Global brokerage and Finvasia Group financial firm Fxview attains regulatory approval from the Financial Sector Conduct Authority (FSCA) to provide financial services in South Africa.
Fxview, one of Finvasia Group’s innovative online brokerages, has received full licensing and regulation from South Africa’s financial authority. This FSCA licence (Reg. No. 2018/303451/07- Licence No. 50410) is one of the company’s much anticipated approvals as it seeks to expand its horizons in South Africa and beyond.
This new regulatory authorisation covers brokerage and portfolio management services, allowing the company to make its Forex and CFD trading services available to more clients.
Janis Anastassiou, MD Financial Intermediation at Finvasia Group, said: “Entering South Africa and the continent has been on our horizon for some time. As we aim to strengthen our position in the region, the FSCA licence offers Fxview opportunities not only in expanding our presence but the opportunity to reach a broader client base and offer them access to an award-winning broker.”
Notably, South Africa ranks in the top 10 African tech-driven economies with a population showing an active interest in stock trading and investing. The country’s total transaction value is expected to post an annual growth rate (CAGR 2023 – 2027) of 19%, data compiled by Statista shows. This throws the projected total amount in the bracket of $17.39 billion by 2027.
Also, the interest in digital asset investing has also spiked in recent years, with virtual asset investments estimated to reach $8.67 billion in the course of 2023, the same data shows.
In line with these statistics, Fxview’s decision to bolster its position in the African country is grounded in the local reality. The broker’s extensive offering of 500+ CFDs on stocks, cryptocurrencies, indices, commodities, and more popular asset classes, alongside 70 major, minor and exotic Forex pairs meets and even exceeds the expectations of South African traders looking to grow their portfolios cost-effectively.
Moreover, Fxview’s diverse array of trading tools and platforms, including both MT4 and MT5 alongside the innovative ActTrader, which lets traders tailor their experience as they trade by adding or removing different elements of the interface as they see fit, provides a secure and robust environment for all types of traders.
Sharing his thoughts on the new licence, Finvasia’s CEO and Co-founder Tajinder Virk said: “I am pleased to see the progress Fxview has made so far, as part of our group. The FSCA licence marks an important step forward as we foray into new markets not only in the African region but also globally. This is only the beginning of an exciting journey ahead.”
The FSCA licence completes the line of prominent financial approvals and regulatory coverage that Fxview enjoys across key jurisdictions within and outside the boundaries of the EU. Fxview is fully licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) and is registered with top-tier European bodies, such as Autorité de Contrôle Prudentiel et de Résolution (ACPR) in France, the Financial Conduct Authority (FCA) in the UK, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFIN) in Germany, and more.
In addition, the company is also a licensed Investment Dealer and [for the] Distribution of Financial Products under the Financial Services Commission (FSC) in Mauritius.
For more information about Fxview licensing and regulation, please visit https://fxview.com/global/group-licenses-and-registrations