Mitrade Acquires South African Regulated Firm, Secures FSCA License
Forex and CFD broker Mitrade announces the acquisition of Fridah Asset Managers Pty Ltd, a company regulated by the Financial Sector Conduct Authority (FSCA) of South Africa.
Headquartered in Australia, Mitrade is regulated by the Australian Securities and Investments Commission (ASIC), the Cayman Islands Monetary Authority (CIMA), the Mauritius Financial Services Commission (FSC), and the Cyprus Securities and Exchange Commission (CySEC). Through this acquisition, Mitrade has obtained a new South African license.
The acquired South African entity will be rebranded to Mitrade Markets Pty Ltd. Mitrade stated this acquisition aims to expand into emerging markets and is expected to play a pivotal role in its long-term development across the Middle East and North Africa (MENA) region and Latin America (LATAM).
BrokersView reminds you
The Financial Sector Conduct Authority (FSCA) of South Africa has replaced the Financial Services Board (FSC) as the regulator of local FX and CFD brokers since 2018.
You can search for more FSCA-regulated forex service providers through BrokersView.
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