Global CFD broker Capital.com said on Tuesday that its South African entity, Capital Com South Africa (Pty) Ltd, had received dual regulatory approvals from the Financial Sector Conduct Authority (FSCA).
The authorisations cover an Over-the-Counter Derivatives Provider (ODP) licence and a Category 1 Financial Services Provider (FSP) licence. The ODP approval covers the firm’s derivatives business, while the Category 1 FSP permits local marketing and intermediary, non-advice financial services under FSCA requirements.
Capital.com said the South African business plans to onboard clients locally and offer CFDs across more than 5,000 markets, including equities, commodities, indices, FX and crypto CFDs.
“Operating under local regulatory supervision is fundamental to how we approach market entry. The FSCA approvals define the framework within which Capital.com is permitted to operate in South Africa, including the standards we must meet around governance, conduct and risk controls,” said Valentina Rzheutskaya, Executive Director at Capital.com.
The broker also appointed senior financial services executive Travis Robson as chief executive officer for South Africa.
South Africa’s ODP regime requires providers offering OTC derivative products to hold an ODP licence before operating legally in the market.
The South Africa approvals follow Capital.com’s recent regulatory authorisation in Kenya.
