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Australian CFD broker ACY Securities has acquired Ingot Brokers South Africa, securing a Financial Sector Conduct Authority (FSCA) licence to operate in the country. The deal marks ACY's first acquisition in Africa following years of searching for opportunities across Africa, South East Asia and Europe.
The purchase allows ACY to offer its proprietary LogixTrader platform to South African clients, providing access to more than 2,200 financial instruments under FSCA regulation. ACY Securities launched its proprietary trading platform LogixTrader in August this year, seen as a significant step towards the comapny's plans for an IPO of its holding company ACYLogix.
Key features of LogixTrader include:
▪️ A built-in economic calendar with real-time updates
▪️ Guaranteed stop loss and take profit orders without slippage at no extra cost
▪️ Dynamic margin offering tiered leverage based on trading volume
▪️ Intuitive trading units that simplify traditional lot sizes
Jimmy Ye, CEO, ACY Securities
Jimmy Ye, CEO of ACY Securities commented, "Securing the deal in South Africa is a pivotal step in our global expansion journey. This acquisition allows us to bring LogixTrader, our innovative trading platform, to a broader audience, enhancing the trading experience for clients in this dynamic market. Our focus on robust regulatory compliance ensures traders can operate with confidence, knowing they are protected by one of the world's respected financial regulators."
The expansion follows several developments at ACY Securities this year, including the launch of LogixTrader, updates to its Swap-Free Account offering, and the removal of cryptocurrency deposit fees.
"By continuing to build a strong brand across global markets, we are solidifying our position as a key player in the financial industry," added Ye. "Offering cutting-edge technology like LogixTrader, a broad range of instruments, and a focus on robust regulatory compliance are central to our mission. We are excited to deliver these benefits to traders in South Africa and look forward to fostering strong relationships in this rapidly growing market."
The FSCA licence enables ACY Securities to provide financial services under section 8 of the Financial Advisory and Intermediary Services Act.
ACY Securities, established in 2011, is part of the ACYLogix group which includes ACY Partners, ACY Advisory, ACY Connect, ACY Live and Zerologix. The company joins other international brokers like IG Group, CMC Markets and Plus500 who operate in the South African CFD market under FSCA regulation.
