Forex broker group HotForex said on Friday it has, through its unit HF Markets (SA) Ltd., obtained a license from South Africa’s Financial Services board (FSB)
The move is in line with the brokerage’s strategic plans to turn to an international multi-regulated brand.
HotForex is the unified brand name of HF Markets Group, which operates through its subsidiaries that hold licensed under the Financial Services Commission (FSC) of Mauritius, the Financial Services Authority (FSA) of St. Vincent and the Grenadines, and the Cyprus Securities and Exchange Commission (CySec).
The brokerage serves both retail and institutional clients.
The FSB is the regulatory body of South Africa’s non-banking financial services industry, which includes retirement funds, short-term and long-term insurance, companies, funeral insurance, schemes, collective investment schemes (unit trusts and stock market) and financial advisors and brokers.