CMA grants licenses to Admirals in Kenya

Admirals announce that it has received a Kenyan license from Capital Markets Authority, also known as CMA, to operate as a non-dealing forex trading broker. The development is crucial as it grants the venture access to the regulated market in Africa.

Admiral is a safe platform for traders. It is regulated in all the regions, and the group is licensed under the Estonian Financial Supervision Authority EFSA and various other groups. It has an easy sign-up process with an option to create an account through an email or phone number. Traders can directly get started on Admirals with their Facebook and/or Gmail accounts.

Every Admirals Markets review praises the platform for hosting an extensive list of educational resources. They are further complemented by webinars, updated news, and blogs published by traders. 

According to the official CMA’s official release, they have allowed licenses to four companies under the Capital Markets (Licensing Requirements) (General) Regulations 2002. However, one license has been granted under Capital Markets (Online Foreign Exchange Trading) Regulations, 2017. Admirals Kenya Limited has received the license to operate as a non-dealing online forex trading broker.

A statement published by Admirals reads that it is hopeful that the development will assist the venture to grow in the African region. Admirals received the license from CMA six months after it was licensed by the Financial Sector Conduct Authority. The latter allows the venture to provide a Contract of Difference execution and share trading options. Admirals Group has now set up an office in Cape Town, a move that aligns with its plans to expand in the African region. Moreover, it will help Admirals to support the increasing base of its clients.

According to the update, owing to the license received by Admirals for forex spread trading, it is to work as a link between the foreign exchange market and a client. However, Admirals themselves cannot take part in trading or market-making activities. However, if one wants to engage completely in market activity, then they may visit our regulated forex brokers in Kenya list.

Furthermore, the Authority has also licensed Admirals Kenya Limited as a non-dealing online forex trading broker under the Capital Markets (Online Foreign Exchange Trading) Regulations, 2017. Admirals Kenya Limited will act as a link between a client and the foreign exchange market in return for a commission in spreads but will not engage in market-making activities.

Furthermore, the plan is in the pipeline to take over Aglobe Investments Limited through an agreement signed with its Cypriot and South African subsidiaries. The recent partnership of Admirals includes partnering with TipTank with an aim to improve the research capabilities of its traders. The partnership grants traders unlimited access to analyst rating consensus and price targets of stocks, helping traders to formulate a data-driven decision for their trades.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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