IC Markets expands in Kenya, bolstering global reach and fostering financial empowerment. Stay updated with the latest news.
IC Markets expands in Kenya, bolstering global reach and fostering financial empowerment. Stay updated with the latest news.
IC Markets’ expands into Kenya fintech sector signifies a significant stride in its global presence. Securing a licensing agreement from Kenya’s Capital Markets Authority (CMA) highlights the company’s commitment to broadening its reach and fostering regional financial opportunities. This strategic move underscores the company’s commitment to offering a versatile multi-asset platform while prioritizing security and trust, fostering a safe user trading environment.
Kenya boasts a population of over 54 million and a nominal GDP of approximately $113 billion, making it the seventh-largest economy in Africa. IC Markets’ entry into this market promises to bolster investor confidence and catalyze business expansion despite prevailing global uncertainties.
The recently obtained license permits IC Markets to function as a non-dealing online forex broker in Kenya, positioning it alongside other international trading entities operating within the region. While the company has yet to disclose specific details regarding the operational parameters of this permit, the approval signifies a significant milestone in its expansion strategy.
Wyckliffe Shamiah, CEO of the Capital Markets Authority, hailed IC Markets’ foray into the Kenyan market, noting that the escalating demand for licenses within the trading sector reflects positive trends in competition, innovation, and the democratization of capital market products and services to retail investors.
This recent advancement aligns with IC Markets’ overarching plan to extend its influence worldwide while ensuring compliance with regulatory requirements on various continents. Alongside Kenya’s Capital Markets Authority, IC Markets operates under the supervision of regulatory entities like the Australian Securities and Investments Commission (ASIC), the Seychelles Financial Services Authority (FSA), and the Cyprus Securities and Exchange Commission (CySEC).
By expanding into Kenya’s vibrant fintech space, IC Markets aims to tap into the country’s burgeoning market potential and contribute to the growth and development of the local financial ecosystem. Through its emphasis on security, trust, and regulatory compliance, IC Markets seeks to provide Kenyan traders with access to a reliable and transparent trading platform, thereby fostering financial inclusion and empowerment in the region.
Also, Stay Updated With The Latest Broker News.
Vantage is a well-decorated multi-asset broker based in Sydney, boasting over ten years of profound market knowledge. Operating in 172 countries, they employ a workforce of over 1,000 professionals distributed across 30 offices all across the globe.
Established in 2016, Blueberry Markets is an Australia-based broker that specializes in forex and CFD trading while being overseen by regulatory bodies ASIC. The broker provides traders globally with MetaTrader 4 and MetaTrader 5 trading platform options.
XM is a global online broker that specializes in Forex and CFD trading. Headquartered in Cyprus, the company operates under the regulation of CySEC. It offers traders the opportunity to trade various financial instruments, including forex pairs, commodities, indices, and stocks.
Please drop your email below to get daily updates about what we do
FX Broker Tester is your guide to uncovering dependable Broker partners perfectly aligned with your needs in the financial markets. Identify the ideal match by exploring the meticulous evaluation conducted by our team of seasoned analysts. Via our platform, you gain entry to comprehensive broker reviews, rankings, detailed comparisons, the latest broker news, and a calendar of worldwide Forex events.
