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Mauritius-based online forex dealer unveils platform

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Mauritius-based online forex dealer unveils platform

Mauritius-based online currency trader HFM Investments Limited has launched its operations in Kenya under the HotForex brand, becoming the sixth company to set up shop in Nairobi.

The HF Markets Group announced the HotForex brand is now licensed and regulated by the Capital Markets Authority (CMA), Kenya’s Business Daily reported.

“This allows it to onboard individuals and institutional customers to trade forex and contract for differences (CFD), a financial contract that pays the differences in the settlement price between the open and closing trades,” it said.

HFM Investments is reportedly now part of the six non-dealing online foreign exchange brokers licensed by CMA including Exinity East Africa Limited, EGM Securities (trading as “FXPesa”), SCFM (trading as “Scope Markets”), Pepperstone Markets Kenya, and Windsor Markets.

The dealers are said to be gaining traction in the market with the attractiveness of offshore investment options that offer opportunities and diversification on top of traditional asset classes like real estate, stocks and government bonds.

While online forex offers high returns, it also comes with major risks of loss, making it suitable for sophisticated and high net worth clients.

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.