Sheer Markets has taken a leap onto the global trading scene by obtaining a regulatory licence from the Labuan Financial Services Authority (LFSA). While the broker is already regulated by the Cyprus Securities and Exchange Commission (CySEC), which covers traders located in the European Union, it has not previously been able to extend its services to global citizens. The move opens the doors to traders from Asia, Latin America, Oceania and Africa.
Labuan Financial Services Authority
The LFSA aims to protect retail traders by ensuring its licensees follow strict rules and guidelines on how they conduct their businesses. Labuan is a free trade zone within Malaysia. The authority was set up in 1996 to develop the special economic zone into a centre for business and financial services.
Howard Carr, CEO of Sheer Markets had this to say, “It is with great excitement that we take this major step into introducing the global community to NDFs and our array of over 1900 CFD trading instruments.”
About Sheer Markets
Sheer Markets has one of the largest selections of assets available in the industry, with a range of NDFs and over 1,900 CFDs covering forex, commodities, indices and cryptocurrencies. Its products were previously restricted to European traders but are now available to those outside the jurisdiction too.
The broker offers access to one of the most well-known trading platforms – MetaTrader 5. Its vast range of technical indicators, graphing instruments and charts make it popular amongst both experienced traders and beginners. Plus, access to the MT5 CodeBase means those who prefer automated trading can find thousands of bots.
Leverage is offered in line with CySEC regulation, up to a maximum of 1:30 depending on the asset traded. It is not yet clear whether this limit will be increased for traders outside of Europe now that the company is onboarding global clients.
Minimum deposits start at 200 EUR/USD depending on the account chosen. Sheer Plus and Prime accounts are offered on top of the Standard account, providing traders with additional benefits, including an Account Manager, market commentary and free VPS hosting.
Register for a trading account using the link below.