FxPro Receives South African Regulation from the Financial Services Board

FxPro has announced that they have received financial regulation in South Africa under the country’s Financial Services Board (FSB). Authorized as a Financial Service Provider under the name 'FxPro Financial Services Limited', the new regulation is an addition to their existing financial license in Cyprus from CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term.

While many CySEC regulated brokers refrain from acquiring licenses in other countries and rely on their EU regulated status, the FSB has become an exception. By receiving a license, it gives brokers an easier time courting local Affiliates Affiliates Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Read this Term and introducing brokers who in the past have been warned by the regulator to only refer clients to FSB authorized firms. Also, due to monetary constraints related to the transfer of the South African rand, some brokers will open local offices for handling customer deposits and providing for localized payment options.

According to FxPro, the broker believes that with the FSB license, they will be able to expand their operations to reach new customers. Regarding the news, FxPro CEO, Charalambos Psimolophitis, stated: “We are delighted at the prospect of extending our services to new customers. The FSB authorisation gives us a key advantage and opens up an array of opportunities, as we believe that there is significant market potential for FxPro. We welcome it as another step towards growth”.