OnEquity Receives Brokerage License in South Africa

OnEquity, an FX broker incorporated in the Seychelles, announced that it has obtained a full license from the South African Financial Sector Conduct Authority (FSCA), allowing it to provide financial services locally through its South African subsidiary OnEquity (Pty) Ltd.

In a LinkedIn post, the broker stated: "We're pleased to announce that OnEquity has achieved full licensing from the FSCA in South Africa, a significant milestone reflecting our dedication to transparent trading environments. This marks our expansion into Africa's burgeoning market, offering comprehensive trading experiences and aiming to establish a robust local presence."

In addition, OnEquity has hired Enver Snyders, a former IronFX senior account manager, as the country manager to lead its business in South Africa.

Snyders said: "Taking over Sub-Saharan Africa is a complex and challenging task for a forex broker. We have conducted thorough market research from our side to understand the local forex landscape, regulatory environment, economic conditions, and potential opportunities in Sub-Saharan Africa."