OnEquity's FSCA License: South African Market Presence

OnEquity’s FSCA License: South African Market Presence

Time Stamp: February 19, 2024 8:08 AM
OnEquity's FSCA License: South African Market Presence PlatoBlockchain Data Intelligence. Vertical Search. Ai.

OnEquity, a CFD and FX broker, has achieved full licensing
from the Financial Sector Conduct Authority (FSCA) of South Africa, marking a milestone
in its operational journey. The company, which has been active in the market
since 2022, now holds the FSCA license alongside its Seychelles Securities
Broker License.

The newly acquired FSCA license, enables OnEquity to offer
its financial services in South Africa, enhancing its regulatory compliance and
affirming its focus to transparency and reliability in trading operations.

Enver Snyders, OnEquity’s Country Manager, South Africa, Source: LinkedIn

Enver Snyders, OnEquity’s Country Manager for South Africa,
expressed the significance of this achievement, highlighting the opportunities
it unlocks for the company to navigate the forex trading market in South Africa
seamlessly. He emphasized the importance of being a reputable and regulated
forex broker to establish a meaningful presence in the region.

Strategic Expansion amid Growing
Financial Demand

The expansion into the South African market is aligned with
technological advancements and the growing demand for financial services in the
region. With digital asset market revenues projected to experience substantial
growth in the coming years, OnEquity aims to leverage this opportunity to
solidify its position.

Looking ahead, OnEquity aims to expand its reach within the
South African forex market and pivot towards Sub-Saharan Africa. Snyders Commented:
“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.”

OnEquity offers a range of CFD instruments on currencies,
indices, cryptocurrencies, commodities, and stocks, as well as nearly 60
currency pairs.

South Africa Leads Africa’s Forex Market

Finance Magnates
reported that according to data from the International Monetary Fund, Nigeria,
South Africa, and Egypt collectively accounted for half of Africa’s nominal
Gross Domestic Product in 2021, with Nigeria leading.

Meanwhile, South Africa maintained its status as the
continent’s largest player in the online retail forex industry, hosting around
190,000 daily FX traders and generating approximately $2.21 billion per day in
forex trading volumes. Despite Nigeria having more traders, South Africa’s
dominance is attributed to its robust regulatory framework, overseen by the
FSCA, fostering a conducive environment
for forex trading.

OnEquity, a CFD and FX broker, has achieved full licensing
from the Financial Sector Conduct Authority (FSCA) of South Africa, marking a milestone
in its operational journey. The company, which has been active in the market
since 2022, now holds the FSCA license alongside its Seychelles Securities
Broker License.

The newly acquired FSCA license, enables OnEquity to offer
its financial services in South Africa, enhancing its regulatory compliance and
affirming its focus to transparency and reliability in trading operations.

Enver Snyders, OnEquity’s Country Manager, South Africa, Source: LinkedIn

Enver Snyders, OnEquity’s Country Manager for South Africa,
expressed the significance of this achievement, highlighting the opportunities
it unlocks for the company to navigate the forex trading market in South Africa
seamlessly. He emphasized the importance of being a reputable and regulated
forex broker to establish a meaningful presence in the region.

Strategic Expansion amid Growing
Financial Demand

The expansion into the South African market is aligned with
technological advancements and the growing demand for financial services in the
region. With digital asset market revenues projected to experience substantial
growth in the coming years, OnEquity aims to leverage this opportunity to
solidify its position.

Looking ahead, OnEquity aims to expand its reach within the
South African forex market and pivot towards Sub-Saharan Africa. Snyders Commented:
“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.”

OnEquity offers a range of CFD instruments on currencies,
indices, cryptocurrencies, commodities, and stocks, as well as nearly 60
currency pairs.

South Africa Leads Africa’s Forex Market

Finance Magnates
reported that according to data from the International Monetary Fund, Nigeria,
South Africa, and Egypt collectively accounted for half of Africa’s nominal
Gross Domestic Product in 2021, with Nigeria leading.

Meanwhile, South Africa maintained its status as the
continent’s largest player in the online retail forex industry, hosting around
190,000 daily FX traders and generating approximately $2.21 billion per day in
forex trading volumes. Despite Nigeria having more traders, South Africa’s
dominance is attributed to its robust regulatory framework, overseen by the
FSCA, fostering a conducive environment
for forex trading.

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