CMA License Has Been Acquired By Ingot Brokers To Expand its Presence In Kenya

INGOT | 2022-11-28 17:07

Abstract：INGOT expands its reach on the African continent shortly after obtaining the FSCA license in South Africa.

CMA License Has Been Acquired By Ingot Brokers To Expand its Presence In Kenya.png

On Tuesday, November 1, 2022, the Capital Markets Authority (CMA) of the Republic of Kenya granted a license to INGOT Africa Ltd. (INGOT Brokers).

Under the Capital Markets Act (Cap 485 A of the laws of Kenya) and the Capital Markets (Online Foreign Exchange Trading) Regulations, 2017, the license would enable INGOT Brokers to operate as a Non-Dealing Online Foreign Exchange Broker.

The CMA license solidifies INGOT Brokers' efforts to strengthen its presence in Africa and provide premium trading services to all investors, building on the milestone achieved in September when INGOT RSA (PTY) LTD received the official Financial Sector Conduct Authority (FSCA) license in South Africa.

INGOT Africa Ltd is committed to empowering youth in Kenya and neighboring nations in both urban and rural regions by delivering free financial literacy education via INGOT Academy, which is meant to educate and train young people on investing and trading financial markets.

The academy also focuses on identifying, educating, and training Introducing Brokers (IBs) and affiliates to help them grow their online trading services and maximize their potential returns by providing them with access to INGOT Brokers' resources such as educational materials, webinars, seminars, and personal training sessions.

INGOT Africa Limited

INGOT Africa Ltd is a premium multi-asset brokerage business that aims to make financial markets open to all traders.

As it offers traders an award-winning platform, good training conditions, tremendous liquidity, and access to financial markets, the firm has established and maintained a world-class trading environment with the greatest quality of online financial services.

It regularly provides a one-of-a-kind trading experience. These include commodities, equities, indices, ETFs, and currencies, among other financial derivatives and CFD instruments.

Furthermore, the INGOT Brokers staff goes above and above to assist customers regardless of their degree of expertise.

What is the CMA, and why do forex brokers need one？

The Capital Markets Authority (CMA) was established in 1989 as a legislative entity under Cap 485A of the Capital Markets Act. Its primary purpose is to regulate and build orderly, fair, and efficient capital markets in Kenya in order to promote market integrity and investor trust.

According to the Act and the rules, the Authority's regulatory tasks include: licensing and regulating all capital market intermediaries; ensuring compliance with the legal and regulatory framework by all market players; Regulating public offerings of securities like shares and bonds, as well as the issuing of other capital market goods like collective investment schemes; Promoting market growth via research on new products and services; In order to adapt to market developments, the legislative framework is being reviewed. Promoting investor education and public awareness, as well as protecting the interests of investors

More information about Ingot Brokers may be found at https://www.wikifx.com/en/dealer/2801529700.html.

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