One Financial Markets has received a new license, granting it the mandate to operate as a foreign financial service provider (FSP) in South Africa, part of its latest ambitions to permeate a growing market in the region, according to a One Financial Markets’ statement.
The group is already regulated to provide services in the UK, specializing in a wide range of foreign exchange (FX) and Contracts-For-Difference (CFD) products. To correspond with its new launch, One Financial Markets has also offered a recent incentive on its FX pairs until the end of July.
One Financial Markets has shown a penchant for investing in technology and other channels to help streamline online trading capabilities for its clients. Last month, One Financial Markets partnered with Tradimo, as part of its online trading school launch in both the Chinese and Arabic languages. In addition, the group will be the only broker eligible to advertise on the aforementioned language sites until October 2016.
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According to Stuart Cooke, Head of Partners at One Financial Markets, in a recent statement on the license, “We are delighted to be expanding our reach to South Africa and are confident that we have a compelling offering with tight spreads, competitive margins and a 0% margin requirement on hedged positions.”
Additionally, “We believe there is huge market potential for us in South Africa and we are looking forward to growing our client base in the region. In addition to a range of offers to attract new customers, One Financial Markets will also be developing a tailored educational program for South African clients,” Mr. Cooke added.
One Financial Markets caters to both retail and institutional clients in FX and CFDs on indices, commodities, bonds and physical metals. The London-based broker is regulated by the UK’s Financial Conduct Authority (FCA) with global offices and affiliates in the Middle East, Europe and Central and Southeast Asia.