ATFX has acquired Khwezi Financial Services, a move that grants ATFX a licensed Over-the-Counter Derivative 

Provider (ODP) status in South Africa. The takeover allows the firm to act as an OTC derivative provider and 

therefore is permitted, under regular features of its business, to ‘originate, issue, sell or make a market in OTC 

derivatives’.

The ODP license, issued under the Financial Markets Act no.19 of 2012 by the Financial Sector Conduct Authority 

(FSCA), is crucial for legal operations in the OTC derivatives market, which includes contracts for difference (CFDs).

Forex brokers in South Africa are overseen by the financial sector conduct authority, which approves the firms that 

can operate within the jurisdiction. The FSCA handles the issuance of licenses and can sanction companies that 

violate guidelines of the nation’s dual regulation system.

ATFX Chairman Joe Li commented: “With the recent acquisition of Khwezi Financial Services, ATFX boldly charts its 

path to significant growth in the South African market. In addition to competitive spreads, cutting-edge technology 

platforms, and round-the-clock customer support, ATFX aims to cater to the needs of retail clients with a client-centric 

approach and provide a new source of liquidity in the African institutional business. By leveraging our resources and 

expertise, we aspire to establish as a leader in the industry, offering trading opportunities and services ahead, and 

service a wider range of customers in the African market.”, stated Joe Li.

ATFX said it finds several motivations to operate in South Africa which include the favourable business climate and the 

progressive nature of the country’s legal system in regard to international brokerage companies.

ATFX has recently entered into a new phase of growth, which saw the broker expand its geographical footprint across 

Asia, as well as enhance its product offering, focusing on localization.

Earlier in the year, the firm secured a Securities and Commodities Authority (SCA) license in the United Arab Emirates 

(UAE). Additionally, the acquisition of Rakuten Securities brought an Australian Securities and Investments Commission 

(ASIC) license into its portfolio. With the inclusion of the South African ODP license, ATFX has expanded its global footprint 

and regulatory compliance this year, adding to its existing licenses from the FCA (UK), CySEC (Cyprus), FSC (Mauritius), 

and Seychelles.