Explore Companies BySectors & Categories
Explore Companies ByUse Cases
Explore Companies ByProducts & Services
Explore Companies ByRankings & Reviews
Featured NewsCompaniesMarketsCryptoTechRegulatoryCommentaryUKUSWorldMore

    Latest Wires

      Daily Newsletter

      LF Daily News

      Daily industry focused newsletter giving you an overview for the financial & finTech industry.

      See All Newsletters
      By clicking "Sign Up" you are agreeing to our Terms of Service and Privacy Policy

      EGM Securities launches Africa’s first online forex trading platform in Kenya using M-Pesa or a mobile payment channel

      Published: just now

      EGM Securities launches Africa’s first online forex trading platform in Kenya using M-Pesa or a mobile payment channel

      18 July, 2018 - EGM Securities, Kenya’s first and only regulated non-dealing online forex broker, has launched the region’s first online forex trading offering in Kenya that enables trading using multiple payment channels including mobile payment channels such as M-Pesa.

      EGM Securities’ trading offering will provide the market with exposure to global macro opportunities such as foreign exchange, oil, gold and other precious metals and commodities.

      According to the company's press release, for the first time, Kenyans will have the opportunity to participate in global forex markets in a strictly locally regulated environment and at lower transaction costs.

      Kevin Ng’ang’a, CEO of EGM Securities, said: “Increased access to global forex markets and innovative financial offerings for Kenya’s investment community is a major leap forward for the country to advancing its financial markets depth and economic growth. We are very excited at the prospect that lies ahead for the financial markets in Kenya.

      “We realised there was an opportunity as many Kenyans were trading with foreign entities, which are not regulated by Kenya’s Capital Markets Authority, and do not provide investor protection as these are offshore entities. Being licensed by the Capital Markets Authority of Kenya, investors are afforded the provision of legitimate online Forex services.”

      The forex market with daily volumes estimated at USD 5.3 trillion is the largest financial market in the world.

      Mr Aly-Khan Satchu, Kenya’s foremost financial professional and one of the most influential investors at the Nairobi Stock Exchange commented:

      “Kenya is honoured that EGM Securities chose Kenya as the first country on the African continent to launch this innovative offering. It is a vote of confidence for Kenya’s financial and capital markets and regulatory environment.”

      EGM Securities’ offering will provide an opportunity for the country to grow its forex reserves as traders who had invested offshore have the opportunity to bring back funds and trade in a locally regulated environment.

      Private investors will benefit from broader, more liquid diversified investment portfolio offerings that include forex and Contracts for Differences (CFDs), in addition to the more traditional asset classes of cash, equities and property. Corporate and Institutional investors will benefit from a Partnership Programme.

      Ng’ang’a said: “Kenya was the obvious point of entry into the region to introduce online forex trading using mobile payment channels given that the country is the most advanced economy in Central and East Africa, and it is globally renowned as the leading financial innovation hub in Africa, supported by its strong entrepreneurial culture, and importantly, Kenya has the most proactive and innovative regulator in the region.

      Earlier in 2018, EGM Securities became the first and only non-dealing online forex broker in Kenya to receive a license by the government capital markets regulator, the Capital Markets Authority of Kenya, after a very stringent and lengthy application process. The company has since established a fully-resourced staff complement of qualified and experienced professionals across various disciplines including compliance, finance, operations, IT in Nairobi, Kenya

      We're the largest marketplace to connect with brokers, Fintech companies & digital asset firms. Want to partner? Let's get in touch.

      This content may have been written by a third party. LiquidityFinder makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplies by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.
      Comments
      Most Recent
      Written By
      profile image formember on LiquidityFinder
      Founder & CEO, LiquidityFinder

      Founder of LiquidityFinder. 25+ years in Financial Markets technology. Now building the world's financial markets social network / marketplace.

      Daily Newsletter

      LF Daily News

      Daily industry focused newsletter giving you an overview for the financial & finTech industry.

      See All Newsletters
      By clicking "Sign Up" you are agreeing to our Terms of Service and Privacy Policy
      RSS Feeds

      Create a custom RSS Feed

      Select the categories and companies you wish to follow directly to your person rss feed.

      Create Custom RSS Feed

      Related Categories:

      Related Tags:

      #EGMSecurities#KenyaForex#MPesa#OnlineForexTrading#CapitalMarketsAuthority#MobilePayment#CFDs

      Related Articles:

      Find The Right Partners for
      Your Trading Business

      Sign up and join over 5,000 professional members who receive personalized news alerts, curated professional connections, and more for free!

      Create Your FREE Account
      Get access to latest news, updates, real-time data, brokerage and trading firm insights and customized information feeds.

      Retail futures trading leader NinjaTrader Group has appointed Mark Omens as Senior Vice President, Commercial Strategy, bringing a 25-year veteran of derivatives marketplace CME Group into a newly created role focused on exchange partnerships and enterprise growth.

      just now

      Gold Price Action Forecast: Will XAU/USD Drop to $3930? Meta Description: Read our Gold price action forecast to see if XAU/USD will drop to $3930.

      just now

      BitDelta Securities Financial Services LLC (“BitDelta Securities”) today announced that it has received full regulatory approval from the Capital Market Authority (“CMA”) of the United Arab Emirates under the Category 5 — Arrangement and Advice license framework (License No. 20200000439). The approval follows the firm's receipt of In-Principal Approval earlier this year and represents the successful conclusion of the CMA's full licensing process, including the satisfaction of capital requirements, governance appointments, and operational setup.

      just now

      Crypto.com has received a $400 million strategic investment from Citadel Securities, valuing the firm at $20 billion. It marks the first institutional funding round in the company's history, aimed at accelerating its expansion into tokenised securities, derivatives and other asset classes.

      just now

      WTI’s pullback into $79–82 is the first major test of the bullish Elliott Wave count, with buyers targeting a renewed break above $85.

      just now

      BitDelta Securities has secured a full CMA Category 5 licence in the UAE and opened a regulated office in Business Bay, Dubai. The firm operates as an introducing broker, connecting investors with licensed international brokers across multiple asset classes, with CEO Dr. Demetrios Zamboglou commenting on the milestone.

      just now

      Index volatility is asleep while single stocks fight it out underneath, credit refuses to confirm the equity rally, and a bare macro calendar hands next week to oil.

      just now

      Digital assets and FX brokerage GC Exchange FZE (GCEX) has appointed Mohammed A. Mulla as a Board Member of its Dubai-based entity, part of the wider GCEX Group.

      just now

      Learn what Blockchain-as-a-Service is, how it works, and why businesses are using BaaS to build blockchain applications without managing infrastructure.

      just now

      CFDs vs stocks compared on leverage, ownership, costs, dividends, taxes, and risk. Learn the differences between stocks and CFDs and discover which suits your investing or trading goals.

      just now
      Feed