Exness acquires Capital Markets Authority (CMA) licence in Kenya
Global multi-asset broker Exness has recently obtained its licence from the Capital Markets Authority of Kenya (CMA). The company is now authorised to operate as a non-dealing online broker in the African country.
The new licence will allow Exness to offer trading products to its Kenya-based clients under a secure regulatory environment. It will strengthen the broker’s presence in Sub-Saharan Africa.
Known for its better-than-market trading conditions, Exness has been experiencing continuous growth since its inception in 2008. In March 2022, the company reported a record-breaking trading volume of over $2 trillion, marking an industry first.
Sub-Saharan Africa is a significant part of Exness’ strategic expansion plans. With a licence from the Financial Sector Conduct Authority of South Africa under its belt since 2021, Exness’ successful acquisition of its Kenyan licence represents its commitment to the SSA region. It plays a vital role in expanding Exness’ African and global footprint.
‘The CMA licence is an important step for Exness to develop an even more powerful presence in Africa,’ said Paul Margarites, Exness Regional Commercial Director for Sub-Saharan Africa.
‘Thanks to our FSCA licence, we got off to a good start in establishing our reputation in the continent in 2021. We look forward to providing our products and services to more traders across Africa via our new licence.’
Founded in 2008, Exness Group is a multi-asset broker renowned for its diversity of trading products and customer-centric approach. At Exness, traders can engage with a wide range of financial instruments, including stocks, indices, cryptocurrencies, forex, precious metals and commodities.
Exness’ licences contribute to its reliability and reputation. Apart from its Kenyan and South African licences, the group holds licences from several other financial regulatory authorities. Examples include the Financial Conduct Authority (FCA) of the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA).