The Capital Markets Authority (CMA) has approved Exinity Capital East Africa Limited to operate as a non-dealing online foreign exchange broker.
Exinity Capital East Africa Limited becomes the fourth non-dealing online foreign exchange broker to be licensed by CMA.
“This is an important milestone in the online foreign exchange market as it gives Kenyans a choice of four non-dealing online foreign exchange brokers licensed by CMA,” acting chief executive Wyckliffe Shamiah said Wednesday.
According to the Capital Markets (Online Foreign Exchange Trading) Regulations, 2017, Non-dealing Online Forex brokers do not offer client advice or trade on behalf of their clients. Clients deposit their investment amount with an account to be offered by the broker.