London-based broker ETX Capital has received its licence from the Financial Sector Conduct Authority (FSCA) in South Africa, which means it is now officially authorised as a local Financial Service Provider.
The FSCA is responsible for market conduct regulation and supervision and aims to enhance the efficiency and integrity of financial markets, protecting traders by promoting fair treatment from financial institutions.
Anchored by a strong UK presence, ETX Capital recently revealed plans to expand into Europe and beyond. Chief Marketing Officer, Nandik Barbhaiya, commented, “Achieving this important milestone is paramount to our expansion plans and is yet another feather in the ETX cap. 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.”
ETX clients in South Africa enjoy instant execution, tight spreads and low commissions on CFDs on thousands of global markets – across all major asset classes from forex, indices, shares and commodities.
ETX Capital, regulated by the FCA and acquired by Swiss firm Guru Capital in 2020, is one of the UK’s leading brokers. They offer over 5,000 CFDs as well as financial spread betting across their award-winning desktop and mobile platforms. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.5% of retail investor accounts lose money when spread betting or trading CFDs with ETX. You should consider whether you understand how spread bets or CFDs work and whether you can afford to take the high risk of losing your money.
Monecor (London) Ltd is a member firm of the London Stock Exchange. Authorised and regulated by the Financial Conduct Authority with Financial Services register number 124721.