Trade
Nation, a forex and contracts for differences (CFDs) broker, has secured a new
strategic license from the Financial Services Authority of Seychelles. This
license expands the company’s suite of existing authorizations, which include
those in the UK, Australia, the Bahamas, and South Africa.
Trade Nation Obtains License
in Seychelles
Seychelles
is a small island in the Indian Ocean, located about 1,600 kilometres off the
coast of Africa. It is a popular licensing location among brokers that allows
access to the Asian market. This is the goal that the broker Trade Nation
has set for itself.
Stuart
Lane, the CEO of Trade Nation, views the Seychelles license as a significant
milestone for Trade Nation’s growth.
“As we
continue to fortify our regulatory position and offering to our global
clientele, we are delighted to provide even more customers with a competitive
service they can trust,” Lane commented. “Trade Nation is strategically well-positioned
to launch these new initiatives under the protection of Seychelles
regulation.”
Wanting to
expand into new markets and broaden its existing customer base, Trade Nation
has chosen to collaborate with a popular sports team. At the end of June, the
company announced that it is becoming the new sleeve sponsor of Aston Villa FC,
a team competing in England’s highest football league. Prior to this,
two cricket teams had joined the company’s list of partners.
The tea is hot @AVFCOfficial! ☕️ 📣 ⚽Stu, our CEO, spills the tea on our new and exciting Premier League Partnership with ASTON VILLA! 🎉 Stay tuned and follow us on this exciting journey! #AstonVilla #TradeNation #spillthetea #partnership pic.twitter.com/JbzQFTPNpn
— Trade Nation (@ItsTradeNation) June 22, 2023
Meanwhile,
Trade Nation has promoted Richard Nathan to the position of CEO for the Bahamas
region. Nathan has been serving as the Director of Customer Service since April
2019.
Brokers Are Increasingly
Choosing Seychelles
Although a
few years ago, Seychelles was primarily associated with an exotic regulatory
location, the FSA has done a lot to establish itself as a trusted regulatory
institution. For this reason, more brands, not only FX/CFDs but also from the
crypto industry, are choosing to get licensed on the oceanic island.
At the end
of June, one such broker was Moneta Markets, which, thanks to its presence in Seychelles, is targeting global expansion. At the end of last year, the
cryptocurrency platform, Bitget obtained authorization there. Some of the biggest
brokers in the retail space, including Plus500, have been benefiting from local
regulations for several years now.
Compared to
licenses obtained in Europe, Seychelles offers much cheaper conditions for
authorized companies. Together with Mauritius and Vanuatu, they are currently
the cheapest solutions for brokers who want to achieve the status of a
regulated firm.
This article was written by Damian Chmiel at www.financemagnates.com.
