ATFX acquires licensed ODP Khwezi Financial Services in South Africa
Leading online trading services provider ATFX has announced the acquisition of a licensed ODP (Over-the-Counter Derivative Provider) in South Africa, following the successful purchase of Khwezi Financial Services, which is regulated by the Financial Sector Conduct Authority (FSCA). The company said that this strategic move further solidifies ATFX’s global presence and strengthens its position as a key player in the online trading industry.
The Over-the-Counter Derivatives Provider (ODP) license, granted by the FSCA under Financial Markets Act no.19 of 2012, enables financial service providers to legally offer over-the-counter derivatives, such as contracts for difference (CFDs). As a result, ATFX can now provide South African clients access to various financial instruments and offer comprehensive trading services as an ODP.
ATFX Chairman Joe Li highlighted the company’s commitment to providing a world-class trading experience for clients in the region:
“With the recent acquisition of Khwezi Financial Services, ATFX boldly charts its path to significant growth in the South African market. In addition to competitive spreads, cutting-edge technology platforms, and round-the-clock customer support, ATFX aims to cater to the needs of retail clients with a client-centric approach and provide a new source of liquidity in the African institutional business. By leveraging our resources and expertise, we aspire to establish as a leader in the industry, offering trading opportunities and services ahead, and service a wider range of customers in the African market.”
In 2023, ATFX obtained a Securities and Commodities Authority (SCA) license in the United Arab Emirates (UAE), allowing it to offer an array of financial products to residents. Moreover, through acquiring Rakuten Securities Australia Pty Limited in the same year, ATFX secured an Australian Securities and Investments Commission (ASIC) license. Including the ODP license now, this year ATFX has already acquired 3 more licenses in addition to the recent license library FCA (UK), CySEC (Cyprus), FSC (Mauritius), and Seychelles. The company said that these important licenses paved the way for offering secure and regulated trading services to customers across multiple jurisdictions.
As evidenced by this latest development in South Africa, ATFX noted it remains committed to expanding its global reach and optimizing its offerings in compliance with regional regulations. Guided by its diligent adherence to local laws and dedication to stringent customer protection measures, the future seems promising for ATFX and its clientele not only in South Africa but worldwide.
ATFX is a global online trading services provider, offering 300+ trading instruments, including currency pairs, CFDs, indices, commodities, and more. With 18 locations presence in Europe, Southeast Asia, the Middle East, Latin America, Pacific Regions, and now South Africa, ATFX is committed to delivering exceptional trading experiences to clients worldwide. The company prioritizes customer satisfaction, innovative technology, and strict regulatory compliance, it has been positioned as one of the top choices for traders looking for reliable and sophisticated trading solutions.