CMA Kenya granted FP Markets a license

FP Markets, a famous online Forex and CFDs broker, announced that the Capital Markets Authority (CMA) of Kenya has given a non-dealing Foreign Exchange Broker License to its locally formed subsidiary, FP Markets Limited.

The addition of the CMA license expands the group's regulatory presence, which now includes regulated companies authorized by the Australian Securities and Investments Commission (ASIC), the Financial Sector Conduct Authority (FSCA) of South Africa, the Financial Services Commission (FSC) of Mauritius, the Cyprus Securities and Exchange Commission (CySEC), and the Securities Commission of the Bahamas (SCB).

Craig Allison, FP Markets CEO said 'We are thrilled to have been granted the licence by the CMA. Kenya has emerged as an important new strategic location for us and is a country that boasts a young and dynamic trading and investing community. It stands out as a well-regulated financial services centre and a hub for large parts of Africa and the economy here is advanced, characterized by a strong entrepreneurial spirit and consistent growth. We're looking forward to operating in Kenya and working together with the local regulatory bodies and government to ensure the industry continues to develop sustainably.

About FP Markets

FP Markets is an Australian-based online brokerage firm that offers various trading instruments including forex, shares, indices, metals, and cryptocurrencies. The company was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). FP Markets provides clients with access to multiple trading platforms including MetaTrader 4, MetaTrader 5, and IRESS. The broker also offers several account types to cater to the needs of different traders, including Standard and Raw, with the minimum deposit to open a standard account starting from $100 AUD or an equivalent amount. The standard account is designed for novice traders, while the Raw account is intended for more experienced traders who require tighter spreads and faster execution speeds.

About CMA Kenya

The Capital Markets Authority (CMA) is an independent public agency established by an Act of Parliament, Cap 485 A under the National Treasury and Economic Planning. CMA is charged with the prime responsibility of supervising, licensing and monitoring the activities of market intermediaries, including the Stock Exchange and the Central Depository and Settlement Corporation(CDSC). It also regulates all licensees under the Capital Markets Act, including Online Forex, Commodities and Regulated Exchanges.

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