HotForex, a foreign exchange broker regulated by the Financial Services Commission (FSC) of Mauritius under the name HF Markets Ltd., has extended its licensing to a new jurisdiction today, bringing the South African market under its mantle of operation, according to a recent HotForex statement.
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Many brokers have been eyeing growth and future markets that have included such regions as Southeast Asia, Latin America, and Africa. Boasting one of the world’s top ten capital markets and thousands of investors, South Africa has become a repeated destination for brokers looking to expand their presence on the continent.
HotForex presently holds licenses under the FSC, the Financial Service Authority (SVGFSA), and the Cyprus Securities and Exchange Commission (CySEC) license – per its latest ambitions, it has now added the licensing of the Financial Services board (FSB) of South Africa via HF Markets (SA) Ltd.
The license itself operates under the name HF Markets SA (PTY) Ltd with license number 46632 and will be helpful in expanding its focus in the region moving forward. As opposed to other saturated locales, South Africa stands to constitute a large amount of new business, with HotForex looking to capture new clients.