Finalto adds African Pairs to its Platform

Finalto is pleased to announce the addition of a number of African Pairs to its trading platforms.

The addition of the currency pairs is another important step in Finaltos efforts to exceed the expectations of its customers. The company opened its South African office in 2014 and works hard to ensure it can cater to the entire African region.

The currency pairs now live on the platform are:

• - BWP: Botswana Pula - BWPUSD

• - GHS: New Ghana Cedi - USDGHS

• - KES: Kenyan Shilling - USDKES

• - UGX: Uganda Shilling - USDUGX

• - ZMW: Zambian Kwacha - USDZMW

Solomon Gounden, Managing Director of Finalto South Africa, said of the move: “Finalto is committed to the African story. Bringing African currency pairs and other African assets to clients, differentiates us in the local region. SA residents know and want to trade in African currency pairs, and it was important and critical that we make this possible, so we can show our clients our commitment to the region.”

The addition of the currency pairs comes at the same time as the Finalto South African licensed entity has been awarded an ODP licence.

The ODP regulation imposes on broker additional due diligence requirements; as trading speculative financial products is high risk and it enforces strict capital adequacy measures. It also puts the onus on the broker to maintain records and controls for end-of-day transaction reporting, to ensure that CFD trading is transparent and that the ODP broker is operating responsibly.

Finalto is a FAIS and ODP Licence holder, in South Africa. The ODP licence is issued to credible institutions to market and contract as principals in CFDs, and Finalto was proud to be among the first institutions to meet the criteria.