ETX Capital revealed that it has obtained a licence from the Financial Sector Conduct Authority (FSCA) in South Africa. The London-based broker is now officially authorised to operate in the region as a financial service provider.
With a strong presence in the UK market, ETX Capital recently confirmed its plans to expand into Europe and beyond.
Chief Marketing Officer, Nandik Barbhaiya, commented:
Achieving this important milestone is paramount to our expansion plans and is yet another feather in the ETX cap. We are committed to strengthening our relationship with traders in the region and in upcoming weeks we will be working behind the scenes to welcome our South African clients onto our new license.
ETX clients in South Africa can benefit from instant execution, tight spreads and low commissions on CFDs on thousands of global markets – across all major asset classes from forex, indices, shares and commodities.
Regulated by the FCA, ETX Capital was acquired by Swiss firm Guru Capital in 2020. The company offers more than 5,000 CFDs as well as financial spread betting across their desktop and mobile platforms.
It was recently revealed that Swiss private equity firm, Guru Capital plans to acquire Oval Money Ltd. The UK-based fintech firm will be integrated with CFD broker ETX Capital, which Guru bought last year from UK private equity firm, JRJ Group.