VCG Markets Receives Kenyan Licence in Expanding its East African Retail Footprint
By Tanya Chepkova
AI summary of the source article
VCG Markets has secured regulatory approval from Kenya's Capital Markets Authority for a non-dealing online forex brokerage. The firm plans to introduce its flagship mobile trading app to Kenyan investors.
Key facts
- VCG Markets obtained a non-dealing online forex brokerage licence from Kenya's Capital Markets Authority.
- The authorisation allows VCG Markets to offer online forex and CFD products via an intermediary model.
- Securing the licence requires local incorporation, segregated accounts, and a minimum capital buffer of KES 30 million ($231,000).
Source excerpt · Finance Magnates
VCG Markets has secured regulatory approval for a non-dealing online forex brokerage in Kenya, joining a growing list of international brokers establishing a regulated presence across East Africa’s primary financial hub. “We are investing locally and bringing the VCG Mobile App, our flagship trading platform, to Kenyan investors,” said Brian Myers, Group CEO of VCG Markets. What the Kenyan Licence…