ThinkMarkets Launches in South Africa, Offers $1m Protection
- ThinkMarkets offers capital protection on funds of $1 million for traders on its platform
ThinkMarkets, a financial broker with operations in the United Kingdom and Australia, announced this week that it has entered into South Africa to offer foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) and contracts-for-difference (CFD) trading.
Specifically, the broker will offer both South African and international products, such as single-stock CFDs, stock indices, currencies, and commodities via its Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term.
In terms of currencies, the broker offers South African rand (ZAR) based currency pairs such as USD/ZAR, GBP/ZAR and EUR/ZAR in addition, in the future it plans to offer CFD indices and equity derivatives that will be traded by investors on the Johannesburg Stock Exchange.
As part of its offering to South African traders, ThinkMarkets revealed that it would offer capital protection on funds of $1 million (over ZAR 14.4 million) for traders on its platform. This means, should ThinkMarkets.com go into insolvency, traders in South Africa will have a $1 million protection on their monies, the statement said.
Nauman Anees, CEO, ThinkMarkets
Source: LinkedIn
Commenting on the announcement, Nauman Anees, the CEO and Co-founder of Think Markets said: “Our company’s ethos is built on sound regulations and the protection of our clients’ money and hence the $1 million cover reinforces that ThinkMarkets is one of the safest places for CFD traders.”
ThinkMarkets Clients are Also Protected by Lloyds of London’s Central Fund
According to the statement, ThinkMarkets is the first trading provider in South Africa to offer this type of protection on funds invested in CFDs. The insurance is underwritten by Lloyds of London.
ThinkMarkets’ South African clients will also have a second layer of protection - Lloyds of London’s Central Fund. This means, should both ThinkMarkets and the insurance broker default, Lloyds of London will compensate clients under its Central Fund.
Faizan Anees, Co-Founder and Managing Director of ThinkMarkets
“We are very excited about our new operation in South Africa, we have been serving traders from this region for many years and have built strong and lasting relationships. And now, with the $1 million insurance and localised products on our platform, we are well positioned to become the preferred broker for traders,” added Faizan Anees, Co-founder and Managing Director.
ThinkMarkets, a financial broker with operations in the United Kingdom and Australia, announced this week that it has entered into South Africa to offer foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) and contracts-for-difference (CFD) trading.
Specifically, the broker will offer both South African and international products, such as single-stock CFDs, stock indices, currencies, and commodities via its Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term.
In terms of currencies, the broker offers South African rand (ZAR) based currency pairs such as USD/ZAR, GBP/ZAR and EUR/ZAR in addition, in the future it plans to offer CFD indices and equity derivatives that will be traded by investors on the Johannesburg Stock Exchange.
As part of its offering to South African traders, ThinkMarkets revealed that it would offer capital protection on funds of $1 million (over ZAR 14.4 million) for traders on its platform. This means, should ThinkMarkets.com go into insolvency, traders in South Africa will have a $1 million protection on their monies, the statement said.
Nauman Anees, CEO, ThinkMarkets
Source: LinkedIn
Commenting on the announcement, Nauman Anees, the CEO and Co-founder of Think Markets said: “Our company’s ethos is built on sound regulations and the protection of our clients’ money and hence the $1 million cover reinforces that ThinkMarkets is one of the safest places for CFD traders.”
ThinkMarkets Clients are Also Protected by Lloyds of London’s Central Fund
According to the statement, ThinkMarkets is the first trading provider in South Africa to offer this type of protection on funds invested in CFDs. The insurance is underwritten by Lloyds of London.
ThinkMarkets’ South African clients will also have a second layer of protection - Lloyds of London’s Central Fund. This means, should both ThinkMarkets and the insurance broker default, Lloyds of London will compensate clients under its Central Fund.
Faizan Anees, Co-Founder and Managing Director of ThinkMarkets
“We are very excited about our new operation in South Africa, we have been serving traders from this region for many years and have built strong and lasting relationships. And now, with the $1 million insurance and localised products on our platform, we are well positioned to become the preferred broker for traders,” added Faizan Anees, Co-founder and Managing Director.