The company secures FSC Mauritius license, elevating global financial services.
A few days ago, it added similar authorization granted by the Australian ASIC.
Banxso, an FX/CFD
brokerage company headquartered in South Africa, has recently acquired an Investment
Dealer license from Mauritius's Financial Services Commission (FSC). The
license was obtained through Éclat Technologies Ltd, a local subsidiary of
Banxso.
Banxso Acquires FSC
Mauritius License, Expanding Global Reach
The FSC is
the regulatory body overseeing Mauritius's non-bank financial services sector. The acquisition of this license allows Banxso to offer a
wider range of financial products and services to its international clientele,
in compliance with the Mauritius' regulatory guidelines.
"The
acquisition of the FSC Mauritius license is a testament to our unwavering
commitment to excellence and regulatory compliance," said a senior
spokesperson for Banxso. "It empowers us to broaden our horizons and
reinforce our pledge to provide secure, transparent, and comprehensive
financial services to our clients worldwide."
The
SEC-2.1B license ensures that Banxso's clients can engage in various investment
activities, knowing they are dealing with a licensed and
compliant financial services provider. The company aims to leverage this
license to provide its clients with secure and transparent financial solutions.
Although Banxso's headquarters are in South Africa where it relocated in 2022, it holds licenses from several other regulators, including in Vanuatu, the Union of Comoros, and Cyprus where it operates as XF Service.
Earlier
this week, the company announced that it had obtained a license from the
Australian ASIC, the most prestigious authorization Banxso has
held to date.
"Banxso
Limited is eager to introduce Australian traders to our innovative platform,
where they can expect a trading experience that is not only secure and
transparent but also enriched with educational support and technological
advancement,” Manuel de Andrade, the Chief Operating Officer of Banxso, commented.
According
to information provided by the company in 2022, it intended to acquire licenses in the UAE and the UK, but it currently does not hold these. It is
unclear whether it is still pursuing them or has decided to suspend these
efforts.
Mauritius Offers Cheap Licenses
Obtaining a
brokerage license in Australia or even in Cyprus is relatively expensive. The FSC
remains very competitive in this regard where existing licenses can be
purchased for $250,000. Moreover, the capital requirements are much lower.
In Europe, they amount to €135,000 for non-market maker brokers, whereas in
Mauritius, they are several times cheaper.
“In
Mauritius, the capital requirement for market maker brokers is approximately
$21,800. In Vanuatu, it is approximately $42,000 and for a Seychelles FSA
international securities dealer the minimum level of liquid capital is around
$37,000,” Emily Faye Helmer, the Head of partnerships at Clearsky Network,
commented.
Regarding
offshore licenses, Mauritius, Seychelles, and the Bahamas are among the most
preferred destinations, while South Africa is becoming increasingly
popular for companies aiming to serve the African market.
Banxso, an FX/CFD
brokerage company headquartered in South Africa, has recently acquired an Investment
Dealer license from Mauritius's Financial Services Commission (FSC). The
license was obtained through Éclat Technologies Ltd, a local subsidiary of
Banxso.
Banxso Acquires FSC
Mauritius License, Expanding Global Reach
The FSC is
the regulatory body overseeing Mauritius's non-bank financial services sector. The acquisition of this license allows Banxso to offer a
wider range of financial products and services to its international clientele,
in compliance with the Mauritius' regulatory guidelines.
"The
acquisition of the FSC Mauritius license is a testament to our unwavering
commitment to excellence and regulatory compliance," said a senior
spokesperson for Banxso. "It empowers us to broaden our horizons and
reinforce our pledge to provide secure, transparent, and comprehensive
financial services to our clients worldwide."
The
SEC-2.1B license ensures that Banxso's clients can engage in various investment
activities, knowing they are dealing with a licensed and
compliant financial services provider. The company aims to leverage this
license to provide its clients with secure and transparent financial solutions.
Although Banxso's headquarters are in South Africa where it relocated in 2022, it holds licenses from several other regulators, including in Vanuatu, the Union of Comoros, and Cyprus where it operates as XF Service.
Earlier
this week, the company announced that it had obtained a license from the
Australian ASIC, the most prestigious authorization Banxso has
held to date.
"Banxso
Limited is eager to introduce Australian traders to our innovative platform,
where they can expect a trading experience that is not only secure and
transparent but also enriched with educational support and technological
advancement,” Manuel de Andrade, the Chief Operating Officer of Banxso, commented.
According
to information provided by the company in 2022, it intended to acquire licenses in the UAE and the UK, but it currently does not hold these. It is
unclear whether it is still pursuing them or has decided to suspend these
efforts.
Mauritius Offers Cheap Licenses
Obtaining a
brokerage license in Australia or even in Cyprus is relatively expensive. The FSC
remains very competitive in this regard where existing licenses can be
purchased for $250,000. Moreover, the capital requirements are much lower.
In Europe, they amount to €135,000 for non-market maker brokers, whereas in
Mauritius, they are several times cheaper.
“In
Mauritius, the capital requirement for market maker brokers is approximately
$21,800. In Vanuatu, it is approximately $42,000 and for a Seychelles FSA
international securities dealer the minimum level of liquid capital is around
$37,000,” Emily Faye Helmer, the Head of partnerships at Clearsky Network,
commented.
Regarding
offshore licenses, Mauritius, Seychelles, and the Bahamas are among the most
preferred destinations, while South Africa is becoming increasingly
popular for companies aiming to serve the African market.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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