities, and other popular asset classes, as well as 70 major, minor and exotic Forex pairs, the brokerage firm meets every South African trader’s expectation.
In addition to a vast asset offering, Fxview also gives access to multiple trading tools and platforms, including MT4, MT5 and ActTrader, an innovative trading infrastructure allowing investors to tailor their experience by adding or removing windows, indicators, and other interface elements as it suits them.
Finvasia CEO and Co-founder Tajinder Virk also commented: “I am pleased to see the progress Fxview has made so far, as part of our group. The FSCA licence marks an important step forward as we foray into new markets not only in the African region but also globally. This is only the beginning of an exciting journey ahead.”
Fxview is authorised to provide financial services across several jurisdictions around the world, including Cyprus, where it holds a licence from the Cyprus Securities and Exchange Commission (CySEC), and is registered with other top-tier regulatory bodies, including the UK’s FCA, France’s ACPR, Germany’s BaFin, and more.
As a Finvasia Group company, Fxview operates in accordance with the rules established by the Mauritius Financial Services Commission (FSC) for non-bank financial services and is authorised to conduct Investment Dealer operations, including the Distribution of Financial Products. This is a financial authorisation of a higher level, which alongside the FSCA licence places Fxview on a whole new level in terms of financial services provision.
To learn more about Fxview’s licensing and regulation, visit
https://fxview.com/global/group-licenses-and-registrations