Premium Forex broker ETX Capital recently received licensure from the Financial Sector Conduct Authority (FSCA) in South Africa. The license authorizes the London-based brokerage firm to operate as a Financial Service Provider in South Africa.
The FSCA is South Africa’s financial regulator tasked with overseeing and monitoring the country’s financial markets, as well as fortifying the integrity of those markets by protecting consumers and traders from unfair practices.
ETX Capital is already renowned in the UK, where it maintains a strong presence in the Forex and CFD markets. The brokerage house was acquired by Swiss firm Guru Capital in 2020 and is regulated by the UK’s Financial Conduct Authority (FCA). Now, the broker is looking to carve our similarly prominent positions in the European market and beyond.
“Achieving this important milestone is paramount to our expansion plans and is yet another feather in the ETX cap,” said ETX Capital’s Chief Marketing Officer Nandik Barbhaiya. “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.”
South African traders are offered ETX Capital’s signature proposition, which includes low commissions, tight spreads and instant execution on its 5,000 CFDs and thousands of other global markets. Trading is available across many different types of assets, including shares, commodities, Forex and indices. ETX Capital also offers traders financial spread betting, which can be done across the broker’s award-winning platform, optimized for mobile and desktop.
Spread bets and CFDs are not simple trading instruments, and leverage causes traders to face a significant risk of losing money quickly. 74.5% of retail investor accounts lose money when spread betting or trading CFDs with ETX. Traders should first consider whether they understand how spread bets or CFDs work and whether they can absorb the risk of losing capital that accompanies trading these assets.