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November 14, 2023 - Multi-natioonal, multi-asset online broker ATFXhas announced the acquisition of Khwezi Financial Services, a licensed Over-the-Counter Derivative Provider (ODP) in South Africa, regulated by the South African Financial Sector Conduct Authority (FSCA). This strategic acquisition expands ATFX's global presence. In July this year, ATFX acquired Rakuten Securities in Australia in July, launched in Iraq with Ashur Bank, strengthened its license in the UAE by obtaining a category 5 license from the UAE's SCA, and expanded into Jordan with a partnership with ASWAQ Invest, all in June this year. .
The ODP license granted by the FSCA, under the Financial Markets Act no.19 of 2012, permits financial service providers to legally offer over-the-counter derivatives, including contracts for difference (CFDs). As a result, ATFX is now positioned to offer South African clients access to a wide range of financial instruments and deliver comprehensive trading services as an ODP.
ATFX Chairman Joe Li emphasised the company's commitment to delivering a world-class trading experience for clients in the region, stating, "With the recent acquisition of Khwezi Financial Services, ATFX boldly charts its path to significant growth in the South African market. In addition to competitive spreads, cutting-edge technology platforms, and round-the-clock customer support, ATFX aims to cater to the needs of retail clients with a client-centric approach and provide a new source of liquidity in the African institutional business. By leveraging our resources and expertise, we aspire to establish as a leader in the industry, offering trading opportunities and services ahead, and service a wider range of customers in the African market."
In addition to the ODP license in South Africa, ATFX has acquired three more licenses this year, adding to its license library that includes FCA (UK), CySEC (Cyprus), FSC (Mauritius), and Seychelles. These licenses underline the company's commitment to providing secure and regulated trading services across multiple jurisdictions.
The company states that the latest development in South Africa underscores ATFX's dedication to expanding its global footprint while ensuring compliance with regional regulations.
ATFX is a globally acclaimed online trading services provider, offering a wide range of trading instruments, including currency pairs, CFDs, indices, commodities, and more. With a presence in 18 locations across Europe, Southeast Asia, the Middle East, Latin America, the Pacific Regions, and now South Africa, ATFX is committed to delivering outstanding trading experiences to clients worldwide. The company places a strong emphasis on customer satisfaction, innovative technology, and strict regulatory compliance, positioning itself as a top choice for traders seeking reliable and sophisticated trading solutions.
