FP Markets Secures FX Broker Licence in Kenya

FP Markets, an Australian regulated global Forex Broker, has obtained a non-dealing FX Broker License from the Capital Markets Authority (CMA) of Kenya.

The new license allows its locally formed subsidiary, FP Markets Limited, to operate as a regulated forex broker in the region, further strengthening the group's position in the online Forex and CFD trading industry and expanding its global regulatory presence in South Africa.

Craig Allison, CEO of FP Markets, commented: "We are thrilled to have been granted the licence by the CMA. Kenya has emerged as an important new strategic location for us and is a country that boasts a young and dynamic trading and investing community. It stands out as a well-regulated financial services centre and a hub for large parts of Africa and the economy here is advanced, characterized by a strong entrepreneurial spirit and consistent growth. We're looking forward to operating in Kenya and working together with the local regulatory bodies and government to ensure the industry continues to develop in a sustainable manner."

With the inclusion of the CMA license, the group's regulatory reach now covers authorized and regulated entities, which fall under the oversight of several regulatory bodies including the Australian Securities and Investments Commission (ASIC), the Financial Sector Conduct Authority (FSCA) of South Africa, the Financial Services Commission (FSC) of Mauritius, the Cyprus Securities and Exchange Commission (CySEC), and the Securities Commission of the Bahamas (SCB).

Additionally, FP Markets has been expanding its offerings in recent years, including listings of commodity CFDs​ on Lead, Zinc, Nickel, Aluminium, and Copper last month, as well as the addition of three emerging currencies​ against the US Dollar on its MT4 and MT5 trading platforms in May.