As part of its global expansion efforts, forex broker easyMarkets has acquired a new regulatory license under the Seychelles Financial Services Authority.
easyMarkets, which rebranded in January 2016 from EasyForex, has been operating under different entities regulated by different financial supervisory authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC).
The company said the move reflects its commitment to continue on the trajectory of expansion and growth, and that the decision to acquire an FSA license comes in an effort to ensure even broader regulatory supervision in new markets.
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Commenting on the news, Koula Lamprou, Chief Financial Officer easyMarkets, said “At easyMarkets our ultimate goal is to offer our clients an exceptional trading experience, and we understand that regulation, security, and oversight are of vital importance to that. Our new Seychelles FSA license adds to our already robust list of licenses that include European oversight by ESMA and CySEC, Australian ASIC license for our APAC based activities. We have been actively engaged in the trading industry for nearly 20 years and our purpose is to further expand our regulatory framework and the ability to better serve our clients.”
However, in 2018 easyMarkets exited the Polish market and withdrew registration of its Polish branch Easy Forex Trading Sp. Zoo., which had been located at Warsaw Financial Center. The decision came after the Polish Ministry of Finance submitted a draft of a new law that introduces sweeping changes to its FX regulations, including the imposition of maximum leverage on forex trading accounts to 1:50.
easyMarkets made the headlines earlier this month when it struck a sponsorship agreement with Real Madrid in a deal that will last three years. This milestone will allow the FX broker to get featured as the La Liga champion’s official online trading partner starting from the 2020-2021 season.