A UK Brokerage ThinkMarkets acquires license from the FSCA
2010 saw the launch of ThinkForex in New Zealand with an aim to improve the forex trading experience by delivering leading technology to the community. Further, due to the company’s rapid expansion program and to meet growing demand the broker took a brand name ThinkMarkets to improve client security under ASIC and FCA, the company relocated global headquarters to London and Melbourne. You can read our full ThinkMarkets review.
South Africans will be able to begin trading on the ThinkMarkets platform from 1 April 2019 with the confidence of a locally regulated firm. The local business will cater to the needs of South African traders and offer ThinkMarkets’ wide product range. An office will also be set up in Johannesburg.
ThinkMarkets plans to offer a range of South African products including Rand based currency pairs such as USD ZAR, GBP ZAR and EUR ZAR as well as CFD indices and equity derivatives that are actively traded by investors on the Johannesburg Stock Exchange.
“We are delighted with our newly approved licence which is a testament to our commitment to offering contracts for difference (CFDs) and forex to global traders with the confidence of a regulated and safe trading environment,” Faizan Anees, managing director and co-founder of ThinkMarkets said.
ThinkMarkets is not the only brokerage, or the first one, who decided to expand its business in South Africa. Some of the largest brokerages have already expanded their footprints there and are already providing their service to SA residents. Many of the international brokers in South Africa are now in the process of obtaining the license from the FSCA.