- Standard Investment Bank was licensed in December 2018 to: -Manage its online forex trading investments and to develop favorable strategies for their clients.
- FXPesa, Pepperstone Market, Scope Market, and Exinity Capital East Africa among low-risk Forex platforms in Kenya.
Standard Investment Bank, SBI, online foreign exchange trading business is after all compliant after claims were made of them breaching the law.
This was confirmed by The Capital Markets Authority, CMA, that Standard Investment Bank was licensed in December 2018 which allowed SBI to: –
- Manage its online forex trading investments
- And to develop favorable strategies for their clients.
The investment firms have been trading stock indices commodities and currencies to customers who need a minimum amount of sh 250,000 so as to reach the global market.
The acting CEO of SBI, Mr. Wyclife Shamiah explained that considering customer protection mandate, all stakeholders operating under the Money Manager license were in compliance.
He also confirmed regular monitoring and surveillance of the licensed entities so as to meet the required standards.
SBI is Compliant With CMA Rules.
“Standard Investment Bank is committed in communicating to clients who sell and buy order position through licensed forex trading brokers, meeting customers investment goals by conducting financial analysis and looking into portfolio investments on behalf of the customers”, said Mr. Shimiah.
In the Capital Market Regulations, 2017 there are three clear mentioned kinds of licenses that included the non-dealing foreign exchange trading broker, the dealing foreign exchange broker, and money manager license which help in maintaining the standards and trading terms.
This happened after the Capital Market Authority warned Kenyans who were using unlicensed online forex trading entities since it involved so must risk of losing investments.
The licensed entities by the CMA include FXPesa, Pepperstone Market, Scope Market, and Exinity Capital East Africa as the non-dealing online brokers and are recommended for safe and low risk online investing.