27 January 2021
Leading financial broker Exness acquires FSCA licence in South Africa
Global multi-asset broker Exness has just received its licence from the Financial Sector Conduct Authority (FSCA) in South Africa and is now authorized as a Financial Service Provider locally.
The FSCA is responsible for market conduct regulation and supervision in South Africa and aims to enhance and support the efficiency and integrity of financial markets, protecting investors and traders by promoting their fair treatment by financial institutions.
With a strong presence in the market since 2008, Exness is one of the world’s leading brokers and is known for delivering a reliable, trustworthy and customer-focused trading experience in a transparent and secure environment.
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Its suite of products includes FX currency pairs, precious metals, cryptocurrencies, commodities, indices and stocks.
Further to this, Exness has made a name for itself by being the first broker to publish the group’s financial reports and key performance indicators on its website and provides transparent price history by showing tick-level data across all instruments.
“This is a very important milestone for Exness as Africa is instrumental in our strategic expansion plans. We have been fortunate enough to already partner with some of the most professional traders and partners in the region and look forward to what’s in store both for us and for those we intend to do business with”, said Paul Margarites, Exness Director for Sub-Saharan Africa.
Exness hit a record annual trading volume of $6,110 billion in 2020, the highest trading volume in its 13-year history, with $593 million in client withdrawals and $100 million in partner withdrawals.
With over 140,000 clients in 150+ countries, it is safe to say that a true market leader has arrived in South Africa.
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