KENYA

More traders are gaining trust in the forex trading industry as they can now visit brokerage offices in Kenya.

Exinity is the fourth Non-Dealing Online FX Broker to be licensed by the CMA under the new regulations.

The Kenyan regulator only approves three brokerages.

The move came after multiple warnings to the unlicensed entities to cease and desist operations.

This mutually beneficial deal will help EGM to expand its client base.

EGM Securities, the first broker in Kenya, will continue to support its community.

The FX and CFD broker is the second to secure a licence in Kenya.

The central bank said brokers have been targeting Kenyans via social media and mass emails

The firm's locally regulated subsidiary, EGM Securities, will be running the brand

The platform is targeted at SMEs and large corporations.

The East African nation has been trying to establish a legal framework for brokers to operate in

The platform will allow traders to invest in foreign exchange, oil, gold, other precious metals and commodities.

Bancor is teaming up with Grassroots Economics to tap into local Kenyan economies.

The brokerage continues to build up its license portfolio at a key time for the industry

The two sides will share information relating to listing, trading, depository operations, clearing and settlement.

An applicant seeking a forex license should have a minimum capital of nearly $500,000.

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