XS.com acquires licensed South Africa CFDs broker Ubutyebi
Fabian Frants will serve as Business Development Director of XS.com in South Africa and Director of XS ZA.
Fabian Frants will serve as Business Development Director of XS.com in South Africa and Director of XS ZA.
OnEquity has also hired former IronFX executive Enver Snyders, as Country Manager for South Africa.
TibiGlobe is run mainly from Cyprus, but operates as a South Africa regulated entity.
Vantage’s growing focus on South Africa was marked by the promotion of Ted Odigie to Head of Sales for Africa in November.
International expansion, and specifically starting operations in the UAE and South Africa, were key goals for XTB during 2021.
Anchored by a strong UK presence, ETX Capital recently revealed plans to expand into Europe and beyond.
The license is a “Category 1” license, enabling USGFX-South Africa to engage in transactions in derivative instruments as an intermediary.
NAGA generated revenues of around €2.2 million in July 2020, on trading volume of just under €10 billion (USD $11.8 billion).
Q8Trade is a Retail FX broker controlled by Kuwait based brokerage Q8 Securities (formerly known as Al-Arabi).