Key Insights
- Cyprus-based easyMarkets obtains FSCA license in South Africa, expanding its global regulatory footprint.
- easyMarkets reports strong Q2 performance, driven by increased trading volumes in Gold and Nasdaq.
- The broker sees significant price movements in various instruments, including a 125% rise in Cocoa and 20% increase in Gold.
NICOSIA (MarketsXplora) – easyMarkets, a Cyprus-headquartered retail FX and CFDs broker, has expanded its global footprint by obtaining a license from the Financial Sector Conduct Authority (FSCA) in South Africa, the company announced on Tuesday.
The new license adds to easyMarkets’ existing regulatory approvals, which include CySEC in Cyprus, ASIC in Australia, FSA in the Seychelles, and the FSC in the British Virgin Islands.
“Obtaining the FSCA license is a testament to easyMarkets’ strict compliance with financial, operational, and ethical standards,” said Koula Lamprou, CFO of easyMarkets. “This achievement solidifies our reputation and reinforces our reliability in the eyes of our clients and partners worldwide.”
The broker confirmed that its South African traders will be automatically transferred to the new FSCA-regulated entity.
Read also! OnEquity Gains FSCA Approval for South Africa Launch
easyMarkets Reports Q2 Surge
This regulatory milestone comes on the heels of a strong second-quarter performance for easyMarkets, driven by increased trading volumes in Gold and Nasdaq. Gold prices surged 20% compared to the same period last year, attracting significant investor interest.
Nasdaq trading volumes among easyMarkets clients expanded by 51% in Q2, underscoring the current market environment’s appeal. However, the firm reported a 45% decrease in crypto trading volumes from Q1, attributed to prevailing bull market conditions.
Several other instruments saw notable price movements in Q2 year-over-year, including a 125% rise in Cocoa, a 20% increase in Gold, and a 6% uptick in USDJPY.