LegacyFX opens new branch office in South Africa

LegacyFX, an online forex and CFD broker, announced its opening of new branch office in South Africa, enabling the company to localize its services to the African region. 

Africa has recently grown as a hotspot in the forex and CFD industry, with approximately 1.3 million traders across the continent. Market participants from countries such as South Africa, Nigeria, and Kenya are the most active. Now the company is currently seeking regulatory lincensing under the South African Financial Sector Conduct Authority (FSCA), hoping to appeal to this demographice. Considering the region's high demand for investors and a strong regulated financial sector, it is no wonder why the company chose to expand here.

LegacyFX has recently appointed Marius Grobler as Managing Director of its branch office in South Africa. Marius has over six years' experience in the industry with an impressive skill set in strategic business management, business innovation and establishment, and operational management. That's why he is chosen to expand business here.

"We believe this expansion will provide users in the region, a new and attractive investment opportunity with an established firm in the industry, by providing them with our top-notch services and offerings," says Jad Abdelrahman, CEO at LegacyFX; "Also, we are excited to welcome Marius Grobler to our team. The company is confident that his skills and experience as an exceptional manager will greatly bolster our move to South Africa."

Ultimately, LegacyFX aims to position itself in South Africa both as a retail broker and as an hedge fund. This extra offering will be especially advantageous to clients who are not willing to trade for themselves, as they will be able to directly invest with the LegacyFX fund. The company expects to achieve this goal once it has reached its retail targets for the area.