Australia’s largest forex broker has made entry into the Kenyan Forex market after receiving greenlight from Capital Markets Authority.
Pepperstone Markets Kenya Limited, a subsidiary of Pepperstone Group has been granted a non-dealing Foreign Broker License enabling it to join other players including Scope Markets and EGM Securities.
Pepperstone is a global leader in the foreign exchange market offering over 120 financial instruments on its MT4, MT5, and cTrader platforms.
The multinational forex broker has over 89,000 clients in its portfolio.
According to its CEO, Mr. Sahil Patel, the firm is excited to bring world-class platforms in the Kenyan market which will offer better pricing and vibrant retail and institutional forex market in Kenya.
“Having traded for international banks over the past decade, I am pleased to offer the same level of product sophistication, pricing, analysis and execution to retail investors as that received by a bank trading desk,” said Sahil Patel.
The entry into the Kenyan market also aligns with the firm’s investment strategy to provide Fintech solutions globally.
Having won accolades globally, Pepperstone looks forward to making its name in the Kenyan market by attracting the middle-income earners who are much attracted to the FOREX market.
“We very much look forward to doing business in Nairobi and working together with the local regulator and government to develop the industry in a sustainable manner,” said Szabo Tamas Pepperstone Group CEO.
The forex broker is now regulated by the Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), BaFin, CySec, the UK Financial Conduct Authority (FCA), and the Capital Markets Authority of Kenya (CMA).