OnEquity Granted Brokerage License by FSCA

Seychelles-based FX broker OnEquity announced that it has been granted a full license by the South African Financial Sector Conduct Authority (FSCA), acquiring permission to provide financial services locally through its South African division OnEquity (Pty) Ltd.

In a LinkedIn post, the broker stated: “We’re pleased to announce that OnEquity has achieved full licensing from the FSCA in South Africa, a significant milestone reflecting our dedication to transparent trading environments. This marks our expansion into Africa’s burgeoning market, offering comprehensive trading experiences and aiming to establish a robust local presence.”

Additionally, OnEquity has appointed former IronFX senior account manager Enver Snyders as the country manager to lead its business in South Africa.

Snyders said: “Taking over Sub-Saharan Africa is a complex and challenging task for a forex broker. We have conducted thorough market research from our side to understand the local forex landscape, regulatory environment, economic conditions, and potential opportunities in Sub-Saharan Africa.”