Key Insights
- Exness obtains ODP license from South Africa’s FSCA, expanding its regulatory portfolio
- New license mandates stricter risk management and reporting standards, enhancing client protection
- Exness aims to leverage this regulatory approval to strengthen its position in the South African market
JOHANNESBURG (MarketsXplora) – Multi-asset retail broker Exness has been granted an Over-the-Counter Derivative Provider (ODP) license by South Africa’s Financial Sector Conduct Authority (FSCA), the company announced on Wednesday.
The new license expands Exness’ regulatory portfolio and reinforces its commitment to client security and transparency in the South African market. The ODP license imposes strict risk management protocols and reporting standards, offering an additional layer of protection for traders.
Paul Margarites, Exness Regional Commercial Director, told MarketsXplora,
“This license acquisition marks a crucial milestone for Exness in South Africa. We’re not just focused on providing optimal trading conditions, but also on ensuring robust safety measures that prioritize our clients.”
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The move comes as online trading platforms face increasing scrutiny worldwide. Adherence to FSCA’s rigorous standards is expected to enhance confidence among South African traders using the Exness platform.
Exness, known for its proprietary trading platform and unique market protections, aims to leverage technology and ethical practices to elevate industry standards. The company emphasizes a frictionless trading experience that aligns with how financial markets should operate.
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