Pepperstone stands as a prominent contract for differences (CFDs) and forex broker, and has recently expanded geographically. The broker has officially entered the Kenya Forex trading markets.

Gaining Access To Kenyan Markets

The Capital Markets Authority of Kenya has recently given Pepperstone’s local subsidiary, Pepperstone Markets Kenya Ltd, a non-dealing Foreign Exchange Broker License.

Sahil Patel stands as the CEO of Pepperstone Kenya, and gave an official statement about the matter at large. He stated that his company is extremely excited about the opportunity to be a provider of world-class trading platforms, pricing, and execution within Kenya’s institutional and retail forex markets. Patel went as far as describing the forex markets within Kenya as vibrant, as well.

The Mandatory Kind Words

Alongside this, Patel highlighted how Pepperstone has been doing trades for international banks for the past decade, assuring Kenya that the same level of sophistication, analysis, pricing, and execution of its products will be used by a bank trading desk and a retail investor.

Pepperstone had further managed to secure a license from the Dubai Financial Services Authority, or DFSA, earlier this years. Alongside this, the brokerage had managed to gain two Europe-based licenses: One from the Cyprus Securities and Exchange Commission (CySEC), and the other from the German financial regulator, BaFin. This was done in order to allow the brokerage to continue its services once Brexit has finally reached complete fruition.

Working In A Demanding Market

Africa is widely viewed as a growing, albeit mostly untapped, trading market environment, with many offshore brokerages trying to onboard Kenya-based retail traders. As such, Kenya’s regulators have been forced to remain vigilant, and have issued a number of warnings against various offshore brokers.

Only two other brokerages, excluding Pepperstone, have managed to gain licenses from Kenya’s Regulators. The first being SCFM Limited, who trades under the name of Scope Markets. The second is EGM Securities, the Kenya arm of Equiti Group, and trades locally as FXPesa.

Expansion Into East Africa

Tamas Szabo stands as the CEO of Pepperstone Group, and highlighted that Kenya is an important new region for the brokerage group. Szabo highlighted how it stands as a well-regulated, renowned financial services hub for the East African region, highlighting the developed economy and its embodiment of growth and entrepreneurship.

He further expressed the Group’s eagerness to do business within Nairobi, working with the local government and regulator for sustainable development of the industry at large.