IC Markets Bags Regulatory License in Kenya

Fazzaco learned that IC Markets, the Australia-based leading online trading provider, has secured a regulatory license from the Capital Markets Authority (CMA) in Kenya.

IC Markets acquired the new license through its Kenyan registered entity, IC Markets Kenya Limited, which has been allowed to operate as a non-dealing online Forex broker in the country.

"The increasing demand for licenses in the intermediary sector in recent years is a positive emergence as it enhances competition, innovation, and the reach of capital markets products and services to retail investors," said the CEO of CMA, Wyckliffe Shamiah.

In March, Fazzaco reported that IC Markets was making its foray into the prop trading industry​ with the soft launch of its prop trading platform icfund.com.