Key Insights
- Banxso has obtained an investment dealer license from Mauritius financial regulator
- The license allows Banxso to offer a wider range of financial products/services
- It adds to Banxso’s existing regulatory approvals in Vanuatu, Comoros, Cyprus and recently Australia
PORT LOUIS (MarketsXplora) – South African forex and CFD trading brokerage Banxso has secured an investment dealer licence from Mauritius’ Financial Services Commission (FSC), the company said on Sunday, allowing it to offer a wider range of products and services internationally.
The licence was obtained through Éclat Technologies Ltd, a Mauritius-based subsidiary of Banxso, which is headquartered in Johannesburg after relocating from Vanuatu last year.
It permits Banxso to provide securities trading and other regulated investment activities, complementing existing regulatory approvals the company holds in Vanuatu, Comoros and Cyprus, where it operates as XF Service.
“The acquisition of the FSC Mauritius licence is a testament to our unwavering commitment to excellence and regulatory compliance,” a Banxso spokesperson said. “It empowers us to broaden our horizons and reinforce our pledge to provide secure, transparent, and comprehensive financial services.”
The new Mauritian licence comes just days after Banxso announced receiving approval from the Australian Securities and Investments Commission (ASIC), which the company called its “most prestigious” authorisation to date.
Banxso had outlined plans in 2022 to also pursue regulatory licences in the UAE and Britain, though the company did not disclose whether those efforts are still ongoing.
The brokerage has rapidly expanded its global reach via new licences, aiming to provide worldwide clients access to its FX, CFD and crypto trading platform while meeting differing jurisdictional compliance requirements.
Read also! XS.com Expands Into Africa with South African Broker Acquisition
Among other brokers recently granted FSC licences was OvalX, allowed in January to launch digital asset product offerings through an investment dealer subsidiary.
Mauritius has emerged as an international financial hub, leveraging its hybrid regulatory regime and positioning to attract investments by funds and broker-dealers across asset classes.