FXTM Obtains License from Mauritius Financial Watchdog

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

FXTM Obtains License from Mauritius Financial Watchdog

March 24, 2019

FXTM

Retail foreign exchange broker FXTM has been granted a license from the  of the Republic of Mauritius amid its continued international expansion.

The FXTM brand was already regulated by the UK Financial Conduct Authority, the Cyprus CySEC, and South Africa’s FSCA. The addition of an authorization from the Mauritius financial watchdog will help the broker in its international growth strategy, while also emphasizing the brand’s commitment to operating to the highest regulatory standards.

The new milestone also serves as message to its current customers and future ones that FXTM aims not only to constantly re-evaluate its product and service offerings, but also the jurisdictions under which it operates.

The Mauritius Financial Services Commission provides protection to the public in non-banking financial products. FXTM’s international customers will now have the opportunity to receive services through Mauritius.

Financial Services Commission (FSC) of the Republic of Mauritius

FXTM obtained its UK FCA license in early 2018 in order to broaden its market appeal and to honor its commitment to being fully localized in key financial regions. The broker operates under FCA license no. 777911.

“In an environment where regulators are putting compliance and client communications in financial services under the spotlight, we are extremely proud to have met the high standards required by the FCA”, said Martin Couper, FXTM’s Director of Forextime UK Limited. 

FXTM is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, by the Financial Services Board (FSB) of South Africa, with FSP No. 46614, and by the International Financial Services Commission of Belize with License numbers IFSC/60/345/TS and IFSC/60/345/APM.
In 2018, FXTM reported client base growth of  77% year on year, with active clients growing by 64%.
In late 2018, the broker increased its product offering for the Pro Accounts by providing MetaTrader 5 users with the ability to directly own and trade stocks from the NYSE and NASDAQ exchanges.
The company has recently hired former Gain Capital’s Nicholas Scott as its new Head of Product Development.

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