Qinox Tech obtains FSCA license in South Africa

Qinox Tech, a white-label and service provider for brokerage and exchange firms, has included a regulatory license of the South African Financial Sector Conduct Authority (FSCA) in the list of financial operational licenses.

South Africa’s FSCA supervises financial institutions such as banks, brokers, market infrastructure providers. The regulator aims to increase the efficiency and integrity of the financial markets. FSCA license creates reliability for both service providers and investors regionally, allowing broker candidates to start a ready-made brokerage within a short period of time spending less effort.

Qinox Tech has been developing its network in South Africa and the region and has an effective customer database there. South African market has a fast-growing and strong economy, offering vast opportunities for investors.

Hüseyin Gürsöz, the CEO of Qinox Tech commented:

Our customers no longer have to wait long to acquire FSCA license and set up a brokerage in South Africa. We have minimized the initiation of this process by establishing a legal company to take advantage of business opportunities in the country and the region. Starting a brokerage business in Africa is now pretty easier with Qinox Tech.

Qinox Tech obtains FSCA South Africa license

With clients across over 26 countries, Qinox Tech pays attention to the continent, as a considerable amount of their clients are expanding in Africa. The company attributes this to the rapidly growing population and great strategic capacity of the African continent. Qinox Tech noted that there is still a large supply deficit to meet the intense demand in the African market and expects more brokers to serve in these countries in the coming years:

Gürsöz added:

In addition to our already completed and ongoing white-label company setup processes, we continue to meet with our existing and potential customers from various countries, especially Sub-Saharan, for the broker projects we are about to start. It is seen that the share of the African market in the global forex pie will increase significantly in the coming years and will reach a decisive level. We don’t have to wait too long to see the African market becomes a real game-changer, as it’s so far progressed strongly.

Qinox Tech offers a wide range of services including White Label MT4 and MT5, CRM, Risk Management and different plugins and turnkey forex solutions, as well as regulatory licenses from different regions. The company, which also provides offshore licenses including Labuan, St.Vincent and Seychelles. With the addition of an FSCA license, the company expects an increase in customer growth in South Africa and the whole African continent.

Earlier in March, Qinox Tech, announced that the company upgraded its global currency rates data service through a service agreement with OANDA, an FCA-regulated international broker and data provider.

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