Online retail broker Capital.com announced on Thursday that it has been granted a licence to work in Australia by the Australian Securities and Investments Commission (ASIC).
The Australian Financial Services (AFS) licence awarded to Capital.com has seen the broker open an office in Melbourne. Capital.com, which is already regulated by the Cyprus Securities and Exchange Commission (CySEC) in Europe and by the UK Financial Conduct Authority (FCA), said it is committed to its global expansion plans.
Peter Richards, Director of Capital.com Australia Limited, stated:
Capital.com is one of the fastest growing fintech companies operating in the retail trading space. The platform has a tremendous opportunity to grow in this region and to help more Australians access financial markets securely and responsibly. Underpinned by Capital.com’s comprehensive education resources, we aim to bring the platform’s cutting-edge technology and intuitive UX to as many Australians as possible supported by our on-the-ground teams and local expertise.
During the first half of 2021, the retail FX and CFD broker reported new clients rose 400% compared to the second half of 2020. In the same period, trading activity also increased, with trading volumes up over 184%.
Jonathan Squires, Group CEO at Capital.com, commented:
Jonathan Squires Source: LinkedIn
ASIC applies enhanced levels of regulation to the Australian securities market, making it one of the most comprehensive and well-respected regulators in the world. The AFS license affirms our commitment to meet the highest compliance standards worldwide, marking yet another important milestone in the strategic development of Capital.com as a fast-growing, regulated investment trading platform.
Traders using Capital.com in Australia will be able to trade indices, currency pairs, commodities, shares, and cryptocurrencies. In addition, the company recently extended its trading hours to allow premarket and after-hours trading on its platform.
Known in the UK for our excellent customer satisfaction levels, we are excited to bring our services to the tech-savvy Australian investor base and to support more people in their trading and investing journeys.
Having gained a degree in economics, Alan entered the world of financial services starting his career in London and then moving to New York for a number of years. His first post at a City bank saw him establish a reputation as an forex trader. Having recently returned from New York after eight successful years, Alan is now a prosperous trader in his own right concentrating on commodities and forex.