The HF Markets Group has started 2022 by securing a license from the Capital Markets Authority (CMA) of Kenya. The broker will be regulated through HFM Investments Limited, under license number 155.
CMA Regulatory Oversight
Amidst a rise in demand for forex trading services in Africa, HotForex has secured a license from the financial regulator in Kenya. Under the new license, the brand can offer retail trading products, including leveraged CFDs and promotional incentives. This is good news for the global brokerage as the CMA has increasingly warned local investors against opening accounts with unregulated trading platforms.
Oversight from the CMA also compliments existing licenses HotForex has in the region and further afield:
- The Financial Sector Conduct Authority (FSCA) of South Africa
- The Cyprus Securities and Exchange Commission (CySEC)
- The Financial Services Commission (FSC) of Mauritius
- The Financial Conduct Authority (FCA) in the UK
- The Dubai Financial Services Authority (DFSA)
HotForex commented on the news: “This new license marks a new milestone in the steady growth of HotForex, which has become a truly global and multi-regulated brand over the past ten years. It also demonstrates the continued success of the HF Markets Group, made possible by our clients, partners and the dedicated efforts of the HotForex team to offer the safest trading environment possible to millions of traders around the world.”
HotForex was founded in 2010 and offers multi-asset trading on the MetaTrader 4 and MetaTrader 5 platforms. Clients can speculate on the price of currencies, stocks, energies, precious metals, indices, bonds and ETFs. In total, over 1,000 assets are available alongside varying leverage rates depending on your location.
HotForex also offers its own mobile trading application that comes with a portfolio of useful investing tools. Users can view daily market analysis, set up watchlists, monitor positions and execute trades directly from charts.
New traders can get started with a $100 minimum deposit and can fund accounts using a range of popular payment solutions, including Neteller, Skrill, Trustly, UnionPay, Mastercard, Visa and M-Pesa. Most deposits are instant and fee-free, though terms and conditions may vary depending on where you register.
Start trading today using the sign-up link below.