Pepperstone stands as a global CFD and forex broker. Now, however, it has managed to receive a financial services license from BaFin, the German financial regulator.
Gaining German Licensing
The brokerage itself is citing the move as being part of its strategy of global growth. With the acquisition of a local German license, Pepperstone’s goal of serving Austrian and German markets better is all the more easier.
Tamas Szabo stands as the CEO of Pepperstone, and gave comment about the matter at large. He stated that this is a significant milestone for the brokerage firm, as it expands Pepperstone’s reach. He highlighted how global expansion had been an important goal for the broker in recent years, as well. He described expanding further into Europe as a natural expression of this expansion goal, and highlighted how it will expand the offerings they already have for Austrian and German clients.
Ongoing Plans Of Global Expansion
Interestingly enough, Pepperstone refrained from providing intricate details regarding the localized German operation, only celebrating the license itself to the public.
Pepperstone has long since been preparing to further its global growth, with the European Union among its expansion targets. As it stands now, Pepperstone managed to offer services to European countries by way of passporting the license it held under the Financial Conduct Authority (FCA), the UK regulator. It had received this license from the FCA back in 2015.
Enacting Brexit Countermeasures
With the UK breaking off from the EU in the coming months, these passporting rights between the EU and the UK will inevitably be scrapped. As such, Pepperstone needed something new in order to continue operations within Europe.
Thus, the Australian brokerage went out to seek a CIF license from the Cyprus regulators, as a means to continue its operations within Europe once Brexit reaches full fruition.
It should be noted that Pepperstone is already regulated under the Australian Securities and Investment Commission, or ASIC. Alongside this, it’s regulated under the FCA, the Securities Commission of the Bahamas (SCB), as well as the Dubai Financial Services Authority (DFSA). The DFSA is located within the UAE, with the SCB being in the Bahamas, as the name would imply
It seems that Pepperstone is making big moves, trying to spread out across as much of the world as it can. With any luck, this will benefit the FX and CFD space at large.