Admiral Markets obtained Kenya’s License
Admirals, a global financial tech provider, has taken its services to Kenya following the granting of their license from the Capital Markets Authority. As one of the first online forex trading brokers in East Africa, Admirals is poised to make waves across this vibrant and growing market.
“Admirals hopes the achieving of this license shall assist further growth in Africa and grant access to a stringently regulated market,” Admirals said in a statement.
The new license comes six months after South Africa’s Financial Sector Conduct Authority licensed Admirals SA (Pty) Limited to provide contracts for difference (CFD) execution and share trading options in South Africa. Additionally, Admirals Groups AS opened a new office in Cape Town as part of its move to expand its client base in Africa.
Meanwhile, in a statement on Thursday, the company noted that its Cypriot and South African subsidiaries had signed an agreement to jointly take over Aglobe Investments Limited.
Details on the company’s site show that the firm is its subsidiary in Seychelles. Aglobe Investments Limited is regulated as a securities dealer by the Financial Services Authority of Seychelles.