Australia-based retail forex and CFDs broker Pepperstone continues its global expansion by entering the Kenyan FX market.
Pepperstone Markets Kenya Ltd, a subsidiary of Pepperstone Group Ltd, has now been granted a non-dealing Foreign Exchange Broker License by the Capital Markets Authority of Kenya.
To head the operation, Pepperstone tapped Standard Bank and Barclays alum Sahil Patel. Mr. Patel joined the company last year to help set up the business and secure the CMA license.
Pepperstone Kenya CEO Sahil Patel noted,
“We’re extremely excited by the opportunity to bring world class trading platforms, execution and pricing to the vibrant retail and institutional forex market in Kenya. Having traded for international banks over the past decade, I am pleased to offer the same level of product sophistication, pricing, analysis and execution to retail investors as that received by a bank trading desk.”
The launch, which coincides with Pepperstone’s 10th year of operations, is part of a global growth strategy that enables more effective and specific servicing of the fintech’s clients.
Mr Patel said,
“Ultimately, what sets us apart from our competitors is our commitment to our clients and great service. We’ve modelled our product suite to empower our traders with all the tools, expert market insight and client service they need to succeed on their trading journey.”
Pepperstone Group CEO Tamas Szabo commented,
“Kenya is an important new region for us. It has become a renowned and well-regulated financial services hub in East Africa. The economy is highly developed and embodies entrepreneurship and growth. We very much look forward to doing business in Nairobi and working together with the local regulator and government to develop the industry in a sustainable manner.”